Philippines: Modelling Pastes Market 2024

Modelling Pastes Market Size in the Philippines

In 2021, the Philippine modelling pastes market decreased by -14.1% to $X, falling for the fourth year in a row after three years of growth. Overall, consumption, however, showed a modest increase. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Modelling Pastes Exports

Exports from the Philippines

In 2021, overseas shipments of modelling pastes, dental wax and dental impression compounds were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports showed buoyant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, modelling pastes exports soared to $X in 2021. Overall, exports saw prominent growth. The growth pace was the most rapid in 2018 with an increase of 52%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The United Arab Emirates (X tons), Vietnam (X tons) and South Korea (X tons) were the main destinations of modelling pastes exports from the Philippines, together accounting for 97% of total exports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +702.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), South Korea ($X) and the United Arab Emirates ($X) were the largest markets for modelling pastes exported from the Philippines worldwide, together comprising 94% of total exports.

Vietnam, with a CAGR of +319.8%, recorded the highest growth rate of the value of exports, among 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

In 2021, the average modelling pastes export price amounted to $X per ton, with a decrease of -74.2% against the previous year. Overall, the export price recorded a slight decline. The growth pace was the most rapid in 2019 when the average export price increased by 170%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2020, and then dropped dramatically in the following year.

There were significant differences in the average prices for the major external markets. In 2021, among the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+10.6%), while the prices for the other major destinations experienced a decline.

Modelling Pastes Imports

Imports into the Philippines

In 2021, approx. X tons of modelling pastes, dental wax and dental impression compounds were imported into the Philippines; almost unchanged from the previous year's figure. Over the period under review, imports, however, continue to indicate slight growth. The most prominent rate of growth was recorded in 2019 with an increase of 37% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, modelling pastes imports reduced markedly to $X in 2021. Overall, imports, however, recorded a measured increase. The pace of growth was the most pronounced in 2017 with an increase of 244% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Thailand (X tons), China (X tons) and Germany (X tons) were the main suppliers of modelling pastes imports to the Philippines, together accounting for 85% of total imports. These countries were followed by Italy, Malaysia, Spain, Switzerland and the United States, which together accounted for a further 13%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +173.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Germany ($X) and China ($X) were the largest modelling pastes suppliers to the Philippines, together comprising 59% of total imports. Switzerland, the United States, Italy, Spain and Malaysia lagged somewhat behind, together comprising a further 27%.

Among the main suppliers, Spain, with a CAGR of +66.4%, 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

The average modelling pastes import price stood at $X per ton in 2021, dropping by -17.8% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average import price increased by 184% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, among the top suppliers, the country with the highest price was Switzerland ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :