| Product Code: ETC11408737 | Publication Date: Apr 2025 | Updated Date: Nov 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Bhawna Singh | No. of Pages: 65 | No. of Figures: 34 | No. of Tables: 19 |
In 2024, Philippines saw a steady growth in aromatic solvent import shipments with a Compound Annual Growth Rate (CAGR) of 9.31% from 2020 to 2024. However, there was a slight decline in growth rate from 2023 to 2024 at -19.42%. Key exporting countries like Japan, Malaysia, Singapore, South Korea, and Taiwan, Province of China contributed significantly to the market. Despite moderate concentration indicated by the Herfindahl-Hirschman Index (HHI), the market shows resilience and potential for further expansion in the coming years.


1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Philippines Aromatic Solvent Market Overview |
3.1 Philippines Country Macro Economic Indicators |
3.2 Philippines Aromatic Solvent Market Revenues & Volume, 2021 & 2031F |
3.3 Philippines Aromatic Solvent Market - Industry Life Cycle |
3.4 Philippines Aromatic Solvent Market - Porter's Five Forces |
3.5 Philippines Aromatic Solvent Market Revenues & Volume Share, By Type, 2021 & 2031F |
3.6 Philippines Aromatic Solvent Market Revenues & Volume Share, By Application, 2021 & 2031F |
3.7 Philippines Aromatic Solvent Market Revenues & Volume Share, By End Use Industry, 2021 & 2031F |
4 Philippines Aromatic Solvent Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing demand for aromatic solvents in the paint and coatings industry due to rapid urbanization and infrastructure development. |
4.2.2 Growth in the pharmaceutical and personal care industries, leading to higher consumption of aromatic solvents for various applications. |
4.2.3 Rising adoption of aromatic solvents in the chemical manufacturing sector for the production of adhesives, sealants, and rubber products. |
4.3 Market Restraints |
4.3.1 Volatility in raw material prices, such as benzene and toluene, impacting the production cost of aromatic solvents. |
4.3.2 Stringent environmental regulations and increasing focus on sustainability driving the shift towards eco-friendly alternatives to aromatic solvents. |
4.3.3 Competition from substitute products like bio-based solvents posing a threat to the demand for traditional aromatic solvents. |
5 Philippines Aromatic Solvent Market Trends |
6 Philippines Aromatic Solvent Market, By Types |
6.1 Philippines Aromatic Solvent Market, By Type |
6.1.1 Overview and Analysis |
6.1.2 Philippines Aromatic Solvent Market Revenues & Volume, By Type, 2021 - 2031F |
6.1.3 Philippines Aromatic Solvent Market Revenues & Volume, By Benzene-Based, 2021 - 2031F |
6.1.4 Philippines Aromatic Solvent Market Revenues & Volume, By Toluene-Based, 2021 - 2031F |
6.1.5 Philippines Aromatic Solvent Market Revenues & Volume, By Xylene-Based, 2021 - 2031F |
6.2 Philippines Aromatic Solvent Market, By Application |
6.2.1 Overview and Analysis |
6.2.2 Philippines Aromatic Solvent Market Revenues & Volume, By Paints & Coatings, 2021 - 2031F |
6.2.3 Philippines Aromatic Solvent Market Revenues & Volume, By Pharmaceuticals, 2021 - 2031F |
6.2.4 Philippines Aromatic Solvent Market Revenues & Volume, By Adhesives & Sealants, 2021 - 2031F |
6.3 Philippines Aromatic Solvent Market, By End Use Industry |
6.3.1 Overview and Analysis |
6.3.2 Philippines Aromatic Solvent Market Revenues & Volume, By Automotive, 2021 - 2031F |
6.3.3 Philippines Aromatic Solvent Market Revenues & Volume, By Healthcare, 2021 - 2031F |
6.3.4 Philippines Aromatic Solvent Market Revenues & Volume, By Construction, 2021 - 2031F |
7 Philippines Aromatic Solvent Market Import-Export Trade Statistics |
7.1 Philippines Aromatic Solvent Market Export to Major Countries |
7.2 Philippines Aromatic Solvent Market Imports from Major Countries |
8 Philippines Aromatic Solvent Market Key Performance Indicators |
8.1 Average selling price of aromatic solvents in the Philippines market. |
8.2 Number of new product launches or innovations in the aromatic solvent sector. |
8.3 Adoption rate of eco-friendly or sustainable aromatic solvent solutions in industries. |
9 Philippines Aromatic Solvent Market - Opportunity Assessment |
9.1 Philippines Aromatic Solvent Market Opportunity Assessment, By Type, 2021 & 2031F |
9.2 Philippines Aromatic Solvent Market Opportunity Assessment, By Application, 2021 & 2031F |
9.3 Philippines Aromatic Solvent Market Opportunity Assessment, By End Use Industry, 2021 & 2031F |
10 Philippines Aromatic Solvent Market - Competitive Landscape |
10.1 Philippines Aromatic Solvent Market Revenue Share, By Companies, 2024 |
10.2 Philippines Aromatic Solvent Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |
Export potential enables firms to identify high-growth global markets with greater confidence by combining advanced trade intelligence with a structured quantitative methodology. The framework analyzes emerging demand trends and country-level import patterns while integrating macroeconomic and trade datasets such as GDP and population forecasts, bilateral import–export flows, tariff structures, elasticity differentials between developed and developing economies, geographic distance, and import demand projections. Using weighted trade values from 2020–2024 as the base period to project country-to-country export potential for 2030, these inputs are operationalized through calculated drivers such as gravity model parameters, tariff impact factors, and projected GDP per-capita growth. Through an analysis of hidden potentials, demand hotspots, and market conditions that are most favorable to success, this method enables firms to focus on target countries, maximize returns, and global expansion with data, backed by accuracy.
By factoring in the projected importer demand gap that is currently unmet and could be potential opportunity, it identifies the potential for the Exporter (Country) among 190 countries, against the general trade analysis, which identifies the biggest importer or exporter.
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