Report Update: May 1, 2024

Philippines - Stranded Wire, Ropes And Cables - Market Analysis, Forecast, Size, Trends and Insights

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Stranded Wire Price in the Philippines - 2023

Stranded Wire Price in the Philippines (CIF) - 2023

The average stranded wire import price stood at $1,873 per ton in June 2023, reducing by -5.7% against the previous month. Overall, the import price saw a perceptible downturn. The growth pace was the most rapid in December 2022 when the average import price increased by 20% m-o-m. The import price peaked at $3,383 per ton in March 2023; however, from April 2023 to June 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was Vietnam ($6,240 per ton), while the price for China ($1,208 per ton) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Japan (+2.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Stranded Wire Price in the Philippines (FOB) - 2022

The average stranded wire export price stood at $10,290 per ton in 2022, growing by 27% against the previous year. In general, the export price showed a tangible expansion. The pace of growth appeared the most rapid in 2013 when the average export price increased by 506%. As a result, the export price reached the peak level of $42,274 per ton. From 2014 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Czech Republic ($20,074 per ton), while the average price for exports to Indonesia ($2,421 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 Malaysia (+22.5%), while the prices for the other major destinations experienced more modest paces of growth.

Stranded Wire Imports in the Philippines

Stranded wire imports into the Philippines rose significantly to 61K tons in 2022, increasing by 15% on 2021 figures. In general, imports, however, recorded a pronounced downturn.

In value terms, stranded wire imports reduced to $142M in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 37%. As a result, imports reached the peak of $145M, and then dropped modestly in the following year.

Import of Stranded Wire in the Philippines (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	51.3	47.3	47.6	50.9	-0.3%
Vietnam	53.8	34.4	55.7	43.2	-7.1%
Thailand	6.9	2.8	9.3	9.1	9.7%
South Korea	2.5	2.7	8.3	8.2	48.6%
Japan	5.1	3.8	5.3	8.0	16.2%
India	9.3	3.0	1.1	4.1	-23.9%
Indonesia	3.9	1.3	3.3	3.8	-0.9%
Others	11.1	11.0	14.7	15.1	10.8%
Total	144	106	145	142	-0.5%

Top Suppliers of Stranded Wire to the Philippines in 2022:

China (37.4K tons)
Vietnam (6.4K tons)
Thailand (6.4K tons)
South Korea (3.0K tons)
Indonesia (1.8K tons)
Japan (1.6K tons)
India (1.5K tons)

Stranded Wire Exports in the Philippines

In 2022, stranded wire exports from the Philippines fell to 929 tons, which is down by -7.3% on the previous year's figure. Overall, exports saw a abrupt curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 18%.

In value terms, stranded wire exports soared to $9.6M in 2022. In general, exports, however, recorded a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 58% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in years to come.

Export of Stranded Wire in the Philippines (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Japan	1,723	1,992	2,527	5,183	44.4%
South Korea	444	2,720	1,757	1,127	36.4%
Indonesia	190	427	1,214	753	58.3%
Czech Republic	444	569	461	721	17.5%
Malaysia	25.6	56.6	418	592	184.9%
Thailand	161	186	121	227	12.1%
China	173	32.5	18.5	112	-13.5%
Papua New Guinea	146	N/A	540	N/A	92.3%
Marshall Islands	51.5	N/A	N/A	N/A	0%
Guinea	167	79.6	N/A	N/A	-52.3%
Others	879	896	1,073	843	-1.4%
Total	4,403	6,959	8,130	9,556	29.5%

Top Export Markets for Stranded Wire from the Philippines in 2022:

Indonesia (311.0 tons)
Japan (288.1 tons)
South Korea (121.6 tons)
Thailand (59.3 tons)
Malaysia (53.3 tons)
Czech Republic (35.9 tons)
China (16.3 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the stranded wire 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 25931130 - Iron or steel stranded wire, ropes and cables (including stranded wires and wire ropes with or without attached fittings not electrically insulated) (excluding electrically insulated)
Prodcom 25931150 - Iron or steel plaited bands, slings and the like (excluding electrically insulated)
Prodcom 25931250 - Copper stranded wire, cables, plaited bands and the like excluding electrically insulated, barbed wire and loosely twisted non-barbed double fencing wire, insulated electric wire and cables
Prodcom 25931270 - Aluminium stranded wire, cables, plaited bands and the like excluding electrically insulated, barbed wire and loosely twisted non-barbed double fencing wire, insulated electric wire and cables

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
Find deeper insights into current market developments
Discover vital success factors affecting the market

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
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

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