Philippines: Market for Lathes For Removing Metal 2024

Market Size for Lathes For Removing Metal in the Philippines

The Philippine lathe for removing metal market skyrocketed to $X in 2021, with an increase of 42% against the previous year. Overall, consumption, however, saw a slight curtailment. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Lathes For Removing Metal in the Philippines

In value terms, lathe for removing metal production fell rapidly to $X in 2021 estimated in export price. Over the period under review, production saw a abrupt slump. The growth pace was the most rapid in 2013 with an increase of 64% against the previous year. Over the period under review, lafor removing metal production reached the peak level at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Exports of Lathes For Removing Metal

Exports from the Philippines

Lathe for removing metal exports from the Philippines declined remarkably to X units in 2021, with a decrease of -83.4% on the previous year. In general, exports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 when exports increased by 545% against the previous year. The exports peaked at X units in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, lathe for removing metal exports declined notably to $X in 2021. Overall, exports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 208%. Over the period under review, the lafor removing metal exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

The Netherlands (X units), Japan (X units) and China (X units) were the main destinations of lathe for removing metal exports from the Philippines, with a combined 53% share of total exports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +21.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Japan ($X) and the United States ($X) were the largest markets for lathe for removing metal exported from the Philippines worldwide, with a combined 58% share of total exports. Malaysia, China, Vietnam, Thailand and Myanmar lagged somewhat behind, together comprising a further 35%.

In terms of the main countries of destination, Malaysia, with a CAGR of +35.4%, saw the highest growth rate of 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 lathe for removing metal export price stood at $X per unit in 2021, with an increase of 342% against the previous year. In general, the export price posted a significant increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+30.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Lathes For Removing Metal

Imports into the Philippines

In 2021, after two years of decline, there was significant growth in supplies from abroad of lathes for removing metal, when their volume increased by 66% to X units. Overall, imports recorded a resilient increase. The growth pace was the most rapid in 2017 when imports increased by 75% against the previous year. Over the period under review, lafor removing metal imports attained the maximum at X units in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, lathe for removing metal imports skyrocketed to $X in 2021. In general, imports posted a strong expansion. Over the period under review, lafor removing metal imports attained the peak figure at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

Japan (X units), China (X units) and South Korea (X units) were the main suppliers of lathe for removing metal imports to the Philippines, together accounting for 74% of total imports. These countries were followed by Vietnam, Taiwan (Chinese), Switzerland, Singapore, the UK and Germany, which together accounted for a further 19%.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +70.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of lathes for removing metal to the Philippines, comprising 58% of total imports. The second position in the ranking was taken by South Korea ($X), with a 16% share of total imports. It was followed by China, with an 8.5% share.

From 2012 to 2021, the average annual growth rate of value from Japan stood at +10.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+13.7% per year) and China (+4.2% per year).

Import Prices by Country

In 2021, the average lathe for removing metal import price amounted to $X per unit, picking up by 20% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 58% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Singapore ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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