Philippines: Other Chemical Products Market 2024

Other Chemical Products Market Size in the Philippines

The Philippine other chemical products market was estimated at less than $X in 2022, approximately reflecting the previous year. Over the period under review, consumption, however, saw a noticeable decrease. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Other Chemical Products Production in the Philippines

In value terms, other chemical products production amounted to less than $X in 2022 estimated in export price. Overall, production enjoyed a resilient increase. The growth pace was the most rapid in 2016 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Other Chemical Products Exports

Exports from the Philippines

In 2018, overseas shipments of other chemical products increased by X% to X tons, rising for the second consecutive year after two years of decline. Overall, exports saw a resilient expansion. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2018, the growth of the exports remained at a lower figure.

In value terms, other chemical products exports surged to $X in 2018. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by X%. As a result, the exports reached the peak of $X. From 2015 to 2018, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for other chemical products exports from the Philippines, with a X% share of total exports. Moreover, other chemical products exports to China exceeded the volume sent to the second major destination, the United States (X tons), more than tenfold. Japan (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2018, the average annual rate of growth in terms of volume to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Japan (X% per year).

In value terms, the largest markets for other chemical products exported from the Philippines were China ($X), Japan ($X) and Malaysia ($X), together comprising X% of total exports. The United States, Vietnam, South Korea, Indonesia, the Netherlands, Spain and the UK lagged somewhat behind, together comprising a further X%.

The United States, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the average other chemical products export price amounted to $X per ton, waning by X% against the previous year. In general, the export price showed a abrupt contraction. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2018, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2018, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Japan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Other Chemical Products Imports

Imports into the Philippines

In 2018, approx. X tons of other chemical products were imported into the Philippines; growing by X% on the previous year. Over the period under review, imports enjoyed significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, other chemical products imports expanded modestly to $X in 2018. Overall, imports recorded resilient growth. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Over the period under review, imports reached the peak figure in 2018 and are likely to continue growth in the near future.

Imports by Country

In 2018, China (X tons) constituted the largest other chemical products supplier to the Philippines, with a X% share of total imports. Moreover, other chemical products imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), threefold. The third position in this ranking was taken by Indonesia (X tons), with a X% share.

From 2012 to 2018, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and Indonesia (X% per year).

In value terms, the largest other chemical products suppliers to the Philippines were China ($X), Malaysia ($X) and the United States ($X), with a combined X% share of total imports. Japan, Indonesia, Singapore, Germany, France, South Korea, Thailand, Taiwan (Chinese) and Vietnam lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to 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

The average other chemical products import price stood at $X per ton in 2018, with a decrease of X% against the previous year. Overall, the import price showed a abrupt curtailment. The most prominent rate of growth was recorded in 2014 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2018, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2018, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2018, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :