Philippines: Market for Wood Boxes, Crates and Cable Drums 2024

Market Size for Wood Boxes, Crates and Cable Drums in the Philippines

The Philippine market for wood boxes, crates and cable drums reduced modestly to $X in 2022, with a decrease of X% against the previous year. In general, consumption, however, recorded a remarkable increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Wood Boxes, Crates and Cable Drums in the Philippines

In value terms, wood box and cable drum production contracted to $X in 2022 estimated in export price. Over the period under review, the total production indicated a buoyant increase 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 increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Wood Boxes, Crates and Cable Drums

Exports from the Philippines

In 2022, approx. X units of wood boxes, crates and cable drums were exported from the Philippines; reducing by X% against the previous year. In general, exports, however, showed significant growth. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, wood box and cable drum exports contracted notably to $X in 2022. Overall, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Japan (X units) was the main destination for wood box and cable drum exports from the Philippines, with a X% share of total exports. Moreover, wood box and cable drum exports to Japan exceeded the volume sent to the second major destination, Mexico (X units), more than tenfold. The third position in this ranking was taken by Switzerland (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Switzerland (X% per year).

In value terms, the largest markets for wood box and cable drum exported from the Philippines were Japan ($X), Switzerland ($X) and Mexico ($X), with a combined X% share of total exports.

Mexico, 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, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for wood boxes, crates and cable drums amounted to $X per unit, picking up by X% against the previous year. Overall, the export price enjoyed temperate growth. The most prominent rate of growth was recorded in 2013 when the average export price increased by X% against the previous year. The export price peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per unit), while the average price for exports to Mexico ($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 Japan (X%), while the prices for the other major destinations experienced a decline.

Imports of Wood Boxes, Crates and Cable Drums

Imports into the Philippines

Wood box and cable drum imports into the Philippines surged to X units in 2022, increasing by X% against the previous year. In general, imports posted a significant increase. The growth pace was the most rapid in 2019 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, wood box and cable drum imports shrank notably to $X in 2022. Overall, imports continue to indicate a strong expansion. The growth pace was the most rapid in 2013 when imports increased by X%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Japan (X units) constituted the largest wood box and cable drum supplier to the Philippines, accounting for a X% share of total imports. It was followed by China (X units), with a X% share of total imports.

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 Thailand (X% per year).

In value terms, the largest wood box and cable drum suppliers to the Philippines were Japan ($X), Thailand ($X) and China ($X), with a combined X% share of total imports.

Thailand, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2022, the average import price for wood boxes, crates and cable drums amounted to $X per unit, declining by X% against the previous year. Overall, the import price faced a abrupt slump. The pace of growth appeared the most rapid in 2021 when the average import price increased by X%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

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