Report Update Nov 1, 2024

Philippines - Plastic Reservoirs, Tanks and Vats - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Plastic Reservoir Market 2024

Plastic Reservoir Market Size in the Philippines

The Philippine plastic reservoir market expanded notably to $X in 2022, surging by 8.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a prominent increase. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Plastic Reservoir Exports

Exports from the Philippines

In 2022, exports of plastic reservoirs, tanks and vats from the Philippines skyrocketed to X tons, increasing by 302% against 2021 figures. In general, exports posted a significant increase. The most prominent rate of growth was recorded in 2015 when exports increased by 6,662% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, plastic reservoir exports surged to $X in 2022. Over the period under review, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 1,781%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Indonesia (X tons) was the main destination for plastic reservoir exports from the Philippines, with a 77% share of total exports. Moreover, plastic reservoir exports to Indonesia exceeded the volume sent to the second major destination, Japan (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Indonesia totaled +171.0%.

In value terms, Japan ($X) and Indonesia ($X) appeared to be the largest markets for plastic reservoir exported from the Philippines worldwide.

In terms of the main countries of destination, Indonesia, with a CAGR of +128.3%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The average plastic reservoir export price stood at $X per ton in 2022, which is down by -57.5% against the previous year. Overall, the export price continues to indicate a mild slump. The most prominent rate of growth was recorded in 2016 an increase of 235%. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

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 Indonesia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+179.3%), while the prices for the other major destinations experienced mixed trend patterns.

Plastic Reservoir Imports

Imports into the Philippines

In 2022, supplies from abroad of plastic reservoirs, tanks and vats increased by 44% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports recorded prominent growth. The growth pace was the most rapid in 2016 with an increase of 99%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, plastic reservoir imports skyrocketed to $X in 2022. Overall, imports saw a strong expansion. The most prominent rate of growth was recorded in 2016 with an increase of 92% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of plastic reservoir to the Philippines, with a 62% share of total imports. Moreover, plastic reservoir imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), twofold. South Korea (X tons) ranked third in terms of total imports with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +22.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+14.2% per year) and South Korea (+41.8% per year).

In value terms, China ($X), Malaysia ($X) and South Korea ($X) were the largest plastic reservoir suppliers to the Philippines, together accounting for 96% of total imports.

Among the main suppliers, South Korea, with a CAGR of +38.7%, recorded the highest rates of growth with regard to 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 2022, the average plastic reservoir import price amounted to $X per ton, waning by -20.2% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 18%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Malaysia (+4.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for plastic reservoirs, tanks and vats in the world?

China constituted the country with the largest volume of plastic reservoir consumption, comprising approx. 20% of total volume. Moreover, plastic reservoir consumption in China exceeded the figures recorded by the second-largest consumer, the United States, twofold. The third position in this ranking was occupied by India, with an 8.1% share.

What are the largest producers of plastic reservoirs, tanks and vats in the world?

China constituted the country with the largest volume of plastic reservoir production, accounting for 20% of total volume. Moreover, plastic reservoir production in China exceeded the figures recorded by the second-largest producer, the United States, twofold. The third position in this ranking was occupied by India, with an 8% share.

What are the leading suppliers of plastic reservoirs, tanks and vats to the Philippines?

In value terms, China, Malaysia and South Korea constituted the largest plastic reservoir suppliers to the Philippines, together comprising 84% of total imports. These countries were followed by Australia, which accounted for a further 2.2%.

What are the leading importers of plastic reservoirs, tanks and vats from the Philippines?

In value terms, Japan remains the key foreign market for plastic reservoir exports from the Philippines, comprising 95% of total exports. The second position in the ranking was occupied by Germany, with a 1.4% share of total exports.

What is the average export price for plastic reservoirs, tanks and vats in the Philippines?

The average plastic reservoir export price stood at $11,642 per ton in 2021, dropping by -14.8% against the previous year.

What is the average import price for plastic reservoirs, tanks and vats in the Philippines?

The average plastic reservoir import price stood at $3,381 per ton in 2021, picking up by 8.5% against the previous year.

This report provides an in-depth analysis of the plastic reservoir market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 22231300 - Plastic reservoirs, tanks, vats, intermediate bulk and similar containers, of a capacity > .300 litres

Country coverage:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023