Philippines: Moulds For Metal Market 2024

Moulds For Metal Market Size in the Philippines

The Philippine moulds for metal market reduced to $X in 2022, dropping by -12.4% 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). In general, consumption, however, saw a buoyant increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Moulds For Metal Exports

Exports from the Philippines

In 2022, shipments abroad of moulds for metals increased by 77% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports showed a resilient expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 231%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the immediate term.

In value terms, moulds for metal exports amounted to $X in 2022. Over the period under review, exports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 314%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Japan (X tons) was the main destination for moulds for metal exports from the Philippines, accounting for a 87% share of total exports. Moreover, moulds for metal exports to Japan exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), more than tenfold. The third position in this ranking was held by Thailand (X tons), with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan totaled +18.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+21.5% per year) and Thailand (+14.0% per year).

In value terms, Japan ($X) remains the key foreign market for moulds for metals exports from the Philippines, comprising 88% of total exports. The second position in the ranking was held by Thailand ($X), with a 4% share of total exports. It was followed by Hong Kong SAR, with a 3.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan stood at +18.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+21.5% per year) and Hong Kong SAR (+31.3% per year).

Export Prices by Country

In 2022, the average moulds for metal export price amounted to $X per ton, waning by -36.1% against the previous year. Over the period under review, the export price, however, enjoyed tangible growth. The pace of growth was the most pronounced in 2015 when the average export price increased by 64% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Thailand ($X per ton) and Japan ($X per ton), while the average price for exports to China ($X per ton) and Hong Kong SAR ($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 China (+12.8%), while the prices for the other major destinations experienced more modest paces of growth.

Moulds For Metal Imports

Imports into the Philippines

In 2022, moulds for metal imports into the Philippines dropped to X tons, waning by -7.3% against 2021 figures. Overall, imports, however, showed measured growth. The pace of growth appeared the most rapid in 2014 when imports increased by 62% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, moulds for metal imports declined to $X in 2022. In general, imports, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2014 when imports increased by 62% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of moulds for metal to the Philippines, with a 67% share of total imports. Moreover, moulds for metal imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), fivefold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +13.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+5.5% per year) and Taiwan (Chinese) (-8.2% per year).

In value terms, China ($X), Japan ($X) and Taiwan (Chinese) ($X) appeared to be the largest moulds for metal suppliers to the Philippines, together comprising 85% of total imports.

China, with a CAGR of +25.3%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average moulds for metal import price stood at $X per ton in 2022, with an increase of 2.5% against the previous year. In general, the import price saw a resilient expansion. The pace of growth was the most pronounced in 2016 an increase of 50%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain 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 Japan ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+15.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform