Philippines: Market for Self-Adhesive Plastic Tape in Rolls of a Width Under 20cm 2024

Market Size for Self-Adhesive Plastic Tape in Rolls of a Width Under 20cm in the Philippines

The Philippine market for self-adhesive plastic tape in rolls of a width under 20cm dropped to $X in 2022, which is down by -14% 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, however, continues to indicate significant growth. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Exports of Self-Adhesive Plastic Tape in Rolls of a Width Under 20cm

Exports from the Philippines

In 2022, shipments abroad of self-adhesive plastic tape in rolls of a width under 20cm increased by 174% to X tons for the first time since 2018, thus ending a three-year declining trend. Overall, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 229%. Over the period under review, the exports of attained the peak figure at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, exports of self-adhesive plastic tape in rolls of a width under 20cm surged to $X in 2022. Over the period under review, exports recorded a resilient increase. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons), the Netherlands (X tons) and the United States (X tons) were the main destinations of exports of self-adhesive plastic tape in rolls of a width under 20cm from the Philippines, with a combined 73% share of total exports. Cambodia, Malta, Taiwan (Chinese), Singapore, South Korea and Indonesia lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cambodia (with a CAGR of +14,212.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for self-adhesive plastic tape in rolls of a width under 20cm exported from the Philippines were the Netherlands ($X), Japan ($X) and the United States ($X), with a combined 56% share of total exports. Malta, Cambodia, Taiwan (Chinese), South Korea, Singapore and Indonesia lagged somewhat behind, together accounting for a further 37%.

In terms of the main countries of destination, Cambodia, with a CAGR of +8,335.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for self-adhesive plastic tape in rolls of a width under 20cm amounted to $X per ton, surging by 11% against the previous year. In general, the export price enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2019 an increase of 56% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2022, 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 South Korea (+30.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Self-Adhesive Plastic Tape in Rolls of a Width Under 20cm

Imports into the Philippines

In 2022, the amount of self-adhesive plastic tape in rolls of a width under 20cm imported into the Philippines fell slightly to X tons, waning by -4.9% against the previous year. In general, imports, however, recorded a resilient increase. The pace of growth was the most pronounced in 2019 with an increase of 93%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of self-adhesive plastic tape in rolls of a width under 20cm fell to $X in 2022. Over the period under review, imports, however, enjoyed a significant expansion. The growth pace was the most rapid in 2016 when imports increased by 77% against the previous year. Imports peaked at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest self-adhesive plastic tape in rolls of a width under 20cm supplier to the Philippines, with a 69% share of total imports. Moreover, imports of self-adhesive plastic tape in rolls of a width under 20cm from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), sixfold. The third position in this ranking was taken by South Korea (X tons), with a 3.4% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +18.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+32.6% per year) and South Korea (+12.2% per year).

In value terms, Japan ($X), China ($X) and South Korea ($X) were the largest self-adhesive plastic tape in rolls of a width under 20cm suppliers to the Philippines, together accounting for 56% of total imports. Singapore, Malaysia, Thailand, Taiwan (Chinese) and Indonesia lagged somewhat behind, together accounting for a further 25%.

In terms of the main suppliers, Malaysia, with a CAGR of +30.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for self-adhesive plastic tape in rolls of a width under 20cm stood at $X per ton in 2022, which is down by -10% against the previous year. In general, the import price, however, showed a temperate increase. The most prominent rate of growth was recorded in 2018 an increase of 49%. Over the period under review, average import prices attained the peak figure at $X per ton in 2021, and then declined in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+17.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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