Philippines: Market for Plates, Sheets, Strips For Floor Covering Of Solid Vulcanised Rubber 2025

Market Size for Plates, Sheets, Strips For Floor Covering Of Solid Vulcanised Rubber in the Philippines

After two years of growth, the Philippine solid vulcanised rubber sheet market decreased by -13.8% to $X in 2022. Over the period under review, the total consumption indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +38.4% against 2019 indices. As a result, consumption reached the peak level of $X, and then contracted in the following year.

Production of Plates, Sheets, Strips For Floor Covering Of Solid Vulcanised Rubber in the Philippines

In value terms, solid vulcanised rubber sheet production rose to $X in 2022 estimated in export price. In general, production, however, showed a perceptible decline. The pace of growth was the most pronounced in 2016 when the production volume increased by 64%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Exports of Plates, Sheets, Strips For Floor Covering Of Solid Vulcanised Rubber

Exports from the Philippines

Solid vulcanised rubber sheet exports from the Philippines declined markedly to X tons in 2022, waning by -87.2% compared with the previous year. Overall, exports recorded a sharp decrease. The pace of growth was the most pronounced in 2018 when exports increased by 64,844% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, solid vulcanised rubber sheet exports fell markedly to $X in 2022. In general, exports faced a drastic downturn. The most prominent rate of growth was recorded in 2018 when exports increased by 17,443% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Taiwan (Chinese) (X kg), Japan (X kg) and China (X kg) were the main destinations of solid vulcanised rubber sheet exports from the Philippines, with a combined 99% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of +36.7%), while the other leaders experienced a decline.

In value terms, Taiwan (Chinese) ($X) remains the key foreign market for plates, sheets, strips for floor covering of solid vulcanised rubber exports from the Philippines, comprising 68% of total exports. The second position in the ranking was held by Japan ($X), with a 22% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Taiwan (Chinese) stood at -24.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+33.6% per year) and China (-30.4% per year).

Export Prices by Country

The average solid vulcanised rubber sheet export price stood at $X per ton in 2022, surging by 120% against the previous year. Over the period under review, the export price saw buoyant growth. The growth pace was the most rapid in 2020 an increase of 215%. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to Japan ($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 China (+10.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Plates, Sheets, Strips For Floor Covering Of Solid Vulcanised Rubber

Imports into the Philippines

Solid vulcanised rubber sheet imports into the Philippines shrank rapidly to X tons in 2022, with a decrease of -29.2% compared with 2021 figures. In general, imports, however, recorded a prominent increase. The growth pace was the most rapid in 2021 with an increase of 289%. As a result, imports reached the peak of X tons, and then fell sharply in the following year.

In value terms, solid vulcanised rubber sheet imports fell notably to $X in 2022. Overall, imports, however, showed a buoyant expansion. The growth pace was the most rapid in 2021 with an increase of 87%. As a result, imports attained the peak of $X, and then declined notably in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of solid vulcanised rubber sheet to the Philippines, accounting for a 86% share of total imports. Moreover, solid vulcanised rubber sheet imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), more than tenfold. Malaysia (X tons) ranked third in terms of total imports with a 2.7% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +29.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+4.8% per year) and Malaysia (+1.7% per year).

In value terms, China ($X), Japan ($X) and Malaysia ($X) were the largest solid vulcanised rubber sheet suppliers to the Philippines, together accounting for 78% of total imports.

China, with a CAGR of +32.4%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers 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 solid vulcanised rubber sheet import price amounted to $X per ton, picking up by 18% against the previous year. Over the period under review, the import price, however, showed a perceptible shrinkage. The pace of growth was the most pronounced in 2018 when the average import price increased by 19%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average 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 Thailand (+12.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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