Price for Glass Mirrors; Whether or Not Framed, Including Rear-View Mirrors in the Philippines - 2023
Contents:
- Price for Glass Mirrors; Whether or Not Framed, Including Rear-View Mirrors in the Philippines (FOB) - 2023
- Price for Glass Mirrors; Whether or Not Framed, Including Rear-View Mirrors in the Philippines (CIF) - 2022
- Exports of Glass Mirrors; Whether or Not Framed, Including Rear-View Mirrors in the Philippines
- Imports of Glass Mirrors; Whether or Not Framed, Including Rear-View Mirrors in the Philippines
Price for Glass Mirrors; Whether or Not Framed, Including Rear-View Mirrors in the Philippines (FOB) - 2023
In September 2023, the average export price for glass mirrors; whether or not framed, including rear-view mirrorses amounted to $4.5 per unit, rising by 22% against the previous month. Over the period under review, the export price showed resilient growth. The pace of growth appeared the most rapid in January 2023 when the average export price increased by 152% m-o-m. Over the period under review, the average export prices attained the peak figure in September 2023.
Prices varied noticeably by the country of destination: the country with the highest price was the United States ($4.6 per unit), while the average price for exports to China amounted to $2.8 per unit.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (+11.0%).
Price for Glass Mirrors; Whether or Not Framed, Including Rear-View Mirrors in the Philippines (CIF) - 2022
In 2022, the average import price for glass mirrors; whether or not framed, including rear-view mirrorses amounted to $0.3 per unit, standing approx. at the previous year. Over the period under review, import price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for glass mirrors; whether or not framed, including rear-view mirrorses increased by +28.3% against 2020 indices. The growth pace was the most rapid in 2021 an increase of 27% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in the immediate term.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($1 per unit), while the price for China ($0.3 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+9.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Glass Mirrors; Whether or Not Framed, Including Rear-View Mirrors in the Philippines
For the fourth year in a row, the Philippines recorded growth in shipments abroad of glass mirrors; whether or not framed, including rear-view mirrorses, which increased by 425% to 31M units in 2022. Over the period under review, exports showed significant growth. The pace of growth appeared the most rapid in 2020 when exports increased by 961%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.
In value terms, exports of glass mirrors; whether or not framed, including rear-view mirrorses soared to $35M in 2022. Overall, exports continue to indicate a significant expansion. The growth pace was the most rapid in 2020 with an increase of 817%. Over the period under review, the exports of attained the maximum in 2022 and are expected to retain growth in years to come.
| Export of Glass Mirrors; Whether or Not Framed, Including Rear-View Mirrors in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | N/A | 6.3 | 5.9 | 17.3 | 65.7% |
| Singapore | N/A | N/A | N/A | 11.6 | 0% |
| Hong Kong SAR | N/A | N/A | N/A | 5.3 | 0% |
| United States | 0.5 | 0.4 | 1.0 | 0.8 | 17.0% |
| Others | 0.3 | 0.4 | 0.4 | 0.2 | -12.6% |
| Total | 0.8 | 7.1 | 7.3 | 35.2 | 253.0% |
Top Export Markets for Glass Mirrors; Whether or Not Framed, Including Rear-View Mirrors from the Philippines in 2022:
- China (22.4M units)
- Singapore (6.1M units)
- Hong Kong SAR (1.8M units)
- United States (0.3M units)
Imports of Glass Mirrors; Whether or Not Framed, Including Rear-View Mirrors in the Philippines
In 2022, approx. 36M units of glass mirrors; whether or not framed, including rear-view mirrorses were imported into the Philippines; which is down by -3.6% compared with 2021. In general, imports showed a abrupt downturn. The pace of growth appeared the most rapid in 2021 when imports increased by 16%. Imports peaked at 44M units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.
In value terms, imports of glass mirrors; whether or not framed, including rear-view mirrorses fell slightly to $12M in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 48%. As a result, imports attained the peak of $13M, and then fell modestly in the following year.
| Import of Glass Mirrors; Whether or Not Framed, Including Rear-View Mirrors in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 8.2 | 6.6 | 6.9 | 6.9 | -5.6% |
| Malaysia | N/A | 0.1 | 2.0 | 2.6 | 409.9% |
| Japan | 0.3 | 0.5 | 0.8 | 0.8 | 38.7% |
| Thailand | 0.8 | 0.6 | 0.9 | 0.7 | -4.4% |
| Indonesia | 0.4 | 0.3 | 0.9 | 0.3 | -9.1% |
| Others | 2.5 | 0.7 | 1.4 | 1.2 | -21.7% |
| Total | 12.2 | 8.7 | 12.8 | 12.5 | 0.8% |
Top Suppliers of Glass Mirrors; Whether or Not Framed, Including Rear-View Mirrors to the Philippines in 2022:
- China (25.9M units)
- Malaysia (6.6M units)
- Thailand (1.3M units)
- Indonesia (0.9M units)
- Japan (0.8M units)
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This report provides an in-depth analysis of the market for glass rear-view vehicle mirror in the Philippines.
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This report provides an in-depth analysis of the market for glass rear-view vehicle mirror in the Philippines.
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This report provides an in-depth analysis of the global market for glass rear-view vehicle mirror.
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