Philippines: Market for Vulcanised Cellular Rubber Articles For Technical Uses 2025

Market Size for Vulcanised Cellular Rubber Articles For Technical Uses in the Philippines

In 2021, after three years of growth, there was significant decline in the Philippine vulcanised cellular rubber articles market, when its value decreased by -7.3% to $X. Overall, consumption, however, showed buoyant growth. Over the period under review, the market hit record highs at $X in 2020, and then shrank in the following year.

Production of Vulcanised Cellular Rubber Articles For Technical Uses in the Philippines

In value terms, vulcanised cellular rubber articles production reduced rapidly to $X in 2021 estimated in export price. In general, the total production indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +25.8% against 2018 indices. The growth pace was the most rapid in 2020 when the production volume increased by 49% against the previous year. As a result, production attained the peak level of $X, and then fell significantly in the following year.

Exports of Vulcanised Cellular Rubber Articles For Technical Uses

Exports from the Philippines

In 2021, after three years of decline, there was significant growth in overseas shipments of vulcanised cellular rubber articles for technical uses, when their volume increased by 95% to X tons. Overall, exports continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2017 when exports increased by 2,889%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, vulcanised cellular rubber articles exports soared to $X in 2021. Over the period under review, exports showed significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 2,100%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Thailand (X tons), Japan (X tons) and the United States (X kg) were the main destinations of vulcanised cellular rubber articles exports from the Philippines, with a combined 99.9% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of +43.2%), while the other leaders experienced a decline.

In value terms, Thailand ($X) remains the key foreign market for vulcanised cellular rubber articles for technical uses exports from the Philippines, comprising 79% of total exports. The second position in the ranking was held by Japan ($X), with a 21% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Thailand amounted to +65.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-48.6% per year) and the United States (-50.2% per year).

Export Prices by Country

The average vulcanised cellular rubber articles export price stood at $X per ton in 2021, waning by -7.6% against the previous year. In general, the export price, however, continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2019 an increase of 53%. The export price peaked at $X per ton in 2020, and then contracted in the following year.

Prices varied noticeably country of destination: the country with the highest price was Thailand ($X per ton), while the average price for exports to Japan ($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 Hungary (+31.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Vulcanised Cellular Rubber Articles For Technical Uses

Imports into the Philippines

In 2021, purchases abroad of vulcanised cellular rubber articles for technical uses increased by 56% to X tons, rising for the seventh year in a row after two years of decline. In general, imports continue to indicate a significant expansion. The growth pace was the most rapid in 2018 with an increase of 125%. Imports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, vulcanised cellular rubber articles imports reached $X in 2021. Over the period under review, imports continue to indicate significant growth. The growth pace was the most rapid in 2017 when imports increased by 243%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of vulcanised cellular rubber articles to the Philippines, with a 67% share of total imports. Moreover, vulcanised cellular rubber articles imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), fivefold. Malaysia (X tons) ranked third in terms of total imports with a 4.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +31.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+60.4% per year) and Malaysia (+112.3% per year).

In value terms, China ($X), Japan ($X) and South Korea ($X) were the largest vulcanised cellular rubber articles suppliers to the Philippines, together comprising 75% of total imports. Malaysia, Belgium and Taiwan (Chinese) lagged somewhat behind, together comprising a further 13%.

In terms of the main suppliers, Belgium, with a CAGR of +308.8%, saw the highest growth rate of 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 vulcanised cellular rubber articles import price amounted to $X per ton, declining by -27.2% against the previous year. Overall, the import price, however, showed buoyant growth. The pace of growth was the most pronounced in 2017 an increase of 127% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2020, and then contracted notably in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was South Korea ($X per ton), while the price for China ($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 (+19.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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