Philippines: Market for Unsaturated Polyesters In Primary Forms 2024

Market Size for Unsaturated Polyesters In Primary Forms in the Philippines

The Philippine market for unsaturated polyesters in primary forms surged to $X in 2021, jumping by 29% 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). Overall, consumption posted a significant expansion. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Exports of Unsaturated Polyesters In Primary Forms

Exports from the Philippines

Unsaturated polyesters in primary forms exports from the Philippines reached X tons in 2021, growing by 4.4% on the year before. Over the period under review, exports, however, saw a abrupt descent. The pace of growth appeared the most rapid in 2019 when exports increased by 182% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, unsaturated polyesters in primary forms exports soared to $X in 2021. In general, exports, however, continue to indicate a deep setback. The most prominent rate of growth was recorded in 2019 with an increase of 324% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Sri Lanka (X tons) was the main destination for unsaturated polyesters in primary forms exports from the Philippines, accounting for a 85% share of total exports. Moreover, unsaturated polyesters in primary forms exports to Sri Lanka exceeded the volume sent to the second major destination, Indonesia (X tons), sevenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Sri Lanka totaled -5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-14.1% per year) and Bangladesh (-11.4% per year).

In value terms, Sri Lanka ($X) remains the key foreign market for unsaturated polyesters in primary forms exports from the Philippines, comprising 72% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 25% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Sri Lanka amounted to -3.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-5.8% per year) and Bangladesh (-10.6% per year).

Export Prices by Country

In 2021, the average export price for unsaturated polyesters in primary forms amounted to $X per ton, picking up by 38% against the previous year. In general, export price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, unsaturated polyesters in primary forms export price increased by +79.9% against 2016 indices. The growth pace was the most rapid in 2019 when the average export price increased by 51% against the previous year. The export price peaked in 2021 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Sri Lanka ($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 Indonesia (+9.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Unsaturated Polyesters In Primary Forms

Imports into the Philippines

In 2021, approx. X tons of unsaturated polyesters in primary forms were imported into the Philippines; increasing by 17% on the year before. Over the period under review, imports saw a significant increase. The pace of growth was the most pronounced in 2016 with an increase of 106% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, unsaturated polyesters in primary forms imports soared to $X in 2021. Overall, imports continue to indicate significant growth. The pace of growth was the most pronounced in 2016 with an increase of 161% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Singapore (X tons), Taiwan (Chinese) (X tons) and Malaysia (X tons) were the main suppliers of unsaturated polyesters in primary forms imports to the Philippines, together comprising 62% of total imports.

From 2012 to 2021, the biggest increases were recorded for Singapore (with a CAGR of +56.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Singapore ($X) and Taiwan (Chinese) ($X) appeared to be the largest unsaturated polyesters in primary forms suppliers to the Philippines, with a combined 58% share of total imports.

Among the main suppliers, Singapore, with a CAGR of +50.2%, recorded the highest rates of growth with regard to 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

In 2021, the average import price for unsaturated polyesters in primary forms amounted to $X per ton, with an increase of 14% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average import price increased by 27%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Singapore ($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 (+4.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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