Philippines: Ethylene Glycol Market 2025

Ethylene Glycol Market Size in the Philippines

In 2022, the Philippine ethylene glycol market increased by 5.8% to $X for the first time since 2018, thus ending a three-year declining trend. In general, consumption, however, continues to indicate a slight curtailment. Ethylene glycol consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Ethylene Glycol Production in the Philippines

In value terms, ethylene glycol production reduced modestly to $X in 2022 estimated in export price. Overall, production, however, showed a slight slump. The pace of growth appeared the most rapid in 2017 with an increase of 21% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Ethylene Glycol Exports

Exports from the Philippines

In 2022, after four years of growth, there was significant decline in overseas shipments of ethylene glycol (ethanediol), when their volume decreased by -40.8% to X tons. Overall, exports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2019 when exports increased by 269,141%. The exports peaked at X tons in 2021, and then plummeted in the following year.

In value terms, ethylene glycol exports fell dramatically to $X in 2022. Over the period under review, exports, however, recorded a significant increase. The pace of growth was the most pronounced in 2019 with an increase of 135,704%. Over the period under review, the exports reached the peak figure at $X in 2021, and then shrank rapidly in the following year.

Exports by Country

China (X tons) was the main destination for ethylene glycol exports from the Philippines, accounting for a 57% share of total exports. Moreover, ethylene glycol exports to China exceeded the volume sent to the second major destination, Indonesia (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume to China stood at +493.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (0.0% per year) and Taiwan (Chinese) (-78.3% per year).

In value terms, China ($X) remains the key foreign market for ethylene glycol (ethanediol) exports from the Philippines, comprising 57% of total exports. The second position in the ranking was held by Indonesia ($X), with a 25% share of total exports.

From 2012 to 2022, the average annual growth rate of value to China totaled +276.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (0.0% per year) and Taiwan (Chinese) (-79.0% per year).

Export Prices by Country

In 2022, the average ethylene glycol export price amounted to $X per ton, reducing by -30.8% against the previous year. In general, the export price recorded a abrupt setback. The most prominent rate of growth was recorded in 2017 when the average export price increased by 117%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to Indonesia ($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 South Korea (+82.0%), while the prices for the other major destinations experienced a decline.

Ethylene Glycol Imports

Imports into the Philippines

In 2022, the amount of ethylene glycol (ethanediol) imported into the Philippines declined to X tons, which is down by -9.8% compared with 2021 figures. Overall, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 24%. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, ethylene glycol imports fell to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 51%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

China (X tons), Thailand (X tons) and the United States (X tons) were the main suppliers of ethylene glycol imports to the Philippines, together comprising 70% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +91.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest ethylene glycol suppliers to the Philippines were China ($X), Thailand ($X) and the United States ($X), with a combined 67% share of total imports.

China, with a CAGR of +98.6%, 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

The average ethylene glycol import price stood at $X per ton in 2022, reducing by -3.4% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average import price increased by 26%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat 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 the United States ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+7.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :