Philippines: Encased Lead Pencil Market 2024

Encased Lead Pencil Market Size in the Philippines

In 2021, the Philippine encased lead pencil market decreased by -0.6% to $X for the first time since 2014, thus ending a six-year rising trend. Overall, consumption, however, enjoyed a buoyant increase. Over the period under review, the market hit record highs at $X in 2020, and then dropped modestly in the following year.

Encased Lead Pencil Production in the Philippines

In value terms, encased lead pencil production declined slightly to $X in 2021 estimated in export price. Overall, production, however, recorded a strong increase. The most prominent rate of growth was recorded in 2017 with an increase of 81% against the previous year. Encased lead pencil production peaked at $X in 2020, and then reduced in the following year.

Encased Lead Pencil Exports

Exports from the Philippines

In 2021, overseas shipments of pencils and crayons with leads encased in a rigid sheath decreased by -21.8% to X units, falling for the fifth consecutive year after three years of growth. Overall, exports, however, showed significant growth. The pace of growth was the most pronounced in 2014 when exports increased by 846%. Over the period under review, the exports reached the peak figure at X units in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, encased lead pencil exports contracted notably to $X in 2021. Over the period under review, exports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2014 when exports increased by 1,253%. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for encased lead pencil exports from the Philippines, with a 94% share of total exports. Moreover, encased lead pencil exports to the United States exceeded the volume sent to the second major destination, Vietnam (X units), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +30.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+30.8% per year) and China (-10.8% per year).

In value terms, the United States ($X) remains the key foreign market for encased lead pencil exports from the Philippines, comprising 88% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 9.2% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +33.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+28.1% per year) and China (-3.7% per year).

Export Prices by Country

The average encased lead pencil export price stood at $X per unit in 2021, waning by -46.1% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 134%. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Vietnam ($X per unit), while the average price for exports to the United States ($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 China (+7.9%), while the prices for the other major destinations experienced mixed trend patterns.

Encased Lead Pencil Imports

Imports into the Philippines

Encased lead pencil imports into the Philippines shrank rapidly to X units in 2021, declining by -28.7% compared with the year before. In general, imports showed a slight contraction. The pace of growth appeared the most rapid in 2014 with an increase of 53%. Over the period under review, imports reached the maximum at X units in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, encased lead pencil imports shrank sharply to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 75%. Imports peaked at $X in 2020, and then declined significantly in the following year.

Imports by Country

In 2021, China (X units) constituted the largest encased lead pencil supplier to the Philippines, accounting for a 84% share of total imports. Moreover, encased lead pencil imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold. The third position in this ranking was taken by Indonesia (X units), with a 3.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+7.8% per year) and Indonesia (-10.3% per year).

In value terms, China ($X), the United States ($X) and Indonesia ($X) constituted the largest encased lead pencil suppliers to the Philippines, together accounting for 74% of total imports. These countries were followed by Mexico, Thailand and Vietnam, which together accounted for a further 14%.

Among the main suppliers, Mexico, with a CAGR of +63.2%, 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

In 2021, the average encased lead pencil import price amounted to $X per unit, shrinking by -45.8% against the previous year. Over the period under review, the import price, however, recorded a measured increase. The most prominent rate of growth was recorded in 2020 an increase of 88% against the previous year. As a result, import price reached the peak level of $X per unit, and then reduced remarkably in the following year.

Prices varied noticeably country of origin: the country with the highest price was Mexico ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+20.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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