Philippines: Market for Non-Cellular Plates, Sheets, Film, Foil and Strip of Plastics 2024

Market Size for Non-Cellular Plates, Sheets, Film, Foil and Strip of Plastics in the Philippines

The Philippine market for non-cellular plates, sheets, film, foil and strip of plastics declined modestly to $X in 2022, waning by -4.3% 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). The market value increased at an average annual rate of +1.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Consumption of peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Exports of Non-Cellular Plates, Sheets, Film, Foil and Strip of Plastics

Exports from the Philippines

In 2022, approx. X tons of non-cellular plates, sheets, film, foil and strip of plastics were exported from the Philippines; increasing by 110% on the previous year's figure. In general, exports showed a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of 1,194%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, exports of non-cellular plates, sheets, film, foil and strip of plastics soared to $X in 2022. Overall, exports showed a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 1,001%. Over the period under review, the exports of hit record highs in 2022 and are likely to see gradual growth in the near future.

Exports by Country

China (X tons) was the main destination for exports of non-cellular plates, sheets, film, foil and strip of plastics from the Philippines, accounting for a 96% share of total exports. Moreover, exports of non-cellular plates, sheets, film, foil and strip of plastics to China exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), more than tenfold. Malaysia (X kg) ranked third in terms of total exports with less than 0.1% share.

From 2012 to 2022, the average annual growth rate of volume to China stood at +100.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+96.4% per year) and Malaysia (-37.4% per year).

In value terms, China ($X) remains the key foreign market for non-cellular plates, sheets, film, foil and strip of plastics exports from the Philippines, comprising 92% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 7.6% share of total exports. It was followed by Malaysia, with less than 0.1% share.

From 2012 to 2022, the average annual growth rate of value to China stood at +88.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+91.1% per year) and Malaysia (-33.6% per year).

Export Prices by Country

In 2022, the average export price for non-cellular plates, sheets, film, foil and strip of plastics amounted to $X per ton, which is down by -13.2% against the previous year. Overall, the export price saw a deep reduction. The pace of growth was the most pronounced in 2018 when the average export price increased by 181%. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+7.9%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Non-Cellular Plates, Sheets, Film, Foil and Strip of Plastics

Imports into the Philippines

In 2022, approx. X tons of non-cellular plates, sheets, film, foil and strip of plastics were imported into the Philippines; remaining stable against 2021 figures. The total import volume increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 with an increase of 41% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, imports of non-cellular plates, sheets, film, foil and strip of plastics rose remarkably to $X in 2022. Overall, total imports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +30.2% against 2020 indices. The pace of growth appeared the most rapid in 2016 when imports increased by 24%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

China (X tons), Thailand (X tons) and Indonesia (X tons) were the main suppliers of imports of non-cellular plates, sheets, film, foil and strip of plastics to the Philippines, together accounting for 76% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +13.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) constituted the largest supplier of non-cellular plates, sheets, film, foil and strip of plastics to the Philippines, comprising 38% of total imports. The second position in the ranking was taken by China ($X), with a 14% share of total imports. It was followed by Indonesia, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Thailand stood at +14.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+17.5% per year) and Indonesia (+1.1% per year).

Import Prices by Country

The average import price for non-cellular plates, sheets, film, foil and strip of plastics stood at $X per ton in 2022, growing by 4.6% against the previous year. In general, import price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for non-cellular plates, sheets, film, foil and strip of plastics decreased by -9.6% against 2018 indices. The growth pace was the most rapid in 2018 when the average import price increased by 40%. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform