Report Update Nov 1, 2024

Philippines - Interchangeable Tools for Hand Tools - Market Analysis, Forecast, Size, Trends and Insights

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

Philippines: Interchangeable Tool Market 2024

Interchangeable Tool Market Size in the Philippines

In 2021, the Philippine interchangeable tool market increased by 9% to $X, rising for the second consecutive year after two years of decline. Overall, consumption continues to indicate a strong increase. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Interchangeable Tool Exports

Exports from the Philippines

In 2021, overseas shipments of interchangeable tools for hand tools were finally on the rise to reach X tons after three years of decline. In general, exports, however, faced a abrupt slump. The most prominent rate of growth was recorded in 2015 with an increase of 257% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, interchangeable tool exports surged to $X in 2021. Over the period under review, exports, however, saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 277% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

South Korea (X tons), Japan (X tons) and the United States (X tons) were the main destinations of interchangeable tool exports from the Philippines, with a combined 82% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of +38.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for interchangeable tool exported from the Philippines were the United States ($X), Japan ($X) and Australia ($X), together comprising 56% of total exports.

In terms of the main countries of destination, the United States, with a CAGR of +62.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average interchangeable tool export price stood at $X per ton in 2021, declining by -7.1% against the previous year. In general, the export price, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2018 when the average export price increased by 320%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+25.0%), while the prices for the other major destinations experienced more modest paces of growth.

Interchangeable Tool Imports

Imports into the Philippines

In 2021, purchases abroad of interchangeable tools for hand tools increased by 9.9% to X tons, rising for the second year in a row after two years of decline. Overall, imports showed strong growth. The pace of growth appeared the most rapid in 2016 when imports increased by 181% against the previous year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, interchangeable tool imports skyrocketed to $X in 2021. In general, imports saw a significant increase. The pace of growth appeared the most rapid in 2015 with an increase of 119%. Imports peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Japan (X tons) constituted the largest interchangeable tool supplier to the Philippines, accounting for a 69% share of total imports. Moreover, interchangeable tool imports from Japan exceeded the figures recorded by the second-largest supplier, Singapore (X tons), threefold. The United States (X tons) ranked third in terms of total imports with a 22% share.

From 2012 to 2021, the average annual growth rate of volume from Japan totaled +32.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+18.7% per year) and the United States (+19.5% per year).

In value terms, Japan ($X) constituted the largest supplier of interchangeable tools for hand tools to the Philippines, comprising 38% of total imports. The second position in the ranking was taken by China ($X), with a 14% share of total imports. It was followed by Singapore, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Japan amounted to +42.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+34.7% per year) and Singapore (+23.8% per year).

Import Prices by Country

In 2021, the average interchangeable tool import price amounted to $X per ton, picking up by 17% against the previous year. In general, the import price recorded significant growth. The growth pace was the most rapid in 2018 when the average import price increased by 437%. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+40.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for interchangeable tools for hand tools in the world?

The country with the largest volume of interchangeable tool consumption was China, accounting for 30% of total volume. Moreover, interchangeable tool consumption in China exceeded the figures recorded by the second-largest consumer, the United States, threefold. Germany ranked third in terms of total consumption with a 10% share.

What are the largest producers of interchangeable tools for hand tools in the world?

China remains the largest interchangeable tool producing country worldwide, accounting for 43% of total volume. Moreover, interchangeable tool production in China exceeded the figures recorded by the second-largest producer, Germany, fourfold. South Korea ranked third in terms of total production with a 7.7% share.

What are the leading suppliers of interchangeable tools for hand tools to the Philippines?

In value terms, the largest interchangeable tool suppliers to the Philippines were Singapore, Japan and China, together comprising 60% of total imports. The United States, Malaysia, South Korea and Taiwan Chinese) lagged somewhat behind, together accounting for a further 27%.

What are the leading importers of interchangeable tools for hand tools from the Philippines?

In value terms, the United States remains the key foreign market for interchangeable tool exports from the Philippines, comprising 34% of total exports. The second position in the ranking was occupied by Japan, with a 13% share of total exports. It was followed by Germany, with a 10% share.

What is the average export price for interchangeable tools for hand tools in the Philippines?

