Alcohols Market Overview in the Philippines
Market Overview
After two years of growth, the Philippine alcohols market decreased by -
% to $ in 2019. Overall, consumption, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the market value increased by % year-to-year. Over the period under review, the market reached the maximum level at $ in 2018, and then contracted in the following year.
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.
% to $ in 2019. Overall, consumption, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the market value increased by % year-to-year. Over the period under review, the market reached the maximum level at $ in 2018, and then contracted in the following year.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.Consumption
In 2019, after four years of growth, there was decline in consumption of alcohols and their halogenated, sulphonated, nitrated or nitrosated derivatives, when its volume decreased by -% to tonnes. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of % against the previous year. The Philippines consumption peaked at tonnes in 2018, and then shrank in the following year.
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.
% to tonnes. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of % against the previous year. The Philippines consumption peaked at tonnes in 2018, and then shrank in the following year.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.Market Forecast
Driven by increasing demand for alcohols 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 2019 to , which is projected to bring the market volume to tonnes by the end of .
% for the period from 2019 to , which is projected to bring the market volume to tonnes by the end of .Market Structure
Driven by a growing demand, the share of imports in total supply in the Philippines increased significantly over the last twelve years (from % to %).
% to %).Trade Balance
Those figures reflect the fact that neither imports nor exports don’t dominate the trade balance, and the country may export not only the product manufactured domestically, but also re-export some previously imported goods.
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