Philippines - Formic Acid, Its Salts and Esters - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPhilippines: Market for Formic Acid, Its Salts And Esters 2024
Market Size for Formic Acid, Its Salts And Esters in the Philippines
The Philippine market for formic acid, its salts and esters shrank remarkably to $X in 2023, with a decrease of X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, posted a tangible expansion. As a result, consumption reached the peak level of $X, and then reduced sharply in the following year.
Exports of Formic Acid, Its Salts And Esters
Exports from the Philippines
In 2019, overseas shipments of formic acid, its salts and esters increased by X% to X tons for the first time since 2016, thus ending a two-year declining trend. Overall, exports saw significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of formic acid, its salts and esters surged to $X in 2019. Over the period under review, exports recorded a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
Exports by Country
Qatar (X tons) was the main destination for exports of formic acid, its salts and esters from the Philippines, with a X% share of total exports. Moreover, exports of formic acid, its salts and esters to Qatar exceeded the volume sent to the second major destination, Saudi Arabia (X tons), eightfold.
From 2012 to 2019, the average annual rate of growth in terms of volume to Qatar was relatively modest.
In value terms, Qatar ($X) emerged as the key foreign market for formic acid, its salts and esters exports from the Philippines, comprising X% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with an X% share of total exports.
From 2012 to 2019, the average annual rate of growth in terms of value to Qatar was relatively modest.
Export Prices by Country
The average export price for formic acid, its salts and esters stood at $X per ton in 2019, rising by X% against the previous year. Over the period under review, the export price continues to indicate a notable increase. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2019, the average export prices failed to regain momentum.
Average prices varied somewhat for the major overseas markets. In 2019, amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Saudi Arabia stood at $X per ton.
From 2012 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (X%).
Imports of Formic Acid, Its Salts And Esters
Imports into the Philippines
In 2023, approx. X tons of formic acid, its salts and esters were imported into the Philippines; reducing by X% against the previous year. Over the period under review, total imports indicated modest growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Over the period under review, imports of attained the maximum at X tons in 2022, and then fell significantly in the following year.
In value terms, imports of formic acid, its salts and esters contracted rapidly to $X in 2023. Overall, imports, however, showed a noticeable expansion. The growth pace was the most rapid in 2022 when imports increased by X%. As a result, imports attained the peak of $X, and then shrank dramatically in the following year.
Imports by Country
China (X tons), Sweden (X tons) and Norway (X tons) were the main suppliers of imports of formic acid, its salts and esters to the Philippines, together comprising X% of total imports.
From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Sweden (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.
In value terms, Sweden ($X), China ($X) and Norway ($X) constituted the largest formic acid, its salts and esters suppliers to the Philippines, with a combined X% share of total imports.
Among the main suppliers, Sweden, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
In 2023, the average import price for formic acid, its salts and esters amounted to $X per ton, with a decrease of X% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2022, and then plummeted in the following year.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the market for formic acid, its salts and esters in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 20143250 - Formic acid, its salts and esters
Country coverage:
- Philippines
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the Philippines
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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