Philippines: Plastic Household Articles Market 2024

Plastic Household Articles Market Size in the Philippines

In 2022, the Philippine plastic household articles market decreased by -4.2% to $X, falling for the second consecutive year after nine years of growth. In general, consumption showed a buoyant expansion. Plastic household articles consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Plastic Household Articles Production in the Philippines

In value terms, plastic household articles production fell to $X in 2022 estimated in export price. In general, production, however, continues to indicate a significant increase. The pace of growth was the most pronounced in 2018 with an increase of 455% against the previous year. Plastic household articles production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Plastic Household Articles Exports

Exports from the Philippines

In 2022, plastic household articles exports from the Philippines reduced to X tons, with a decrease of -6.4% on 2021 figures. Over the period under review, exports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of 142%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, plastic household articles exports reduced dramatically to $X in 2022. In general, exports, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2018 with an increase of 278%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Japan (X tons) was the main destination for plastic household articles exports from the Philippines, accounting for a 70% share of total exports. Moreover, plastic household articles exports to Japan exceeded the volume sent to the second major destination, the United States (X tons), threefold. The third position in this ranking was taken by Australia (X tons), with a 1.7% share.

From 2012 to 2022, the average annual growth rate of volume to Japan stood at +21.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+11.6% per year) and Australia (+16.3% per year).

In value terms, Japan ($X), the United States ($X) and Canada ($X) were the largest markets for plastic household articles exported from the Philippines worldwide, together comprising 93% of total exports.

Japan, with a CAGR of +25.3%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average plastic household articles export price stood at $X per ton in 2022, with a decrease of -15.1% against the previous year. In general, the export price, however, saw notable growth. The growth pace was the most rapid in 2018 when the average export price increased by 73%. Over the period under review, the average export prices reached the maximum at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Japan ($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 the United States (+5.0%), while the prices for the other major destinations experienced mixed trend patterns.

Plastic Household Articles Imports

Imports into the Philippines

In 2022, supplies from abroad of household articles and toilet articles of plastics increased by 40% to X tons, rising for the second year in a row after three years of decline. Overall, imports continue to indicate measured growth. The growth pace was the most rapid in 2016 with an increase of 62% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, plastic household articles imports contracted to $X in 2022. Over the period under review, imports recorded resilient growth. The pace of growth appeared the most rapid in 2016 with an increase of 78% against the previous year. Imports peaked at $X in 2021, and then declined in the following year.

Imports by Country

In 2022, China (X tons) was the main plastic household articles supplier to the Philippines, with a 93% share of total imports. It was followed by the United States (X tons), with a 1.8% share of total imports. The third position in this ranking was held by Thailand (X tons), with a 1.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-4.6% per year) and Thailand (+1.0% per year).

In value terms, the largest plastic household articles suppliers to the Philippines were China ($X), Thailand ($X) and the United States ($X), with a combined 90% share of total imports.

Among the main suppliers, Thailand, with a CAGR of +28.7%, 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 plastic household articles import price amounted to $X per ton, dropping by -33.8% against the previous year. Overall, the import price, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2014 when the average import price increased by 74% against the previous year. Over the period under review, average import prices hit record highs at $X per ton 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 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 Thailand (+27.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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