Philippines: Market for Tubes, Pipes And Hollow Profiles (Of Iron Or Steel) 2024

Market Size for Tubes, Pipes And Hollow Profiles (Of Iron Or Steel) in the Philippines

The Philippine market for tubes, pipes and hollow profiles (of iron or steel) fell to $X in 2022, shrinking by X% against the previous year. Over the period under review, consumption, however, recorded a buoyant increase. Consumption of peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Tubes, Pipes And Hollow Profiles (Of Iron Or Steel) in the Philippines

In value terms, production of tubes, pipes and hollow profiles (of iron or steel) contracted to $X in 2022 estimated in export price. In general, the total production indicated pronounced 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, production decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2019 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2020 to 2022, production of growth remained at a lower figure.

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Exports of Tubes, Pipes And Hollow Profiles (Of Iron Or Steel)

Exports from the Philippines

In 2022, shipments abroad of tubes, pipes and hollow profiles (of iron or steel) increased by X% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, exports, however, saw a abrupt decrease. Over the period under review, the exports of hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, exports of tubes, pipes and hollow profiles (of iron or steel) soared to $X in 2022. Overall, exports, however, saw a pronounced curtailment. Over the period under review, the exports of attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for exports of tubes, pipes and hollow profiles (of iron or steel) from the Philippines, accounting for a X% share of total exports. Moreover, exports of tubes, pipes and hollow profiles (of iron or steel) to the United States exceeded the volume sent to the second major destination, Canada (X tons), threefold. Hong Kong SAR (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Hong Kong SAR (X% per year).

In value terms, the United States ($X) emerged as the key foreign market for tubes, pipes and hollow profiles (of iron or steel) exports from the Philippines, comprising X% of total exports. The second position in the ranking was taken by Canada ($X), with a X% share of total exports. It was followed by Hong Kong SAR, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Hong Kong SAR (X% per year).

Export Prices by Country

In 2022, the average export price for tubes, pipes and hollow profiles (of iron or steel) amounted to $X per ton, dropping by X% against the previous year. Overall, the export price, however, continues to indicate prominent growth. The growth pace was the most rapid in 2014 when the average export price increased by X%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices 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 Canada (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tubes, Pipes And Hollow Profiles (Of Iron Or Steel)

Imports into the Philippines

In 2022, after two years of growth, there was decline in overseas purchases of tubes, pipes and hollow profiles (of iron or steel), when their volume decreased by X% to X tons. In general, imports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of X%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, imports of tubes, pipes and hollow profiles (of iron or steel) stood at $X in 2022. Over the period under review, imports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X tons) was the main supplier of iron or steel pipe and tube to the Philippines, accounting for a X% share of total imports. It was followed by Japan (X tons), with a X% share of total imports. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a X% share.

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

In value terms, China ($X) constituted the largest supplier of tubes, pipes and hollow profiles (of iron or steel) to the Philippines, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with a X% share of total imports. It was followed by Taiwan (Chinese), with a X% share.

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

Import Prices by Country

In 2022, the average import price for tubes, pipes and hollow profiles (of iron or steel) amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible setback. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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