Alcohols Market Overview in the Philippines
In value terms, alcohols production contracted to $ in 2019 estimated in export prices. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 with an increase of % against the previous year. As a result, production attained the peak level of $. From 2012 to 2019, production growth failed to regain the momentum.
The value of the alcohols market in the Philippines shrank modestly to $ in 2019, declining 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). In general, consumption, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the market value increased by % against the previous year. The Philippines consumption peaked at $ in 2018, and then declined slightly in the following year.