Price for Paints and Varnishes, Based On Acrylic or Vinyl Polymers, Non-Aqueous Medium in the Philippines - 2023

Contents:

1. Price for Paints and Varnishes, Based On Acrylic or Vinyl Polymers, Non-Aqueous Medium in the Philippines (CIF) - 2023
2. Price for Paints and Varnishes, Based On Acrylic or Vinyl Polymers, Non-Aqueous Medium in the Philippines (FOB) - 2022
3. Imports of Paints and Varnishes, Based On Acrylic or Vinyl Polymers, Non-Aqueous Medium in the Philippines
4. Exports of Paints and Varnishes, Based On Acrylic or Vinyl Polymers, Non-Aqueous Medium in the Philippines

Price for Paints and Varnishes, Based On Acrylic or Vinyl Polymers, Non-Aqueous Medium in the Philippines (CIF) - 2023

The average import price for paints and varnishes, based on acrylic or vinyl polymers, non-aqueous medium stood at $3,325 per ton in September 2023, falling by -34.3% against the previous month. In general, the import price, however, showed a noticeable expansion. The most prominent rate of growth was recorded in February 2023 an increase of 84% m-o-m. The import price peaked at $5,178 per ton in March 2023; however, from April 2023 to September 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was Japan ($8,519 per ton), while the price for China ($1,162 per ton) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by China (+11.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Paints and Varnishes, Based On Acrylic or Vinyl Polymers, Non-Aqueous Medium in the Philippines (FOB) - 2022

In 2022, the average export price for paints and varnishes, based on acrylic or vinyl polymers, non-aqueous medium amounted to $2,269 per ton, with a decrease of -34.2% against the previous year. Over the period under review, the export price continues to indicate a pronounced decline. The most prominent rate of growth was recorded in 2021 an increase of 49%. The export price peaked at $5,093 per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($6,357 per ton), while the average price for exports to Japan ($1,870 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+13.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Paints and Varnishes, Based On Acrylic or Vinyl Polymers, Non-Aqueous Medium in the Philippines

Imports of paints and varnishes, based on acrylic or vinyl polymers, non-aqueous medium into the Philippines soared to 3K tons in 2022, increasing by 119% compared with the previous year's figure. In general, imports enjoyed significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of paints and varnishes, based on acrylic or vinyl polymers, non-aqueous medium soared to $7.9M in 2022. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +19.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +70.6% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Paints and Varnishes, Based On Acrylic or Vinyl Polymers, Non-Aqueous Medium to the Philippines in 2022:

1. United Arab Emirates (941.5 tons)
2. China (860.5 tons)
3. Japan (300.0 tons)
4. Thailand (186.4 tons)
5. Indonesia (97.9 tons)
6. Italy (78.0 tons)
7. Singapore (67.8 tons)
8. India (66.6 tons)
9. Malaysia (58.4 tons)
10. South Korea (45.6 tons)
11. Mexico (45.5 tons)
12. Belgium (30.5 tons)
13. Taiwan (Chinese) (28.0 tons)

Exports of Paints and Varnishes, Based On Acrylic or Vinyl Polymers, Non-Aqueous Medium in the Philippines

In 2022, approx. 1.2K tons of paints and varnishes, based on acrylic or vinyl polymers, non-aqueous medium were exported from the Philippines; growing by 14% on 2021 figures. In general, exports, however, continue to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2021 with an increase of 18% against the previous year.

In value terms, exports of paints and varnishes, based on acrylic or vinyl polymers, non-aqueous medium fell sharply to $2.7M in 2022. Over the period under review, exports, however, continue to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2021 with an increase of 75% against the previous year. As a result, the exports reached the peak of $3.6M, and then contracted dramatically in the following year.

Top Export Markets for Paints and Varnishes, Based On Acrylic or Vinyl Polymers, Non-Aqueous Medium from the Philippines in 2022:

1. Japan (1053.3 tons)
2. Vietnam (81.2 tons)
3. India (24.0 tons)

Source: IndexBox Market Intelligence Platform