The import of rubber or plastic vacuum moulders and thermoformers to the Philippines is expected to see a steady increase from $7.8492 million in 2024 to $9.2081 million in 2028. Taking 2023 as our base year, when the value stood at $7.5 million, we observe a consistent year-on-year growth. The projected year-on-year variation percentages are 4.5% for 2024, 4.5% for 2025, 4.2% for 2026, 3.9% for 2027, and 3.7% for 2028. Over the next five years, the Compound Annual Growth Rate (CAGR) is anticipated to be approximately 4.2%.
Future trends to watch for:
- Technological advancements in vacuum molders and thermoformers could drive demand.
- Any significant changes in trade policies or tariffs could impact future import values.
- The growth of the packaging industry in the Philippines will likely sustain or increase the demand for these machines.
