Philippines: Market for Pure Polyvinyl Chloride in Primary Forms 2024

Market Size for Pure Polyvinyl Chloride in Primary Forms in the Philippines

In 2022, the Philippine market for pure polyvinyl chloride in primary forms was finally on the rise to reach $X after three years of decline. The market value increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Consumption of peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Pure Polyvinyl Chloride in Primary Forms in the Philippines

In value terms, production of pure polyvinyl chloride in primary forms amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when the production volume increased by 43% against the previous year. Production of peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Pure Polyvinyl Chloride in Primary Forms

Exports from the Philippines

In 2022, after four years of growth, there was significant decline in overseas shipments of pure polyvinyl chloride in primary forms, when their volume decreased by -31.3% to X tons. Over the period under review, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 5,591%. Over the period under review, the exports of attained the peak figure at X tons in 2021, and then plummeted in the following year.

In value terms, exports of pure polyvinyl chloride in primary forms reduced dramatically to $X in 2022. In general, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 1,410% against the previous year. The exports peaked at $X in 2021, and then declined rapidly in the following year.

Exports by Country

Vietnam (X tons) was the main destination for exports of pure polyvinyl chloride in primary forms from the Philippines, with a 77% share of total exports. Moreover, exports of pure polyvinyl chloride in primary forms to Vietnam exceeded the volume sent to the second major destination, Indonesia (X tons), ninefold. Malaysia (X tons) ranked third in terms of total exports with a 6.9% share.

From 2012 to 2022, the average annual growth rate of volume to Vietnam stood at +133.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+132.3% per year) and Malaysia (+65.2% per year).

In value terms, Vietnam ($X) remains the key foreign market for pure polyvinyl chloride in primary forms exports from the Philippines, comprising 77% of total exports. The second position in the ranking was held by Indonesia ($X), with a 7.5% share of total exports. It was followed by Malaysia, with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Vietnam stood at +119.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+143.5% per year) and Malaysia (+121.1% per year).

Export Prices by Country

The average export price for pure polyvinyl chloride in primary forms stood at $X per ton in 2022, dropping by -17% against the previous year. In general, the export price showed a slight decline. The growth pace was the most rapid in 2017 an increase of 96%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were China ($X per ton) and Thailand ($X per ton), while the average price for exports to Indonesia ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+33.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Pure Polyvinyl Chloride in Primary Forms

Imports into the Philippines

Imports of pure polyvinyl chloride in primary forms into the Philippines contracted to X tons in 2022, reducing by -8.8% on 2021 figures. Overall, imports saw a pronounced curtailment. The pace of growth was the most pronounced in 2016 when imports increased by 109%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of pure polyvinyl chloride in primary forms dropped to $X in 2022. Over the period under review, imports continue to indicate a perceptible slump. The most prominent rate of growth was recorded in 2016 when imports increased by 92% against the previous year. Over the period under review, imports of attained the peak figure at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Thailand (X tons) constituted the largest supplier of pure polyvinyl chloride in primary forms to the Philippines, with a 56% share of total imports. Moreover, imports of pure polyvinyl chloride in primary forms from Thailand exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), fivefold. The third position in this ranking was held by Indonesia (X tons), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Thailand amounted to -5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+6.6% per year) and Indonesia (+21.4% per year).

In value terms, Thailand ($X) constituted the largest supplier of pure polyvinyl chloride in primary forms to the Philippines, comprising 48% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 16% share of total imports. It was followed by Indonesia, with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Thailand amounted to -4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+15.9% per year) and Indonesia (+24.0% per year).

Import Prices by Country

The average import price for pure polyvinyl chloride in primary forms stood at $X per ton in 2022, shrinking by -2.6% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2021 an increase of 45% against the previous year. As a result, import price attained the peak level of $X per ton, and then shrank slightly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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