Price for Paints and Varnishes, Based On Polyesters, Non-Aqueous Medium in the Philippines - 2023

Contents:

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

Price for Paints and Varnishes, Based On Polyesters, Non-Aqueous Medium in the Philippines (CIF) - 2022

In 2022, the average import price for paints and varnishes, based on polyesters, non-aqueous medium amounted to $5,942 per ton, rising by 16% against the previous year. Over the period under review, import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for paints and varnishes, based on polyesters, non-aqueous medium increased by +109.0% against 2017 indices. The most prominent rate of growth was recorded in 2018 an increase of 38% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($9,307 per ton), while the price for Singapore ($1,608 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Paints and Varnishes, Based On Polyesters, Non-Aqueous Medium in the Philippines (FOB) - 2022

The average export price for paints and varnishes, based on polyesters, non-aqueous medium stood at $6,645 per ton in 2022, picking up by 149% against the previous year. In general, the export price posted a noticeable expansion. The pace of growth appeared the most rapid in 2018 when the average export price increased by 358%. As a result, the export price attained the peak level of $19,540 per ton. From 2019 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($12,557 per ton), while the average price for exports to Northern Mariana Islands ($1,726 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 Hong Kong SAR (+136.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Paints and Varnishes, Based On Polyesters, Non-Aqueous Medium in the Philippines

In 2022, the amount of paints and varnishes, based on polyesters, non-aqueous medium imported into the Philippines reduced remarkably to 1.8K tons, declining by -22.2% on the previous year's figure. Overall, imports continue to indicate a deep contraction. The pace of growth was the most pronounced in 2021 with an increase of 27%.

In value terms, imports of paints and varnishes, based on polyesters, non-aqueous medium shrank to $11M in 2022. Over the period under review, imports showed a drastic downturn. The pace of growth appeared the most rapid in 2021 with an increase of 45%.

Top Suppliers of Paints and Varnishes, Based On Polyesters, Non-Aqueous Medium to the Philippines in 2022:

1. Thailand (702.2 tons)
2. Malaysia (504.1 tons)
3. Singapore (123.3 tons)
4. United Arab Emirates (102.7 tons)
5. China (68.8 tons)
6. Germany (53.1 tons)
7. Hong Kong SAR (51.1 tons)
8. Taiwan (Chinese) (48.4 tons)
9. Japan (36.1 tons)
10. United Kingdom (5.2 tons)
11. Indonesia (3.6 tons)
12. Vietnam (3.6 tons)

Exports of Paints and Varnishes, Based On Polyesters, Non-Aqueous Medium in the Philippines

In 2022, the amount of paints and varnishes, based on polyesters, non-aqueous medium exported from the Philippines fell rapidly to 28 tons, dropping by -19.6% against the year before. Overall, total exports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +7.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +39.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 74%. As a result, the exports attained the peak of 35 tons, and then fell notably in the following year.

In value terms, exports of paints and varnishes, based on polyesters, non-aqueous medium surged to $189K in 2022. In general, exports, however, continue to indicate strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

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

1. Papua New Guinea (10.0 tons)
2. Indonesia (8.7 tons)
3. Micronesia (6.1 tons)
4. Bangladesh (1.6 tons)
5. Northern Mariana Islands (1.1 tons)
6. China (0.5 tons)

Source: IndexBox Market Intelligence Platform