Philippines: Market for Reaction Initiators, Reaction Accelerators And Catalytic Preparations 2024

Market Size for Reaction Initiators, Reaction Accelerators And Catalytic Preparations in the Philippines

The Philippine reaction initiators and accelerators market rose remarkably to $X in 2022, surging by 13% 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). In general, consumption saw a resilient expansion. Reaction initiators and accelerators consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Exports of Reaction Initiators, Reaction Accelerators And Catalytic Preparations

Exports from the Philippines

Reaction initiators and accelerators exports from the Philippines declined sharply to X kg in 2022, with a decrease of -99.8% compared with 2021. In general, exports recorded a significant decline. The most prominent rate of growth was recorded in 2013 with an increase of 388% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, reaction initiators and accelerators exports reduced markedly to $X in 2022. Overall, exports saw a significant decline. The pace of growth was the most pronounced in 2019 when exports increased by 267% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Japan (X kg) was the main destination for reaction initiators and accelerators exports from the Philippines, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan was relatively modest.

In value terms, Japan ($X) emerged as the key foreign market for reaction initiators, reaction accelerators and catalytic preparations exports from the Philippines.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan was relatively modest.

Export Prices by Country

The average reaction initiators and accelerators export price stood at $X per ton in 2022, increasing by 478% against the previous year. Over the period under review, the export price showed a significant increase. As a result, the export price reached 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 Japan.

From 2012 to 2022, the rate of growth in terms of prices for Germany amounted to +299.5% per year.

Imports of Reaction Initiators, Reaction Accelerators And Catalytic Preparations

Imports into the Philippines

In 2022, purchases abroad of reaction initiators, reaction accelerators and catalytic preparations increased by 11% to X tons, rising for the second consecutive year after three years of decline. Overall, imports enjoyed resilient growth. The growth pace was the most rapid in 2017 when imports increased by 106% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, reaction initiators and accelerators imports expanded remarkably to $X in 2022. In general, imports continue to indicate buoyant growth. The pace of growth was the most pronounced in 2016 when imports increased by 123%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

The United States (X tons), Malaysia (X tons) and the Netherlands (X tons) were the main suppliers of reaction initiators and accelerators imports to the Philippines, together comprising 62% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +168.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Japan ($X) constituted the largest reaction initiators and accelerators suppliers to the Philippines, with a combined 71% share of total imports. The Netherlands, Malaysia, Singapore, France, Germany and Canada lagged somewhat behind, together accounting for a further 15%.

In terms of the main suppliers, the Netherlands, with a CAGR of +126.7%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average reaction initiators and accelerators import price stood at $X per ton in 2022, remaining constant against the previous year. In general, import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, reaction initiators and accelerators import price decreased by -17.1% against 2020 indices. The pace of growth was the most pronounced in 2018 an increase of 70%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Japan ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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