Philippines: Market for Primary Cells and Batteries 2024

Market Size for Primary Cells and Batteries in the Philippines

The Philippine primary cell and battery market reached $X in 2022, growing by 8.8% against the previous year. Over the period under review, the total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +3.3% 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 +30.1% against 2017 indices. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Primary Cells and Batteries in the Philippines

In value terms, primary cell and battery production amounted to $X in 2022 estimated in export price. In general, production enjoyed a prominent increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by 157%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Exports of Primary Cells and Batteries

Exports from the Philippines

In 2022, approx. X units of primary cells and batteries were exported from the Philippines; waning by -8.8% compared with 2021 figures. In general, exports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2019 when exports increased by 442%. Over the period under review, the exports reached the peak figure at X units in 2021, and then contracted in the following year.

In value terms, primary cell and battery exports soared to $X in 2022. Overall, exports, however, continue to indicate significant growth. The pace of growth was the most pronounced in 2019 with an increase of 778% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

Austria (X units) was the main destination for primary cell and battery exports from the Philippines, accounting for a 69% share of total exports. Moreover, primary cell and battery exports to Austria exceeded the volume sent to the second major destination, France (X units), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Austria totaled +106.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+169.9% per year) and Singapore (+118.5% per year).

In value terms, Austria ($X) remains the key foreign market for primary cells and batteries exports from the Philippines, comprising 66% of total exports. The second position in the ranking was held by France ($X), with a 15% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Austria stood at +124.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+236.6% per year) and Singapore (+117.5% per year).

Export Prices by Country

The average primary cell and battery export price stood at $X per unit in 2022, picking up by 40% against the previous year. In general, the export price recorded a strong expansion. The growth pace was the most rapid in 2013 an increase of 231% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to France ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+24.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Primary Cells and Batteries

Imports into the Philippines

Primary cell and battery imports into the Philippines surged to X units in 2022, growing by 56% against 2021. In general, imports, however, saw a perceptible curtailment. Imports peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, primary cell and battery imports soared to $X in 2022. Overall, imports showed tangible growth. The pace of growth was the most pronounced in 2014 when imports increased by 120%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Indonesia (X units), Singapore (X units) and Vietnam (X units) were the main suppliers of primary cell and battery imports to the Philippines, together comprising 81% of total imports. China, Hong Kong SAR and Malaysia lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +44.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Singapore ($X) and Vietnam ($X) appeared to be the largest primary cell and battery suppliers to the Philippines, with a combined 65% share of total imports. China, Hong Kong SAR and Malaysia lagged somewhat behind, together accounting for a further 25%.

Malaysia, with a CAGR of +41.2%, saw the highest rates of growth with regard to the value of imports, in terms of 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 primary cell and battery import price amounted to $X per unit, with a decrease of -16.7% against the previous year. In general, the import price, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2018 when the average import price increased by 61% against the previous year. The import price peaked at $X per unit in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($X per unit), while the price for Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+13.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform