Philippines: Market for Parts For Electric Filament Or Discharge Lamps 2024

Market Size for Parts For Electric Filament Or Discharge Lamps in the Philippines

After two years of decline, the Philippine electric filament lamp parts market increased by 8.7% to $X in 2022. In general, consumption, however, showed a abrupt shrinkage. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Exports of Parts For Electric Filament Or Discharge Lamps

Exports from the Philippines

In 2022, exports of parts for electric filament or discharge lamps from the Philippines fell notably to X tons, reducing by -59.5% compared with 2021. Over the period under review, exports showed a sharp slump. The pace of growth appeared the most rapid in 2021 when exports increased by 947% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, electric filament lamp parts exports surged to $X in 2022. In general, exports continue to indicate a deep downturn. The growth pace was the most rapid in 2013 with an increase of 489%. Over the period under review, the exports reached the peak figure 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 electric filament lamp parts exports from the Philippines, accounting for a 90% share of total exports. Moreover, electric filament lamp parts exports to Japan exceeded the volume sent to the second major destination, Taiwan (Chinese) (X kg), more than tenfold. The third position in this ranking was held by China (X kg), with a 1.7% share.

From 2012 to 2022, the average annual growth rate of volume to Japan totaled -2.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (-43.0% per year) and China (-7.5% per year).

In value terms, Japan ($X) emerged as the key foreign market for parts for electric filament or discharge lamps exports from the Philippines, comprising 96% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 1.7% share of total exports. It was followed by China, with a 1.4% share.

From 2012 to 2022, the average annual growth rate of value to Japan amounted to +2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (-34.1% per year) and China (-2.3% per year).

Export Prices by Country

In 2022, the average electric filament lamp parts export price amounted to $X per ton, jumping by 235% against the previous year. In general, the export price continues to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 an increase of 242%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 Taiwan (Chinese) (+15.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Parts For Electric Filament Or Discharge Lamps

Imports into the Philippines

After three years of decline, purchases abroad of parts for electric filament or discharge lamps increased by 7.9% to X tons in 2022. Over the period under review, imports, however, recorded a abrupt contraction. The pace of growth appeared the most rapid in 2015 when imports increased by 70%. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, electric filament lamp parts imports expanded slightly to $X in 2022. In general, imports recorded a mild expansion. The growth pace was the most rapid in 2018 when imports increased by 84% against the previous year. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), Taiwan (Chinese) (X tons) and South Korea (X tons) were the main suppliers of electric filament lamp parts imports to the Philippines, together accounting for 95% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of +0.1%), while imports for the other leaders experienced a decline.

In value terms, China ($X) constituted the largest supplier of parts for electric filament or discharge lamps to the Philippines, comprising 52% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with an 18% share of total imports. It was followed by Japan, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+13.9% per year) and Japan (-4.0% per year).

Import Prices by Country

The average electric filament lamp parts import price stood at $X per ton in 2022, with a decrease of -4.1% against the previous year. Over the period under review, the import price, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2016 when the average import price increased by 112% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2021, and then reduced slightly in the following year.

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 Japan (+24.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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