Philippines: Boiler Parts Market 2022

Boiler Parts Market Size in the Philippines

In 2021, after two years of growth, there was significant decline in the Philippine boiler parts market, when its value decreased by -X% to $X. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Boiler Parts Exports

Exports from the Philippines

In 2021, overseas shipments of parts of boilers for central heating increased by X% to X tons, rising for the third consecutive year after three years of decline. Over the period under review, exports showed significant growth. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, boiler parts exports surged to $X in 2021. In general, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

Hong Kong SAR (X tons) was the main destination for boiler parts exports from the Philippines, accounting for a X% share of total exports. It was followed by South Korea (X kg), with a X% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Hong Kong SAR was relatively modest.

From 2012 to 2021, the average annual growth rate of value to Hong Kong SAR was relatively modest.

Export Prices by Country

In 2021, the average boiler parts export price amounted to $X per ton, increasing by X% against the previous year. Overall, the export price recorded a buoyant expansion. The pace of growth was the most pronounced in 2019 an increase of X% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2021, the country with the highest price was South Korea ($X per ton), while the average price for exports to Hong Kong SAR totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (X%).

Boiler Parts Imports

Imports into the Philippines

In 2021, purchases abroad of parts of boilers for central heating decreased by -X% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, imports saw a noticeable contraction. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, boiler parts imports fell dramatically to $X in 2021. Overall, imports, however, saw a resilient expansion. The growth pace was the most rapid in 2019 when imports increased by X%. Imports peaked at $X in 2020, and then shrank remarkably in the following year.

Imports by Country

South Africa (X tons), Taiwan (Chinese) (X tons) and Japan (X tons) were the main suppliers of boiler parts imports to the Philippines, with a combined X% share of total imports.

From 2012 to 2021, the biggest increases were in South Africa (with a CAGR of +X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X), Taiwan (Chinese) ($X) and Japan ($X) constituted the largest boiler parts suppliers to the Philippines, together accounting for X% of total imports.

South Africa, with a CAGR of +X%, recorded the highest growth rate of the value of imports, among 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 boiler parts import price stood at $X per ton in 2021, with a decrease of -X% against the previous year. In general, the import price, however, saw a resilient increase. The growth pace was the most rapid in 2018 an increase of X%. The import price peaked at $X per ton in 2020, and then contracted in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from South Africa ($X per ton) and Indonesia ($X per ton), while the price for China ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2021, 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 Market Intelligence Platform

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