Philippines: Market for Caustic Soda in Aqueous Solution (Soda Lye) 2024

Market Size for Caustic Soda in Aqueous Solution (Soda Lye) in the Philippines

In 2021, the Philippine market for caustic soda in aqueous solution (soda lye) increased by 21% to $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption, however, showed a mild setback. Consumption of peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Exports of Caustic Soda in Aqueous Solution (Soda Lye)

Exports from the Philippines

Exports of caustic soda in aqueous solution (soda lye) from the Philippines soared to X tons in 2021, growing by 349% on the previous year's figure. Overall, exports enjoyed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of caustic soda in aqueous solution (soda lye) surged to $X in 2021. In general, exports continue to indicate a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Canada (X tons), the United States (X tons) and the Netherlands (X tons) were the main destinations of exports of caustic soda in aqueous solution (soda lye) from the Philippines, with a combined 67% share of total exports. These countries were followed by Kuwait, New Zealand, the United Arab Emirates, Bahrain and Singapore, which together accounted for a further 33%.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +77.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X), New Zealand ($X) and the United States ($X) constituted the largest markets for caustic soda in aqueous solution (soda lye) exported from the Philippines worldwide, with a combined 58% share of total exports. Kuwait, the Netherlands, the United Arab Emirates, Bahrain and Singapore lagged somewhat behind, together accounting for a further 38%.

The United Arab Emirates, with a CAGR of +123.7%, recorded the highest rates of growth with regard to the value of exports, in terms of 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

The average export price for caustic soda in aqueous solution (soda lye) stood at $X per ton in 2021, rising by 13% against the previous year. Over the period under review, the export price, however, saw a perceptible curtailment. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while the average price for exports to the Netherlands ($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 the United Arab Emirates (+25.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Caustic Soda in Aqueous Solution (Soda Lye)

Imports into the Philippines

In 2021, the amount of caustic soda in aqueous solution (soda lye) imported into the Philippines surged to X tons, growing by 29% on the previous year. In general, imports posted a modest increase. The growth pace was the most rapid in 2015 with an increase of 198%. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, imports of caustic soda in aqueous solution (soda lye) soared to $X in 2021. Overall, imports, however, continue to indicate a noticeable decrease. The pace of growth appeared the most rapid in 2015 with an increase of 100%. Over the period under review, imports of reached the peak figure at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of caustic soda in aqueous solution (soda lye) to the Philippines, accounting for a 49% share of total imports. Moreover, imports of caustic soda in aqueous solution (soda lye) from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), threefold. Japan (X tons) ranked third in terms of total imports with a 16% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+30.3% per year) and Japan (+1.3% per year).

In value terms, China ($X) constituted the largest supplier of caustic soda in aqueous solution (soda lye) to the Philippines, comprising 45% of total imports. The second position in the ranking was held by Japan ($X), with a 21% share of total imports. It was followed by Taiwan (Chinese), with a 17% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to -8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-0.6% per year) and Taiwan (Chinese) (+22.2% per year).

Import Prices by Country

The average import price for caustic soda in aqueous solution (soda lye) stood at $X per ton in 2021, declining by -9.2% against the previous year. In general, the import price recorded a pronounced setback. The pace of growth appeared the most rapid in 2017 when the average import price increased by 43% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (-1.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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