Philippines: Unsaturated Acyclic Hydrocarbons Market 2024

Unsaturated Acyclic Hydrocarbons Market Size in the Philippines

The Philippine unsaturated acyclic hydrocarbons market soared to $X in 2021, rising by 264% 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). Over the period under review, consumption showed a significant increase. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in the immediate term.

Unsaturated Acyclic Hydrocarbons Exports

Exports from the Philippines

In 2021, exports of unsaturated acyclic hydrocarbons from the Philippines amounted to X kg, surging by 2.2% compared with the previous year's figure. In general, exports, however, recorded a deep contraction. The pace of growth was the most pronounced in 2019 when exports increased by 711% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, unsaturated acyclic hydrocarbons exports declined remarkably to $X in 2021. Over the period under review, exports, however, recorded a abrupt decline. The pace of growth was the most pronounced in 2019 when exports increased by 600%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X kg) was the main destination for unsaturated acyclic hydrocarbons exports from the Philippines, accounting for a 60% share of total exports. Moreover, unsaturated acyclic hydrocarbons exports to the United Arab Emirates exceeded the volume sent to the second major destination, New Zealand (X kg), threefold. The third position in this ranking was taken by Singapore (X kg), with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (+19.1% per year) and Singapore (-3.0% per year).

In value terms, Singapore ($X) remains the key foreign market for unsaturated acyclic hydrocarbons exports from the Philippines, comprising 68% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 21% share of total exports. It was followed by New Zealand, with a 7.3% share.

From 2012 to 2021, the average annual growth rate of value to Singapore totaled +4.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (0.0% per year) and New Zealand (+4.2% per year).

Export Prices by Country

The average unsaturated acyclic hydrocarbons export price stood at $X per ton in 2021, with a decrease of -64.6% against the previous year. In general, the export price showed a pronounced downturn. The growth pace was the most rapid in 2018 when the average export price increased by 25% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to the United Arab Emirates ($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 Singapore (+8.1%), while the prices for the other major destinations experienced a decline.

Unsaturated Acyclic Hydrocarbons Imports

Imports into the Philippines

In 2021, imports of unsaturated acyclic hydrocarbons into the Philippines surged to X tons, jumping by 308% on 2020 figures. Overall, imports posted a significant increase. The growth pace was the most rapid in 2014 when imports increased by 698% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, unsaturated acyclic hydrocarbons imports skyrocketed to $X in 2021. Over the period under review, imports posted significant growth. The pace of growth was the most pronounced in 2014 when imports increased by 606%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the near future.

Imports by Country

Thailand (X tons), Algeria (X tons) and South Korea (X tons) were the main suppliers of unsaturated acyclic hydrocarbons imports to the Philippines, with a combined 59% share of total imports. These countries were followed by Qatar, South Africa, Saudi Arabia, Singapore and the United States, which together accounted for a further 36%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +155.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) constituted the largest supplier of unsaturated acyclic hydrocarbons to the Philippines, comprising 31% of total imports. The second position in the ranking was taken by South Korea ($X), with an 11% share of total imports. It was followed by South Africa, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Thailand totaled +98.1%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+45.1% per year) and South Africa (+73.7% per year).

Import Prices by Country

The average unsaturated acyclic hydrocarbons import price stood at $X per ton in 2021, waning by -25.1% against the previous year. Overall, the import price continues to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2016 an increase of 40% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat 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 the United States ($X per ton), while the price for Algeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (-2.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :