Philippines: Sealed Beam Market 2024

Sealed Beam Market Size in the Philippines

The Philippine sealed beam market expanded notably to $X in 2022, growing by 6.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption enjoyed a buoyant expansion. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in years to come.

Sealed Beam Exports

Exports from the Philippines

In 2022, sealed beam exports from the Philippines dropped to X units, declining by -9.3% compared with 2021 figures. In general, exports, however, enjoyed a tangible expansion. The most prominent rate of growth was recorded in 2016 with an increase of 111%. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, sealed beam exports shrank to $X in 2022. Overall, exports continue to indicate a abrupt curtailment. The growth pace was the most rapid in 2020 when exports increased by 162%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for sealed beam exports from the Philippines, accounting for a 95% share of total exports. Moreover, sealed beam exports to the United States exceeded the volume sent to the second major destination, Malaysia (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +26.6%.

In value terms, the United States ($X) remains the key foreign market for sealed beam lamp units exports from the Philippines, comprising 95% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 5.3% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +12.2%.

Export Prices by Country

The average sealed beam export price stood at $X per unit in 2022, leveling off at the previous year. In general, the export price, however, saw a deep setback. The growth pace was the most rapid in 2019 an increase of 83% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while the average price for exports to the United States stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+20.7%), while the prices for the other major destinations experienced a decline.

Sealed Beam Imports

Imports into the Philippines

In 2022, supplies from abroad of sealed beam lamp units increased by 8.7% to X units, rising for the seventh year in a row after two years of decline. In general, imports showed a prominent increase. The most prominent rate of growth was recorded in 2013 when imports increased by 138% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, sealed beam imports reduced to $X in 2022. Overall, imports recorded a notable expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 369%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) was the main sealed beam supplier to the Philippines, with a 92% share of total imports. Moreover, sealed beam imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X units), more than tenfold. The third position in this ranking was held by Japan (X units), with a 0.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +20.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+85.4% per year) and Japan (-8.5% per year).

In value terms, China ($X) constituted the largest supplier of sealed beam lamp units to the Philippines, comprising 58% of total imports. The second position in the ranking was held by Japan ($X), with an 11% share of total imports. It was followed by Indonesia, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +12.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+17.3% per year) and Indonesia (+67.3% per year).

Import Prices by Country

The average sealed beam import price stood at $X per unit in 2022, shrinking by -13.6% against the previous year. Overall, the import price faced a abrupt contraction. The pace of growth was the most pronounced in 2013 an increase of 97% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a lower figure.

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 Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+28.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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