Philippines: Photographic Flashbulb Market 2024

Photographic Flashbulb Market Size in the Philippines

In 2021, the Philippine photographic flashbulb market decreased by -27.5% to $X, falling for the third consecutive year after three years of growth. Overall, consumption, however, recorded a measured increase. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Photographic Flashbulb Production in the Philippines

In value terms, photographic flashbulb production declined slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.5% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2019 with an increase of 4.5% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then dropped modestly in the following year.

Photographic Flashbulb Exports

Exports from the Philippines

In 2021, overseas shipments of photographic flashbulbs and flashcubes decreased by -70.5% to X units for the first time since 2018, thus ending a two-year rising trend. In general, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 1,835%. As a result, the exports reached the peak of X units, and then dropped sharply in the following year.

In value terms, photographic flashbulb exports expanded slightly to $X in 2021. Over the period under review, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 2,127% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Myanmar (X units) was the main destination for photographic flashbulb exports from the Philippines, accounting for a 84% share of total exports. Moreover, photographic flashbulb exports to Myanmar exceeded the volume sent to the second major destination, Japan (X units), more than tenfold. The third position in this ranking was taken by South Korea (X units), with a 7% share.

From 2012 to 2021, the average annual growth rate of volume to Myanmar totaled -74.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+16.7% per year) and South Korea (+11.5% per year).

In value terms, Japan ($X) remains the key foreign market for photographic flashbulbs and flashcubes exports from the Philippines, comprising 70% of total exports. The second position in the ranking was taken by South Korea ($X), with a 23% share of total exports. It was followed by China, with a 3% share.

From 2012 to 2021, the average annual growth rate of value to Japan amounted to +29.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+34.7% per year) and China (+51.5% per year).

Export Prices by Country

In 2021, the average photographic flashbulb export price amounted to $X per unit, with an increase of 246% against the previous year. In general, the export price, however, recorded a abrupt decrease. The export price peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to Myanmar ($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 South Korea (+20.1%), while the prices for the other major destinations experienced more modest paces of growth.

Photographic Flashbulb Imports

Imports into the Philippines

In 2021, overseas purchases of photographic flashbulbs and flashcubes decreased by -41.8% to X units, falling for the third year in a row after three years of growth. In general, imports, however, showed a strong increase. The growth pace was the most rapid in 2016 with an increase of 1,265%. Over the period under review, imports reached the maximum at X units in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, photographic flashbulb imports declined markedly to $X in 2021. Over the period under review, imports, however, enjoyed a buoyant increase. The pace of growth was the most pronounced in 2016 when imports increased by 1,597% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) was the main supplier of photographic flashbulb to the Philippines, accounting for a 92% share of total imports. Moreover, photographic flashbulb imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), more than tenfold. The United States (X units) ranked third in terms of total imports with a 1.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +9.9%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+0.9% per year) and the United States (+4.0% per year).

In value terms, China ($X) constituted the largest supplier of photographic flashbulbs and flashcubes to the Philippines, comprising 23% of total imports. The second position in the ranking was taken by the United States ($X), with a 7.1% share of total imports. It was followed by Malaysia, with a 1.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-0.2% per year) and Malaysia (-11.1% per year).

Import Prices by Country

The average photographic flashbulb import price stood at $X per unit in 2021, declining by -24.5% against the previous year. Over the period under review, the import price, however, posted a modest increase. The pace of growth appeared the most rapid in 2019 when the average import price increased by 93%. Over the period under review, average import prices hit record highs at $X per unit in 2020, and then fell significantly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+2.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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