Philippines: Market for Other Plastic Tubes, Pipes and Hoses 2024

Market Size for Other Plastic Tubes, Pipes and Hoses in the Philippines

The Philippine market for other plastic tubes, pipes and hoses contracted to $X in 2022, waning by -7.9% against the previous year. Over the period under review, consumption, however, posted a measured increase. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Production of Other Plastic Tubes, Pipes and Hoses in the Philippines

In value terms, production of other plastic tubes, pipes and hoses declined to $X in 2022 estimated in export price. Overall, production, however, showed perceptible growth. The growth pace was the most rapid in 2015 when the production volume increased by 114%. Over the period under review, production of hit record highs at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Exports of Other Plastic Tubes, Pipes and Hoses

Exports from the Philippines

In 2022, overseas shipments of other plastic tubes, pipes and hoses increased by 159% to X tons, rising for the second consecutive year after two years of decline. Overall, exports, however, saw a abrupt contraction. The pace of growth was the most pronounced in 2018 when exports increased by 209% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, exports of other plastic tubes, pipes and hoses soared to $X in 2022. Over the period under review, exports, however, saw a sharp slump. The pace of growth appeared the most rapid in 2018 when exports increased by 176% against the previous year. Over the period under review, the exports of reached the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Japan (X tons) was the main destination for exports of other plastic tubes, pipes and hoses from the Philippines, accounting for a 94% share of total exports. Moreover, exports of other plastic tubes, pipes and hoses to Japan exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), more than tenfold. Vietnam (X kg) ranked third in terms of total exports with a 0.6% share.

From 2012 to 2022, the average annual growth rate of volume to Japan stood at +30.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (-11.2% per year) and Vietnam (-29.3% per year).

In value terms, Japan ($X) emerged as the key foreign market for other plastic tubes, pipes and hoses exports from the Philippines, comprising 81% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 14% share of total exports. It was followed by Vietnam, with a 1.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan amounted to +22.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (-6.0% per year) and Vietnam (-33.5% per year).

Export Prices by Country

The average export price for other plastic tubes, pipes and hoses stood at $X per ton in 2022, waning by -44.1% against the previous year. Over the period under review, the export price saw a abrupt slump. The pace of growth was the most pronounced in 2020 when the average export price increased by 116%. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to China ($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 Malaysia (+56.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Other Plastic Tubes, Pipes and Hoses

Imports into the Philippines

In 2022, approx. X tons of other plastic tubes, pipes and hoses were imported into the Philippines; increasing by 8.3% compared with 2021. Over the period under review, imports recorded a buoyant expansion. The pace of growth was the most pronounced in 2014 when imports increased by 148%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of other plastic tubes, pipes and hoses rose notably to $X in 2022. Overall, imports posted a strong increase. The most prominent rate of growth was recorded in 2014 when imports increased by 81%. Over the period under review, imports of hit record highs at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest other plastic tubes, pipes and hoses supplier to the Philippines, with a 69% share of total imports. Moreover, imports of other plastic tubes, pipes and hoses from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), more than tenfold. The third position in this ranking was held by Japan (X tons), with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-1.0% per year) and Japan (-3.7% per year).

In value terms, the largest other plastic tubes, pipes and hoses suppliers to the Philippines were China ($X), Japan ($X) and Singapore ($X), together accounting for 65% of total imports. Malaysia, Taiwan (Chinese), South Korea, Iran and Hong Kong SAR lagged somewhat behind, together comprising a further 14%.

Malaysia, with a CAGR of +16.9%, recorded the highest growth rate of the value of imports, among 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 import price for other plastic tubes, pipes and hoses stood at $X per ton in 2022, increasing by 4.3% against the previous year. Overall, import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.1% 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 other plastic tubes, pipes and hoses decreased by -26.7% against 2020 indices. The pace of growth appeared the most rapid in 2015 when the average import price increased by 61% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+35.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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