Philippines: Market for Mattresses of cellular rubber or plastics 2024

Market Size for Mattresses of cellular rubber or plastics in the Philippines

The Philippine market for mattresses of cellular rubber or plastics surged to $X in 2022, increasing by 91% against the previous year. Over the period under review, consumption recorded a strong expansion. Consumption of peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Production of Mattresses of cellular rubber or plastics in the Philippines

In value terms, production of mattresses of cellular rubber or plastics stood at $X in 2022 estimated in export price. In general, production posted modest growth. The growth pace was the most rapid in 2016 when the production volume increased by 54% against the previous year. Over the period under review, production of hit record highs at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Exports of Mattresses of cellular rubber or plastics

Exports from the Philippines

In 2022, overseas shipments of mattresses of cellular rubber or plastics increased by 7,716% to X units, rising for the second year in a row after two years of decline. Overall, exports recorded significant growth. The pace of growth appeared the most rapid in 2016 with an increase of 12,967% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, exports of mattresses of cellular rubber or plastics soared to $X in 2022. Over the period under review, exports recorded a significant expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 12,580%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X units) was the main destination for exports of mattresses of cellular rubber or plastics from the Philippines, with a 97% share of total exports. It was followed by Micronesia (X units), with a 3.1% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +97.0%.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +117.1%.

Export Prices by Country

The average export price for mattresses of cellular rubber or plastics stood at $X per unit in 2022, dropping by -57.6% against the previous year. In general, the export price saw a abrupt curtailment. The pace of growth appeared the most rapid in 2019 when the average export price increased by 129%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2021, and then declined sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Micronesia stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+246.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Mattresses of cellular rubber or plastics

Imports into the Philippines

In 2022, the amount of mattresses of cellular rubber or plastics imported into the Philippines skyrocketed to X units, with an increase of 100% compared with the year before. Over the period under review, imports posted a buoyant increase. The growth pace was the most rapid in 2021 with an increase of 216%. Over the period under review, imports of reached the maximum at X units in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of mattresses of cellular rubber or plastics surged to $X in 2022. In general, imports showed a remarkable increase. The most prominent rate of growth was recorded in 2015 when imports increased by 142%. Over the period under review, imports of hit record highs at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) was the main mattresses of cellular rubber or plastics supplier to the Philippines, with a 93% share of total imports. Moreover, imports of mattresses of cellular rubber or plastics from China exceeded the figures recorded by the second-largest supplier, Indonesia (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China totaled +20.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+306.9% per year) and Denmark (+0.4% per year).

In value terms, China ($X) constituted the largest supplier of mattresses of cellular rubber or plastics to the Philippines, comprising 66% of total imports. The second position in the ranking was held by Denmark ($X), with a 23% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to +22.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+13.5% per year) and Indonesia (+300.8% per year).

Import Prices by Country

The average import price for mattresses of cellular rubber or plastics stood at $X per unit in 2022, surging by 21% against the previous year. In general, the import price, however, showed a mild contraction. The most prominent rate of growth was recorded in 2020 an increase of 187%. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Denmark ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+13.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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