Philippines: Amine-Function Compounds Market 2024

Amine-Function Compounds Market Size in the Philippines

In 2021, the Philippine amine-function compounds market decreased by -2.8% to $X, falling for the third consecutive year after three years of growth. The market value increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Amine-Function Compounds Production in the Philippines

In value terms, amine-function compounds production fell to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when the production volume increased by 30%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Amine-Function Compounds Exports

Exports from the Philippines

In 2021, shipments abroad of amine-function compounds increased by 9.8% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports posted a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 1,628% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to continue growth in years to come.

In value terms, amine-function compounds exports skyrocketed to $X in 2021. In general, exports recorded a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 1,563% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for amine-function compounds exports from the Philippines, with a 38% share of total exports. Moreover, amine-function compounds exports to the United States exceeded the volume sent to the second major destination, India (X tons), threefold. Japan (X tons) ranked third in terms of total exports with an 8.9% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +95.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+22.9% per year) and Japan (+66.4% per year).

In value terms, the United States ($X) remains the key foreign market for amine-function compounds exports from the Philippines, comprising 32% of total exports. The second position in the ranking was taken by India ($X), with a 13% share of total exports. It was followed by Japan, with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +82.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+22.5% per year) and Japan (+76.2% per year).

Export Prices by Country

In 2021, the average amine-function compounds export price amounted to $X per ton, increasing by 6.6% against the previous year. Over the period under review, the export price, however, recorded a slight decline. The most prominent rate of growth was recorded in 2017 an increase of 15% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Spain ($X per ton) and China ($X per ton), while the average price for exports to the United States ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+5.9%), while the prices for the other major destinations experienced more modest paces of growth.

Amine-Function Compounds Imports

Imports into the Philippines

Amine-function compounds imports into the Philippines soared to X tons in 2021, jumping by 21% against the previous year. Over the period under review, imports enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2016 when imports increased by 226% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in years to come.

In value terms, amine-function compounds imports soared to $X in 2021. Overall, total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +46.2% against 2019 indices. The pace of growth was the most pronounced in 2016 when imports increased by 76%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, South Korea (X tons) constituted the largest amine-function compounds supplier to the Philippines, with a 66% share of total imports. Moreover, amine-function compounds imports from South Korea exceeded the figures recorded by the second-largest supplier, Japan (X tons), eightfold. The third position in this ranking was taken by China (X tons), with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from South Korea totaled +8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+4.7% per year) and China (+11.6% per year).

In value terms, South Korea ($X) constituted the largest supplier of amine-function compounds to the Philippines, comprising 44% of total imports. The second position in the ranking was taken by China ($X), with a 13% share of total imports. It was followed by Japan, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from South Korea totaled +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+13.9% per year) and Japan (-1.9% per year).

Import Prices by Country

The average amine-function compounds import price stood at $X per ton in 2021, rising by 12% against the previous year. Over the period under review, the import price, however, saw a slight slump. The most prominent rate of growth was recorded in 2014 an increase of 84%. Over the period under review, average import prices attained the maximum at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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