Philippines Plastic Industry Research Report 2024-2033
The Philippines is an archipelago country located in Southeast Asia with a land area of approximately 300,000 square kilometers. As of the end of 2023, its population was about 117 million, making it the second-largest consumer market in Southeast Asia, after Indonesia. Since 2000, the Philippines' economy has been on a rapid upward trajectory. Over the past decade, the country's Gross Domestic Product (GDP) grew from US$ 288.15 billion in 2014 to US$ 430.52 billion in 2023, with a compound annual growth rate (CAGR) of 4.6%.
Although the Philippines' GDP growth rate of 5.6% in 2023 fell short of the government's target of 6% to 7% and was lower than the 7.6% growth rate in 2022, it remains one of the fastest-growing economies in Southeast Asia.
Driven by the growth of the manufacturing sector and the booming e-commerce industry, the demand of the plastics industry in the Philippines has increased rapidly. According to CRI, plastics are widely used in the manufacturing sector in the Philippines, especially in the packaging and automotive industries. Injection molding systems are in high demand in these industries for producing items such as bottle caps, packaging materials, car dashboards, trays, etc. In addition, extrusion molding is an important production process used for manufacturing plastic parts such as drinking straws, pipes, curtain tracks, wall components, wall protection parts, and automotive parts.
The plastics industry in the Philippines is highly dependent on imports, with over US$ 2 billion worth of plastic raw materials and products imported annually. According to CRI, in 2023, the import value of plastic raw materials and products in the Philippines reached US$ 2.68 billion, accounting for 2.1% of the country's total imports for the year.
Despite the driving factors, the plastics industry in the Philippines faces some market obstacles. Although the country's economic growth is commendable, it is essentially still a developing country, and many regions remain at the poverty line, leading to widespread use of plastic bags. Filipinos use over 163 million small plastic bags, 480,000 shopping bags, and 450,000 thin film bags daily, with less than 9% being recycled.
Environmental organizations in the Philippines have long advocated for a ban on single-use plastic products, submitting hundreds of proposed laws and resolutions to Congress over the past decade to support this call. Finally, in 2022, the Philippine Congress passed the Extended Producer Responsibility (EPR) Act, requiring companies with assets exceeding 100 million Philippine pesos to develop a plan to recycle an equivalent amount of the plastic they produce, or face fines of at least 5 million Philippine pesos.
The market concentration of the plastics industry in the Philippines is high. According to CRI, the key players in the Philippine plastics market include JG Summit Petrochemicals Group, Chemrez Technologies, NPC Alliance Corporation, Dupont, Philippines Polypropylene Inc., SGS Philippines Inc., and Philippine Resins Industries Inc.
With the continuous growth of the Philippine economy and population, the market size of the plastics industry in the Philippines is expected to continue to grow, and the import value of plastic raw materials and products will also increase. According to CRI, the import value of plastic raw materials and products in the Philippines is expected to reach US$3.66 billion by 2033, with a compound annual growth rate (CAGR) of 3.5% from 2024 to 2033.
Topics covered:
Although the Philippines' GDP growth rate of 5.6% in 2023 fell short of the government's target of 6% to 7% and was lower than the 7.6% growth rate in 2022, it remains one of the fastest-growing economies in Southeast Asia.
Driven by the growth of the manufacturing sector and the booming e-commerce industry, the demand of the plastics industry in the Philippines has increased rapidly. According to CRI, plastics are widely used in the manufacturing sector in the Philippines, especially in the packaging and automotive industries. Injection molding systems are in high demand in these industries for producing items such as bottle caps, packaging materials, car dashboards, trays, etc. In addition, extrusion molding is an important production process used for manufacturing plastic parts such as drinking straws, pipes, curtain tracks, wall components, wall protection parts, and automotive parts.
