Philippines: Solid Biofuel Market 2024

Solid Biofuel Market Size in the Philippines

The Philippine solid biofuel market declined to $X in 2022, with a decrease of X% against the previous year. Overall, consumption showed a deep downturn. Solid biofuel consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Solid Biofuel Production in the Philippines

In value terms, solid biofuel production contracted to $X in 2022 estimated in export price. In general, production continues to indicate a perceptible decrease. The pace of growth appeared the most rapid in 2017 with an increase of X%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Solid Biofuel Exports

Exports from the Philippines

For the sixth consecutive year, the Philippines recorded growth in shipments abroad of solid biofuels, which increased by X% to X tons in 2022. Over the period under review, exports recorded a significant increase. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, solid biofuel exports totaled $X in 2022. Overall, exports posted a significant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in years to come.

Exports by Country

China (X tons) was the main destination for solid biofuel exports from the Philippines, accounting for a X% share of total exports. Moreover, solid biofuel exports to China exceeded the volume sent to the second major destination, Japan (X tons), threefold. The third position in this ranking was taken by South Korea (X tons), with a X% share.

From 2017 to 2022, the average annual rate of growth in terms of volume to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and South Korea (X% per year).

In value terms, China ($X), Japan ($X) and South Korea ($X) constituted the largest markets for solid biofuel exported from the Philippines worldwide, together comprising X% of total exports.

China, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average solid biofuel export price amounted to $X per ton, remaining relatively unchanged against the previous year. Over the last five-year period, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then contracted in the following year.

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

From 2017 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (X%), while the prices for the other major destinations experienced more modest paces of growth.

Solid Biofuel Imports

Imports into the Philippines

In 2022, the amount of solid biofuels imported into the Philippines surged to X tons, rising by X% on 2021 figures. Overall, imports posted a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of X%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, solid biofuel imports dropped significantly to $X in 2022. Over the period under review, imports recorded resilient growth. The most prominent rate of growth was recorded in 2020 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2021, and then dropped significantly in the following year.

Imports by Country

South Africa (X tons), Vietnam (X tons) and Malaysia (X tons) were the main suppliers of solid biofuel imports to the Philippines, together comprising X% of total imports.

From 2017 to 2022, the biggest increases were recorded for South Africa (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X) constituted the largest supplier of solid biofuels to the Philippines, comprising X% of total imports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total imports. It was followed by Vietnam, with a X% share.

From 2017 to 2022, the average annual growth rate of value from South Africa stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and Vietnam (X% per year).

Import Prices by Country

The average solid biofuel import price stood at $X per ton in 2022, waning by X% against the previous year. Overall, the import price recorded a abrupt downturn. The pace of growth appeared the most rapid in 2021 when the average import price increased by X%. As a result, import price attained the peak level of $X per ton, and then plummeted in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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