Philippines: Market for Iodine, Fluorine And Bromine 2024

Market Size for Iodine, Fluorine And Bromine in the Philippines

In 2021, the Philippine iodine, fluorine and bromine market increased by 66% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption saw a temperate increase. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Exports of Iodine, Fluorine And Bromine

Exports from the Philippines

In 2021, shipments abroad of iodine, fluorine and bromine decreased by 0% to X kg for the first time since 2017, thus ending a three-year declining trend. Overall, exports saw a dramatic downturn. The growth pace was the most rapid in 2017 when exports increased by 120% against the previous year. Over the period under review, the exports attained the maximum at X kg in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, iodine, fluorine and bromine exports dropped notably to $X in 2021. In general, exports continue to indicate a significant decline. The pace of growth appeared the most rapid in 2017 when exports increased by 85% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Palau (X kg) was the main destination for iodine, fluorine and bromine exports from the Philippines, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Palau totaled -9.7%.

In value terms, Palau ($X) also remains the key foreign market for iodine, fluorine and bromine exports from the Philippines.

From 2012 to 2021, the average annual growth rate of value to Palau amounted to -6.2%.

Export Prices by Country

In 2021, the average iodine, fluorine and bromine export price amounted to $X per ton, with a decrease of -15.7% against the previous year. In general, export price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, iodine, fluorine and bromine export price decreased by -29.2% against 2019 indices. The growth pace was the most rapid in 2014 an increase of 46% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Palau.

From 2012 to 2021, the rate of growth in terms of prices for Palau amounted to +3.7% per year.

Imports of Iodine, Fluorine And Bromine

Imports into the Philippines

In 2021, overseas purchases of iodine, fluorine and bromine increased by 51% to X tons, rising for the second consecutive year after two years of decline. Overall, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 517% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, iodine, fluorine and bromine imports skyrocketed to $X in 2021. Over the period under review, imports recorded a prominent increase. The most prominent rate of growth was recorded in 2017 with an increase of 369%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Singapore (X tons) constituted the largest supplier of iodine, fluorine and bromine to the Philippines, with a 52% share of total imports. Moreover, iodine, fluorine and bromine imports from Singapore exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. India (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from Singapore totaled +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+25.1% per year) and India (-3.7% per year).

In value terms, Japan ($X), Singapore ($X) and India ($X) were the largest iodine, fluorine and bromine suppliers to the Philippines, together comprising 77% of total imports.

Among the main suppliers, Japan, with a CAGR of +34.4%, recorded 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 2021, the average iodine, fluorine and bromine import price amounted to $X per ton, with an increase of 20% against the previous year. Over the period under review, import price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 an increase of 31%. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Chile ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+30.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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