Report Update Nov 1, 2024

Philippines - Urea Resins and Thiourea Resins in Primary Forms - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Market for Urea Resins And Thiourea Resins In Primary Forms 2024

Market Size for Urea Resins And Thiourea Resins In Primary Forms in the Philippines

In 2022, the Philippine urea and thiourea resins market increased by 24% to $X, rising for the second year in a row after two years of decline. Overall, consumption posted buoyant growth. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Exports of Urea Resins And Thiourea Resins In Primary Forms

Exports from the Philippines

In 2022, shipments abroad of urea resins and thiourea resins in primary forms increased by 966% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 1,526% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, urea and thiourea resins exports soared to $X in 2022. In general, exports showed a significant increase. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Japan (X tons) was the main destination for urea and thiourea resins exports from the Philippines, accounting for a approx. 99.9% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Japan stood at +33.8%.

In value terms, Japan ($X) emerged as the key foreign market for urea resins and thiourea resins in primary forms exports from the Philippines.

From 2012 to 2022, the average annual growth rate of value to Japan stood at +41.5%.

Export Prices by Country

The average urea and thiourea resins export price stood at $X per ton in 2022, with an increase of 51% against the previous year. Overall, the export price, however, recorded a perceptible reduction. The growth pace was the most rapid in 2017 when the average export price increased by 101%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 Hong Kong SAR amounted to +133.3% per year.

Imports of Urea Resins And Thiourea Resins In Primary Forms

Imports into the Philippines

In 2022, supplies from abroad of urea resins and thiourea resins in primary forms increased by 38% to X tons, rising for the second year in a row after two years of decline. Overall, imports saw strong growth. The most prominent rate of growth was recorded in 2017 when imports increased by 234% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, urea and thiourea resins imports totaled $X in 2022. In general, imports posted a prominent expansion. The growth pace was the most rapid in 2017 when imports increased by 305%. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of urea and thiourea resins to the Philippines, with a 68% share of total imports. Moreover, urea and thiourea resins imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), fourfold. Indonesia (X tons) ranked third in terms of total imports with a 5.4% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +22.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+38.9% per year) and Indonesia (+36.9% per year).

In value terms, the largest urea and thiourea resins suppliers to the Philippines were China ($X), Japan ($X) and South Korea ($X), with a combined 85% share of total imports. Malaysia, Indonesia, Taiwan (Chinese) and Thailand lagged somewhat behind, together comprising a further 11%.

In terms of the main suppliers, Indonesia, with a CAGR of +31.8%, saw 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 2022, the average urea and thiourea resins import price amounted to $X per ton, declining by -17.5% against the previous year. In general, the import price saw a noticeable contraction. The pace of growth was the most pronounced in 2015 when the average import price increased by 49%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, 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 South Korea ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+13.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for urea resins and thiourea resins in primary forms in the world?

The countries with the highest volumes of in 2021 were China, the United States and India, with a combined 42% share of global consumption. Russia, Japan, Brazil, Indonesia, Mexico, Germany, Poland, Turkey, Canada and Iran lagged somewhat behind, together accounting for a further 27%.

What are the largest producers of urea resins and thiourea resins in primary forms in the world?

The countries with the highest volumes of in 2021 were China, the United States and India, together accounting for 42% of global production.

What are the leading suppliers of urea resins and thiourea resins in primary forms to the Philippines?

In value terms, Japan, China and Malaysia were the largest urea and thiourea resins suppliers to the Philippines, together comprising 86% of total imports.

What are the leading importers of urea resins and thiourea resins in primary forms from the Philippines?

In value terms, the largest markets for urea and thiourea resins exported from the Philippines were Indonesia, Japan and China $766).

What is the average export price for urea resins and thiourea resins in primary forms in the Philippines?

The average urea and thiourea resins export price stood at $3,194 per ton in 2021, growing by 57% against the previous year.

What is the average import price for urea resins and thiourea resins in primary forms in the Philippines?

In 2021, the average urea and thiourea resins import price amounted to $2,248 per ton, growing by 38% against the previous year.

This report provides an in-depth analysis of the market for urea and thiourea resins in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20165550 - Urea resins and thiourea resins, in primary forms

Country coverage:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023