Price for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in the Philippines - 2024
Contents:
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in the Philippines (CIF) - 2022
- Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in the Philippines
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in the Philippines (CIF) - 2022
In 2022, the average import price for acids; saturated acyclic monocarboxylic acids; salts of formic acidses amounted to $3,220 per ton, reducing by -6.9% against the previous year. Overall, the import price, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2021 an increase of 211% against the previous year. As a result, import price reached the peak level of $3,459 per ton, and then dropped in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Norway ($2,109 per ton), while the price for Taiwan (Chinese) ($438 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in the Philippines
In 2022, supplies from abroad of acids; saturated acyclic monocarboxylic acids; salts of formic acidses decreased by -24.7% to 413 tons, falling for the second consecutive year after two years of growth. In general, imports showed a abrupt decline. The growth pace was the most rapid in 2020 with an increase of 9.1%. As a result, imports attained the peak of 858 tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of acids; saturated acyclic monocarboxylic acids; salts of formic acidses reduced remarkably to $1.3M in 2022. Over the period under review, imports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 99% against the previous year. As a result, imports reached the peak of $1.9M, and then fell sharply in the following year.
| Import of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Norway | N/A | N/A | 599 | 487 | -18.7% |
| China | 112 | 315 | 347 | 160 | 12.6% |
| Taiwan (Chinese) | 17.2 | 6.6 | N/A | 8.8 | -20.0% |
| South Korea | 0.1 | 91.7 | N/A | N/A | 91600.0% |
| United Kingdom | 110 | N/A | N/A | N/A | 0% |
| Finland | 132 | N/A | N/A | N/A | 0% |
| Others | 372 | 542 | 952 | 675 | 22.0% |
| Total | 743 | 955 | 1,898 | 1,330 | 21.4% |
Top Suppliers of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids to the Philippines in 2022:
- Norway (230.8 tons)
- China (160.0 tons)
- Taiwan (Chinese) (20.0 tons)
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