Philippines: Winding Wire Market 2025

Winding Wire Market Size in the Philippines

The Philippine winding wire market reduced markedly to $X in 2022, waning by -20.4% 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, however, posted prominent growth. Winding wire consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Winding Wire Exports

Exports from the Philippines

In 2022, after four years of decline, there was significant growth in overseas shipments of winding wire for electrical purposes, when their volume increased by 26% to X tons. Overall, exports, however, showed a noticeable downturn. The most prominent rate of growth was recorded in 2013 with an increase of 62% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, winding wire exports skyrocketed to $X in 2022. Over the period under review, exports showed a remarkable increase. The pace of growth appeared the most rapid in 2017 with an increase of 86%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons), Japan (X tons) and South Korea (X tons) were the main destinations of winding wire exports from the Philippines, with a combined 82% share of total exports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +142.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and South Korea ($X) constituted the largest markets for winding wire exported from the Philippines worldwide, with a combined 78% share of total exports.

Among the main countries of destination, South Korea, with a CAGR of +132.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average winding wire export price stood at $X per ton in 2022, which is down by -6.7% against the previous year. Overall, the export price, however, recorded a strong increase. The pace of growth was the most pronounced in 2019 when the average export price increased by 133% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Thailand ($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 Canada (+182.1%), while the prices for the other major destinations experienced more modest paces of growth.

Winding Wire Imports

Imports into the Philippines

Winding wire imports into the Philippines reduced sharply to X tons in 2022, waning by -22.7% compared with 2021. Overall, imports, however, posted a strong increase. The growth pace was the most rapid in 2016 with an increase of 67% against the previous year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, winding wire imports fell remarkably to $X in 2022. Over the period under review, imports, however, continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 91% against the previous year. Over the period under review, imports attained the maximum at $X in 2021, and then reduced rapidly in the following year.

Imports by Country

China (X tons), Thailand (X tons) and Japan (X tons) were the main suppliers of winding wire imports to the Philippines, together accounting for 64% of total imports. Taiwan (Chinese), Malaysia, South Korea and Vietnam lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +36.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest winding wire suppliers to the Philippines were China ($X), Thailand ($X) and Japan ($X), together comprising 60% of total imports. Malaysia, Taiwan (Chinese), South Korea and Vietnam lagged somewhat behind, together comprising a further 23%.

Vietnam, with a CAGR of +42.6%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average winding wire import price stood at $X per ton in 2022, picking up by 4.7% against the previous year. Over the period under review, import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, winding wire import price increased by +81.4% against 2014 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 26%. Over the period under review, average import prices reached the maximum in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China ($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 (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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