The plastics industry in the Philippines is highly dependent on imports, with over US$ 2 billion worth of plastic raw materials and products imported annually. According to CRI, in 2023, the import value of plastic raw materials and products in the Philippines reached US$ 2.68 billion, accounting for 2.1% of the country's total imports for the year.
Despite the driving factors, the plastics industry in the Philippines faces some market obstacles. Although the country's economic growth is commendable, it is essentially still a developing country, and many regions remain at the poverty line, leading to widespread use of plastic bags. Filipinos use over 163 million small plastic bags, 480,000 shopping bags, and 450,000 thin film bags daily, with less than 9% being recycled.
Environmental organizations in the Philippines have long advocated for a ban on single-use plastic products, submitting hundreds of proposed laws and resolutions to Congress over the past decade to support this call. Finally, in 2022, the Philippine Congress passed the Extended Producer Responsibility (EPR) Act, requiring companies with assets exceeding 100 million Philippine pesos to develop a plan to recycle an equivalent amount of the plastic they produce, or face fines of at least 5 million Philippine pesos.
The market concentration of the plastics industry in the Philippines is high. According to CRI, the key players in the Philippine plastics market include JG Summit Petrochemicals Group, Chemrez Technologies, NPC Alliance Corporation, Dupont, Philippines Polypropylene Inc., SGS Philippines Inc., and Philippine Resins Industries Inc.
With the continuous growth of the Philippine economy and population, the market size of the plastics industry in the Philippines is expected to continue to grow, and the import value of plastic raw materials and products will also increase. According to CRI, the import value of plastic raw materials and products in the Philippines is expected to reach US$3.66 billion by 2033, with a compound annual growth rate (CAGR) of 3.5% from 2024 to 2033.
Topics covered:
- Overview of the Philippines’ Plastics Industry
- Economic Conditions and Policies for the Philippines’ Plastics Industry
- How Foreign Investment Enters the Philippines’ Plastics Market
- Market Size of the Philippines' Plastics Industry (2024-2033)
- Analysis of Major Plastics Manufacturers in the Philippines
- Key Drives and Market Opportunities for the Plastics Industry in the Philippines
- What are the Major Drivers, Challenges, and Opportunities for the Plastics Industry in the Philippines during the Forecast Period 2024-2033?
- Who are the Main Players in the Philippines’ Plastics Market and What are their Competitive Advantages?
- What is the Expected Revenue of the Philippines’ Plastics Market during the Forecast Period 2024-2033?
- What Strategies have the Major Market Players Adopted to Increase their Market Share in the Industry?
- Which Segment of the Philippines’ Plastics Market is Expected to Dominate the Market by 2032?
- What are the Main Adverse Factors Facing the Philippines Plastics Industry?
