Report Update Nov 1, 2024

Philippines - Polishes and Creams for Wooden Furniture and Floors - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Wooden Furniture Treatments Market 2024

Wooden Furniture Treatments Market Size in the Philippines

The Philippine wooden furniture treatments market was finally on the rise to reach $X in 2022, after two years of decline. In general, consumption saw moderate growth. Wooden furniture treatments consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Wooden Furniture Treatments Exports

Exports from the Philippines

In 2022, the amount of polishes and creams for wooden furniture and floors exported from the Philippines skyrocketed to X tons, growing by 250% on 2021 figures. Over the period under review, exports, however, saw a noticeable decrease. The pace of growth appeared the most rapid in 2019 when exports increased by 920% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, wooden furniture treatments exports soared to $X in 2022. Overall, exports, however, showed a deep downturn. The pace of growth was the most pronounced in 2019 with an increase of 394% against the previous year. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia (X tons) was the main destination for wooden furniture treatments exports from the Philippines, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Indonesia stood at +7.6%.

In value terms, Indonesia ($X) emerged as the key foreign market for polishes and creams for wooden furniture and floors exports from the Philippines.

From 2012 to 2022, the average annual rate of growth in terms of value to Indonesia stood at +13.7%.

Export Prices by Country

In 2022, the average wooden furniture treatments export price amounted to $X per ton, falling by -54.6% against the previous year. Overall, the export price continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2013 when the average export price decreased by -32.1% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Indonesia.

From 2012 to 2022, the rate of growth in terms of prices for Indonesia amounted to +5.7% per year.

Wooden Furniture Treatments Imports

Imports into the Philippines

In 2022, purchases abroad of polishes and creams for wooden furniture and floors was finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, recorded a pronounced descent. The most prominent rate of growth was recorded in 2017 with an increase of 113%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, wooden furniture treatments imports soared to $X in 2022. Overall, imports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2017 when imports increased by 124% 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 wooden furniture treatments supplier to the Philippines, accounting for a 69% share of total imports. Moreover, wooden furniture treatments imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), sixfold. The third position in this ranking was held by Thailand (X tons), with a 7% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-8.6% per year) and Thailand (+43.4% per year).

In value terms, China ($X) constituted the largest supplier of polishes and creams for wooden furniture and floors to the Philippines, comprising 79% of total imports. The second position in the ranking was held by Brazil ($X), with a 10% share of total imports. It was followed by Thailand, with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (0.0% per year) and Thailand (+22.2% per year).

Import Prices by Country

The average wooden furniture treatments import price stood at $X per ton in 2022, increasing by 18% against the previous year. Over the period under review, the import price enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2015 when the average import price increased by 37%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+17.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for polishes and creams for wooden furniture and floors in the world?

The country with the largest volume of wooden furniture treatments consumption was China, accounting for 26% of total volume. Moreover, wooden furniture treatments consumption in China exceeded the figures recorded by the second-largest consumer, India, threefold. The United States ranked third in terms of total consumption with a 7.8% share.

What are the largest producers of polishes and creams for wooden furniture and floors in the world?

China remains the largest wooden furniture treatments producing country worldwide, comprising approx. 26% of total volume. Moreover, wooden furniture treatments production in China exceeded the figures recorded by the second-largest producer, India, threefold. The United States ranked third in terms of total production with an 8.3% share.

What are the leading suppliers of polishes and creams for wooden furniture and floors to the Philippines?

In value terms, China constituted the largest supplier of wooden furniture treatments to the Philippines, comprising 87% of total imports. The second position in the ranking was occupied by Thailand, with a 6.5% share of total imports. It was followed by the United States, with a 3.9% share.

What are the leading importers of polishes and creams for wooden furniture and floors from the Philippines?

In value terms, Singapore remains the key foreign market for wooden furniture treatments exports from the Philippines.

What is the average export price for polishes and creams for wooden furniture and floors in the Philippines?

The average wooden furniture treatments export price stood at $3,052 per ton in 2021, rising by 11% against the previous year.

What is the average import price for polishes and creams for wooden furniture and floors in the Philippines?

In 2021, the average wooden furniture treatments import price amounted to $3,966 per ton, picking up by 65% against the previous year.

This report provides an in-depth analysis of the wooden furniture treatments 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 20414350 - Polishes, creams and similar preparations, for the maintenance of wooden furniture, floors or other woodwork (excluding artificial and prepared waxes)

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
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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