Philippines: Flexographic Printing Machinery Market 2024

Flexographic Printing Machinery Market Size in the Philippines

The Philippine flexographic printing machinery market skyrocketed to $X in 2022, rising by X% against the previous year. Overall, consumption, however, continues to indicate mild growth. Flexographic printing machinery consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Flexographic Printing Machinery Production in the Philippines

In value terms, flexographic printing machinery production stood at less than $X in 2022 estimated in export price. Over the period under review, production continues to indicate a significant contraction. The most prominent rate of growth was recorded in 2018 when the production volume decreased by X% against the previous year. Flexographic printing machinery production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

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Flexographic Printing Machinery Exports

Exports from the Philippines

In 2022, overseas shipments of flexographic printing machinery increased by X% to X units, rising for the third consecutive year after two years of decline. In general, exports posted a buoyant expansion. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, flexographic printing machinery exports surged to $X in 2022. Over the period under review, exports saw a resilient expansion. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The UK (X units) was the main destination for flexographic printing machinery exports from the Philippines, with a X% share of total exports. Moreover, flexographic printing machinery exports to the UK exceeded the volume sent to the second major destination, Malaysia (X units), threefold. Bahrain (X units) ranked third in terms of total exports with a X% share.

From 2013 to 2022, the average annual rate of growth in terms of volume to the UK stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and Bahrain (X% per year).

In value terms, the largest markets for flexographic printing machinery exported from the Philippines were the UK ($X), Spain ($X) and Colombia ($X), with a combined X% share of total exports.

In terms of the main countries of destination, Colombia, with a CAGR of X%, saw 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 flexographic printing machinery export price amounted to $X per unit, surging by X% against the previous year. Overall, the export price, however, showed a slight descent. Over the period under review, the average export prices hit record highs at $X per unit in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per unit), while the average price for exports to Bahrain ($X per unit) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (X%), while the prices for the other major destinations experienced a decline.

Flexographic Printing Machinery Imports

Imports into the Philippines

In 2022, supplies from abroad of flexographic printing machinery decreased by X% to X units, falling for the fourth year in a row after two years of growth. Over the period under review, imports showed a abrupt contraction. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, flexographic printing machinery imports skyrocketed to $X in 2022. In general, imports, however, recorded a modest increase. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Japan (X units) constituted the largest flexographic printing machinery supplier to the Philippines, with a X% share of total imports. Moreover, flexographic printing machinery imports from Japan exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), more than tenfold. The third position in this ranking was taken by Australia (X units), with a X% share.

From 2017 to 2022, the average annual growth rate of volume from Japan stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (X% per year) and Australia (X% per year).

In value terms, Australia ($X), China ($X) and Switzerland ($X) were the largest flexographic printing machinery suppliers to the Philippines, with a combined X% share of total imports. Japan, Thailand, Italy and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

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 flexographic printing machinery import price amounted to $X per unit, rising by X% against the previous year. Over the period under review, the import price posted a prominent increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (X.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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