Caustic Soda Market in the Philippines
Market Overview
In 
, after three years of decline, there was significant growth in the Philippine caustic soda market, when its value increased by % to $. Over the period under review, consumption showed a moderate expansion. As a result, consumption attained the peak level of $. From 2018 to , the growth of the market failed to regain momentum.
, after three years of decline, there was significant growth in the Philippine caustic soda market, when its value increased by % to $. Over the period under review, consumption showed a moderate expansion. As a result, consumption attained the peak level of $. From 2018 to , the growth of the market failed to regain momentum.Consumption
In , caustic soda consumption in the Philippines skyrocketed to tons, with an increase of % compared with . In general, consumption recorded a measured expansion. Caustic soda consumption peaked at tons in 2017; however, from 2018 to , consumption stood at a somewhat lower figure.
The value of the caustic soda market in the Philippines expanded markedly to $ in , increasing by % 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 enjoyed a moderate expansion. As a result, consumption attained the peak level of $. From 2018 to , the growth of the market remained at a lower figure.
, caustic soda consumption in the Philippines skyrocketed to tons, with an increase of % compared with . In general, consumption recorded a measured expansion. Caustic soda consumption peaked at tons in 2017; however, from 2018 to , consumption stood at a somewhat lower figure.The value of the caustic soda market in the Philippines expanded markedly to $
in , increasing by % 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 enjoyed a moderate expansion. As a result, consumption attained the peak level of $. From 2018 to , the growth of the market remained at a lower figure.Market Forecast
Driven by increasing demand for caustic soda in the Philippines, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .
In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the period from to , which is projected to bring the market volume to tons by the end of .In value terms, the market is forecast to increase with an anticipated CAGR of +
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .Market Structure
Caustic soda market in the Philippines consists almost entirely of imported products. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately ( percentage point) over the period under review.
, the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately ( percentage point) over the period under review.Trade Balance
The Philippines remains a net importer of caustic soda; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
. In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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