Philippines: Market for Plasticised Mixed Polyvinyl Chloride in Primary Forms 2024

Market Size for Plasticised Mixed Polyvinyl Chloride in Primary Forms in the Philippines

The Philippine market for plasticised mixed polyvinyl chloride in primary forms amounted to $X in 2022, picking up by 7.6% against the previous year. Overall, consumption showed a resilient expansion. Consumption of peaked in 2022 and is expected to retain growth in years to come.

Production of Plasticised Mixed Polyvinyl Chloride in Primary Forms in the Philippines

In value terms, production of plasticised mixed polyvinyl chloride in primary forms totaled $X in 2022 estimated in export price. Over the period under review, the total production indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.9% 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 -4.3% against 2020 indices. The pace of growth was the most pronounced in 2020 when the production volume increased by 21% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production of growth failed to regain momentum.

Exports of Plasticised Mixed Polyvinyl Chloride in Primary Forms

Exports from the Philippines

In 2022, shipments abroad of plasticised mixed polyvinyl chloride in primary forms decreased by -24% to X tons, falling for the ninth consecutive year after two years of growth. Overall, exports continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2013 with an increase of 31% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of plasticised mixed polyvinyl chloride in primary forms contracted to $X in 2022. In general, exports showed a drastic downturn. The most prominent rate of growth was recorded in 2013 with an increase of 25%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

China (X tons), Vietnam (X tons) and Taiwan (Chinese) (X tons) were the main destinations of exports of plasticised mixed polyvinyl chloride in primary forms from the Philippines, together comprising 97% of total exports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of -9.3%), while shipments for the other leaders experienced a decline.

In value terms, China ($X), Vietnam ($X) and Taiwan (Chinese) ($X) were the largest markets for plasticised mixed polyvinyl chloride in primary forms exported from the Philippines worldwide, with a combined 97% share of total exports.

Among the main countries of destination, Taiwan (Chinese), with a CAGR of -6.7%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average export price for plasticised mixed polyvinyl chloride in primary forms stood at $X per ton in 2022, growing by 19% against the previous year. Over the period under review, export price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for plasticised mixed polyvinyl chloride in primary forms increased by +53.0% against 2020 indices. The pace of growth was the most pronounced in 2016 an increase of 35%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Japan ($X per ton) and Thailand ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plasticised Mixed Polyvinyl Chloride in Primary Forms

Imports into the Philippines

In 2022, overseas purchases of plasticised mixed polyvinyl chloride in primary forms increased by 17% to X tons, rising for the third consecutive year after two years of decline. In general, imports continue to indicate a prominent increase. The pace of growth was the most pronounced in 2016 when imports increased by 97% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, imports of plasticised mixed polyvinyl chloride in primary forms expanded markedly to $X in 2022. Overall, imports recorded resilient growth. The growth pace was the most rapid in 2016 with an increase of 91%. Over the period under review, imports of reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest plasticised mixed polyvinyl chloride in primary forms supplier to the Philippines, with a 69% share of total imports. Moreover, imports of plasticised mixed polyvinyl chloride in primary forms from China exceeded the figures recorded by the second-largest supplier, Singapore (X tons), eightfold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 5.5% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +12.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+17.5% per year) and Taiwan (Chinese) (+1.9% per year).

In value terms, China ($X) constituted the largest supplier of plasticised mixed polyvinyl chloride in primary forms to the Philippines, comprising 57% of total imports. The second position in the ranking was taken by Singapore ($X), with a 10% share of total imports. It was followed by Vietnam, with a 6.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +14.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+20.7% per year) and Vietnam (+81.2% per year).

Import Prices by Country

In 2022, the average import price for plasticised mixed polyvinyl chloride in primary forms amounted to $X per ton, waning by -2.2% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2018 when the average import price increased by 38% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+11.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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