Philippines: Prisms And Mirrors Market 2025

Prisms And Mirrors Market Size in the Philippines

In 2022, the Philippine prisms and mirrors market increased by 112% to $X, rising for the second year in a row after two years of decline. In general, consumption showed a significant increase. Prisms and mirrors consumption peaked in 2022 and is expected to retain growth in the immediate term.

Prisms And Mirrors Production in the Philippines

In value terms, prisms and mirrors production fell to $X in 2022 estimated in export price. Over the period under review, production recorded a slight setback. The growth pace was the most rapid in 2014 when the production volume increased by 115% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Prisms And Mirrors Exports

Exports from the Philippines

In 2022, shipments abroad of prisms and mirrors decreased by -48.1% to X tons, falling for the second year in a row after two years of growth. Overall, exports faced a abrupt shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 304% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, prisms and mirrors exports reduced dramatically to $X in 2022. Over the period under review, exports saw a abrupt slump. The growth pace was the most rapid in 2017 with an increase of 81% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons), China (X tons) and India (X tons) were the main destinations of prisms and mirrors exports from the Philippines, with a combined 78% share of total exports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +69.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and Hong Kong SAR ($X) were the largest markets for prisms and mirrors exported from the Philippines worldwide, together accounting for 77% of total exports. India, Germany, Malaysia, the United States and Vietnam lagged somewhat behind, together comprising a further 15%.

India, with a CAGR of +49.6%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average prisms and mirrors export price amounted to $X per ton, rising by 55% against the previous year. In general, the export price, however, recorded a perceptible decline. The pace of growth appeared the most rapid in 2014 when the average export price increased by 89%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to India ($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 Hong Kong SAR (+9.4%), while the prices for the other major destinations experienced mixed trend patterns.

Prisms And Mirrors Imports

Imports into the Philippines

For the fourth year in a row, the Philippines recorded growth in purchases abroad of prisms and mirrors, which increased by 249% to X tons in 2022. Over the period under review, imports showed a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 324% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, prisms and mirrors imports soared to $X in 2022. Overall, imports recorded significant growth. The pace of growth was the most pronounced in 2013 when imports increased by 192% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, China (X tons) constituted the largest prisms and mirrors supplier to the Philippines, with a 86% share of total imports. Moreover, prisms and mirrors imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X tons), ninefold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 1.9% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +62.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+61.0% per year) and Taiwan (Chinese) (+28.2% per year).

In value terms, China ($X) constituted the largest supplier of prisms and mirrors to the Philippines, comprising 60% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 19% share of total imports. It was followed by Japan, with a 9.1% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +59.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+62.9% per year) and Japan (+26.3% per year).

Import Prices by Country

In 2022, the average prisms and mirrors import price amounted to $X per ton, reducing by -29.7% against the previous year. Overall, the import price recorded a noticeable contraction. The most prominent rate of growth was recorded in 2018 an increase of 101%. Over the period under review, average import prices hit record highs 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 Taiwan (Chinese) (+16.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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