Philippines: Market for Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards 2024

Market Size for Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards in the Philippines

The Philippine non-woven glass fibre articles market soared to $X in 2021, growing by 32% 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 showed a prominent expansion. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Exports of Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards

Exports from the Philippines

In 2021, shipments abroad of non-woven glass fibre webs, felts, mattresses and boards increased by 343% to X tons, rising for the second year in a row after two years of decline. Overall, exports, however, saw a relatively flat trend pattern. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, non-woven glass fibre articles exports surged to $X in 2021. In general, exports, however, showed a slight downturn. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Pakistan (X tons) was the main destination for non-woven glass fibre articles exports from the Philippines, accounting for a 99% share of total exports. It was followed by China (X kg), with a 0.8% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Pakistan totaled -10.5%.

In value terms, Pakistan ($X) remains the key foreign market for non-woven glass fibre webs, felts, mattresses and boards exports from the Philippines, comprising 94% of total exports. The second position in the ranking was held by China ($X), with a 5.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Pakistan amounted to +6.3%.

Export Prices by Country

In 2021, the average non-woven glass fibre articles export price amounted to $X per ton, which is down by -29.1% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 205% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was China ($X per ton), while the average price for exports to Pakistan amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+44.3%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards

Imports into the Philippines

In 2021, approx. X tons of non-woven glass fibre webs, felts, mattresses and boards were imported into the Philippines; picking up by 15% against 2020 figures. Overall, imports recorded notable growth. The most prominent rate of growth was recorded in 2017 with an increase of 205% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, non-woven glass fibre articles imports surged to $X in 2021. In general, imports recorded a prominent expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 159% against the previous year. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) was the main non-woven glass fibre articles supplier to the Philippines, with a 93% share of total imports. Moreover, non-woven glass fibre articles imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+12.5% per year) and Thailand (-29.2% per year).

In value terms, China ($X) constituted the largest supplier of non-woven glass fibre webs, felts, mattresses and boards to the Philippines, comprising 89% of total imports. The second position in the ranking was taken by South Korea ($X), with a 2.8% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China stood at +14.1%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+19.8% per year) and Thailand (-20.9% per year).

Import Prices by Country

The average non-woven glass fibre articles import price stood at $X per ton in 2021, picking up by 31% against the previous year. In general, import price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +9.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, non-woven glass fibre articles import price increased by +36.3% against 2019 indices. The growth pace was the most rapid in 2015 when the average import price increased by 46% against the previous year. As a result, import price reached the peak level of $X per ton; afterwards, it flattened through to 2021.

Prices varied noticeably country of origin: the country with the highest price was Thailand ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+11.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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