Philippines: Market for Extruded Solid Rubber Rods And Profiles 2024

Market Size for Extruded Solid Rubber Rods And Profiles in the Philippines

The Philippine extruded solid rubber rod market declined to $X in 2022, stabilizing at 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 enjoyed a perceptible expansion. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Exports of Extruded Solid Rubber Rods And Profiles

Exports from the Philippines

In 2022, the amount of extruded solid rubber rods and profiles exported from the Philippines shrank notably to X tons, with a decrease of X% on the year before. Over the period under review, exports, however, saw significant growth. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, extruded solid rubber rod exports declined to $X in 2022. Overall, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Japan (X tons) was the main destination for extruded solid rubber rod exports from the Philippines, with a X% share of total exports. Moreover, extruded solid rubber rod exports to Japan exceeded the volume sent to the second major destination, Mexico (X tons), fourfold. Turkey (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Japan amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Turkey (X% per year).

In value terms, Japan ($X) remains the key foreign market for extruded solid rubber rods and profiles exports from the Philippines, comprising X% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a X% share of total exports. It was followed by Mexico, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (X.1% per year) and Mexico (X% per year).

Export Prices by Country

In 2022, the average extruded solid rubber rod export price amounted to $X per ton, picking up by X% against the previous year. Over the period under review, export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, extruded solid rubber rod export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of X%. The export price peaked in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Turkey ($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 Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Imports of Extruded Solid Rubber Rods And Profiles

Imports into the Philippines

In 2022, purchases abroad of extruded solid rubber rods and profiles increased by X% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, imports posted perceptible growth. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, extruded solid rubber rod imports reduced to $X in 2022. In general, imports recorded a buoyant increase. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest extruded solid rubber rod supplier to the Philippines, with a X% share of total imports. Moreover, extruded solid rubber rod imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), fivefold. Japan (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Japan (X% per year).

In value terms, Japan ($X), China ($X) and South Korea ($X) were the largest extruded solid rubber rod suppliers to the Philippines, with a combined X% share of total imports.

In terms of the main suppliers, Japan, with a CAGR of X%, saw 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

In 2022, the average extruded solid rubber rod import price amounted to $X per ton, falling by X% against the previous year. Overall, the import price, however, showed a buoyant expansion. The growth pace was the most rapid in 2016 when the average import price increased by X%. The import price peaked at $X per ton in 2021, and then declined in the following year.

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 Thailand ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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