Philippines - Urea - Market Analysis, Forecast, Size, Trends and Insights
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Urea Market Size in the Philippines
The Philippine urea market contracted modestly to $X in 2023, almost unchanged from the previous year. Overall, the total consumption indicated a temperate increase from 2012 to 2023: its value 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. Based on 2023 figures, consumption increased by X% against 2016 indices. As a result, consumption attained the peak level of $X, and then fell slightly in the following year.
Urea Production in the Philippines
In value terms, urea production surged to $X in 2023 estimated in export price. In general, production continues to indicate a noticeable descent. The pace of growth appeared the most rapid in 2021 with an increase of X%. Urea production peaked at $X in 2019; however, from 2020 to 2023, production failed to regain momentum.
Urea Exports
Exports from the Philippines
Urea exports from the Philippines soared to X tons in 2023, with an increase of X% compared with 2022. In general, exports, however, faced a precipitous slump. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.
In value terms, urea exports soared to $X in 2023. Over the period under review, exports, however, faced a dramatic curtailment. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.
Exports by Country
South Korea (X tons) was the main destination for urea exports from the Philippines, accounting for a approx. X% share of total exports.
From 2012 to 2023, the average annual rate of growth in terms of volume to South Korea amounted to X.7%.
In value terms, South Korea ($X) also remains the key foreign market for urea exports from the Philippines.
From 2012 to 2023, the average annual rate of growth in terms of value to South Korea totaled X.6%.
Export Prices by Country
The average urea export price stood at $X per ton in 2023, jumping by X% against the previous year. Overall, the export price saw strong growth. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2023, the export prices stood at a somewhat lower figure.
As there is only one major export destination, the average price level is determined by prices for South Korea.
From 2012 to 2023, the rate of growth in terms of prices for Thailand amounted to X% per year.
Urea Imports
Imports into the Philippines
In 2023, purchases abroad of urea was finally on the rise to reach X tons after two years of decline. In general, total imports indicated a temperate increase 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. Over the period under review, imports reached the maximum at X tons in 2020; however, from 2021 to 2023, imports failed to regain momentum.
In value terms, urea imports dropped to $X in 2023. Over the period under review, imports showed measured growth. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then reduced in the following year.
Imports by Country
Malaysia (X tons), Indonesia (X tons) and China (X tons) were the main suppliers of urea imports to the Philippines, with a combined X% share of total imports. Qatar, Brunei Darussalam, Saudi Arabia, Vietnam and Egypt lagged somewhat behind, together comprising a further X%.
From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brunei Darussalam (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.
In value terms, the largest urea suppliers to the Philippines were Malaysia ($X), Indonesia ($X) and China ($X), with a combined X% share of total imports. Qatar, Brunei Darussalam, Saudi Arabia, Vietnam and Egypt lagged somewhat behind, together comprising a further X%.
Among the main suppliers, Brunei Darussalam, with a CAGR of X%, recorded 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 urea import price stood at $X per ton in 2023, reducing by X% against the previous year. Overall, the import price, however, 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 attained the peak figure at $X per ton in 2022, and then contracted sharply in the following year.
Average prices varied somewhat amongst the major supplying countries. In 2023, amid the top importers, the highest price was recorded for prices from Vietnam ($X per ton) and Qatar ($X per ton), while the price for Egypt ($X per ton) and Malaysia ($X per ton) were amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Saudi Arabia (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 urea market 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:
- FCL 4001 - Urea
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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