Price for Furnaces and Ovens; Industrial or Laboratory Induction or Dielectric in the Philippines - 2024

Contents:

1. Price for Furnaces and Ovens; Industrial or Laboratory Induction or Dielectric in the Philippines (CIF) - 2022
2. Price for Furnaces and Ovens; Industrial or Laboratory Induction or Dielectric in the Philippines (FOB) - 2022
3. Imports of Furnaces and Ovens; Industrial or Laboratory Induction or Dielectric in the Philippines
4. Exports of Furnaces and Ovens; Industrial or Laboratory Induction or Dielectric in the Philippines

Price for Furnaces and Ovens; Industrial or Laboratory Induction or Dielectric in the Philippines (CIF) - 2022

In 2022, the average import price for furnaces and ovens; industrial or laboratory induction or dielectrics amounted to $2,284 per unit, increasing by 4.7% against the previous year. In general, the import price, however, continues to indicate a abrupt decline. The growth pace was the most rapid in 2021 an increase of 373% against the previous year. Over the period under review, average import prices attained the peak figure at $13,240 per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($12,983 per unit), while the price for China ($1,128 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Furnaces and Ovens; Industrial or Laboratory Induction or Dielectric in the Philippines (FOB) - 2022

In 2022, the average export price for furnaces and ovens; industrial or laboratory induction or dielectrics amounted to $83 per unit, waning by -95.5% against the previous year. Overall, the export price, however, enjoyed moderate growth. The pace of growth was the most pronounced in 2020 an increase of 2,331% against the previous year. Over the period under review, the average export prices attained the maximum at $5,316 per unit in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($377 per unit), while the average price for exports to Hong Kong SAR totaled $77 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+47.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Furnaces and Ovens; Industrial or Laboratory Induction or Dielectric in the Philippines

In 2022, supplies from abroad of furnaces and ovens; industrial or laboratory induction or dielectrics increased by 93% to 1.7K units for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, faced a sharp slump. Imports peaked at 5.3K units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, imports of furnaces and ovens; industrial or laboratory induction or dielectrics soared to $4.1M in 2022. Over the period under review, imports, however, showed a deep slump. Over the period under review, imports of reached the peak figure at $5.8M in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Top Suppliers of Furnaces and Ovens; Industrial or Laboratory Induction or Dielectric to the Philippines in 2022:

1. China (1354.0 units)
2. Japan (157.0 units)
3. United States (75.0 units)
4. Thailand (69.0 units)
5. South Korea (40.0 units)
6. Hong Kong SAR (27.0 units)
7. Taiwan (Chinese) (1.0 units)

Exports of Furnaces and Ovens; Industrial or Laboratory Induction or Dielectric in the Philippines

In 2022, exports of furnaces and ovens; industrial or laboratory induction or dielectrics from the Philippines shrank markedly to 59 units, which is down by -88% compared with the previous year. Overall, exports recorded a precipitous decline. The smallest decline of -13.4% was in 2021. Over the period under review, the exports of hit record highs at 1.7K units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of furnaces and ovens; industrial or laboratory induction or dielectrics dropped remarkably to $4.8K in 2022. Over the period under review, exports recorded a sharp reduction. The growth pace was the most rapid in 2020 with an increase of 141%. Over the period under review, the exports of attained the peak figure at $797K in 2021, and then shrank markedly in the following year.

Top Export Markets for Furnaces and Ovens; Industrial or Laboratory Induction or Dielectric from the Philippines in 2022:

1. Hong Kong SAR (58.0 units)
2. Japan (1.0 units)

Source: IndexBox Market Intelligence Platform