Philippines: Electroplating Machine Market 2024

Electroplating Machine Market Size in the Philippines

For the third year in a row, the Philippine electroplating machine market recorded growth in sales value, which increased by 3,645% to $X in 2021. Over the period under review, consumption enjoyed significant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Electroplating Machine Exports

Exports from the Philippines

In 2021, exports of machines for electroplating, electrolysis or electrophoresis from the Philippines fell sharply to X units, waning by -51.5% compared with 2020 figures. In general, exports, however, saw a significant expansion. The growth pace was the most rapid in 2020 with an increase of 271,922%. As a result, the exports reached the peak of X units, and then fell markedly in the following year.

In value terms, electroplating machine exports fell slightly to $X in 2021. Overall, exports, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of 1,522%. As a result, the exports reached the peak of $X, leveling off in the following year.

Exports by Country

China (X units) was the main destination for electroplating machine exports from the Philippines, accounting for a 67% share of total exports. Moreover, electroplating machine exports to China exceeded the volume sent to the second major destination, Japan (X units), fivefold. Hong Kong SAR (X units) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China totaled +126.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+144.1% per year) and Hong Kong SAR (+32.0% per year).

In value terms, Taiwan (Chinese) ($X), China ($X) and Japan ($X) constituted the largest markets for electroplating machine exported from the Philippines worldwide, together accounting for 86% of total exports.

China, with a CAGR of +81.9%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average electroplating machine export price stood at $X per unit in 2021, rising by 106% against the previous year. Over the period under review, the export price, however, showed a precipitous decline. The growth pace was the most rapid in 2019 when the average export price increased by 5,941%. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Taiwan (Chinese) ($X per unit), while the average price for exports to Hong Kong SAR ($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 China (-19.7%), while the prices for the other major destinations experienced a decline.

Electroplating Machine Imports

Imports into the Philippines

In 2021, imports of machines for electroplating, electrolysis or electrophoresis into the Philippines surged to X units, with an increase of 1,126% on the previous year's figure. Over the period under review, imports recorded a significant increase. The growth pace was the most rapid in 2020 when imports increased by 1,778% against the previous year. Imports peaked in 2021 and are likely to continue growth in the near future.

In value terms, electroplating machine imports fell rapidly to $X in 2021. In general, imports continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 91% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of electroplating machine to the Philippines, with a 60% share of total imports. Moreover, electroplating machine imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X units), threefold. The third position in this ranking was taken by the United States (X units), with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +93.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+362.4% per year) and the United States (+153.5% per year).

In value terms, China ($X) constituted the largest supplier of electroplating machine to the Philippines, comprising 42% of total imports. The second position in the ranking was held by Japan ($X), with a 17% share of total imports. It was followed by Taiwan (Chinese), with a 14% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +29.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+3.1% per year) and Taiwan (Chinese) (+72.1% per year).

Import Prices by Country

The average electroplating machine import price stood at $X per unit in 2021, reducing by -95.1% against the previous year. In general, the import price continues to indicate a sharp decline. The growth pace was the most rapid in 2018 when the average import price increased by 997%. The import price peaked at $X per unit in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-33.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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