Philippines: Market for Chemical Wood Pulp (Soda And Sulphate, Other Than Dissolving Grades) 2024

Exports of Chemical Wood Pulp (Soda And Sulphate, Other Than Dissolving Grades)

Exports from the Philippines

In 2021, approx. X tons of chemical wood pulp (soda and sulphate, other than dissolving grades) were exported from the Philippines; shrinking by -43.8% against 2020 figures. Over the period under review, exports, however, enjoyed a temperate increase. The growth pace was the most rapid in 2020 with an increase of 165% against the previous year. As a result, the exports attained the peak of X tons, and then fell rapidly in the following year.

In value terms, exports of chemical wood pulp (soda and sulphate, other than dissolving grades) fell remarkably to $X in 2021. In general, total exports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +7.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +68.3% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 103% against the previous year. As a result, the exports attained the peak of $X, and then fell sharply in the following year.

Exports by Country

The United States (X tons) was the main destination for exports of chemical wood pulp (soda and sulphate, other than dissolving grades) from the Philippines, accounting for a 91% share of total exports. It was followed by the UK (X tons), with a 2.7% share of total exports. Turkey (X tons) ranked third in terms of total exports with a 2.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to +3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+50.9% per year) and Turkey (+41.3% per year).

In value terms, the United States ($X) remains the key foreign market for chemical wood pulp (soda and sulphate, other than dissolving grades) exports from the Philippines, comprising 65% of total exports. The second position in the ranking was taken by Turkey ($X), with a 15% share of total exports. It was followed by the UK, with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+46.7% per year) and the UK (+62.6% per year).

Export Prices by Country

The average export price for chemical wood pulp (soda and sulphate, other than dissolving grades) stood at $X per ton in 2021, surging by 48% against the previous year. Over the period under review, export price indicated a measured increase from 2012 to 2021: its price increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Turkey ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+7.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Chemical Wood Pulp (Soda And Sulphate, Other Than Dissolving Grades)

Imports into the Philippines

In 2021, after two years of decline, there was significant growth in overseas purchases of chemical wood pulp (soda and sulphate, other than dissolving grades), when their volume increased by 13% to X tons. Over the period under review, imports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 94%. Over the period under review, imports of hit record highs at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, imports of chemical wood pulp (soda and sulphate, other than dissolving grades) soared to $X in 2021. In general, imports recorded a strong expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 90%. Over the period under review, imports of attained the maximum at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of soda and sulphate chemical wood pulp to the Philippines, with a 69% share of total imports. Moreover, imports of chemical wood pulp (soda and sulphate, other than dissolving grades) from the United States exceeded the figures recorded by the second-largest supplier, New Zealand (X tons), fivefold. The third position in this ranking was taken by South Africa (X tons), with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at +11.2%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (+55.4% per year) and South Africa (-3.5% per year).

In value terms, the United States ($X) constituted the largest supplier of chemical wood pulp (soda and sulphate, other than dissolving grades) to the Philippines, comprising 71% of total imports. The second position in the ranking was taken by New Zealand ($X), with a 14% share of total imports. It was followed by Chile, with a 4.5% share.

From 2012 to 2021, the average annual growth rate of value from the United States totaled +11.8%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (+57.6% per year) and Chile (+13.4% per year).

Import Prices by Country

The average import price for chemical wood pulp (soda and sulphate, other than dissolving grades) stood at $X per ton in 2021, picking up by 28% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from the United States ($X per ton) and New Zealand ($X per ton), while the price for Indonesia ($X per ton) and South Africa ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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