Philippines: Non-Hydraulic Press Market 2024

Non-Hydraulic Press Market Size in the Philippines

In 2021, the Philippine non-hydraulic press market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption enjoyed a temperate expansion. Non-hydraulic press consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Non-Hydraulic Press Exports

Exports from the Philippines

In 2021, approx. X units of non-hydraulic presses for working metal were exported from the Philippines; shrinking by -23.8% against 2020. In general, exports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 15,675%. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, non-hydraulic press exports soared to $X in 2021. Over the period under review, exports continue to indicate a abrupt decline. The pace of growth was the most pronounced in 2017 with an increase of 127,530% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Malaysia (X units), Australia (X units) and Taiwan (Chinese) (X units) were the main destinations of non-hydraulic press exports from the Philippines, together comprising 95% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malaysia (with a CAGR of +19,200.0%), while the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X) emerged as the key foreign market for non-hydraulic presses for working metal exports from the Philippines, comprising 83% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 9.6% share of total exports. It was followed by India, with a 6% share.

From 2012 to 2021, the average annual growth rate of value to Malaysia stood at +28,744.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+80.3% per year) and India (+121.6% per year).

Export Prices by Country

The average non-hydraulic press export price stood at $X per unit in 2021, jumping by 180% against the previous year. In general, the export price saw a temperate expansion. The pace of growth appeared the most rapid in 2017 when the average export price increased by 726%. Over the period under review, the average export prices reached the maximum at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to Australia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+49.7%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Hydraulic Press Imports

Imports into the Philippines

After two years of decline, supplies from abroad of non-hydraulic presses for working metal increased by 63% to X units in 2021. Over the period under review, imports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 209% against the previous year. Over the period under review, imports attained the maximum at X units in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, non-hydraulic press imports contracted significantly to $X in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 54%. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest non-hydraulic press supplier to the Philippines, with a 75% share of total imports. Moreover, non-hydraulic press imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X units), sevenfold. Taiwan (Chinese) (X units) ranked third in terms of total imports with a 4.1% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +64.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+6.8% per year) and Taiwan (Chinese) (-4.5% per year).

In value terms, the largest non-hydraulic press suppliers to the Philippines were China ($X), Japan ($X) and Malaysia ($X), together comprising 56% of total imports.

Among the main suppliers, China, with a CAGR of +16.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average non-hydraulic press import price stood at $X per unit in 2021, with a decrease of -64.9% against the previous year. Overall, the import price saw a deep setback. The pace of growth was the most pronounced in 2020 an increase of 111%. The import price peaked at $X per unit in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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