Philippines: Market for Polyethylene in Primary Forms 2024

Market Size for Polyethylene in Primary Forms in the Philippines

In 2022, the Philippine polyethylene in primary forms market increased by X% to $X, rising for the second year in a row after two years of decline. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Production of Polyethylene in Primary Forms in the Philippines

In value terms, polyethylene in primary forms production dropped modestly to $X in 2022 estimated in export price. In general, production continues to indicate a noticeable downturn. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Exports of Polyethylene in Primary Forms

Exports from the Philippines

In 2022, shipments abroad of polyethylene in primary forms decreased by X% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports continue to indicate a perceptible downturn. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, polyethylene in primary forms exports declined rapidly to $X in 2022. Overall, exports continue to indicate a abrupt descent. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for polyethylene in primary forms exports from the Philippines, with a X% share of total exports. Moreover, polyethylene in primary forms exports to China exceeded the volume sent to the second major destination, Japan (X tons), threefold. The third position in this ranking was held by Belgium (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and Belgium (X% per year).

In value terms, China ($X) remains the key foreign market for polyethylene in primary forms exports from the Philippines, comprising X% of total exports. The second position in the ranking was taken by Belgium ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (X% per year) and Japan (X% per year).

Export Prices by Country

In 2022, the average polyethylene in primary forms export price amounted to $X per ton, rising by X% against the previous year. Over the period under review, the export price, however, continues to indicate a slight reduction. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Vietnam ($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 Belgium (X%), while the prices for the other major destinations experienced a decline.

Imports of Polyethylene in Primary Forms

Imports into the Philippines

In 2022, overseas purchases of polyethylene in primary forms were finally on the rise to reach X tons after two years of decline. In general, total imports indicated a prominent expansion 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 decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of X%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, polyethylene in primary forms imports rose remarkably to $X in 2022. Over the period under review, total imports indicated resilient growth 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 growth pace was the most rapid 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

Malaysia (X tons), Thailand (X tons) and Saudi Arabia (X tons) were the main suppliers of polyethylene in primary forms imports to the Philippines, with a combined X% share of total imports.

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

In value terms, the largest polyethylene in primary forms suppliers to the Philippines were Malaysia ($X), Thailand ($X) and Singapore ($X), with a combined X% share of total imports.

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

Import Prices by Country

The average polyethylene in primary forms import price stood at $X per ton in 2022, growing by X% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from South Korea ($X per ton) and Qatar ($X per ton), while the price for Saudi Arabia ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform