Philippines: Cyclic Hydrocarbons Market 2025

Cyclic Hydrocarbons Market Size in the Philippines

The Philippine cyclic hydrocarbons market fell to $X in 2022, with a decrease of X% against the previous year. Overall, consumption continues to indicate a perceptible shrinkage. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Cyclic Hydrocarbons Production in the Philippines

In value terms, cyclic hydrocarbons production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, saw a pronounced shrinkage. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Cyclic hydrocarbons production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Cyclic Hydrocarbons Exports

Exports from the Philippines

In 2022, overseas shipments of cyclic hydrocarbons increased by X% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, cyclic hydrocarbons exports skyrocketed to $X in 2022. In general, exports, however, showed a abrupt setback. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for cyclic hydrocarbons exports from the Philippines, accounting for a X% share of total exports. Moreover, cyclic hydrocarbons exports to China exceeded the volume sent to the second major destination, Singapore (X tons), sixfold. The third position in this ranking was taken by Malaysia (X tons), with a X% share.

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

In value terms, China ($X) remains the key foreign market for cyclic hydrocarbons exports from the Philippines, comprising X% of total exports. The second position in the ranking was held by Singapore ($X), with an X% share of total exports. It was followed by Malaysia, with a X% share.

From 2012 to 2022, the average annual growth rate of value to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and Malaysia (X% per year).

Export Prices by Country

In 2022, the average cyclic hydrocarbons export price amounted to $X per ton, surging by X% against the previous year. Overall, the export price, however, saw a noticeable reduction. The pace of growth appeared the most rapid in 2018 an increase of X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Singapore ($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 Thailand (X%), while the prices for the other major destinations experienced mixed trend patterns.

Cyclic Hydrocarbons Imports

Imports into the Philippines

In 2022, cyclic hydrocarbons imports into the Philippines dropped remarkably to X tons, waning by X% against the previous year. Over the period under review, imports recorded a abrupt curtailment. The growth pace was the most rapid in 2016 when imports increased by X%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, cyclic hydrocarbons imports declined to $X in 2022. In general, imports saw a deep reduction. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Saudi Arabia (X tons) constituted the largest supplier of cyclic hydrocarbons to the Philippines, with a X% share of total imports. Moreover, cyclic hydrocarbons imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), threefold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Saudi Arabia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, the largest cyclic hydrocarbons suppliers to the Philippines were Saudi Arabia ($X), Indonesia ($X) and Japan ($X), with a combined X% share of total imports.

Saudi Arabia, with a CAGR of X%, recorded the highest growth rate of 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 2022, the average cyclic hydrocarbons import price amounted to $X per ton, growing by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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