Philippines: Market for Plastic Plates, Sheets, Film, Foil And Strip 2024

Market Size for Plastic Plates, Sheets, Film, Foil And Strip in the Philippines

In 2021, the Philippine market for plastic plates, sheets, film, foil and strip was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption enjoyed strong growth. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in the near future.

Exports of Plastic Plates, Sheets, Film, Foil And Strip

Exports from the Philippines

For the third consecutive year, the Philippines recorded growth in overseas shipments of plastic plates, sheets, film, foil and strip, which increased by 50% to X tons in 2021. In general, exports recorded a temperate expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 538% against the previous year. Over the period under review, the exports of attained the maximum at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, exports of plastic plates, sheets, film, foil and strip soared to $X in 2021. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 560% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons) was the main destination for exports of plastic plates, sheets, film, foil and strip from the Philippines, accounting for a 62% share of total exports. Moreover, exports of plastic plates, sheets, film, foil and strip to Japan exceeded the volume sent to the second major destination, Australia (X tons), threefold. The third position in this ranking was taken by China (X tons), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Japan totaled +12.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+66.3% per year) and China (+49.1% per year).

In value terms, Japan ($X) remains the key foreign market for plastic plates, sheets, film, foil and strip exports from the Philippines, comprising 64% of total exports. The second position in the ranking was taken by Australia ($X), with a 16% share of total exports. It was followed by China, with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Japan stood at +9.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+42.8% per year) and China (+35.8% per year).

Export Prices by Country

The average export price for plastic plates, sheets, film, foil and strip stood at $X per ton in 2021, declining by -2.8% against the previous year. Over the period under review, the export price continues to indicate a noticeable decline. The growth pace was the most rapid in 2015 when the average export price increased by 21%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+18.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plastic Plates, Sheets, Film, Foil And Strip

Imports into the Philippines

In 2021, the amount of plastic plates, sheets, film, foil and strip imported into the Philippines rose markedly to X tons, surging by 6.9% against 2020. Over the period under review, total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -4.0% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 59% against the previous year. Over the period under review, imports of hit record highs at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of plastic plates, sheets, film, foil and strip soared to $X in 2021. Overall, imports showed a strong increase. The pace of growth was the most pronounced in 2016 with an increase of 51%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of plastic plate, sheet, film, foil and strip to the Philippines, accounting for a 52% share of total imports. Moreover, imports of plastic plates, sheets, film, foil and strip from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), fivefold. The third position in this ranking was held by South Korea (X tons), with an 8.2% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+7.8% per year) and South Korea (+16.1% per year).

In value terms, China ($X), Japan ($X) and South Korea ($X) appeared to be the largest plastic plate, sheet, film, foil and strip suppliers to the Philippines, together comprising 60% of total imports.

In terms of the main suppliers, Japan, with a CAGR of +21.5%, saw 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

In 2021, the average import price for plastic plates, sheets, film, foil and strip amounted to $X per ton, with an increase of 13% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.8%. The growth pace was the most rapid in 2017 an increase of 20%. The import price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: 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 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+13.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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