Philippines: Amino-Resin Market 2025

Amino-Resin Market Size in the Philippines

The Philippine amino-resin market contracted slightly to $X in 2022, flattening at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption enjoyed a prominent increase. Amino-resin consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Amino-Resin Exports

Exports from the Philippines

In 2022, the amount of amino-resins, phenolic resins and polyurethanes (in primary forms) exported from the Philippines skyrocketed to X tons, with an increase of X% against the previous year's figure. Overall, exports, however, saw a abrupt downturn. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, amino-resin exports surged to $X in 2022. In general, exports, however, continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Japan (X tons) was the main destination for amino-resin exports from the Philippines, with a X% share of total exports. Moreover, amino-resin exports to Japan exceeded the volume sent to the second major destination, Thailand (X tons), sixfold. Singapore (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and Singapore (X% per year).

In value terms, Japan ($X) emerged as the key foreign market for amino-resins, phenolic resins and polyurethanes (in primary forms) exports from the Philippines, comprising X% of total exports. The second position in the ranking was held by Thailand ($X), with a X% share of total exports. It was followed by Singapore, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and Singapore (X% per year).

Export Prices by Country

In 2022, the average amino-resin export price amounted to $X per ton, which is down by X% against the previous year. In general, the export price, however, showed a strong increase. The pace of growth was the most pronounced in 2021 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then dropped remarkably in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Amino-Resin Imports

Imports into the Philippines

In 2022, purchases abroad of amino-resins, phenolic resins and polyurethanes (in primary forms) increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports posted resilient growth. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, amino-resin imports contracted to $X in 2022. Overall, imports showed strong growth. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of amino-resin to the Philippines, accounting for a X% share of total imports. Moreover, amino-resin imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X tons), threefold. The third position in this ranking was held by South Korea (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (X% per year) and South Korea (X% per year).

In value terms, China ($X), Singapore ($X) and Japan ($X) appeared to be the largest amino-resin suppliers to the Philippines, together comprising X% of total imports. Malaysia, South Korea, Thailand, Saudi Arabia, Taiwan (Chinese), India and Indonesia lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Saudi Arabia, with a CAGR of X%, saw the highest growth rate of 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 2022, the average amino-resin import price amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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