Philippines: Cellulose Fibrecement Sheet Market 2024

Cellulose Fibrecement Sheet Market Size in the Philippines

For the third consecutive year, the Philippine cellulose fibrecement sheet market recorded growth in sales value, which increased by 62% to $X in 2022. In general, consumption showed a prominent increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Cellulose Fibrecement Sheet Exports

Exports from the Philippines

In 2022, approx. X tons of sheets, panels and tiles of cellulose fibrecement were exported from the Philippines; shrinking by -52.6% compared with 2021. In general, exports showed a abrupt decrease. The most prominent rate of growth was recorded in 2019 when exports increased by 214%. Over the period under review, the exports reached the peak figure at X tons in 2021, and then shrank dramatically in the following year.

In value terms, cellulose fibrecement sheet exports totaled $X in 2022. Over the period under review, exports, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2019 with an increase of 208% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Taiwan (Chinese) (X tons) was the main destination for cellulose fibrecement sheet exports from the Philippines, with a 66% share of total exports. Moreover, cellulose fibrecement sheet exports to Taiwan (Chinese) exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), more than tenfold. The third position in this ranking was taken by Singapore (X tons), with a 4.9% share.

From 2017 to 2022, the average annual rate of growth in terms of volume to Taiwan (Chinese) amounted to +69.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+4.6% per year) and Singapore (-19.9% per year).

In value terms, Taiwan (Chinese) ($X), Vietnam ($X) and Hong Kong SAR ($X) were the largest markets for cellulose fibrecement sheet exported from the Philippines worldwide, with a combined 87% share of total exports.

Taiwan (Chinese), with a CAGR of +119.9%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination 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 cellulose fibrecement sheet export price amounted to $X per ton, picking up by 120% against the previous year. Over the period under review, the export price saw a significant expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+29.9%), while the prices for the other major destinations experienced more modest paces of growth.

Cellulose Fibrecement Sheet Imports

Imports into the Philippines

For the third year in a row, the Philippines recorded growth in overseas purchases of sheets, panels and tiles of cellulose fibrecement, which increased by 36% to X tons in 2022. Over the period under review, total imports indicated a resilient increase from 2017 to 2022: its volume increased at an average annual rate of +15.5% over the last five-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +105.4% against 2017 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, cellulose fibrecement sheet imports skyrocketed to $X in 2022. Overall, imports posted a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Thailand (X tons) constituted the largest cellulose fibrecement sheet supplier to the Philippines, accounting for a 81% share of total imports. Moreover, cellulose fibrecement sheet imports from Thailand exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), fivefold. The third position in this ranking was taken by China (X tons), with a 1.8% share.

From 2017 to 2022, the average annual growth rate of volume from Thailand totaled +14.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+44.1% per year) and China (+23.5% per year).

In value terms, Thailand ($X) constituted the largest supplier of sheets, panels and tiles of cellulose fibrecement to the Philippines, comprising 81% of total imports. The second position in the ranking was held by Indonesia ($X), with a 17% share of total imports. It was followed by China, with a 1.8% share.

From 2017 to 2022, the average annual growth rate of value from Thailand stood at +18.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+48.0% per year) and China (+11.1% per year).

Import Prices by Country

The average cellulose fibrecement sheet import price stood at $X per ton in 2022, increasing by 15% against the previous year. Over the period from 2017 to 2022, it increased at an average annual rate of +3.0%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Malaysia ($X per ton) and Indonesia ($X per ton), while the price for Thailand ($X per ton) and China ($X per ton) were amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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