Report Update Nov 1, 2024

Philippines - Nitrites - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Nitrites Market 2024

Nitrites Market Size in the Philippines

The Philippine nitrites market expanded remarkably to $X in 2021, with an increase of 7.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a buoyant increase. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Nitrites Exports

Exports from the Philippines

In 2021, the amount of nitrites exported from the Philippines totaled X tons, approximately mirroring the previous year's figure. Overall, exports enjoyed significant growth. The smallest decline of 99.9% was in 2015. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, nitrites exports totaled $X in 2021. Over the period under review, exports continue to indicate a significant expansion. The smallest decline of 99.9% was in 2015. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

Thailand (X tons) was the main destination for nitrites exports from the Philippines, with a approx. 100% share of total exports.

From 2014 to 2021, the average annual rate of growth in terms of volume to Thailand was relatively modest.

From 2014 to 2021, the average annual rate of growth in terms of value to Thailand was relatively modest.

Export Prices by Country

The average nitrites export price stood at $X per ton in 2021, approximately reflecting the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average export price decreased by 99.9%. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in the immediate term.

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

From 2014 to 2021, the rate of growth in terms of prices for Thailand amounted to 0.0% per year.

Nitrites Imports

Imports into the Philippines

For the third year in a row, the Philippines recorded growth in supplies from abroad of nitrites, which increased by 6% to X tons in 2021. In general, imports enjoyed a resilient expansion. The pace of growth was the most pronounced in 2015 when imports increased by 191% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, nitrites imports soared to $X in 2021. Over the period under review, imports enjoyed prominent growth. The pace of growth was the most pronounced in 2015 when imports increased by 229% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest nitrites supplier to the Philippines, with a 75% share of total imports. Moreover, nitrites imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), sixfold. Singapore (X tons) ranked third in terms of total imports with a 6.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +14.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+13.3% per year) and Singapore (+13.2% per year).

In value terms, China ($X) constituted the largest supplier of nitrites to the Philippines, comprising 70% of total imports. The second position in the ranking was taken by Germany ($X), with a 14% share of total imports. It was followed by Singapore, with an 8.6% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +15.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+6.1% per year) and Singapore (+6.4% per year).

Import Prices by Country

The average nitrites import price stood at $X per ton in 2021, increasing by 11% against the previous year. Overall, the import price, however, continues to indicate a slight decline. The most prominent rate of growth was recorded in 2019 an increase of 33%. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices failed to regain momentum.

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 Singapore ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+2.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for nitrites in the world?

The countries with the highest volumes of nitrites consumption in 2021 were Zambia, Canada and South Korea, with a combined 30% share of global consumption. Japan, Nigeria, the Netherlands, Taiwan Chinese), Chile, Brazil, France, China, Thailand and Ukraine lagged somewhat behind, together comprising a further 40%.

What are the largest producers of nitrites in the world?

The country with the largest volume of nitrites production was China, accounting for 62% of total volume. Moreover, nitrites production in China exceeded the figures recorded by the second-largest producer, Germany, threefold. Russia ranked third in terms of total production with a 6.3% share.

What are the leading suppliers of nitrites to the Philippines?

In value terms, China constituted the largest supplier of nitrites to the Philippines, comprising 79% of total imports. The second position in the ranking was occupied by Germany, with a 16% share of total imports.

What is the average export price for nitrites in the Philippines?

In 2021, the average nitrites export price amounted to $704 per ton, standing approx. at the previous year.

What is the average import price for nitrites in the Philippines?

In 2021, the average nitrites import price amounted to $877 per ton, growing by 11% against the previous year.

This report provides an in-depth analysis of the nitrites 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:

Prodcom 20152080 - Nitrites

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