Philippines: Sulphur Market 2024

Sulphur Market Size in the Philippines

After three years of decline, the Philippine sulphur market increased by 4% to $X in 2021. The market value increased at an average annual rate of +4.5% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Sulphur Production in the Philippines

In value terms, sulphur production rose slightly to $X in 2021 estimated in export price. Over the period under review, the total production indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -11.4% against 2017 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by 61% against the previous year. Sulphur production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Sulphur Exports

Exports from the Philippines

After two years of decline, overseas shipments of sulphur (sublimed or precipitated) and colloidal sulphur increased by 568% to X tons in 2021. In general, exports enjoyed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, sulphur exports soared to $X in 2021. Overall, exports recorded significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Taiwan (Chinese) (X tons) was the main destination for sulphur exports from the Philippines, accounting for a 83% share of total exports. Moreover, sulphur exports to Taiwan (Chinese) exceeded the volume sent to the second major destination, Singapore (X tons), eightfold. Malaysia (X tons) ranked third in terms of total exports with a 5.2% share.

From 2012 to 2021, the average annual growth rate of volume to Taiwan (Chinese) amounted to +26.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+80.2% per year) and Malaysia (+103.1% per year).

In value terms, Taiwan (Chinese) ($X) remains the key foreign market for sulphur (sublimed or precipitated) and colloidal sulphur exports from the Philippines, comprising 78% of total exports. The second position in the ranking was taken by Singapore ($X), with a 10% share of total exports. It was followed by Malaysia, with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Taiwan (Chinese) totaled +32.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+82.7% per year) and Malaysia (+105.5% per year).

Export Prices by Country

The average sulphur export price stood at $X per ton in 2021, rising by 4.6% against the previous year. Over the last nine years, it increased at an average annual rate of +5.1%. The pace of growth appeared the most rapid in 2013 an increase of 74%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 Vietnam (+15.4%), while the prices for the other major destinations experienced more modest paces of growth.

Sulphur Imports

Imports into the Philippines

Sulphur imports into the Philippines skyrocketed to X tons in 2021, with an increase of 32% against 2020 figures. Over the period under review, imports, however, recorded a sharp setback. The most prominent rate of growth was recorded in 2015 when imports increased by 217%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, sulphur imports shrank markedly to $X in 2021. Overall, imports, however, continue to indicate a sharp setback. The most prominent rate of growth was recorded in 2015 when imports increased by 136% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Russia (X tons) constituted the largest supplier of sulphur to the Philippines, with a 61% share of total imports. Moreover, sulphur imports from Russia exceeded the figures recorded by the second-largest supplier, South Korea (X tons), fourfold. Germany (X tons) ranked third in terms of total imports with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Russia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-17.5% per year) and Germany (-2.4% per year).

In value terms, the largest sulphur suppliers to the Philippines were Germany ($X), Russia ($X) and South Korea ($X), together accounting for 56% of total imports.

Russia, with a CAGR of 0.0%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average sulphur import price amounted to $X per ton, reducing by -46.2% against the previous year. Over the period under review, the import price showed a deep setback. The most prominent rate of growth was recorded in 2013 an increase of 36% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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