Philippines: Aromatic Monoamines Market 2024

Aromatic Monoamines Market Size in the Philippines

In 2021, the Philippine aromatic monoamines market was finally on the rise to reach $X after two years of decline. Overall, the total consumption indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +11.9% against 2017 indices. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Aromatic Monoamines Production in the Philippines

In value terms, aromatic monoamines production expanded rapidly to $X in 2021 estimated in export price. Overall, the total production indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +17.6% against 2017 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by 76% against the previous year. Over the period under review, production reached the peak level at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Aromatic Monoamines Exports

Exports from the Philippines

In 2021, approx. X tons of other aromatic monoamines and their derivatives, salts thereof were exported from the Philippines; with an increase of 148% on the previous year's figure. Over the period under review, exports enjoyed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, aromatic monoamines exports skyrocketed to $X in 2021. In general, exports enjoyed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

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

From 2020 to 2021, the average annual growth rate of volume to Cambodia totaled +148.1%.

In value terms, Cambodia ($X) also remains the key foreign market for other aromatic monoamines and their derivatives, salts thereof exports from the Philippines.

From 2020 to 2021, the average annual rate of growth in terms of value to Cambodia amounted to +150.0%.

Export Prices by Country

The average aromatic monoamines export price stood at $X per ton in 2021, remaining relatively unchanged against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2020 to 2021, the rate of growth in terms of prices for Cambodia amounted to +0.8% per year.

Aromatic Monoamines Imports

Imports into the Philippines

In 2021, the amount of other aromatic monoamines and their derivatives, salts thereof imported into the Philippines declined rapidly to X tons, falling by -52.3% against the previous year. Overall, imports, however, saw a perceptible increase. The pace of growth appeared the most rapid in 2013 when imports increased by 130%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, aromatic monoamines imports contracted rapidly to $X in 2021. Over the period under review, imports showed a mild contraction. The most prominent rate of growth was recorded in 2013 when imports increased by 96%. Imports peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Taiwan (Chinese) (X tons) constituted the largest supplier of aromatic monoamines to the Philippines, with a 49% share of total imports. Moreover, aromatic monoamines imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. India (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Taiwan (Chinese) totaled +19.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+12.0% per year) and India (-0.9% per year).

In value terms, India ($X) constituted the largest supplier of other aromatic monoamines and their derivatives, salts thereof to the Philippines, comprising 41% of total imports. The second position in the ranking was held by Japan ($X), with a 12% share of total imports. It was followed by China, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from India totaled +9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-2.9% per year) and China (+6.8% per year).

Import Prices by Country

In 2021, the average aromatic monoamines import price amounted to $X per ton, picking up by 43% against the previous year. In general, the import price, however, continues to indicate a perceptible reduction. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+19.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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