Phenols; Phenol-Alcohols Price in the Philippines - 2023

Phenols; Phenol-Alcohols Price in the Philippines (CIF) - 2022

In 2022, the average phenols; phenol-alcohols import price amounted to $2,064 per ton, picking up by 10% against the previous year. Over the period under review, the import price continues to indicate a buoyant increase. The growth pace was the most rapid in 2015 when the average import price increased by 46% against the previous year. The import price peaked in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($10,341 per ton), while the price for Taiwan (Chinese) ($1,398 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+22.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Phenols; Phenol-Alcohols Price in the Philippines (FOB) - 2022

The average phenols; phenol-alcohols export price stood at $11,471 per ton in 2022, which is down by -13.6% against the previous year. Over the period under review, the export price, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2018 an increase of 63%. The export price peaked at $13,273 per ton in 2021, and then reduced in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was India ($44,069 per ton), while the average price for exports to Malaysia totaled $11,250 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+32.0%), while the prices for the other major destinations experienced mixed trend patterns.

Phenols; Phenol-Alcohols Imports in the Philippines

In 2022, imports of phenols; phenol-alcoholses into the Philippines surged to 4.9K tons, with an increase of 17% on the year before. Overall, imports, however, saw a abrupt setback. The pace of growth was the most pronounced in 2021 when imports increased by 60%.

In value terms, phenols; phenol-alcohols imports soared to $10M in 2022. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 71%.

Import of Phenols; Phenol-Alcohols in the Philippines (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Taiwan (Chinese)	2.5	0.1	0.2	6.0	33.9%
Japan	1.1	1.1	1.5	1.9	20.0%
China	0.3	0.5	0.6	0.4	10.1%
Singapore	2.8	0.1	0.3	0.1	-67.1%
Thailand	2.4	1.4	3.0	N/A	11.8%
Others	1.3	1.3	2.2	1.5	4.9%
Total	10.3	4.5	7.7	10.0	-1.0%

Top Suppliers of Phenols; Phenol-Alcohols to the Philippines in 2022:

Taiwan (Chinese) (4305.9 tons)
Japan (187.9 tons)
China (115.7 tons)
Singapore (20.9 tons)
Thailand (0.5 tons)

Phenols; Phenol-Alcohols Exports in the Philippines

In 2022, shipments abroad of phenols; phenol-alcoholses decreased by -19.1% to 4.3 tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, enjoyed significant growth. The growth pace was the most rapid in 2020 when exports increased by 99% against the previous year.

In value terms, phenols; phenol-alcohols exports dropped sharply to $49K in 2022. In general, exports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2021 when exports increased by 151%. As a result, the exports attained the peak of $70K, and then declined notably in the following year.