Philippines: Unvulcanized Rubber Market 2025

Unvulcanized Rubber Market Size in the Philippines

In 2022, the Philippine unvulcanized rubber market decreased by -1.6% to $X for the first time since 2019, thus ending a two-year rising trend. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Unvulcanized Rubber Production in the Philippines

In value terms, unvulcanized rubber production expanded modestly to $X in 2022 estimated in export price. Overall, the total production indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.5% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 79%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Unvulcanized Rubber Exports

Exports from the Philippines

Unvulcanized rubber exports from the Philippines rose significantly to X tons in 2022, increasing by 11% compared with 2021 figures. Overall, exports posted prominent growth. The pace of growth appeared the most rapid in 2017 when exports increased by 2,571% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, unvulcanized rubber exports expanded rapidly to $X in 2022. In general, exports posted prominent growth. The pace of growth was the most pronounced in 2017 with an increase of 2,082%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Japan (X tons) was the main destination for unvulcanized rubber exports from the Philippines, with a 98% share of total exports. It was followed by China (X tons), with a 1% share of total exports. Hong Kong SAR (X tons) ranked third in terms of total exports with a 0.1% share.

From 2012 to 2022, the average annual growth rate of volume to Japan amounted to +84.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-30.8% per year) and Hong Kong SAR (-36.9% per year).

In value terms, Japan ($X) remains the key foreign market for unvulcanized rubber and articles thereof exports from the Philippines, comprising 85% of total exports. The second position in the ranking was taken by China ($X), with a 2% share of total exports. It was followed by Hong Kong SAR, with a 1.7% share.

From 2012 to 2022, the average annual growth rate of value to Japan totaled +57.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-25.6% per year) and Hong Kong SAR (-14.1% per year).

Export Prices by Country

In 2022, the average unvulcanized rubber export price amounted to $X per ton, leveling off at the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the average export price increased by 139% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, 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 Hong Kong SAR ($X per ton), while the average price for exports to Japan ($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 Hong Kong SAR (+36.1%), while the prices for the other major destinations experienced more modest paces of growth.

Unvulcanized Rubber Imports

Imports into the Philippines

Unvulcanized rubber imports into the Philippines shrank notably to X tons in 2022, which is down by -21.5% on 2021 figures. Overall, imports, however, posted strong growth. The pace of growth was the most pronounced in 2021 when imports increased by 81%. As a result, imports attained the peak of X tons, and then fell significantly in the following year.

In value terms, unvulcanized rubber imports shrank significantly to $X in 2022. In general, imports, however, saw a strong increase. The most prominent rate of growth was recorded in 2016 when imports increased by 72%. Imports peaked at $X in 2021, and then contracted dramatically in the following year.

Imports by Country

China (X tons), Japan (X tons) and Thailand (X tons) were the main suppliers of unvulcanized rubber imports to the Philippines, together comprising 73% of total imports. South Korea, Malaysia, Taiwan (Chinese) and the United Arab Emirates lagged somewhat behind, together comprising a further 22%.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +125.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of unvulcanized rubber and articles thereof to the Philippines, comprising 46% of total imports. The second position in the ranking was taken by China ($X), with a 15% share of total imports. It was followed by Thailand, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from Japan stood at +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+20.6% per year) and Thailand (+3.7% per year).

Import Prices by Country

In 2022, the average unvulcanized rubber import price amounted to $X per ton, picking up by 6% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 21%. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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