Philippines: Dental Fitting Market 2024

Dental Fitting Market Size in the Philippines

The Philippine dental fitting market declined modestly to $X in 2022, reducing by -2% against the previous year. Overall, consumption, however, saw a prominent expansion. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Dental Fitting Production in the Philippines

In value terms, dental fitting production contracted slightly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a strong increase. The growth pace was the most rapid in 2016 with an increase of 58%. Dental fitting production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Dental Fitting Exports

Exports from the Philippines

After two years of growth, overseas shipments of dental fittings decreased by -20.3% to X tons in 2022. In general, exports saw a deep contraction. The pace of growth appeared the most rapid in 2013 with an increase of 103% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, dental fitting exports reduced markedly to $X in 2022. Overall, exports, however, continue to indicate a resilient increase. The pace of growth was the most pronounced in 2013 when exports increased by 251% against the previous year. The exports peaked at $X in 2021, and then declined notably in the following year.

Exports by Country

The Netherlands (X tons), the United States (X tons) and Australia (X kg) were the main destinations of dental fitting exports from the Philippines, together accounting for 84% of total exports. Germany, Singapore and Canada lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of +53.6%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), the United States ($X) and Australia ($X) were the largest markets for dental fitting exported from the Philippines worldwide, with a combined 84% share of total exports. Germany, Singapore and Canada lagged somewhat behind, together comprising a further 13%.

In terms of the main countries of destination, Canada, with a CAGR of +91.9%, recorded the highest growth rate of 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

In 2022, the average dental fitting export price amounted to $X per kg, shrinking by -5.2% against the previous year. Over the period under review, the export price, however, recorded a significant increase. The pace of growth was the most pronounced in 2018 an increase of 331%. Over the period under review, the average export prices attained the maximum at $X per kg in 2021, and then fell in the following year.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were the Netherlands ($X per kg) and Australia ($X per kg), while the average price for exports to Canada ($X per kg) and Singapore ($X per kg) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+46.0%), while the prices for the other major destinations experienced more modest paces of growth.

Dental Fitting Imports

Imports into the Philippines

In 2022, supplies from abroad of dental fittings increased by 64% to X kg, rising for the second consecutive year after four years of decline. Over the period under review, imports, however, showed a deep reduction. The growth pace was the most rapid in 2016 when imports increased by 1,141%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, dental fitting imports declined sharply to $X in 2022. Overall, imports, however, recorded a pronounced contraction. The growth pace was the most rapid in 2016 with an increase of 1,381% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United States (X kg), Taiwan (Chinese) (X kg) and South Korea (X kg) were the main suppliers of dental fitting imports to the Philippines, with a combined 57% share of total imports. Turkey, China, Germany, Switzerland, France, Malaysia, Australia and Singapore lagged somewhat behind, together comprising a further 38%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +3,200.0%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest dental fitting suppliers to the Philippines were the United States ($X), Taiwan (Chinese) ($X) and South Korea ($X), with a combined 58% share of total imports. Turkey, China, Germany, Switzerland, France, Australia, Singapore and Malaysia lagged somewhat behind, together comprising a further 37%.

In terms of the main suppliers, Turkey, with a CAGR of +114.7%, recorded 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

The average dental fitting import price stood at $X per kg in 2022, falling by -63.3% against the previous year. In general, the import price, however, continues to indicate a buoyant increase. The growth pace was the most rapid in 2018 an increase of 624% against the previous year. The import price peaked at $X per kg in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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 Australia ($X per kg), while the price for Malaysia ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+63.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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