In 2020, the average interchangeable tool export price amounted to $30,021 per ton, waning by -18% against the previous year.

What is the average import price for interchangeable tools for hand tools in the Philippines?

The average interchangeable tool import price stood at $11,822 per ton in 2020, rising by 3% against the previous year.

This report provides an in-depth analysis of the interchangeable tool market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 25734014 - Tapping tools for working metal
Prodcom 25734016 - Threading tools for working metal
Prodcom 25734019 - Tapping or threading tools (excluding work and tool holders for machines or hand tools, for working metal)
Prodcom 25734023 - Drilling tools with working part of diamond or agglomerated diamond (excluding work and tool holders for machines or hand tools, for rock drilling)
Prodcom 25734025 - Masonry drills with working part of materials other than diamond or agglomerated diamond (excluding work and tool holders for machines or hand tools, for rock drilling)
Prodcom 25734027 - Drilling tools with working part of sintered metal carbide, for working metal excluding unmounted sintered metal carbide plates, sticks, tips and the like for tools
Prodcom 25734031 - Drilling tools with working part of high speed steel, for working metal excluding work and tool holders for machines or hand tools - for rock drilling
Prodcom 25734033 - Drilling tools with working part of materials other than diamond, agglomerated diamond or sintered metal carbide, f or working metal excluding with working part of high speed steel
Prodcom 25734035 - Drilling tools (excluding work and tool holders for machines or hand tools, with working part of diamond or agglomerated diamond, for rock drilling, masonry drills, for working metal)
Prodcom 25734037 - Boring or broaching tools with working part of diamond or agglomerated diamond (excluding work and tool holders for machines or hand tools, for earth boring)
Prodcom 25734044 - Boring tools for working metal, with working part of materials other than diamond or agglomerated diamond
Prodcom 25734045 - Boring or broaching tools (excluding work and tool holders for machines or hand tools, with diamond or agglomerated diamond working parts, for working metal, for earth boring)
Prodcom 25734048 - Broaching tools for working metal, with working part of materials other than diamond or agglomerated diamond
Prodcom 25734050 - Milling tools with working part of sintered metal carbide, for working metal excluding unmounted sintered metal carbide plates, sticks, tips and the like for tools
Prodcom 25734061 - Shank type milling tools for working metal (excluding with working part of sintered metal carbide)
Prodcom 25734065 -
Prodcom 25734067 -
Prodcom 25734069 - Milling tools (excluding for working metal)
Prodcom 25734071 - Turning tools with working part of sintered metal carbide, for working metal excluding unmounted sintered metal carbide plates, sticks, tips and the like for tools
Prodcom 25734074 - Turning tools for working metal, with working part of materials other than cermets
Prodcom 25734079 - Turning tools (excluding work and tool holders for machines or hand tools, for working metal)
Prodcom 25734081 - Other interchangeable tools of CN .82.07 with working part of diamond
Prodcom 25734083 - Screwdriver bits with working part of materials other than diamond or agglomerated diamond (excluding work and tool holders for machines or hand tools)
Prodcom 25734085 - Gear-cutting tools with working part of materials other than diamond or agglomerated diamond (excluding work and tool holders for machines or hand tools)
Prodcom 25734087 - Interchangeable hand tools with working part of sintered metal carbide excluding unmounted sintered metal carbide plates, sticks, tips and the like for tools
Prodcom 25734089 - Interchangeable tools in other materials
Prodcom 25736013 - Rock drilling or earth boring tools with working part of cermets
Prodcom 25736018 - Rock-drilling or earth-boring tools, interchangeable, and parts therefor, with working parts of materials other than sintered metal carbide or cermets
Prodcom 25736023 - Dies for drawing or extruding metal, with working part of diamond or agglomerated diamond (excluding work and tool holders for machines or hand tools)
Prodcom 25736024 - Dies for drawing or extruding metal (excluding unmounted plates, sticks, tips, rods, pellets, rings, etc. of sintered metal carbides or cermets)
Prodcom 25736033 - Pressing, stamping or punching tools for working metal (excluding work and tool holders for machines or hand tools)
Prodcom 25736039 - Pressing, stamping or punching tools (excluding work and tool holders for machines or hand tools, for working metal)

Country coverage:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023