The import of mats of glass fibers to the Philippines stood at 2.363 million kilograms in 2023. The forecasted data shows a consistent increase in the volume, reaching 2.5712 million kilograms by 2028. Year-on-year variations indicate slight growth rates of around 1.8% to 2.0% annually. Over the entire period from 2023 to 2028, the compound annual growth rate (CAGR) is approximately 1.8%.
Future trends to watch for:
- Increased demand in construction and infrastructure projects that could drive higher imports.
- Technological advancements and shifts towards sustainable materials may impact the market dynamics.
- Monitoring changes in international trade policies or tariffs that could affect import costs and volumes.
