Philippines: Market for Acid And Mordant Dyes And Preparations Based Thereon 2024

Market Size for Acid And Mordant Dyes And Preparations Based Thereon in the Philippines

In 2021, the Philippine acid and mordant dye market increased by 93% to $X, rising for the second year in a row after two years of decline. In general, consumption recorded a strong increase. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Exports of Acid And Mordant Dyes And Preparations Based Thereon

Exports from the Philippines

In 2021, overseas shipments of acid and mordant dyes and preparations based thereon decreased by -0.3% to X tons, falling for the second consecutive year after four years of growth. In general, exports, however, recorded a significant expansion. The pace of growth was the most pronounced in 2018 with an increase of 10,823%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, acid and mordant dye exports declined remarkably to $X in 2021. Overall, exports, however, showed significant growth. The growth pace was the most rapid in 2018 with an increase of 6,820%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Singapore (X tons) was the main destination for acid and mordant dye exports from the Philippines, with a 76% share of total exports. Moreover, acid and mordant dye exports to Singapore exceeded the volume sent to the second major destination, Indonesia (X tons), fourfold. Sri Lanka (X tons) ranked third in terms of total exports with a 2.5% share.

From 2014 to 2021, the average annual rate of growth in terms of volume to Singapore amounted to +2.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-28.1% per year) and Sri Lanka (+61.3% per year).

In value terms, Singapore ($X), Indonesia ($X) and Sri Lanka ($X) were the largest markets for acid and mordant dye exported from the Philippines worldwide, together comprising 88% of total exports.

Sri Lanka, with a CAGR of +53.3%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average acid and mordant dye export price amounted to $X per ton, dropping by -25.2% against the previous year. Overall, the export price recorded a sharp contraction. The most prominent rate of growth was recorded in 2017 an increase of 33%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, among the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while the average price for exports to Singapore ($X per ton) was amongst the lowest.

From 2014 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+7.7%), while the prices for the other major destinations experienced a decline.

Imports of Acid And Mordant Dyes And Preparations Based Thereon

Imports into the Philippines

After three years of decline, supplies from abroad of acid and mordant dyes and preparations based thereon increased by 69% to X tons in 2021. Overall, imports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 87% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, acid and mordant dye imports surged to $X in 2021. Over the period under review, imports saw prominent growth. The most prominent rate of growth was recorded in 2015 when imports increased by 135% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

India (X tons), the United States (X tons) and Singapore (X tons) were the main suppliers of acid and mordant dye imports to the Philippines, together accounting for 82% of total imports.

From 2012 to 2021, the biggest increases were recorded for Singapore (with a CAGR of +69.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), India ($X) and Singapore ($X) constituted the largest acid and mordant dye suppliers to the Philippines, with a combined 67% share of total imports. These countries were followed by Japan, South Korea, Taiwan (Chinese), Thailand and China, which together accounted for a further 14%.

South Korea, with a CAGR of +75.2%, recorded 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 2021, the average acid and mordant dye import price amounted to $X per ton, reducing by -8.2% against the previous year. Over the period under review, the import price, however, continues to indicate a strong expansion. The pace of growth appeared the most rapid in 2018 an increase of 34%. Over the period under review, average import prices hit record highs at $X per ton in 2020, and then shrank in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+17.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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