Philippines: Sheet Piling Market 2024

Sheet Piling Market Size in the Philippines

The Philippine sheet piling market surged to $X in 2021, increasing by 71% 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 posted significant growth. Sheet piling consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Sheet Piling Exports

Exports from the Philippines

Sheet piling exports from the Philippines shrank markedly to X tons in 2021, dropping by -92.4% on 2020 figures. In general, exports saw a abrupt shrinkage. The pace of growth was the most pronounced in 2020 when exports increased by 1,388%. As a result, the exports attained the peak of X tons, and then fell significantly in the following year.

In value terms, sheet piling exports shrank sharply to $X in 2021. Over the period under review, exports recorded a deep setback. The most prominent rate of growth was recorded in 2015 when exports increased by 202% against the previous year. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Japan (X tons) was the main destination for sheet piling exports from the Philippines, with a 70% share of total exports. Moreover, sheet piling exports to Japan exceeded the volume sent to the second major destination, Australia (X tons), threefold. The third position in this ranking was held by Hong Kong SAR (X tons), with a 2.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Japan totaled +46.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+20.5% per year) and Hong Kong SAR (-1.4% per year).

In value terms, Australia ($X) remains the key foreign market for sheet piling, shapes and sections (of iron or steel) exports from the Philippines, comprising 95% of total exports. The second position in the ranking was taken by Japan ($X), with a 3.8% share of total exports. It was followed by the United States, with a 0.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Australia totaled +16.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+14.2% per year) and the United States (-7.7% per year).

Export Prices by Country

In 2021, the average sheet piling export price amounted to $X per ton, jumping by 845% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices reached the maximum at $X per ton in 2017; however, from 2018 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 Australia ($X per ton), while the average price for exports to Japan ($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 Estonia (+235.8%), while the prices for the other major destinations experienced more modest paces of growth.

Sheet Piling Imports

Imports into the Philippines

In 2021, imports of sheet piling, shapes and sections (of iron or steel) into the Philippines soared to X tons, jumping by 39% against the year before. Over the period under review, imports recorded a significant expansion. The pace of growth was the most pronounced in 2015 when imports increased by 146%. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, sheet piling imports surged to $X in 2021. Overall, imports saw a significant expansion. The growth pace was the most rapid in 2015 with an increase of 162%. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) was the main sheet piling supplier to the Philippines, accounting for a 93% share of total imports. It was followed by Thailand (X tons), with a 2.7% share of total imports. South Korea (X tons) ranked third in terms of total imports with a 2.2% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +69.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+68.1% per year) and South Korea (+39.9% per year).

In value terms, China ($X) constituted the largest supplier of sheet piling, shapes and sections (of iron or steel) to the Philippines, comprising 91% of total imports. The second position in the ranking was taken by Thailand ($X), with a 3.2% share of total imports. It was followed by South Korea, with a 3.1% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +76.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+47.0% per year) and South Korea (+39.3% per year).

Import Prices by Country

In 2021, the average sheet piling import price amounted to $X per ton, increasing by 35% against the previous year. Overall, the import price, however, recorded a pronounced shrinkage. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from South Korea ($X per ton) and Thailand ($X per ton), while the price for China ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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