1. OVERVIEW OF THE PHILIPPINES
1.1 Geography
1.2 Demographics of the Philippines
1.3 Economic of the Philippines
1.4. Minimum Wage in the Philippines, 2015-2024
1.5. Impact of COVID-19 on the Philippines’ Plastics Industry
2. DEVELOPMENT ENVIRONMENT OF THE PLASTICS INDUSTRY IN THE PHILIPPINES
2.1. History of the Plastics Industry in the Philippines
2.2. Categories of Plastics in the Philippines
2.3. Policies for the Plastics Industry in the Philippines
3. SUPPLY AND DEMAND OF THE PLASTICS INDUSTRY IN THE PHILIPPINES
3.1. Supply of the Plastics Industry in the Philippines
3.1.1. Production Capacity
3.1.2. Production Volume
3.2. Demand of the Plastics Industry in the Philippines
3.2.1. Demand Volume
3.2.2. Market Size
4. IMPORT AND EXPORT OF THE PLASTICS INDUSTRY IN THE PHILIPPINES
4.1. Import of the Plastics Industry in the Philippines
4.1.1. Import Volume and Value of Plastics in the Philippines
4.1.2. Main Suppliers of Plastics Imports in the Philippines
4.2. Export of the Plastics Industry in the Philippines
4.2.1. Export Volume and Value of Plastics in the Philippines
4.2.2. Main Destinations of Plastics Exports in the Philippines
5. MARKET COMPETITION OF THE PHILIPPINES’ PLASTICS INDUSTRY
5.1. Barriers to Entry in the Philippines’ Plastics Industry
5.1.1. Brand Barriers
5.1.2. Quality Barriers
5.1.3. Capital Barriers
5.2. Competitive Structure of the Philippines’ Plastics Industry
5.2.1. Bargaining Power of Plastics Suppliers
5.2.2. Bargaining Power of Consumers
5.2.3. Competitive Landscape of the Philippines’ Plastics Industry
5.2.4. Potential Entrants in the Plastics Industry
5.2.5. Substitutes for Plastics Products
6. ANALYSIS OF MAJOR PLASTICS BRANDS IN THE PHILIPPINES
6.1. Chemrez Technologies Inc.
6.1.1. History of Chemrez Technologies Inc.
6.1.2. Main Products of Chemrez Technologies Inc.
6.1.3. Operating Model of Chemrez Technologies Inc.
6.2. Dupont
6.2.1. History of Dupont
6.2.2. Main Products of Dupont
6.2.3. Operating Model of Dupont
6.3. JG Summit Petrochemicals Group
6.3.1. History of JG Summit Petrochemicals Group
6.3.2. Main Products of JG Summit Petrochemicals Group
6.3.3. Operating Model of JG Summit Petrochemicals Group
6.4. LyondellBasell Industries Holdings BV
6.4.1. History of LyondellBasell Industries Holdings BV
6.4.2. Main Products of LyondellBasell Industries Holdings BV
6.4.3. Operating Model of LyondellBasell Industries Holdings BV
6.5. NPC Alliance Corporation (NPCA)
6.5.1. History of NPC Alliance Corporation (NPCA)
6.5.2. Main Products of NPC Alliance Corporation (NPCA)
6.5.3. Operating Model of NPC Alliance Corporation (NPCA)
6.6. Philippine Resins Industries Inc. (PRII)
6.6.1. History of Philippine Resins Industries Inc. (PRII)
6.6.2. Main Products of Philippine Resins Industries Inc. (PRII)
6.6.3. Operating Model of Philippine Resins Industries Inc. (PRII)
6.7. Nan Ya Plastics Corporation
6.7.1. History of Nan Ya Plastics Corporation
6.7.2. Main Products of Nan Ya Plastics Corporation
6.7.3. Operating Model of Nan Ya Plastics Corporation
6.8. Philippines Polypropylene Inc. (Petron Corporation)
6.8.1. History of Philippines Polypropylene Inc. (Petron Corporation)
6.8.2. Main Products of Philippines Polypropylene Inc. (Petron Corporation)
6.8.3. Operating Model of Philippines Polypropylene Inc. (Petron Corporation)
6.9. SGS Philippines Inc
6.9.1. History of SGS Philippines Inc
6.9.2. Main Products of SGS Philippines Inc
6.9.3. Operating Model of SGS Philippines Inc
6.10. Sumitomo Chemical Co. Ltd
6.10.1. History of Sumitomo Chemical Co. Ltd
6.10.2. Main Products of Sumitomo Chemical Co. Ltd
6.10.3. Operating Model of Sumitomo Chemical Co. Ltd
7. OUTLOOK FOR THE PHILIPPINES’ PLASTICS INDUSTRY (2024-2033)
7.1. Development Factors of the Philippines’ Plastics Industry
7.1.1. Drivers and Opportunities of the Plastics Industry in the Philippines
7.1.2. Threats and Challenges facing the Plastics Industry in the Philippines
7.2. Market Supply Forecast for the Plastics Industry in the Philippines
7.3. Market Demand Forecast for the Plastics Industry in the Philippines
7.4. Import and Export Forecast for the Plastics Industry in the Philippines
1.1 Geography
1.2 Demographics of the Philippines
1.3 Economic of the Philippines
1.4. Minimum Wage in the Philippines, 2015-2024
1.5. Impact of COVID-19 on the Philippines’ Plastics Industry
2. DEVELOPMENT ENVIRONMENT OF THE PLASTICS INDUSTRY IN THE PHILIPPINES
2.1. History of the Plastics Industry in the Philippines
2.2. Categories of Plastics in the Philippines
2.3. Policies for the Plastics Industry in the Philippines
3. SUPPLY AND DEMAND OF THE PLASTICS INDUSTRY IN THE PHILIPPINES
3.1. Supply of the Plastics Industry in the Philippines
3.1.1. Production Capacity
3.1.2. Production Volume
3.2. Demand of the Plastics Industry in the Philippines
3.2.1. Demand Volume
3.2.2. Market Size
4. IMPORT AND EXPORT OF THE PLASTICS INDUSTRY IN THE PHILIPPINES
4.1. Import of the Plastics Industry in the Philippines
4.1.1. Import Volume and Value of Plastics in the Philippines
4.1.2. Main Suppliers of Plastics Imports in the Philippines
4.2. Export of the Plastics Industry in the Philippines
4.2.1. Export Volume and Value of Plastics in the Philippines
4.2.2. Main Destinations of Plastics Exports in the Philippines
5. MARKET COMPETITION OF THE PHILIPPINES’ PLASTICS INDUSTRY
5.1. Barriers to Entry in the Philippines’ Plastics Industry
5.1.1. Brand Barriers
5.1.2. Quality Barriers
5.1.3. Capital Barriers
5.2. Competitive Structure of the Philippines’ Plastics Industry
5.2.1. Bargaining Power of Plastics Suppliers
5.2.2. Bargaining Power of Consumers
5.2.3. Competitive Landscape of the Philippines’ Plastics Industry
5.2.4. Potential Entrants in the Plastics Industry
5.2.5. Substitutes for Plastics Products
6. ANALYSIS OF MAJOR PLASTICS BRANDS IN THE PHILIPPINES
6.1. Chemrez Technologies Inc.
6.1.1. History of Chemrez Technologies Inc.
6.1.2. Main Products of Chemrez Technologies Inc.
6.1.3. Operating Model of Chemrez Technologies Inc.
6.2. Dupont
6.2.1. History of Dupont
6.2.2. Main Products of Dupont
6.2.3. Operating Model of Dupont
6.3. JG Summit Petrochemicals Group
6.3.1. History of JG Summit Petrochemicals Group
6.3.2. Main Products of JG Summit Petrochemicals Group
6.3.3. Operating Model of JG Summit Petrochemicals Group
6.4. LyondellBasell Industries Holdings BV
6.4.1. History of LyondellBasell Industries Holdings BV
6.4.2. Main Products of LyondellBasell Industries Holdings BV
6.4.3. Operating Model of LyondellBasell Industries Holdings BV
6.5. NPC Alliance Corporation (NPCA)
6.5.1. History of NPC Alliance Corporation (NPCA)
6.5.2. Main Products of NPC Alliance Corporation (NPCA)
6.5.3. Operating Model of NPC Alliance Corporation (NPCA)
6.6. Philippine Resins Industries Inc. (PRII)
6.6.1. History of Philippine Resins Industries Inc. (PRII)
6.6.2. Main Products of Philippine Resins Industries Inc. (PRII)
6.6.3. Operating Model of Philippine Resins Industries Inc. (PRII)
6.7. Nan Ya Plastics Corporation
6.7.1. History of Nan Ya Plastics Corporation
6.7.2. Main Products of Nan Ya Plastics Corporation
6.7.3. Operating Model of Nan Ya Plastics Corporation
6.8. Philippines Polypropylene Inc. (Petron Corporation)
6.8.1. History of Philippines Polypropylene Inc. (Petron Corporation)
6.8.2. Main Products of Philippines Polypropylene Inc. (Petron Corporation)
6.8.3. Operating Model of Philippines Polypropylene Inc. (Petron Corporation)
6.9. SGS Philippines Inc
6.9.1. History of SGS Philippines Inc
6.9.2. Main Products of SGS Philippines Inc
6.9.3. Operating Model of SGS Philippines Inc
6.10. Sumitomo Chemical Co. Ltd
6.10.1. History of Sumitomo Chemical Co. Ltd
6.10.2. Main Products of Sumitomo Chemical Co. Ltd
6.10.3. Operating Model of Sumitomo Chemical Co. Ltd
7. OUTLOOK FOR THE PHILIPPINES’ PLASTICS INDUSTRY (2024-2033)
7.1. Development Factors of the Philippines’ Plastics Industry
7.1.1. Drivers and Opportunities of the Plastics Industry in the Philippines
7.1.2. Threats and Challenges facing the Plastics Industry in the Philippines
7.2. Market Supply Forecast for the Plastics Industry in the Philippines
7.3. Market Demand Forecast for the Plastics Industry in the Philippines
7.4. Import and Export Forecast for the Plastics Industry in the Philippines
LIST OF CHARTS
Chart Population of the Philippines, 2009-2023
Chart GDP Per Capita in the Philippines, 2014-2023
Chart Related Policies Issued by the Philippines Government for Plastics Raw Materials Industry, 2019-2023
Chart Production of Plastics Raw Materials in the Philippines, 2019-2023
Chart Plastics Raw Materials Domestic Consumption in the Philippines, 2019-2023
Chart Import Volume of Plastics Raw Materials in the Philippines, 2019-2023
Chart Import Value of Plastics Raw Materials in the Philippines, 2019-2023
Chart Main Suppliers and their Import Values of Plastics Raw Materials Imports in the Philippines, 2019-2023
Chart Export Volume of Plastics Raw Materials and Final Products in the Philippines, 2019-2023
Chart Export Value of Plastics Raw Materials and Final Products in the Philippines, 2019-2023
Chart Main Export Destinations and their Export Values for Plastics Raw Materials from the Philippines, 2019-2023
Chart Production Forecast for the Philippines Plastics Raw Materials, 2024-2033
Chart Domestic Market Size Forecast for the Philippines Plastics Raw Materials, 2024-2033
Chart Import Forecast for the Philippines Plastics Raw Materials, 2024-2033
Chart Export Forecast for the Philippines Plastics Raw Materials, 2024-2033
Chart Population of the Philippines, 2009-2023
Chart GDP Per Capita in the Philippines, 2014-2023
Chart Related Policies Issued by the Philippines Government for Plastics Raw Materials Industry, 2019-2023
Chart Production of Plastics Raw Materials in the Philippines, 2019-2023
Chart Plastics Raw Materials Domestic Consumption in the Philippines, 2019-2023
Chart Import Volume of Plastics Raw Materials in the Philippines, 2019-2023
Chart Import Value of Plastics Raw Materials in the Philippines, 2019-2023
Chart Main Suppliers and their Import Values of Plastics Raw Materials Imports in the Philippines, 2019-2023
Chart Export Volume of Plastics Raw Materials and Final Products in the Philippines, 2019-2023
Chart Export Value of Plastics Raw Materials and Final Products in the Philippines, 2019-2023
Chart Main Export Destinations and their Export Values for Plastics Raw Materials from the Philippines, 2019-2023
Chart Production Forecast for the Philippines Plastics Raw Materials, 2024-2033
Chart Domestic Market Size Forecast for the Philippines Plastics Raw Materials, 2024-2033
Chart Import Forecast for the Philippines Plastics Raw Materials, 2024-2033
Chart Export Forecast for the Philippines Plastics Raw Materials, 2024-2033
