Philippines - Urea Resins And Thiourea Resins In Primary Forms - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Urea and Thiourea Resins in the Philippines - 2023
Contents:
- Price for Urea and Thiourea Resins in the Philippines (CIF) - 2022
- Price for Urea and Thiourea Resins in the Philippines (FOB) - 2022
- Imports of Urea and Thiourea Resins in the Philippines
- Exports of Urea and Thiourea Resins in the Philippines
Price for Urea and Thiourea Resins in the Philippines (CIF) - 2022
In 2022, the average urea and thiourea resins import price amounted to $1,883 per ton, reducing by -17.5% against the previous year. Overall, the import price recorded a perceptible slump. The pace of growth appeared the most rapid in 2015 when the average import price increased by 49%. Over the period under review, average import prices attained the maximum at $2,986 per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Korea ($6,780 per ton), while the price for Indonesia ($871 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.
Price for Urea and Thiourea Resins in the Philippines (FOB) - 2022
The average urea and thiourea resins export price stood at $4,976 per ton in 2022, jumping by 30% against the previous year. In general, the export price, however, showed a noticeable descent. The pace of growth was the most pronounced in 2017 when the average export price increased by 102% against the previous year. The export price peaked at $7,613 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.
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 and Thiourea Resins in the Philippines
In 2022, the amount of urea resins and thiourea resins in primary forms imported into the Philippines soared to 7.8K tons, picking up by 38% on 2021. Overall, total imports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +14.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +83.2% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, urea and thiourea resins imports rose rapidly to $15M in 2022. The total import value increased at an average annual rate of +2.3% from 2019 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Urea and Thiourea Resins in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 3.0 | 2.8 | 4.3 | 5.9 | 25.3% |
| Japan | 9.1 | 8.5 | 6.2 | 5.2 | -17.0% |
| South Korea | 0.1 | N/A | N/A | 1.4 | 141.0% |
| Malaysia | 0.2 | 0.5 | 0.7 | 1.0 | 71.0% |
| Indonesia | 0.1 | 0.1 | N/A | 0.4 | 58.7% |
| Others | 1.3 | 0.9 | 1.7 | 0.8 | -14.9% |
| Total | 13.8 | 12.8 | 13.0 | 14.8 | 2.4% |
Top Suppliers of Urea and Thiourea Resins to the Philippines in 2022:
- China (5.4K tons)
- Japan (1.3K tons)
- Indonesia (0.4K tons)
- Malaysia (0.3K tons)
- South Korea (0.2K tons)
Exports of Urea and Thiourea Resins in the Philippines
In 2022, approx. 23 tons of urea resins and thiourea resins in primary forms were exported from the Philippines; jumping by 1,134% against 2021 figures. Over the period under review, exports continue to indicate a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, urea and thiourea resins exports skyrocketed to $115K in 2022. In general, exports saw significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Urea and Thiourea Resins in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 0.2 | 0.8 | 2.6 | 115 | 731.6% |
| Micronesia | 1.4 | N/A | N/A | N/A | 0% |
| Indonesia | N/A | N/A | 3.9 | N/A | 0% |
| Others | 1.8 | 0.4 | 0.8 | N/A | -33.3% |
| Total | 3.5 | 1.2 | 7.2 | 115 | 220.3% |
Top Export Markets for Urea and Thiourea Resins from the Philippines in 2022:
- Japan (23.2 tons)
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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