Philippines: Pyrotechnic Articles Market 2024

Pyrotechnic Articles Market Size in the Philippines

The Philippine pyrotechnic articles market skyrocketed to $X in 2021, rising by 73% 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). In general, consumption, however, showed a pronounced downturn. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Pyrotechnic Articles Exports

Exports from the Philippines

In 2021, exports of signalling flares, rain rockets, fog signals and other pyrotechnic articles from the Philippines shrank remarkably to X kg, with a decrease of -68% compared with the year before. In general, exports, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2020 when exports increased by 1,438% against the previous year. As a result, the exports attained the peak of X kg, and then dropped significantly in the following year.

In value terms, pyrotechnic articles exports dropped notably to $X in 2021. Over the period under review, exports, however, posted a tangible expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 3,096% against the previous year. As a result, the exports reached the peak of $X, and then fell sharply in the following year.

Exports by Country

Singapore (X kg) was the main destination for pyrotechnic articles exports from the Philippines, accounting for a 58% share of total exports. Moreover, pyrotechnic articles exports to Singapore exceeded the volume sent to the second major destination, Australia (X kg), threefold. Japan (X kg) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume to Singapore was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (0.0% per year) and Japan (0.0% per year).

In value terms, Singapore ($X) remains the key foreign market for signalling flares, rain rockets, fog signals and other pyrotechnic articles exports from the Philippines, comprising 57% of total exports. The second position in the ranking was held by Papua New Guinea ($X), with a 16% share of total exports. It was followed by Australia, with a 15% share.

From 2012 to 2021, the average annual growth rate of value to Singapore stood at -3.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Papua New Guinea (+38.6% per year) and Australia (0.0% per year).

Export Prices by Country

The average pyrotechnic articles export price stood at $X per ton in 2021, waning by -4.8% against the previous year. In general, the export price recorded a pronounced downturn. The pace of growth appeared the most rapid in 2020 an increase of 103% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Papua New Guinea ($X per ton), while the average price for exports to Palau ($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 Palau (+0.5%), while the prices for the other major destinations experienced a decline.

Pyrotechnic Articles Imports

Imports into the Philippines

In 2021, pyrotechnic articles imports into the Philippines skyrocketed to X tons, increasing by 26% compared with the year before. In general, imports, however, saw a abrupt slump. The growth pace was the most rapid in 2019 when imports increased by 128% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, pyrotechnic articles imports skyrocketed to $X in 2021. Overall, imports, however, showed a slight reduction. The pace of growth appeared the most rapid in 2015 with an increase of 182%. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Japan (X tons), India (X kg) and China (X kg) were the main suppliers of pyrotechnic articles imports to the Philippines, with a combined 76% share of total imports. The United States, Sweden, Singapore, Germany, Thailand and Hong Kong SAR lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2021, the biggest increases were recorded for Sweden (with a CAGR of +326.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of signalling flares, rain rockets, fog signals and other pyrotechnic articles to the Philippines, comprising 41% of total imports. The second position in the ranking was held by the United States ($X), with an 8.8% share of total imports. It was followed by Singapore, with a 5.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan stood at +37.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-4.5% per year) and Singapore (-2.7% per year).

Import Prices by Country

The average pyrotechnic articles import price stood at $X per ton in 2021, surging by 89% against the previous year. In general, the import price enjoyed a noticeable expansion. The most prominent rate of growth was recorded in 2015 when the average import price increased by 130%. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+39.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :