Market Research Report
Philippines Bathrooms 2018
|Published by||BRG Building Solutions||Product code||342230|
|Published||Content info||108 Pages
Delivery time: 1-2 business days
|Philippines Bathrooms 2018|
|Published: July 31, 2018||Content info: 108 Pages||
This report provides an in-depth analysis of the Filipino bathroom market including the monitoring of recent trend patterns and demand drivers, plus substantiated volume forecasts for the next 5 years.
The Philippines is one of the rapidly growing and emerging economies of Asia located in the Western Pacific Ocean. It is the 12th largest country in the world with a population exceeding 102 million. In recent years, the Philippines has shifted from being an agrarian economy to one which is based on the services sector. The country is also helped by sizeable remittances from abroad with a large Diaspora spread across the world.
The Filipino bathroom market has been a growing one owing to continued urbanization and rise in income levels. Of late, increasing penetration of bathroom products and healthy economic growth have attracted many foreign companies into the country. The Philippines being a price sensitive market, majority of the market is still concentrated in the lower and economy segments. A significant share of the market has been captured by the cheap Chinese imports in almost all major product categories. Of late, there has been a surge in demand for better quality products, particularly among the fast-rising middle class.
Sales of sanitary ware products continued to grow in 2017, although there was also a continued pressure on local manufacturers, particularly from low-cost Chinese imports which benefit from low import duties. Many sanitary ware manufacturers have diversified into provincial cities and this trend is expected to continue, keeping in view the Filipino government's plans to develop these areas. The growth of the
construction industry also had a positive impact on the sanitary ware sales during the year. Sales of faucets also grew, although almost all sales were accounted by imports, mainly from China, due to the absence of any local manufacturer. Synthetic baths, along with hydromassage baths witnessed a decline in 2017 sales but are expected to recover, based on increased housing completions and demand from the non-housing sector, boosted by an emphasis on tourism during the forecast period.
Many bathroom product companies have diversified into provincial cities and this trend is expected to continue, keeping in view the Filipino government's plans to develop these areas. It is expected that infrastructure development in the country would become more decentralized in future, which at present is concentrated in and around Metro Manila. This in turn, is expected to fuel further demand from the hinterland and provincial cities. With both economic growth and construction outlook being optimistic, the Filipino bathroom market is poised to grow further in the forthcoming years.
This report focuses on the following product categories: