Philippines: Fuel Filter Market 2024

Fuel Filter Market Size in the Philippines

The Philippine fuel filter market skyrocketed to $X in 2022, rising by X% against 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). Over the period under review, consumption continues to indicate a resilient expansion. Fuel filter consumption peaked in 2022 and is expected to retain growth in years to come.

Fuel Filter Exports

Exports from the Philippines

Fuel filter exports from the Philippines soared to X units in 2022, jumping by X% against the previous year. Over the period under review, exports, however, recorded a pronounced contraction. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, fuel filter exports surged to $X in 2022. Overall, exports recorded a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of X%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X units) was the main destination for fuel filter exports from the Philippines, accounting for a X% share of total exports. Moreover, fuel filter exports to China exceeded the volume sent to the second major destination, Australia (X units), sixfold. South Korea (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (X% per year) and South Korea (X% per year).

In value terms, China ($X) emerged as the key foreign market for oil or petrol-filters for internal combustion engines exports from the Philippines, comprising X% of total exports. The second position in the ranking was held by Australia ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2022, the average fuel filter export price amounted to $X per unit, rising by X% against the previous year. In general, the export price recorded a significant increase. The growth pace was the most rapid in 2013 when the average export price increased by X%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per unit), while the average price for exports to Cambodia ($X per unit) was amongst the lowest.

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

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Fuel Filter Imports

Imports into the Philippines

Fuel filter imports into the Philippines surged to X units in 2022, jumping by X% on 2021. Overall, imports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the near future.

In value terms, fuel filter imports skyrocketed to $X in 2022. In general, imports posted a remarkable increase. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, Japan (X units) constituted the largest fuel filter supplier to the Philippines, with a X% share of total imports. Moreover, fuel filter imports from Japan exceeded the figures recorded by the second-largest supplier, China (X units), twofold. The third position in this ranking was held by Singapore (X units), with a X% share.

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

In value terms, Japan ($X), Thailand ($X) and China ($X) were the largest fuel filter suppliers to the Philippines, with a combined X% share of total imports. Singapore, Malaysia, Indonesia, South Korea and India lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, India, with a CAGR of X%, 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 fuel filter import price stood at $X per unit in 2022, dropping by X% against the previous year. Overall, the import price, however, saw temperate growth. The most prominent rate of growth was recorded in 2017 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per unit in 2018; however, from 2019 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 ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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