Philippines: Vacuum Vessel Market 2025

Vacuum Vessel Market Size in the Philippines

In 2022, the Philippine vacuum vessel market decreased by -28% to $X for the first time since 2018, thus ending a three-year rising trend. Over the period under review, consumption, however, showed a resilient increase. Over the period under review, the market hit record highs at $X in 2021, and then contracted rapidly in the following year.

Vacuum Vessel Production in the Philippines

In value terms, vacuum vessel production amounted to $X in 2022 estimated in export price. In general, production saw resilient growth. The most prominent rate of growth was recorded in 2019 with an increase of 21% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Vacuum Vessel Exports

Exports from the Philippines

In 2022, overseas shipments of vacuum vessels increased by 13% to X units, rising for the second consecutive year after two years of decline. Overall, exports posted significant growth. The most prominent rate of growth was recorded in 2017 when exports increased by 338% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, vacuum vessel exports contracted to $X in 2022. Over the period under review, exports saw significant growth. The most prominent rate of growth was recorded in 2017 when exports increased by 367%. The exports peaked at $X in 2021, and then dropped in the following year.

Exports by Country

Japan (X units) was the main destination for vacuum vessel exports from the Philippines, with a 82% share of total exports. Moreover, vacuum vessel exports to Japan exceeded the volume sent to the second major destination, Hong Kong SAR (X units), ninefold. The third position in this ranking was taken by South Korea (X units), with a 7.2% share.

From 2012 to 2022, the average annual growth rate of volume to Japan amounted to +35.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+63.2% per year) and South Korea (+38.4% per year).

In value terms, Japan ($X) remains the key foreign market for vacuum vessels exports from the Philippines, comprising 82% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 9.5% share of total exports. It was followed by South Korea, with a 7.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan stood at +34.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+65.5% per year) and South Korea (+33.0% per year).

Export Prices by Country

The average vacuum vessel export price stood at $X per unit in 2022, falling by -23.5% against the previous year. Over the period under review, the export price, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2013 when the average export price increased by 39% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2021, and then fell markedly in the following year.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Japan ($X per unit) and Hong Kong SAR ($X per unit), while the average price for exports to China ($X per unit) and South Korea ($X per unit) were 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 (+1.4%), while the prices for the other major destinations experienced a decline.

Vacuum Vessel Imports

Imports into the Philippines

In 2022, the amount of vacuum vessels imported into the Philippines declined to X units, falling by -1.5% against the year before. Over the period under review, imports recorded a abrupt setback. The growth pace was the most rapid in 2021 when imports increased by 119% against the previous year. Over the period under review, imports reached the maximum at X units in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, vacuum vessel imports surged to $X in 2022. In general, imports, however, saw a significant expansion. The pace of growth was the most pronounced in 2017 with an increase of 89% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X units) was the main vacuum vessel supplier to the Philippines, with a 93% share of total imports. It was followed by Malaysia (X units), with a 2.9% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China totaled -5.5%.

In value terms, China ($X) constituted the largest supplier of vacuum vessels to the Philippines, comprising 93% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 2.9% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +25.6%.

Import Prices by Country

The average vacuum vessel import price stood at $X per unit in 2022, surging by 47% against the previous year. Overall, the import price saw a significant increase. The pace of growth appeared the most rapid in 2018 when the average import price increased by 206% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X per unit), while the price for China amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+32.9%).

Source: IndexBox Platform

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