The import of webs, mattresses, and other nonwoven fibreglass products to the Philippines is forecasted to show a steady year-on-year increase from 2024 to 2028. In 2023, the volume stood at approximately 2.584 million kilograms. This is expected to rise to 2.6845 million kilograms in 2024, marking a 3.9% increase. By 2025, the import volume is predicted to reach 2.7888 million kilograms, growing by 3.9% from the previous year. The consistent growth trend continues with a forecasted import volume of 2.8911 million kilograms in 2026, reflecting a 3.7% increase. For 2027 and 2028, the growth rates are projected at 3.5% and 3.3%, respectively, with volumes reaching 2.9913 and 3.0895 million kilograms. The Compound Annual Growth Rate (CAGR) over the five-year period from 2024 to 2028 averages around 3.7%.
Future trends to watch for include potential fluctuations in import volumes due to changes in global supply chains, economic conditions that could impact demand, and innovations in alternative materials that may influence the market dynamics for fibreglass products. Additionally, regulatory changes and sustainability initiatives could affect import patterns and volumes.
