Philippines: Way-Type Unit Head Market 2024

Way-Type Unit Head Market Size in the Philippines

The Philippine way-type unit head market dropped significantly to $X in 2021, with a decrease of -33.7% 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 saw a sharp shrinkage. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Way-Type Unit Head Exports

Exports from the Philippines

In 2021, overseas shipments of way-type unit heads for working metal were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports saw a buoyant expansion. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, way-type unit head exports skyrocketed to $X in 2021. In general, exports, however, recorded a deep reduction. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Indonesia (X tons) was the main destination for way-type unit head exports from the Philippines, accounting for a 72% share of total exports. Moreover, way-type unit head exports to Indonesia exceeded the volume sent to the second major destination, Myanmar (X kg), fivefold. The third position in this ranking was held by Japan (X kg), with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Indonesia totaled +24.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (+104.4% per year) and Japan (+30.5% per year).

In value terms, the largest markets for way-type unit head exported from the Philippines were Indonesia ($X), Singapore ($X) and Japan ($X), together comprising 95% of total exports. These countries were followed by Myanmar, which accounted for a further 4.3%.

Myanmar, with a CAGR of +68.2%, recorded the highest growth rate of 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 2021, the average way-type unit head export price amounted to $X per ton, jumping by 53% against the previous year. Over the period under review, the export price, however, showed a dramatic descent. The pace of growth was the most pronounced in 2015 an increase of 61% 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 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+4.2%), while the prices for the other major destinations experienced a decline.

Way-Type Unit Head Imports

Imports into the Philippines

In 2021, approx. X tons of way-type unit heads for working metal were imported into the Philippines; with a decrease of -2.4% against 2020. In general, imports showed a abrupt curtailment. The pace of growth was the most pronounced in 2018 with an increase of 577% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, way-type unit head imports rose to $X in 2021. Overall, imports showed a abrupt setback. The most prominent rate of growth was recorded in 2018 with an increase of 1,705% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Taiwan (Chinese) (X tons) constituted the largest supplier of way-type unit head to the Philippines, accounting for a 56% share of total imports. Moreover, way-type unit head imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), fourfold. China (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from Taiwan (Chinese) totaled -7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+15.1% per year) and China (+4.0% per year).

In value terms, the largest way-type unit head suppliers to the Philippines were Taiwan (Chinese) ($X), China ($X) and Japan ($X), together accounting for 81% of total imports.

China, with a CAGR of +16.7%, 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 way-type unit head import price stood at $X per ton in 2021, increasing by 7.4% against the previous year. In general, the import price, however, recorded a perceptible downturn. The pace of growth was the most pronounced in 2019 an increase of 224% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+12.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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