Philippines: Ether Market 2024

Ether Market Size in the Philippines

In 2022, the Philippine ether market increased by 6.1% to $X, rising for the second consecutive year after two years of decline. Overall, consumption, however, posted prominent growth. Ether consumption peaked in 2022 and is likely to continue growth in years to come.

Ether Exports

Exports from the Philippines

In 2022, approx. X tons of ethers were exported from the Philippines; increasing by 8% compared with the previous year's figure. Overall, exports saw prominent growth. The pace of growth was the most pronounced in 2013 when exports increased by 2,045%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, ether exports soared to $X in 2022. In general, exports posted a strong increase. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Japan (X tons) was the main destination for ether exports from the Philippines, accounting for a 63% share of total exports. Moreover, ether exports to Japan exceeded the volume sent to the second major destination, South Korea (X tons), threefold. The third position in this ranking was held by Malaysia (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to Japan stood at +5.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+20.7% per year) and Malaysia (-0.9% per year).

In value terms, Japan ($X) remains the key foreign market for ethers exports from the Philippines, comprising 58% of total exports. The second position in the ranking was taken by South Korea ($X), with a 20% share of total exports. It was followed by Malaysia, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan amounted to +10.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+24.2% per year) and Malaysia (+2.9% per year).

Export Prices by Country

In 2022, the average ether export price amounted to $X per ton, growing by 2,651% against the previous year. Over the period under review, the export price showed moderate growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 ($X per ton), while the average price for exports to China ($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 (+14.3%), while the prices for the other major destinations experienced more modest paces of growth.

Ether Imports

Imports into the Philippines

In 2022, the amount of ethers imported into the Philippines declined to X tons, reducing by -8.2% on the previous year's figure. Overall, imports, however, showed a prominent increase. The pace of growth was the most pronounced in 2016 with an increase of 41%. Over the period under review, imports reached the maximum at X tons in 2021, and then reduced in the following year.

In value terms, ether imports rose notably to $X in 2022. In general, imports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of 68%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Malaysia (X tons), the United States (X tons) and Thailand (X tons) were the main suppliers of ether imports to the Philippines, with a combined 56% share of total imports. China, Taiwan (Chinese), Singapore, Japan, Saudi Arabia and South Korea lagged somewhat behind, together accounting for a further 42%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +25.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest ether suppliers to the Philippines were the United States ($X), Malaysia ($X) and Japan ($X), with a combined 60% share of total imports. China, Thailand, Saudi Arabia, Taiwan (Chinese), Singapore and South Korea lagged somewhat behind, together accounting for a further 36%.

Among the main suppliers, Saudi Arabia, with a CAGR of +35.9%, 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 ether import price amounted to $X per ton, picking up by 20% against the previous year. Over the period under review, import price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ether import price increased by +44.0% against 2018 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by 29% against the previous year. The import price peaked in 2022 and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :