Philippines: Candles And Tapers Market 2024

Candles And Tapers Market Size in the Philippines

The Philippine candles and tapers market shrank to $X in 2022, with a decrease of X% against the previous year. Over the period under review, consumption recorded buoyant growth. Candles and tapers consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Candles And Tapers Production in the Philippines

In value terms, candles and tapers production fell modestly to $X in 2022 estimated in export price. Overall, production showed a prominent expansion. The most prominent rate of growth was recorded in 2015 when the production volume increased by X% against the previous year. Candles and tapers production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Candles And Tapers Exports

Exports from the Philippines

In 2022, approx. X kg of candles and tapers were exported from the Philippines; reducing by X% against the year before. Overall, exports showed a sharp reduction. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, candles and tapers exports dropped to $X in 2022. In general, exports showed a significant curtailment. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Papua New Guinea (X kg) and Saudi Arabia (X kg) were the main destinations of candles and tapers exports from the Philippines.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Saudi Arabia (with a CAGR of X%).

In value terms, Saudi Arabia ($X) and Papua New Guinea ($X) appeared to be the largest markets for candles and tapers exported from the Philippines worldwide.

Saudi Arabia, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

In 2022, the average candles and tapers export price amounted to $X per ton, growing by X% against the previous year. Overall, the export price saw resilient growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Papua New Guinea totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Candles And Tapers Imports

Imports into the Philippines

In 2022, the amount of candles and tapers imported into the Philippines skyrocketed to X tons, with an increase of X% against 2021. Overall, imports showed a resilient increase. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, candles and tapers imports skyrocketed to $X in 2022. In general, imports posted a significant increase. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest candles and tapers supplier to the Philippines, accounting for a X% share of total imports. Moreover, candles and tapers imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold. Poland (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Poland (X.6% per year).

In value terms, China ($X) constituted the largest supplier of candles and tapers to the Philippines, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports. It was followed by Poland, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Poland (X.9% per year).

Import Prices by Country

In 2022, the average candles and tapers import price amounted to $X per ton, rising by X% against the previous year. Over the period under review, the import price saw a buoyant expansion. The growth pace was the most rapid in 2015 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Poland ($X per ton), while the price for China ($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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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