Philippines: Metal Cutting Shear Market 2025

Metal Cutting Shear Market Size in the Philippines

The Philippine metal cutting shear market shrank to $X in 2022, with a decrease of -12.5% 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). Overall, consumption, however, continues to indicate pronounced growth. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Metal Cutting Shear Exports

Exports from the Philippines

In 2022, overseas shipments of metal cutting shears and similar hand tools increased by 732% to X kg for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, saw a deep downturn. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, metal cutting shear exports soared to $X in 2022. In general, exports, however, faced a abrupt shrinkage. The pace of growth was the most pronounced in 2017 when exports increased by 1,459% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Vietnam (X kg) was the main destination for metal cutting shear exports from the Philippines, with a 70% share of total exports. Moreover, metal cutting shear exports to Vietnam exceeded the volume sent to the second major destination, the United States (X kg), fourfold. The third position in this ranking was taken by India (X kg), with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Vietnam stood at +68.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-29.1% per year) and India (0.0% per year).

In value terms, Vietnam ($X) emerged as the key foreign market for metal cutting shears and similar hand tools exports from the Philippines, comprising 70% of total exports. The second position in the ranking was held by the United States ($X), with a 19% share of total exports. It was followed by India, with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Vietnam stood at +115.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-6.8% per year) and India (0.0% per year).

Export Prices by Country

In 2022, the average metal cutting shear export price amounted to $X per ton, picking up by 2.8% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2017 when the average export price increased by 223% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Japan ($X per ton) and Singapore ($X per ton), while the average price for exports to India ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+54.0%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Cutting Shear Imports

Imports into the Philippines

In 2022, metal cutting shear imports into the Philippines plummeted to X tons, with a decrease of -20.8% against the year before. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 134% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, metal cutting shear imports shrank to $X in 2022. Over the period under review, imports, however, enjoyed a strong increase. The pace of growth appeared the most rapid in 2021 with an increase of 81%. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest metal cutting shear supplier to the Philippines, with a 52% share of total imports. Moreover, metal cutting shear imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. Italy (X tons) ranked third in terms of total imports with a 9% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+3.4% per year) and Italy (+4.7% per year).

In value terms, the largest metal cutting shear suppliers to the Philippines were Japan ($X), China ($X) and the United States ($X), with a combined 70% share of total imports. Vietnam, Italy, Taiwan (Chinese), Singapore, South Korea and Thailand lagged somewhat behind, together accounting for a further 21%.

In terms of the main suppliers, Vietnam, with a CAGR of +55.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average metal cutting shear import price amounted to $X per ton, surging by 18% against the previous year. Over the period under review, the import price recorded prominent growth. The pace of growth was the most pronounced in 2016 an increase of 67% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+25.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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