Philippines: Alcohols Market 2021

Alcohols Market Size in the Philippines

The Philippine alcohols market contracted modestly to $X in 2020, approximately equating the previous year. The market value increased at an average annual rate of +X% from 2007 to 2020; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2008 with an increase of X% against the previous year. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2020, consumption failed to regain the momentum.

Alcohols Production in the Philippines

In value terms, alcohols production expanded rapidly to $X in 2020 estimated in export prices. The total output value increased at an average annual rate of +X% over the period from 2007 to 2020; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2008 with an increase of X% year-to-year. Over the period under review, production reached the peak level at $X in 2011; however, from 2012 to 2020, production stood at a somewhat lower figure.

Alcohols Exports

Exports from the Philippines

In 2020, overseas shipments of alcohols and their halogenated, sulphonated, nitrated or nitrosated derivatives increased by X% to X tons, rising for the second year in a row after three years of decline. In general, total exports indicated moderate growth from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, exports increased by +X% against 2018 indices. The growth pace was the most rapid in 2019 with an increase of X% year-to-year. Exports peaked in 2020 and are likely to see steady growth in the immediate term.

In value terms, alcohols exports expanded to $X in 2020. Over the period under review, total exports indicated a moderate expansion from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, exports increased by +X% against 2018 indices. The pace of growth appeared the most rapid in 2010 when exports increased by X% y-o-y. Over the period under review, exports hit record highs at $X in 2015; however, from 2016 to 2020, exports remained at a lower figure.

Exports by Country

Japan (X tons), the Netherlands (X tons) and China (X tons) were the main destinations of alcohols exports from the Philippines, together comprising X% of total exports. Germany, Taiwan (Chinese), South Korea and Spain lagged somewhat behind, together comprising a further X 2007 to 2020, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany, while exports for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for alcohols exported from the Philippines were Japan ($X), China ($X) and the Netherlands ($X), with a combined X% share of total exports. These countries were followed by Germany, Spain, Taiwan (Chinese) and South Korea, which together accounted for a further X the main countries of destination, Germany saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2020, the average alcohols export price amounted to $X per ton, almost unchanged from the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 when the average export price increased by X% year-to-year. As a result, export price attained the peak level of $X per ton. from 2012 to 2020, the growth in terms of the average export prices failed to regain the momentum.

There were significant differences in the average prices for the major export markets. In 2020, the country with the highest price was Spain ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to China, while the prices for the other major destinations experienced more modest paces of growth.

Alcohols Imports

Imports into the Philippines

After two years of growth, overseas purchases of alcohols and their halogenated, sulphonated, nitrated or nitrosated derivatives decreased by -X% to X tons in 2020. Overall, imports, however, enjoyed a tangible increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. from 2017 to 2020, the growth imports remained at a lower figure.

In value terms, alcohols imports shrank remarkably to $X in 2020. Over the period under review, imports, however, recorded a pronounced increase. The pace of growth appeared the most rapid in 2010 when imports increased by X% year-to-year. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2020, imports stood at a somewhat lower figure.

Imports by Country

Malaysia (X tons), Indonesia (X tons) and Brunei Darussalam (X tons) were the main suppliers of alcohols imports to the Philippines, with a combined X% share of total imports.

From 2007 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brunei Darussalam, while imports for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), China ($X) and Japan ($X) appeared to be the largest alcohols suppliers to the Philippines, together accounting for X% of total imports.

In terms of the main suppliers, Japan 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

In 2020, the average alcohols import price amounted to $X per ton, falling by -X% against the previous year. Overall, the import price recorded a slight decline. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% y-o-y. As a result, import price reached the peak level of $X per ton. from 2014 to 2020, the growth in terms of the average import prices remained at a somewhat lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was China ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Japan, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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