Price for Acids; Saturated Acyclic Monocarboxylic Acids; Esters of Formic Acid in the Philippines - 2023
Contents:
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Esters of Formic Acid in the Philippines (CIF) - 2022
- Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Esters of Formic Acid in the Philippines
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Esters of Formic Acid in the Philippines (CIF) - 2022
In 2022, the average import price for acids; saturated acyclic monocarboxylic acids; esters of formic acids amounted to $10,006 per ton, rising by 46% against the previous year. Overall, the import price, however, recorded a slight decline. The most prominent rate of growth was recorded in 2017 an increase of 46% against the previous year. The import price peaked at $11,391 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.
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 the United States ($64,274 per ton), while the price for China ($6,789 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Esters of Formic Acid in the Philippines
In 2022, imports of acids; saturated acyclic monocarboxylic acids; esters of formic acids into the Philippines skyrocketed to 8.7 tons, with an increase of 178% against 2021 figures. Overall, imports posted significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of acids; saturated acyclic monocarboxylic acids; esters of formic acids skyrocketed to $87K in 2022. In general, imports enjoyed a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Acids; Saturated Acyclic Monocarboxylic Acids; Esters of Formic Acid in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 20.0 | 19.2 | 17.7 | 51.5 | 37.1% |
| United States | 0.5 | 2.0 | 0.9 | 19.7 | 240.3% |
| India | 0.8 | 0.9 | 0.8 | 10.2 | 133.6% |
| Others | 2.4 | 1.7 | 2.0 | 5.7 | 33.4% |
| Total | 23.7 | 23.8 | 21.4 | 87.1 | 54.3% |
Top Suppliers of Acids; Saturated Acyclic Monocarboxylic Acids; Esters of Formic Acid to the Philippines in 2022:
- China (7.6 tons)
- India (0.7 tons)
- United States (0.3 tons)
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