Report Update Nov 1, 2024

Philippines - Vulcanised Rubber Thread and Cord - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Vulcanised Rubber Thread Market 2024

Vulcanised Rubber Thread Market Size in the Philippines

After three years of decline, the Philippine vulcanised rubber thread market increased by 23% to $X in 2021. Over the period under review, consumption showed a strong expansion. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Vulcanised Rubber Thread Exports

Exports from the Philippines

After two years of decline, shipments abroad of vulcanised rubber thread and cord increased by 2,941% to X tons in 2021. Overall, exports saw a strong expansion. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, vulcanised rubber thread exports skyrocketed to $X in 2021. Over the period under review, exports recorded significant growth. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Japan (X tons) was the main destination for vulcanised rubber thread exports from the Philippines, with a 88% share of total exports. Moreover, vulcanised rubber thread exports to Japan exceeded the volume sent to the second major destination, the Netherlands (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Japan amounted to +15.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+45.4% per year) and South Korea (+17.7% per year).

In value terms, Japan ($X) remains the key foreign market for vulcanised rubber thread and cord exports from the Philippines, comprising 91% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 6.3% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Japan amounted to +20.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+216.6% per year) and South Korea (+44.7% per year).

Export Prices by Country

In 2021, the average vulcanised rubber thread export price amounted to $X per ton, rising by 24% against the previous year. Overall, the export price showed notable growth. The growth pace was the most rapid in 2019 an increase of 180%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to the Netherlands ($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 South Korea (+23.1%), while the prices for the other major destinations experienced more modest paces of growth.

Vulcanised Rubber Thread Imports

Imports into the Philippines

In 2021, approx. X tons of vulcanised rubber thread and cord were imported into the Philippines; jumping by 34% compared with the year before. In general, imports showed resilient growth. The pace of growth appeared the most rapid in 2017 with an increase of 71% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, vulcanised rubber thread imports expanded markedly to $X in 2021. Over the period under review, imports continue to indicate a moderate expansion. The growth pace was the most rapid in 2017 with an increase of 200%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Thailand (X tons) constituted the largest supplier of vulcanised rubber thread to the Philippines, accounting for a 68% share of total imports. Moreover, vulcanised rubber thread imports from Thailand exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fivefold. Hong Kong SAR (X tons) ranked third in terms of total imports with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Thailand amounted to +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+6.3% per year) and Hong Kong SAR (+49.1% per year).

In value terms, the largest vulcanised rubber thread suppliers to the Philippines were Japan ($X), Thailand ($X) and Hong Kong SAR ($X), together accounting for 84% of total imports.

In terms of the main suppliers, Hong Kong SAR, with a CAGR of +51.4%, recorded 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

The average vulcanised rubber thread import price stood at $X per ton in 2021, shrinking by -16.9% against the previous year. Over the period under review, the import price continues to indicate a perceptible decrease. The growth pace was the most rapid in 2017 an increase of 76%. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+19.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for vulcanised rubber thread and cord in the world?

The country with the largest volume of vulcanised rubber thread consumption was China, comprising approx. 32% of total volume. Moreover, vulcanised rubber thread consumption in China exceeded the figures recorded by the second-largest consumer, India, fourfold. The U.S. ranked third in terms of total consumption with a 7.4% share.

What are the largest producers of vulcanised rubber thread and cord in the world?

Thailand remains the largest vulcanised rubber thread producing country worldwide, comprising approx. 49% of total volume. Moreover, vulcanised rubber thread production in Thailand exceeded the figures recorded by the second-largest producer, Malaysia, twofold. The third position in this ranking was occupied by India, with a 7.9% share.

What are the leading suppliers of vulcanised rubber thread and cord to the Philippines?

In value terms, the largest vulcanised rubber thread suppliers to the Philippines were Thailand, Japan and China, together accounting for 94% of total imports.

What are the leading importers of vulcanised rubber thread and cord from the Philippines?

In value terms, Vietnam $238) remains the key foreign market for vulcanised rubber thread exports from the Philippines, comprising 56% of total exports. The second position in the ranking was occupied by South Korea $96), with a 23% share of total exports.

What is the average export price for vulcanised rubber thread and cord in the Philippines?

The average vulcanised rubber thread export price stood at $3,121 per ton in 2020, rising by 6.5% against the previous year.

What is the average import price for vulcanised rubber thread and cord in the Philippines?

In 2020, the average vulcanised rubber thread import price amounted to $2,689 per ton, dropping by -39.4% against the previous year.

This report provides an in-depth analysis of the vulcanised rubber thread market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 22192050 - Vulcanised rubber thread and cord

Country coverage:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
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This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
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While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023