Philippines: Natural Polymers Market 2024

Natural Polymers Market Size in the Philippines

In 2021, after two years of decline, there was growth in the Philippine natural polymers market, when its value increased by 3.4% to $X. The market value increased at an average annual rate of +2.5% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Natural Polymers Production in the Philippines

In value terms, natural polymers production fell modestly to $X in 2021 estimated in export price. In general, the total production indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -23.4% against 2018 indices. The growth pace was the most rapid in 2018 with an increase of 72%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Natural Polymers Exports

Exports from the Philippines

In 2021, the amount of natural and modified natural polymers in primary forms exported from the Philippines soared to X tons, rising by 18% against the previous year. In general, exports showed resilient growth. The pace of growth appeared the most rapid in 2017 when exports increased by 251% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to continue growth in the near future.

In value terms, natural polymers exports rose rapidly to $X in 2021. Overall, exports enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2017 with an increase of 190% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

France (X tons), Argentina (X tons) and Singapore (X tons) were the main destinations of natural polymers exports from the Philippines, with a combined 64% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of +187.2%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X) emerged as the key foreign market for natural and modified natural polymers in primary forms exports from the Philippines, comprising 41% of total exports. The second position in the ranking was taken by Singapore ($X), with an 8.8% share of total exports. It was followed by Argentina, with a 6.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to France amounted to +222.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+29.5% per year) and Argentina (+10.1% per year).

Export Prices by Country

The average natural polymers export price stood at $X per ton in 2021, reducing by -3% against the previous year. Over the last nine years, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2018 an increase of 36% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2020, and then contracted in the following year.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+15.7%), while the prices for the other major destinations experienced more modest paces of growth.

Natural Polymers Imports

Imports into the Philippines

In 2021, the amount of natural and modified natural polymers in primary forms imported into the Philippines soared to X tons, jumping by 24% compared with the previous year's figure. Over the period under review, total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +7.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -1.4% against 2019 indices. The pace of growth appeared the most rapid in 2019 with an increase of 51%. As a result, imports reached the peak of X tons; afterwards, it flattened through to 2021.

In value terms, natural polymers imports surged to $X in 2021. In general, total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +49.7% against 2017 indices. The growth pace was the most rapid in 2013 when imports increased by 42% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest natural polymers supplier to the Philippines, accounting for a 37% share of total imports. Moreover, natural polymers imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. The third position in this ranking was taken by Canada (X tons), with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +11.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+4.1% per year) and Canada (+4.7% per year).

In value terms, Japan ($X), Taiwan (Chinese) ($X) and China ($X) constituted the largest natural polymers suppliers to the Philippines, together accounting for 69% of total imports.

Taiwan (Chinese), with a CAGR of +196.3%, 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 natural polymers import price stood at $X per ton in 2021, approximately mirroring the previous year. Over the period under review, the import price recorded a mild descent. The most prominent rate of growth was recorded in 2018 when the average import price increased by 28% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+27.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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