Philippines: Sodium Phosphates Market 2024

Sodium Phosphates Market Size in the Philippines

The Philippine sodium phosphates market stood at $X in 2021, picking up by 12% 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, the total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +8.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +6.1% against 2018 indices. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in the near future.

Sodium Phosphates Exports

Exports from the Philippines

Sodium phosphates exports from the Philippines was estimated at X tons in 2021, approximately reflecting 2020 figures. In general, exports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2019 with an increase of 1,439% 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.

In value terms, sodium phosphates exports amounted to $X in 2021. Over the period under review, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 814%. 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

China (X tons) was the main destination for sodium phosphates exports from the Philippines, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to China amounted to +82.8%.

In value terms, China ($X) also remains the key foreign market for phosphates of mono- or di-sodium exports from the Philippines.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to +67.1%.

Export Prices by Country

The average sodium phosphates export price stood at $X per ton in 2021, approximately equating the previous year. In general, the export price, however, showed a abrupt slump. The pace of growth appeared the most rapid in 2016 an increase of 9.1% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2021, 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 China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to -8.6% per year.

Sodium Phosphates Imports

Imports into the Philippines

In 2021, approx. X tons of phosphates of mono- or di-sodium were imported into the Philippines; growing by 9.1% compared with the previous year. Over the period under review, total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +8.6% against 2018 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 33%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, sodium phosphates imports rose significantly to $X in 2021. Overall, imports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2014 with an increase of 27%. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest sodium phosphates supplier to the Philippines, with a 63% share of total imports. Moreover, sodium phosphates imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), threefold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with an 8.3% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+23.5% per year) and Taiwan (Chinese) (-5.5% per year).

In value terms, China ($X) constituted the largest supplier of phosphates of mono- or di-sodium to the Philippines, comprising 57% of total imports. The second position in the ranking was taken by Thailand ($X), with a 26% share of total imports. It was followed by Taiwan (Chinese), with a 4.3% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+24.3% per year) and Taiwan (Chinese) (+0.3% per year).

Import Prices by Country

In 2021, the average sodium phosphates import price amounted to $X per ton, picking up by 2.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.5%. The pace of growth appeared the most rapid in 2015 when the average import price increased by 18% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2018; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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