Philippines: Steel Sheet Piling Market 2023

Steel Sheet Piling Market Size in the Philippines

For the third consecutive year, the Philippine steel sheet piling market recorded growth in sales value, which increased by 46% to $X in 2022. Overall, consumption recorded significant growth. Over the period under review, the market reached the maximum level in 2022 and is likely to see gradual growth in years to come.

Steel Sheet Piling Exports

Exports from the Philippines

In 2022, the amount of sheet piling of steel exported from the Philippines skyrocketed to X tons, picking up by 142% on 2021 figures. Overall, exports, however, continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 5,017% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, steel sheet piling exports surged to $X in 2022. Over the period under review, exports, however, recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2020 when exports increased by 2,247% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for steel sheet piling exports from the Philippines, with a 91% share of total exports. Moreover, steel sheet piling exports to the United States exceeded the volume sent to the second major destination, Japan (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +19.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-0.2% per year) and Canada (0.0% per year).

In value terms, the United States ($X) remains the key foreign market for sheet piling of steel exports from the Philippines, comprising 91% of total exports. The second position in the ranking was taken by Japan ($X), with a 6.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +14.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-7.2% per year) and Canada (0.0% per year).

Export Prices by Country

The average steel sheet piling export price stood at $X per ton in 2022, increasing by 91% against the previous year. In general, the export price, however, recorded a abrupt decrease. The pace of growth appeared the most rapid in 2017 an increase of 143% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to the United States ($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 Netherlands (+2.6%), while the prices for the other major destinations experienced a decline.

Steel Sheet Piling Imports

Imports into the Philippines

Steel sheet piling imports into the Philippines skyrocketed to X tons in 2022, picking up by 38% compared with the year before. In general, imports posted significant growth. The growth pace was the most rapid in 2015 with an increase of 149%. Imports peaked in 2022 and are likely to continue growth in years to come.

In value terms, steel sheet piling imports soared to $X in 2022. Over the period under review, imports showed significant growth. The pace of growth appeared the most rapid in 2015 when imports increased by 166%. Imports peaked in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, China (X tons) was the main supplier of steel sheet piling to the Philippines, with a 96% share of total imports. It was followed by Japan (X tons), with a 1.8% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China totaled +67.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+7.6% per year) and Vietnam (-53.3% per year).

In value terms, China ($X) constituted the largest supplier of sheet piling of steel to the Philippines, comprising 94% of total imports. The second position in the ranking was taken by Japan ($X), with a 3% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +76.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+11.0% per year) and Vietnam (-51.2% per year).

Import Prices by Country

In 2022, the average steel sheet piling import price amounted to $X per ton, picking up by 8.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The growth pace was the most rapid in 2021 when the average import price increased by 35% against the previous year. The import price peaked in 2022 and is likely to see steady growth in the immediate term.

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 Japan ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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