
Philippines - Processed Petroleum Oils and Distillates - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPhilippines: Market for Processed Petroleum Oils and Distillates 2025
Market Size for Processed Petroleum Oils and Distillates in the Philippines
In 2022, the Philippine market for processed petroleum oils and distillates increased by 42% to $X, rising for the second consecutive year after two years of decline. In general, consumption saw a resilient expansion. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the near future.
Production of Processed Petroleum Oils and Distillates in the Philippines
In value terms, processed petroleum oils and distillates production fell notably to $X in 2022 estimated in export price. Over the period under review, production recorded a deep slump. The growth pace was the most rapid in 2021 when the production volume increased by 43%. Processed petroleum oils and distillates production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.
Exports of Processed Petroleum Oils and Distillates
Exports from the Philippines
Processed petroleum oils and distillates exports from the Philippines expanded rapidly to X tons in 2022, with an increase of 5.5% compared with the previous year's figure. Over the period under review, exports, however, recorded a dramatic setback. The growth pace was the most rapid in 2013 when exports increased by 83%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.
In value terms, processed petroleum oils and distillates exports soared to $X in 2022. In general, exports, however, faced a sharp slump. The most prominent rate of growth was recorded in 2017 with an increase of 101% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.
Exports by Country
Malaysia (X tons) was the main destination for processed petroleum oils and distillates exports from the Philippines, accounting for a 86% share of total exports. Moreover, processed petroleum oils and distillates exports to Malaysia exceeded the volume sent to the second major destination, Vietnam (X tons), more than tenfold. The third position in this ranking was held by Singapore (X tons), with a 3% share.
From 2012 to 2022, the average annual growth rate of volume to Malaysia stood at -27.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (-4.6% per year) and Singapore (-52.0% per year).
In value terms, Malaysia ($X) remains the key foreign market for processed petroleum oils and distillates exports from the Philippines, comprising 86% of total exports. The second position in the ranking was taken by Vietnam ($X), with an 8.9% share of total exports. It was followed by Myanmar, with a 1.6% share.
From 2012 to 2022, the average annual rate of growth in terms of value to Malaysia totaled -22.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+0.4% per year) and Myanmar (+14.9% per year).
Export Prices by Country
In 2022, the average export price for processed petroleum oils and distillates amounted to $X per ton, surging by 15% against the previous year. Overall, the export price saw a remarkable increase. The most prominent rate of growth was recorded in 2021 an increase of 337%. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in years to come.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Singapore ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+14.4%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Processed Petroleum Oils and Distillates
Imports into the Philippines
In 2022, supplies from abroad of processed petroleum oils and distillates increased by 54% to X tons, rising for the third consecutive year after two years of decline. Overall, imports enjoyed a prominent increase. The growth pace was the most rapid in 2021 when imports increased by 105%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.
In value terms, processed petroleum oils and distillates imports soared to $X in 2022. In general, imports posted a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 105% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.
Imports by Country
China (X tons), Singapore (X tons) and Japan (X tons) were the main suppliers of processed petroleum oils and distillates imports to the Philippines, with a combined 95% share of total imports. Brunei Darussalam lagged somewhat behind, comprising a further 3.2%.
From 2012 to 2022, the biggest increases were recorded for Brunei Darussalam (with a CAGR of +634.3%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, China ($X), Singapore ($X) and Japan ($X) constituted the largest processed petroleum oils and distillates suppliers to the Philippines, together accounting for 95% of total imports. These countries were followed by Brunei Darussalam, which accounted for a further 3.5%.
Among the main suppliers, Brunei Darussalam, with a CAGR of +434.4%, 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
The average import price for processed petroleum oils and distillates stood at $X per ton in 2022, remaining relatively unchanged against the previous year. In general, the import price, however, saw a abrupt setback. The growth pace was the most rapid in 2017 an increase of 33% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Brunei Darussalam ($X per ton) and Japan ($X per ton), while the price for Singapore ($X per ton) and China ($X per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (-8.9%), while the prices for the other major suppliers experienced a decline.
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Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the market for processed petroleum oils and distillates 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:
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
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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
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND THE AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDSThis Chapter is Available Only for the Professional EditionPRO
3. MARKET OVERVIEW
Understanding the Current State of The Market and its Prospects
- MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- MARKET FORECAST TO 2035
4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION
Finding New Products to Diversify Your Business
- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCTS
- MOST TRADED PRODUCTS
- MOST PROFITABLE PRODUCTS FOR EXPORTS
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Export
- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
- IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
- EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country, 2012–2024
LIST OF FIGURES
- Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Structure – Domestic Supply vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Structure – Domestic Supply vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Trade Balance, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Trade Balance, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Volume Forecast to 2035
- Market Value Forecast to 2035
- Market Size and Growth, By Product
- Average Per Capita Consumption, By Product
- Exports and Growth, By Product
- Export Prices and Growth, By Product
- Production Volume and Growth
- Exports and Growth
- Export Prices and Growth
- Market Size and Growth
- Per Capita Consumption
- Imports and Growth
- Import Prices
- Production, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Production, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country, 2012–2024
- Exports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country, 2012–2024
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