Philippines: Liquid Dispensing Pump Market 2024

Liquid Dispensing Pump Market Size in the Philippines

The Philippine liquid dispensing pump market declined dramatically to $X in 2021, with a decrease of -24.5% against the previous year. In general, consumption, however, enjoyed a remarkable increase. Over the period under review, the market hit record highs at $X in 2020, and then shrank markedly in the following year.

Liquid Dispensing Pump Production in the Philippines

In value terms, liquid dispensing pump production reduced dramatically to $X in 2021 estimated in export price. Over the period under review, production, however, saw a resilient increase. The pace of growth was the most pronounced in 2013 when the production volume increased by 166%. Over the period under review, production hit record highs at $X in 2020, and then declined markedly in the following year.

Liquid Dispensing Pump Exports

Exports from the Philippines

In 2021, exports of pumps for dispensing liquids from the Philippines skyrocketed to X units, rising by 226% compared with the previous year's figure. Over the period under review, exports, however, showed a abrupt contraction. The pace of growth appeared the most rapid in 2019 when exports increased by 373%. As a result, the exports attained the peak of X units. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, liquid dispensing pump exports soared to $X in 2021. In general, exports, however, continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2018 with an increase of 192%. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Oman (X units) was the main destination for liquid dispensing pump exports from the Philippines, accounting for a 61% share of total exports. Moreover, liquid dispensing pump exports to Oman exceeded the volume sent to the second major destination, Japan (X units), threefold. Singapore (X units) ranked third in terms of total exports with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Oman amounted to +21.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-2.3% per year) and Singapore (+13.6% per year).

In value terms, the largest markets for liquid dispensing pump exported from the Philippines were China ($X), Japan ($X) and Singapore ($X), with a combined 73% share of total exports. These countries were followed by Oman, the United Arab Emirates and South Korea, which together accounted for a further 12%.

The United Arab Emirates, with a CAGR of +23.7%, recorded the highest growth rate of the value of exports, among 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 2021, the average liquid dispensing pump export price amounted to $X per unit, with a decrease of -21.1% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 112%. As a result, the export price reached the peak level of $X per unit. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was China ($X per unit), while the average price for exports to Oman ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+28.3%), while the prices for the other major destinations experienced more modest paces of growth.

Liquid Dispensing Pump Imports

Imports into the Philippines

In 2021, approx. X units of pumps for dispensing liquids were imported into the Philippines; increasing by 124% against the previous year's figure. Over the period under review, imports recorded a prominent increase. Imports peaked at X units in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, liquid dispensing pump imports surged to $X in 2021. Overall, imports recorded buoyant growth. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of liquid dispensing pump to the Philippines, with a 67% share of total imports. Moreover, liquid dispensing pump imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), more than tenfold. The third position in this ranking was taken by Belgium (X units), with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +23.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-4.7% per year) and Belgium (+69.0% per year).

In value terms, Belgium ($X), China ($X) and the United States ($X) appeared to be the largest liquid dispensing pump suppliers to the Philippines, together accounting for 59% of total imports.

Belgium, with a CAGR of +89.9%, saw the highest growth rate of 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

The average liquid dispensing pump import price stood at $X per unit in 2021, growing by 6.3% against the previous year. Overall, the import price, however, continues to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2015 an increase of 58%. The import price peaked at $X per unit in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Belgium ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+20.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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