Philippines: Stranded Wire Market 2025

Stranded Wire Market Size in the Philippines

The Philippine stranded wire market surged to $X in 2021, growing by 28% 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 showed a buoyant expansion. Stranded wire consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Stranded Wire Exports

Exports from the Philippines

In 2021, exports of stranded wire, ropes and cables from the Philippines surged to X tons, increasing by 18% against 2020. In general, exports posted a strong increase. The pace of growth was the most pronounced in 2013 with an increase of 1,262%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, stranded wire exports soared to $X in 2021. Over the period under review, exports recorded a buoyant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 8,154% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Indonesia (X tons), Japan (X tons) and South Korea (X tons) were the main destinations of stranded wire exports from the Philippines, with a combined 65% share of total exports. Papua New Guinea, Thailand, Malaysia and the Czech Republic lagged somewhat behind, together comprising a further 27%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Czech Republic (with a CAGR of +786.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for stranded wire exported from the Philippines were Japan ($X), South Korea ($X) and Indonesia ($X), together comprising 68% of total exports. Papua New Guinea, the Czech Republic, Malaysia and Thailand lagged somewhat behind, together accounting for a further 19%.

The Czech Republic, with a CAGR of +671.7%, saw the highest growth rate of 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

The average stranded wire export price stood at $X per ton in 2021, flattening at the previous year. In general, the export price, however, recorded modest growth. The pace of growth was the most pronounced in 2013 when the average export price increased by 506%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Thailand ($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 Papua New Guinea (+46.5%), while the prices for the other major destinations experienced more modest paces of growth.

Stranded Wire Imports

Imports into the Philippines

In 2021, approx. X tons of stranded wire, ropes and cables were imported into the Philippines; growing by 5.3% against 2020. Overall, total imports indicated a pronounced expansion from 2012 to 2021: its volume increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -18.2% against 2019 indices. The growth pace was the most rapid in 2015 with an increase of 29%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, stranded wire imports skyrocketed to $X in 2021. Over the period under review, imports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2018 with an increase of 48%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest stranded wire supplier to the Philippines, accounting for a 59% share of total imports. Moreover, stranded wire imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), fourfold. The third position in this ranking was taken by Thailand (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+81.3% per year) and Thailand (+19.5% per year).

In value terms, Vietnam ($X), China ($X) and Thailand ($X) appeared to be the largest stranded wire suppliers to the Philippines, with a combined 78% share of total imports.

Among the main suppliers, Vietnam, with a CAGR of +92.5%, saw 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

In 2021, the average stranded wire import price amounted to $X per ton, jumping by 30% against the previous year. In general, the import price continues to indicate a prominent increase. The growth pace was the most rapid in 2014 an increase of 63% against the previous year. The import price peaked in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+13.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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