Philippines: Seat Market 2025

Seat Market Size in the Philippines

The Philippine seat market was estimated at $X in 2021, approximately reflecting the previous year. In general, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +91.1% against 2015 indices. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the immediate term.

Seat Production in the Philippines

In value terms, seat production declined slightly to $X in 2021 estimated in export price. Overall, the total production indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +104.9% against 2015 indices. The most prominent rate of growth was recorded in 2016 with an increase of 28% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then dropped modestly in the following year.

Seat Exports

Exports from the Philippines

In 2021, the amount of seats exported from the Philippines skyrocketed to X tons, increasing by 30% on 2020 figures. Over the period under review, exports, however, saw a deep reduction. The pace of growth appeared the most rapid in 2017 when exports increased by 563% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, seat exports skyrocketed to $X in 2021. Overall, exports, however, recorded a abrupt decrease. The growth pace was the most rapid in 2016 when exports increased by 649%. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for seat exports from the Philippines, with a 48% share of total exports. Moreover, seat exports to the United States exceeded the volume sent to the second major destination, Japan (X tons), more than tenfold. The third position in this ranking was taken by Canada (X tons), with a 1.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to -4.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-12.3% per year) and Canada (-22.0% per year).

In value terms, the United States ($X) remains the key foreign market for seats exports from the Philippines, comprising 76% of total exports. The second position in the ranking was held by Japan ($X), with a 6.6% share of total exports. It was followed by the UK, with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at -7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-8.3% per year) and the UK (-6.1% per year).

Export Prices by Country

The average seat export price stood at $X per ton in 2021, with an increase of 7.5% against the previous year. In general, the export price continues to indicate a prominent increase. The growth pace was the most rapid in 2018 an increase of 634%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, 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 ($X per ton), while the average price for exports to Ghana ($X per ton) 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 (+10.2%), while the prices for the other major destinations experienced more modest paces of growth.

Seat Imports

Imports into the Philippines

In 2021, the amount of seats imported into the Philippines soared to X tons, surging by 49% against the previous year's figure. In general, imports saw a prominent expansion. The growth pace was the most rapid in 2016 with an increase of 80% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, seat imports soared to $X in 2021. Over the period under review, imports continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2014 when imports increased by 73% against the previous year. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of seat to the Philippines, with a 47% share of total imports. Moreover, seat imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold. The third position in this ranking was held by Japan (X tons), with a 1.7% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+19.1% per year) and Japan (+13.6% per year).

In value terms, China ($X) constituted the largest supplier of seats to the Philippines, comprising 80% of total imports. The second position in the ranking was taken by the United States ($X), with a 4.1% share of total imports. It was followed by Malaysia, with a 3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +14.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+16.9% per year) and Malaysia (+2.6% per year).

Import Prices by Country

In 2021, the average seat import price amounted to $X per ton, almost unchanged from the previous year. Over the period under review, the import price saw a buoyant expansion. The pace of growth appeared the most rapid in 2018 when the average import price increased by 183% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+9.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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