Philippines Plastics Market – Growth, Trends, and Forecast (2019 – 2024)

The market is segmented by Product Type (Traditional Plastics, Engineering Plastics, and Bio-plastics), Technology (Blow Molding, Extruding, Injection Molding, and Others), and Application (Packaging, Electrical & Electronics, Building & Construction, Automotive & Transportation, Housewares, Furniture & Bedding, and Others)

Market Snapshot

Philippines Plastics Market - Market Summary
Study Period:

2016-2024

Base Year:

2018

Key Players:

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Market Overview

The market for philippines plastics is expected to witness a CAGR of around 5% during the forecast period of 2019-2024. Major factors driving the market are the growing demand from various end-user industries and increasing government support for foreign investment. However, factors like over reliance on imports of raw material and finished plastics are likley to hinder the growth of the market studied.

  • The packaging application dominated the market in 2018 and is expected to grow during the forecast period.
  • Development of nnovative application products is likely to act as an opportunity in the future.

Scope of the Report

The philippines plastics market report includes:

Product Type
Traditional Plastics
Engineering Plastics
Bio-plastics
Technology
Technology
Extruding
Injection Molding
Others
Application
Packaging
Electrical & Electronics
Building & Construction
Automotive & Transportation
Housewares
Furniture & Bedding
Others

Report scope can be customized per your requirements. Click here.

Key Market Trends

Injection Molding Technology to Dominate the Market

  • Injection molding is mostly done using virgin or high-quality processing resins. High-performance plastic pallets are usually injection molded. Injection molding is a relatively capital-consuming process, but offers the advantage of high-speed processes.
  • Therefore, injection molding is found to be beneficial in the bulk production of plastic pallets. Injection molding processes are used in wire spools, packaging, bottle caps, automotive dashboards, pocket combs, etc.
  • The explosive growth of local automotive, packaging, and chemical processing industries, across the world, is expected to provide  a favorable market for injection molding.
  • Owing to the advantageous geographical location of Philippines, with easy access to the rapidly growing Asia-Pacific end users, the consumption of injection molded plastic pallets is expected to increase drastically. However, China leads the market, and holds a competitive edge, thereby hindering the growth of the Philippine plastics market to an extent.
  • Philippine government legislations and recycling reforms, in order to reduce plastic litter, further strengthen the market scenario for injection molding manufacturing processes.
  • Owing to the increasing demand from various end-user industries, the market for injection molding is projected to increase over the forecast period.
Philippines Plastics Market - Technology

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Construction Industry to Drive the Market Growth

  • Plastic hardware are corrosion resistant, which allows it to survive harsh weather conditions. They can also be recycled without losing any chemical properties. Most importantly, plastic materials are quite economical, which makes it an attractive option for applications in the construction sector.
  • In the building & construction sector, plastics are used as screws, hinges, electrical wiring, flooring, water proofing, decorative purposes, windows, door, sound & thermal insulation, roofing materials, sealants, cladding panels, lamination etc.
  • The rise in building and construction activities is the prominent factor augmenting the demand for plastics in the country.
  • Owing to the acceleration in both public and private construction, coupled with the initiatives like ‘Build, Build, Build’ program, the government is building more projects in the country. This, in turn, is likely to increase the construction industry growth in the country.
  • The Filipino government is largely focused on promoting various infrastructure development program and maintaining a steady economic growth in the upcoming years. Increasing growth in the Philippines building & construction industry is expected to drive the market for plastics.
Philippines Plastics Market - Segmentation

Competitive Landscape

The philippines plastics market is consolidated with the top five players accounting for major share of the market. Most of the market leaders are vertically integrated, with a broad product portfolio of plastics for packaging and building & construction, among others. The prominent players in the market include JG Summit Petrochemicals Group, Chemrez Technologies, NPC Alliance Corporation, Petron Corporation, and Philippine Resins Industries, Inc., among others.

Major Players

  1. JG Summit Petrochemicals Group
  2. Chemrez Technologies
  3. NPC Alliance Corporation
  4. Petron Corporation
  5. Philippine Resins Industries, Inc.

* Complete list of players covered available in the table of contents below

Philippines Plastics Market - Market Concentration

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the Report

    2. 1.2 Study Assumptions

    3. 1.3 Study Deliverables

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Demand In End-user Markets

      2. 4.1.2 Government Support

    2. 4.2 Restraints

      1. 4.2.1 Over-reliance On Imports Of Raw Materials and Finished Plastics

      2. 4.2.2 Environmental Concerns

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porters 5 Force Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 PESTEL Analysis

    6. 4.6 Imports and Exports

    7. 4.7 Price Analysis

    8. 4.8 Machinery and Technology

    9. 4.9 Government Plans & Policies

    10. 4.10 Macroeconomic Factors

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product Type

      1. 5.1.1 Traditional Plastics

      2. 5.1.2 Engineering Plastics

      3. 5.1.3 Bio-plastics

    2. 5.2 Technology

      1. 5.2.1 Technology

      2. 5.2.2 Extruding

      3. 5.2.3 Injection Molding

      4. 5.2.4 Others

    3. 5.3 Application

      1. 5.3.1 Packaging

      2. 5.3.2 Electrical & Electronics

      3. 5.3.3 Building & Construction

      4. 5.3.4 Automotive & Transportation

      5. 5.3.5 Housewares

      6. 5.3.6 Furniture & Bedding

      7. 5.3.7 Others

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles (Overview, Financials**, Products & services, and Recent Developments)

      1. 6.4.1 BASF SE

      2. 6.4.2 Chemrez Technologies Inc.

      3. 6.4.3 DowDupont

      4. 6.4.4 JG Summit Petrochemicals Group

      5. 6.4.5 LyondellBasell Industries Holdings B.V.

      6. 6.4.6 Nan Ya Plastics Corporation (Formosa Plastics Corporation)

      7. 6.4.7 NPC Alliance Corporation

      8. 6.4.8 Philippine Polypropylene Inc. (Petron)

      9. 6.4.9 Philippine Resins Industries Inc. (Tosoh Corporation)

      10. 6.4.10 SGS Philippines Inc.

      11. 6.4.11 Sumitomo Chemical Co. Ltd

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Innovative Applications/Products

**Subject to Availability

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