Philippines: Halogenated Hydrocarbon Derivative Market 2024

Halogenated Hydrocarbon Derivative Market Size in the Philippines

After three years of growth, the Philippine halogenated hydrocarbon derivative market decreased by -27.3% to $X in 2022. Overall, consumption, however, enjoyed a resilient expansion. As a result, consumption attained the peak level of $X, and then shrank remarkably in the following year.

Halogenated Hydrocarbon Derivative Exports

Exports from the Philippines

In 2022, shipments abroad of halogenated derivatives of hydrocarbons decreased by -69.8% to X tons, falling for the third year in a row after three years of growth. Over the period under review, exports recorded a abrupt contraction. The growth pace was the most rapid in 2014 with an increase of 262% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, halogenated hydrocarbon derivative exports declined rapidly to $X in 2022. In general, exports, however, saw a modest increase. The pace of growth appeared the most rapid in 2014 with an increase of 379% against the previous year. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Thailand (X tons) was the main destination for halogenated hydrocarbon derivative exports from the Philippines, accounting for a 85% share of total exports. Moreover, halogenated hydrocarbon derivative exports to Thailand exceeded the volume sent to the second major destination, Guam (X kg), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Thailand totaled +10.5%.

In value terms, Guam ($X) and Thailand ($X) appeared to be the largest markets for halogenated hydrocarbon derivative exported from the Philippines worldwide.

Thailand, with a CAGR of +28.9%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

In 2022, the average halogenated hydrocarbon derivative export price amounted to $X per ton, with an increase of 39% against the previous year. In general, the export price enjoyed a buoyant increase. The pace of growth was the most pronounced in 2020 when the average export price increased by 60%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Guam ($X per ton), while the average price for exports to Thailand totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Oman (+27.0%), while the prices for the other major destinations experienced more modest paces of growth.

Halogenated Hydrocarbon Derivative Imports

Imports into the Philippines

In 2022, after three years of growth, there was significant decline in purchases abroad of halogenated derivatives of hydrocarbons, when their volume decreased by -23.9% to X tons. Over the period under review, imports, however, saw a remarkable increase. The pace of growth was the most pronounced in 2016 when imports increased by 55% against the previous year. Imports peaked at X tons in 2021, and then fell significantly in the following year.

In value terms, halogenated hydrocarbon derivative imports declined notably to $X in 2022. In general, imports, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2021 when imports increased by 114%. As a result, imports reached the peak of $X, and then contracted dramatically in the following year.

Imports by Country

In 2022, Japan (X tons) constituted the largest halogenated hydrocarbon derivative supplier to the Philippines, accounting for a 88% share of total imports. Moreover, halogenated hydrocarbon derivative imports from Japan exceeded the figures recorded by the second-largest supplier, South Korea (X tons), more than tenfold. The third position in this ranking was held by China (X tons), with a 4% share.

From 2012 to 2022, the average annual growth rate of volume from Japan totaled +13.2%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-6.8% per year) and China (+3.5% per year).

In value terms, Japan ($X) constituted the largest supplier of halogenated derivatives of hydrocarbons to the Philippines, comprising 86% of total imports. The second position in the ranking was taken by China ($X), with a 6.9% share of total imports. It was followed by South Korea, with a 3.4% share.

From 2012 to 2022, the average annual growth rate of value from Japan stood at +29.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+7.2% per year) and South Korea (-6.1% per year).

Import Prices by Country

In 2022, the average halogenated hydrocarbon derivative import price amounted to $X per ton, with a decrease of -6.2% against the previous year. Overall, the import price, however, recorded buoyant growth. The pace of growth was the most pronounced in 2014 when the average import price increased by 71%. Over the period under review, average import prices attained the maximum at $X per ton in 2021, and then contracted in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+14.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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