Halogenated Hydrocarbon Derivative Market in the Philippines
Market Overview
In 
, the Philippine halogenated hydrocarbon derivative market decreased by -% to $ for the first time since 2018, thus ending a three-year rising trend. Over the period under review, consumption, however, posted a prominent expansion. As a result, consumption reached the peak level of $, and then fell in the following year.
, the Philippine halogenated hydrocarbon derivative market decreased by -% to $ for the first time since 2018, thus ending a three-year rising trend. Over the period under review, consumption, however, posted a prominent expansion. As a result, consumption reached the peak level of $, and then fell in the following year.Consumption
In , consumption of halogenated derivatives of hydrocarbons decreased by -% to tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, consumption, however, saw moderate growth. Halogenated hydrocarbon derivative consumption peaked at tons in , and then fell markedly in the following year.
The revenue of the halogenated hydrocarbon derivative market in the Philippines shrank to $ in , with a decrease of -% 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). In general, consumption, however, continues to indicate a resilient increase. As a result, consumption attained the peak level of $, and then dropped in the following year.
, consumption of halogenated derivatives of hydrocarbons decreased by -% to tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, consumption, however, saw moderate growth. Halogenated hydrocarbon derivative consumption peaked at tons in , and then fell markedly in the following year.The revenue of the halogenated hydrocarbon derivative market in the Philippines shrank to $
in , with a decrease of -% 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). In general, consumption, however, continues to indicate a resilient increase. As a result, consumption attained the peak level of $, and then dropped in the following year.Market Forecast
Driven by increasing demand for halogenated derivatives of hydrocarbons in the Philippines, the market is expected to continue an upward consumption trend over the next eight years. 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
Halogenated hydrocarbon derivative 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 halogenated hydrocarbon derivative; 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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