Philippines: Epoxide Resin Market 2024

Epoxide Resin Market Size in the Philippines

The Philippine epoxide resin market rose slightly to $X in 2022, increasing by X% against the previous year. Over the period under review, consumption, however, recorded a perceptible curtailment. Epoxide resin consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Epoxide Resin Production in the Philippines

In value terms, epoxide resin production totaled $X in 2022 estimated in export price. In general, production, however, recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Epoxide Resin Exports

Exports from the Philippines

In 2022, overseas shipments of epoxide resins decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports continue to indicate a perceptible reduction. The pace of growth was the most pronounced in 2021 when exports increased by X%. As a result, the exports reached the peak of X tons, and then fell significantly in the following year.

In value terms, epoxide resin exports contracted notably to $X in 2022. Overall, exports continue to indicate a perceptible decrease. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then dropped dramatically in the following year.

Exports by Country

Japan (X tons), Indonesia (X tons) and Malaysia (X tons) were the main destinations of epoxide resin exports from the Philippines, with a combined X% share of total exports. Thailand, the United States and China lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for epoxide resin exported from the Philippines were Japan ($X), Malaysia ($X) and Indonesia ($X), together comprising X% of total exports. Thailand, the United States and China lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, the United States, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average epoxide resin export price amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (X%), while the prices for the other major destinations experienced more modest paces of growth.

Epoxide Resin Imports

Imports into the Philippines

In 2022, the amount of epoxide resins imported into the Philippines reduced to X tons, shrinking by X% on 2021. Over the period under review, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, epoxide resin imports expanded modestly to $X in 2022. In general, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2014 when imports increased by X%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Taiwan (Chinese) (X tons), Thailand (X tons) and Singapore (X tons) were the main suppliers of epoxide resin imports to the Philippines, together accounting for X% of total imports. South Korea, China, Japan and Malaysia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest epoxide resin suppliers to the Philippines were Singapore ($X), Taiwan (Chinese) ($X) and Japan ($X), together accounting for X% of total imports. Thailand, South Korea, Malaysia and China lagged somewhat behind, together accounting for a further X%.

China, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average epoxide resin import price amounted to $X per ton, increasing by X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform