Philippines - Flat-Rolled Products of Iron or Non-Alloy Steel - Market Analysis, Forecast, Size, Trends and Insights
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Flat-Rolled Steel Products Market Size in the Philippines
In 2023, after two years of growth, there was significant decline in the Philippine flat-rolled steel products market, when its value decreased by X% to $X. Overall, consumption, however, recorded noticeable growth. As a result, consumption reached the peak level of $X, and then dropped sharply in the following year.
Flat-Rolled Steel Products Exports
Exports from the Philippines
Flat-rolled steel products exports from the Philippines plummeted to X tons in 2023, shrinking by X% against the previous year. Overall, exports, however, showed strong growth. The growth pace was the most rapid in 2014 when exports increased by X%. The exports peaked at X tons in 2017; however, from 2018 to 2023, the exports failed to regain momentum.
In value terms, flat-rolled steel products exports fell sharply to $X in 2023. In general, exports, however, saw resilient growth. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2023, the exports failed to regain momentum.
Exports by Country
India (X tons), Malaysia (X tons) and the United States (X tons) were the main destinations of flat-rolled steel products exports from the Philippines, with a combined X% share of total exports.
From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malaysia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.
In value terms, the United States ($X), Malaysia ($X) and India ($X) appeared to be the largest markets for flat-rolled steel products exported from the Philippines worldwide, with a combined X% share of total exports.
Among the main countries of destination, Malaysia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
The average flat-rolled steel products export price stood at $X per ton in 2023, dropping by X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2022 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton, and then declined in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (X%), while the prices for the other major destinations experienced more modest paces of growth.
Flat-Rolled Steel Products Imports
Imports into the Philippines
In 2023, imports of flat-rolled products of iron or non-alloy steel into the Philippines dropped significantly to X tons, declining by X% on 2022 figures. Overall, total imports indicated a slight increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2022, and then shrank dramatically in the following year.
In value terms, flat-rolled steel products imports fell notably to $X in 2023. Over the period under review, imports, however, continue to indicate measured growth. The pace of growth was the most pronounced in 2022 when imports increased by X%. As a result, imports reached the peak of $X, and then contracted rapidly in the following year.
Imports by Country
Japan (X tons), China (X tons) and South Korea (X tons) were the main suppliers of flat-rolled steel products imports to the Philippines, with a combined X% share of total imports. Malaysia, the United States, Taiwan (Chinese) and South Africa lagged somewhat behind, together accounting for a further X%.
From 2012 to 2023, the biggest increases were recorded for Malaysia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, Japan ($X) constituted the largest supplier of flat-rolled products of iron or non-alloy steel to the Philippines, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of value from Japan amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and South Korea (X% per year).
Import Prices by Country
The average flat-rolled steel products import price stood at $X per ton in 2023, shrinking by X% against the previous year. Overall, import price indicated a temperate increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, flat-rolled steel products import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2022 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton, and then declined dramatically in the following year.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Japan (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the flat-rolled steel products market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 24105110 - Tinplate, other tinned sheet and strip, including electrolytically chromium coated steel (ECCS)
- Prodcom 243220Z1 - Steel sheet and strip as well as cold-rolled slit strip (of nonalloy steel), hot-dipped or electrolytically metal-coated, of a width < .600 mm
Country coverage:
- Philippines
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the Philippines
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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