Philippines: Linoleum Market 2024

Linoleum Market Size in the Philippines

The Philippine linoleum market soared to $X in 2021, surging by 40% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption saw significant growth. Over the period under review, the market hit record highs in 2021 and is likely to continue growth in the immediate term.

Linoleum Exports

Exports from the Philippines

After two years of growth, overseas shipments of linoleum decreased by -8.4% to X square meters in 2021. Over the period under review, exports, however, showed a significant increase. The growth pace was the most rapid in 2019 when exports increased by 489%. Over the period under review, the exports hit record highs at X square meters in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, linoleum exports skyrocketed to $X in 2021. Overall, exports, however, recorded significant growth. The pace of growth was the most pronounced in 2019 when exports increased by 333% against the previous year. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Micronesia (X square meters) and Marshall Islands (X square meters) were the main destinations of linoleum exports from the Philippines.

From 2013 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Micronesia (with a CAGR of +38.9%).

In value terms, Marshall Islands ($X) and Micronesia ($X) were the largest markets for linoleum exported from the Philippines worldwide.

In terms of the main countries of destination, Marshall Islands, with a CAGR of +137.3%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The average linoleum export price stood at $X per square meter in 2021, increasing by 42% against the previous year. Overall, the export price showed measured growth. Over the period under review, the average export prices reached the maximum at $X per square meter in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Marshall Islands ($X per square meter), while the average price for exports to Micronesia totaled $X per square meter.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Marshall Islands (+92.8%), while the prices for the other major destinations experienced mixed trend patterns.

Linoleum Imports

Imports into the Philippines

In 2021, supplies from abroad of linoleum was finally on the rise to reach X square meters for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports posted a significant increase. The most prominent rate of growth was recorded in 2015 when imports increased by 159% against the previous year. Over the period under review, imports hit record highs at X square meters in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, linoleum imports skyrocketed to $X in 2021. In general, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 227% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X square meters) constituted the largest supplier of linoleum to the Philippines, accounting for a 83% share of total imports. Moreover, linoleum imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X square meters), more than tenfold. The third position in this ranking was held by Vietnam (X square meters), with a 5.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +36.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+69.3% per year) and Vietnam (+65.3% per year).

In value terms, China ($X) constituted the largest supplier of linoleum to the Philippines, comprising 86% of total imports. The second position in the ranking was held by Vietnam ($X), with a 5.9% share of total imports. It was followed by Hong Kong SAR, with a 3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +52.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+88.8% per year) and Hong Kong SAR (+76.5% per year).

Import Prices by Country

In 2021, the average linoleum import price amounted to $X per square meter, shrinking by -11.2% against the previous year. Overall, the import price, however, continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2018 an increase of 65%. Over the period under review, average import prices reached the peak figure at $X per square meter 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, amid the top importers, the country with the highest price was Vietnam ($X per square meter), while the price for Hong Kong SAR ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+14.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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