Chromium Trioxide Price in the Philippines - 2023
Contents:
Chromium Trioxide Price in the Philippines (CIF) - 2022
In 2022, the average chromium trioxide import price amounted to $5,950 per ton, with an increase of 28% against the previous year. Overall, import price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, chromium trioxide import price increased by +118.7% against 2017 indices. The growth pace was the most rapid in 2020 when the average import price increased by 43%. Over the period under review, average import prices attained the maximum in 2022 and is likely to see steady growth in the immediate term.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($8,201 per ton), while the price for Turkey stood at $5,714 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+3.3%), while the prices for the other major suppliers experienced mixed trend patterns.
Chromium Trioxide Imports in the Philippines
Chromium trioxide imports into the Philippines dropped significantly to 40 tons in 2022, which is down by -43.4% compared with the previous year. Over the period under review, imports faced a drastic downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 226% against the previous year. As a result, imports attained the peak of 70 tons, and then contracted markedly in the following year.
In value terms, chromium trioxide imports fell markedly to $236K in 2022. Overall, imports, however, showed a measured expansion. The pace of growth was the most pronounced in 2021 when imports increased by 196%. As a result, imports reached the peak of $325K, and then reduced markedly in the following year.
| Import of Chromium Trioxide in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Turkey | 82.8 | 82.8 | 132 | 206 | 35.5% |
| Japan | N/A | 23.6 | 38.1 | 29.5 | 11.8% |
| Russia | 55.6 | N/A | N/A | N/A | 0% |
| China | 73.7 | N/A | N/A | N/A | 0% |
| United States | N/A | N/A | 149 | N/A | 0% |
| Others | 3.6 | 3.7 | 5.2 | 0.4 | -51.9% |
| Total | 216 | 110 | 325 | 236 | 3.0% |
Top Suppliers of Chromium Trioxide to the Philippines in 2022:
- Turkey (36.0 tons)
- Japan (3.6 tons)
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