Philippines: Oxygen-Function Amino-Compound Market 2024

Oxygen-Function Amino-Compound Market Size in the Philippines

After two years of decline, the Philippine oxygen-function amino-compound market increased by 15% to $X in 2021. In general, consumption saw a resilient increase. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Oxygen-Function Amino-Compound Exports

Exports from the Philippines

In 2021, the amount of oxygen-function amino-compounds exported from the Philippines soared to X tons, picking up by 25% compared with 2020. Overall, exports posted significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 1,685% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, oxygen-function amino-compound exports soared to $X in 2021. Over the period under review, exports continue to indicate significant growth. The growth pace was the most rapid in 2016 with an increase of 1,185% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in the near future.

Exports by Country

Japan (X tons) was the main destination for oxygen-function amino-compound exports from the Philippines, accounting for a 90% share of total exports. Moreover, oxygen-function amino-compound exports to Japan exceeded the volume sent to the second major destination, Thailand (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Japan totaled +27.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+97.2% per year) and Papua New Guinea (+93.8% per year).

In value terms, Japan ($X) remains the key foreign market for oxygen-function amino-compounds exports from the Philippines, comprising 81% of total exports. The second position in the ranking was taken by Papua New Guinea ($X), with a 14% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Japan totaled +30.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Papua New Guinea (+107.8% per year) and Thailand (+91.3% per year).

Export Prices by Country

In 2021, the average oxygen-function amino-compound export price amounted to $X per ton, jumping by 50% against the previous year. Overall, the export price, however, saw a perceptible setback. The pace of growth appeared the most rapid in 2013 an increase of 55% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Papua New Guinea ($X per ton), while the average price for exports to Thailand ($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 Papua New Guinea (+7.2%), while the prices for the other major destinations experienced mixed trend patterns.

Oxygen-Function Amino-Compound Imports

Imports into the Philippines

In 2021, imports of oxygen-function amino-compounds into the Philippines expanded slightly to X tons, surging by 2.2% compared with the previous year's figure. Over the period under review, imports showed a remarkable increase. The growth pace was the most rapid in 2015 with an increase of 40% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, oxygen-function amino-compound imports surged to $X in 2021. Overall, imports continue to indicate resilient growth. The growth pace was the most rapid in 2017 when imports increased by 52% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of oxygen-function amino-compound to the Philippines, accounting for a 79% share of total imports. Moreover, oxygen-function amino-compound imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), more than tenfold. The third position in this ranking was taken by Malaysia (X tons), with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +24.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+5.6% per year) and Malaysia (-10.2% per year).

In value terms, China ($X) constituted the largest supplier of oxygen-function amino-compounds to the Philippines, comprising 67% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 4.3% share of total imports. It was followed by the United States, with a 3.7% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +22.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+11.9% per year) and the United States (-4.9% per year).

Import Prices by Country

The average oxygen-function amino-compound import price stood at $X per ton in 2021, jumping by 20% against the previous year. Overall, the import price, however, showed a perceptible contraction. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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 Taiwan (Chinese) ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+27.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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