Report Update Nov 1, 2024

Philippines - Nitrates of Potassium - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Potassium Nitrate Market 2024

Potassium Nitrate Market Size in the Philippines

After three years of decline, the Philippine potassium nitrate market increased by 759% to $X in 2022. Overall, consumption, however, showed a deep setback. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Potassium Nitrate Exports

Exports from the Philippines

In 2019, after two years of decline, there was decline in overseas shipments of potassium nitrates, when their volume decreased by 0% to X kg. Overall, exports continue to indicate a sharp curtailment. The smallest decline of 99.9% was in 2017. The exports peaked at X tons in 2016; however, from 2017 to 2019, the exports remained at a lower figure.

In value terms, potassium nitrate exports totaled $X in 2019. Over the period under review, exports continue to indicate a dramatic decrease. The smallest decline of 99.9% was in 2017. The exports peaked at $X in 2016; however, from 2017 to 2019, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X kg) was the main destination for potassium nitrate exports from the Philippines, accounting for a approx. 100% share of total exports.

From 2016 to 2019, the average annual rate of growth in terms of volume to Malaysia amounted to -25.3%.

From 2016 to 2019, the average annual rate of growth in terms of value to Malaysia stood at -19.1%.

Export Prices by Country

In 2019, the average potassium nitrate export price amounted to $X per ton, approximately equating the previous year. Overall, the export price continues to indicate a deep contraction. The growth pace was the most rapid in 2017 a decrease of 99.9%. The export price peaked at $X per ton in 2016; however, from 2017 to 2019, 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 Malaysia.

From 2016 to 2019, the rate of growth in terms of prices for Malaysia amounted to +8.2% per year.

Potassium Nitrate Imports

Imports into the Philippines

In 2022, purchases abroad of potassium nitrates was finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, imports, however, recorded a deep slump. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, potassium nitrate imports soared to $X in 2022. Overall, imports, however, faced a abrupt contraction. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) was the main potassium nitrate supplier to the Philippines, accounting for a 92% share of total imports. Moreover, potassium nitrate imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China totaled -8.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-5.8% per year) and Belgium (-59.1% per year).

In value terms, China ($X) constituted the largest supplier of potassium nitrates to the Philippines, comprising 87% of total imports. The second position in the ranking was taken by Thailand ($X), with a 7.2% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to -7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-1.9% per year) and Belgium (-49.3% per year).

Import Prices by Country

The average potassium nitrate import price stood at $X per ton in 2022, jumping by 16% against the previous year. In general, import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, potassium nitrate import price increased by +68.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 40%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+23.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for potassium nitrates in the world?

China remains the largest potassium nitrate consuming country worldwide, comprising approx. 16% of total volume. Moreover, potassium nitrate consumption in China exceeded the figures recorded by the second-largest consumer, the United States, twofold. The third position in this ranking was occupied by Spain, with a 5.5% share.

What are the largest producers of potassium nitrates in the world?

The countries with the highest volumes of in 2021 were China, Chile and India, with a combined 36% share of global production.

What are the leading suppliers of potassium nitrates to the Philippines?

In value terms, Thailand constituted the largest supplier of potassium nitrate to the Philippines, comprising 43% of total imports. The second position in the ranking was occupied by Israel, with a 13% share of total imports. It was followed by Belgium, with a 13% share.

What are the leading importers of potassium nitrates from the Philippines?

In value terms, Malaysia remains the key foreign market for potassium nitrate exports from the Philippines.

What is the average export price for potassium nitrates in the Philippines?

In 2021, the average potassium nitrate export price amounted to $3,557 per ton, approximately reflecting the previous year.

What is the average import price for potassium nitrates in the Philippines?

In 2021, the average potassium nitrate import price amounted to $1,166 per ton, surging by 34% against the previous year.

This report provides an in-depth analysis of the potassium nitrate market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 4025 -

Country coverage:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023