Philippines: Market for Natural Rubber And Gums 2024

Market Size for Natural Rubber And Gums in the Philippines

The Philippine natural rubber and gum market expanded modestly to $X in 2022, growing by X% against the previous year. In general, the total consumption indicated temperate growth from 2012 to 2022: its value 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, consumption decreased by X% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Natural Rubber And Gums in the Philippines

In value terms, natural rubber and gum production reached $X in 2022 estimated in export price. Over the period under review, production, however, recorded significant growth. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

In 2022, the average natural rubber and gum yield in the Philippines shrank slightly to X tons per ha, which is down by X% on the year before. Over the period under review, the yield showed a perceptible decrease. The pace of growth appeared the most rapid in 2017 when the yield increased by X% against the previous year. Over the period under review, the average natural rubber and gum yield attained the peak level at X tons per ha in 2012; however, from 2013 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of natural rubber and gums were harvested in the Philippines; remaining stable against 2021 figures. The harvested area increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to natural rubber and gum production reached the maximum in 2022 and is expected to retain growth in the immediate term.

Exports of Natural Rubber And Gums

Exports from the Philippines

In 2022, the amount of natural rubber and gums exported from the Philippines contracted dramatically to X kg, with a decrease of X% compared with the year before. In general, exports faced a dramatic curtailment. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, natural rubber and gum exports contracted remarkably to $X in 2022. Overall, exports recorded a dramatic slump. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil (X kg) and Taiwan (Chinese) (X kg) were the main destinations of natural rubber and gum exports from the Philippines. Moreover, natural rubber and gum exports in Brazil exceeded the figures recorded by the second-largest exporter, Taiwan (Chinese), twofold.

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

In value terms, Brazil ($X) and Taiwan (Chinese) ($X) constituted the largest markets for natural rubber and gum exported from the Philippines worldwide.

Taiwan (Chinese), 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 natural rubber and gum export price amounted to $X per ton, waning by X% against the previous year. Over the period under review, the export price, however, recorded a resilient expansion. The pace of growth was the most pronounced in 2019 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to Brazil totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (X%), while the prices for the other major destinations experienced a decline.

Imports of Natural Rubber And Gums

Imports into the Philippines

Natural rubber and gum imports into the Philippines surged to X tons in 2022, rising by X% on the previous year. Overall, imports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, natural rubber and gum imports reduced to $X in 2022. Over the period under review, imports continue to indicate a significant increase. The pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. Imports peaked at $X in 2021, and then dropped in the following year.

Imports by Country

Thailand (X tons), Australia (X tons) and Malaysia (X tons) were the main suppliers of natural rubber and gum imports to the Philippines, together accounting for X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Australia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Malaysia ($X) and Japan ($X) were the largest natural rubber and gum suppliers to the Philippines, with a combined X% share of total imports. Australia, India and China lagged somewhat behind, together accounting for a further X%.

Australia, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average natural rubber and gum import price stood at $X per ton in 2022, which is down by X% against the previous year. In general, the import price continues to indicate a slight decrease. The growth pace was the most rapid in 2019 when the average import price increased by X%. The import price peaked at $X per ton in 2021, and then dropped significantly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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