Philippines: Metal Pickling Preparations Market 2024

Metal Pickling Preparations Market Size in the Philippines

In 2021, the Philippine metal pickling preparations market increased by 67% to $X, rising for the third year in a row after two years of decline. Overall, consumption recorded significant growth. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in years to come.

Metal Pickling Preparations Exports

Exports from the Philippines

In 2021, approx. X tons of pickling preparations for metal surfaces were exported from the Philippines; reducing by -78.2% on 2020 figures. In general, exports continue to indicate a dramatic slump. The most prominent rate of growth was recorded in 2019 with an increase of 836% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, metal pickling preparations exports contracted dramatically to $X in 2021. Over the period under review, exports faced a sharp reduction. The pace of growth was the most pronounced in 2019 with an increase of 1,413% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Pakistan (X tons), Malaysia (X tons) and Peru (X tons) were the main destinations of metal pickling preparations exports from the Philippines, with a combined 57% share of total exports. These countries were followed by Japan, Indonesia, the United States, Thailand and South Korea, which together accounted for a further 41%.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +138.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), the United States ($X) and Malaysia ($X) were the largest markets for metal pickling preparations exported from the Philippines worldwide, with a combined 65% share of total exports.

The United States, with a CAGR of +142.4%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average metal pickling preparations export price amounted to $X per ton, remaining constant against the previous year. In general, the export price saw a dramatic descent. The growth pace was the most rapid in 2015 when the average export price increased by 103%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was South Korea ($X per ton), while the average price for exports to Indonesia ($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 Japan (+17.1%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Pickling Preparations Imports

Imports into the Philippines

In 2021, purchases abroad of pickling preparations for metal surfaces increased by 55% to X tons, rising for the fourth year in a row after two years of decline. Over the period under review, imports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2019 when imports increased by 58%. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, metal pickling preparations imports surged to $X in 2021. In general, total imports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when imports increased by 72%. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports remained at a lower figure.

Imports by Country

China (X tons), Japan (X tons) and Singapore (X tons) were the main suppliers of metal pickling preparations imports to the Philippines, with a combined 81% share of total imports. These countries were followed by Thailand, Malaysia, Taiwan (Chinese) and South Korea, which together accounted for a further 13%.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +26.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of pickling preparations for metal surfaces to the Philippines, comprising 56% of total imports. The second position in the ranking was taken by Singapore ($X), with a 16% share of total imports. It was followed by China, with a 5.3% share.

From 2012 to 2021, the average annual growth rate of value from Japan amounted to +7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+11.5% per year) and China (+2.0% per year).

Import Prices by Country

In 2021, the average metal pickling preparations import price amounted to $X per ton, flattening at the previous year. In general, the import price, however, saw a deep contraction. The most prominent rate of growth was recorded in 2016 when the average import price increased by 97% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was South Korea ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+4.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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