Philippines: Market for Plastics Pipes And Pipe Fittings 2024

Market Size for Plastics Pipes And Pipe Fittings in the Philippines

In 2022, the Philippine market for plastics pipes and pipe fittings decreased by -0.4% to $X, falling for the second consecutive year after two years of growth. Over the period under review, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.0% against 2020 indices. Plastics pipe and pipe fitting consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Production of Plastics Pipes And Pipe Fittings in the Philippines

In value terms, plastics pipe and pipe fitting production reached $X in 2022 estimated in export price. Overall, the total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.4% against 2020 indices. The pace of growth appeared the most rapid in 2015 when the production volume increased by 46%. Plastics pipe and pipe fitting production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Exports of Plastics Pipes And Pipe Fittings

Exports from the Philippines

For the eighth consecutive year, the Philippines recorded growth in shipments abroad of plastics pipes and pipe fittings, which increased by 29% to X tons in 2022. Overall, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 185%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

In value terms, plastics pipe and pipe fitting exports declined markedly to $X in 2022. Over the period under review, exports posted a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 160% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then contracted markedly in the following year.

Exports by Country

Japan (X tons) was the main destination for plastics pipe and pipe fitting exports from the Philippines, with a 93% share of total exports. It was followed by South Korea (X tons), with a 2.7% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Japan amounted to +73.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+67.2% per year) and Indonesia (-3.3% per year).

In value terms, Japan ($X) remains the key foreign market for plastics pipes and pipe fittings exports from the Philippines, comprising 92% of total exports. The second position in the ranking was held by South Korea ($X), with a 2.8% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan stood at +55.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+45.4% per year) and Indonesia (+3.1% per year).

Export Prices by Country

In 2022, the average export price for plastics pipes and pipe fittings amounted to $X per ton, shrinking by -35.2% against the previous year. In general, the export price recorded a pronounced decrease. The pace of growth appeared the most rapid in 2020 when the average export price increased by 102%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Indonesia ($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 Indonesia (+6.7%), while the prices for the other major destinations experienced a decline.

Imports of Plastics Pipes And Pipe Fittings

Imports into the Philippines

After two years of growth, overseas purchases of plastics pipes and pipe fittings decreased by -14.5% to X tons in 2022. In general, imports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2015 with an increase of 94% against the previous year. Imports peaked at X tons in 2021, and then dropped in the following year.

In value terms, plastics pipe and pipe fitting imports expanded significantly to $X in 2022. Overall, imports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 85% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of plastics pipe and pipe fitting to the Philippines, accounting for a 65% share of total imports. Moreover, plastics pipe and pipe fitting imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), fourfold. The third position in this ranking was taken by Malaysia (X tons), with a 3.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +14.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+17.1% per year) and Malaysia (+9.4% per year).

In value terms, China ($X), South Korea ($X) and Japan ($X) constituted the largest plastics pipe and pipe fitting suppliers to the Philippines, with a combined 62% share of total imports. The United States, Germany, Malaysia, Thailand, India, Italy and Taiwan (Chinese) lagged somewhat behind, together comprising a further 23%.

Among the main suppliers, India, with a CAGR of +36.7%, recorded the highest growth rate of the value of imports, 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 plastics pipes and pipe fittings stood at $X per ton in 2022, with an increase of 27% against the previous year. In general, the import price, however, showed a slight reduction. The most prominent rate of growth was recorded in 2016 an increase of 57% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

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 ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :