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

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

The Philippine market for rigid tubes, pipes and hoses of polymers of vinyl chloride totaled $X in 2022, rising by 1.9% against the previous year. Over the period under review, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -8.5% against 2020 indices. Vinyl chloride polymer rigid pipes consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Production of Rigid Tubes, Pipes and Hoses of Polymers of Vinyl Chloride in the Philippines

In value terms, vinyl chloride polymer rigid pipes production rose sharply to $X in 2022 estimated in export price. Over the period under review, the total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -5.3% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of 45%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Rigid Tubes, Pipes and Hoses of Polymers of Vinyl Chloride

Exports from the Philippines

In 2022, approx. X tons of rigid tubes, pipes and hoses of polymers of vinyl chloride were exported from the Philippines; picking up by 92% on the year before. Over the period under review, exports posted a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 12,494% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, vinyl chloride polymer rigid pipes exports soared to $X in 2022. Overall, exports posted a significant increase. The pace of growth was the most pronounced in 2017 when exports increased by 7,577% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

Japan (X tons) was the main destination for vinyl chloride polymer rigid pipes exports from the Philippines, with a 89% share of total exports. Moreover, vinyl chloride polymer rigid pipes exports to Japan exceeded the volume sent to the second major destination, South Korea (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan amounted to +202.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+249.4% per year) and Thailand (+70.5% per year).

In value terms, Japan ($X) remains the key foreign market for rigid tubes, pipes and hoses of polymers of vinyl chloride exports from the Philippines, comprising 74% of total exports. The second position in the ranking was taken by South Korea ($X), with a 9.7% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Japan amounted to +177.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+85.9% per year) and Thailand (+129.3% per year).

Export Prices by Country

The average export price for rigid tubes, pipes and hoses of polymers of vinyl chloride stood at $X per ton in 2022, declining by -22.9% against the previous year. Over the period under review, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vinyl chloride polymer rigid pipes export price decreased by -23.0% against 2020 indices. The pace of growth appeared the most rapid in 2016 an increase of 45% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Japan ($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 Thailand (+34.5%), while the prices for the other major destinations experienced a decline.

Imports of Rigid Tubes, Pipes and Hoses of Polymers of Vinyl Chloride

Imports into the Philippines

Vinyl chloride polymer rigid pipes imports into the Philippines reduced to X tons in 2022, dropping by -5.1% against the previous year. In general, imports, however, recorded prominent growth. The pace of growth was the most pronounced in 2019 when imports increased by 59% against the previous year. Over the period under review, imports attained the maximum at X tons in 2021, and then reduced in the following year.

In value terms, vinyl chloride polymer rigid pipes imports surged to $X in 2022. Over the period under review, imports, however, posted moderate growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest vinyl chloride polymer rigid pipes supplier to the Philippines, accounting for a 56% share of total imports. Moreover, vinyl chloride polymer rigid pipes imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), sixfold. The third position in this ranking was held by India (X tons), with a 9.6% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +18.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-1.7% per year) and India (+75.7% per year).

In value terms, the largest vinyl chloride polymer rigid pipes suppliers to the Philippines were Hong Kong SAR ($X), China ($X) and Japan ($X), together comprising 80% of total imports.

Hong Kong SAR, with a CAGR of +66.7%, recorded the highest rates of growth with regard to 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

In 2022, the average import price for rigid tubes, pipes and hoses of polymers of vinyl chloride amounted to $X per ton, surging by 79% against the previous year. In general, the import price, however, showed a pronounced downturn. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+16.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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