Philippines: Market for Rigid Tubes, Pipes and Hoses, of Other Polymers 2024

Market Size for Rigid Tubes, Pipes and Hoses, of Other Polymers in the Philippines

In 2022, the Philippine market for rigid tubes, pipes and hoses, of other polymers increased by 57% to $X, rising for the third year in a row after four years of decline. Over the period under review, consumption enjoyed buoyant growth. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Exports of Rigid Tubes, Pipes and Hoses, of Other Polymers

Exports from the Philippines

In 2022, shipments abroad of rigid tubes, pipes and hoses, of other polymers was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, showed a significant decline. The growth pace was the most rapid in 2017 when exports increased by 198%. Over the period under review, the exports of reached the maximum at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of rigid tubes, pipes and hoses, of other polymers soared to $X in 2022. In general, exports, however, continue to indicate a precipitous curtailment. The pace of growth appeared the most rapid in 2017 when exports increased by 328% against the previous year. Over the period under review, the exports of attained the maximum at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Italy (X tons), Palau (X tons) and Japan (X tons) were the main destinations of exports of rigid tubes, pipes and hoses, of other polymers from the Philippines, together accounting for 91% 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 Palau (with a CAGR of +8,409.1%), while the other leaders experienced mixed trend patterns.

In value terms, Italy ($X), Palau ($X) and Japan ($X) constituted the largest markets for rigid tubes, pipes and hoses, of other polymers exported from the Philippines worldwide, with a combined 89% share of total exports.

In terms of the main countries of destination, Palau, with a CAGR of +5,115.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average export price for rigid tubes, pipes and hoses, of other polymers stood at $X per ton in 2022, increasing by 16% against the previous year. Overall, the export price posted a temperate increase. The pace of growth was the most pronounced in 2021 when the average export price increased by 85%. Over the period under review, the average export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Thailand ($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 Italy (+25.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Rigid Tubes, Pipes and Hoses, of Other Polymers

Imports into the Philippines

In 2022, purchases abroad of rigid tubes, pipes and hoses, of other polymers increased by 59% to X tons, rising for the second consecutive year after five years of decline. In general, imports recorded buoyant growth. The most prominent rate of growth was recorded in 2015 when imports increased by 550%. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of rigid tubes, pipes and hoses, of other polymers surged to $X in 2022. Overall, imports posted a resilient increase. The most prominent rate of growth was recorded in 2015 with an increase of 431%. Over the period under review, imports of hit record highs at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of rigid tubes, pipes and hoses, of other polymers to the Philippines, with a 69% share of total imports. Moreover, imports of rigid tubes, pipes and hoses, of other polymers from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), sevenfold. Germany (X tons) ranked third in terms of total imports with a 4.8% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +12.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+17.3% per year) and Germany (+19.4% per year).

In value terms, China ($X) constituted the largest supplier of rigid tubes, pipes and hoses, of other polymers to the Philippines, comprising 33% of total imports. The second position in the ranking was held by the United States ($X), with a 16% share of total imports. It was followed by Germany, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +24.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+22.8% per year) and Germany (+29.2% per year).

Import Prices by Country

In 2022, the average import price for rigid tubes, pipes and hoses, of other polymers amounted to $X per ton, with a decrease of -3.9% against the previous year. Over the period under review, the import price, however, recorded temperate growth. The pace of growth was the most pronounced in 2016 when the average import price increased by 234% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 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 ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+21.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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