Philippines: Aluminium Bar Market 2024

Aluminium Bar Market Size in the Philippines

The Philippine aluminium bar market expanded remarkably to $X in 2021, surging by 10% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a deep slump. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Aluminium Bar Exports

Exports from the Philippines

In 2021, shipments abroad of aluminium bars, rods and profiles decreased by -28.7% to X tons, falling for the third year in a row after three years of growth. In general, exports saw a abrupt setback. The most prominent rate of growth was recorded in 2017 with an increase of 205% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, aluminium bar exports dropped dramatically to $X in 2021. Over the period under review, exports showed a abrupt shrinkage. The growth pace was the most rapid in 2017 when exports increased by 179% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Japan (X tons) was the main destination for aluminium bar exports from the Philippines, accounting for a 51% share of total exports. Moreover, aluminium bar exports to Japan exceeded the volume sent to the second major destination, the United States (X tons), fivefold. China (X tons) ranked third in terms of total exports with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Japan stood at -8.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+0.4% per year) and China (+8.5% per year).

In value terms, Japan ($X) emerged as the key foreign market for aluminium bars, rods and profiles exports from the Philippines, comprising 42% of total exports. The second position in the ranking was taken by the United States ($X), with a 15% share of total exports. It was followed by Australia, with a 7.6% share.

From 2012 to 2021, the average annual growth rate of value to Japan stood at -11.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-3.5% per year) and Australia (+43.6% per year).

Export Prices by Country

In 2021, the average aluminium bar export price amounted to $X per ton, growing by 5.3% against the previous year. In general, the export price, however, recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2019 when the average export price increased by 35% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Australia ($X per ton), while the average price for exports to South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+8.3%), while the prices for the other major destinations experienced mixed trend patterns.

Aluminium Bar Imports

Imports into the Philippines

For the third year in a row, the Philippines recorded decline in purchases abroad of aluminium bars, rods and profiles, which decreased by -6.3% to X tons in 2021. In general, imports showed a abrupt curtailment. The growth pace was the most rapid in 2014 with an increase of 40%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, aluminium bar imports rose rapidly to $X in 2021. Over the period under review, imports saw a deep slump. The most prominent rate of growth was recorded in 2018 when imports increased by 27%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest aluminium bar supplier to the Philippines, with a 66% share of total imports. Moreover, aluminium bar imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), ninefold. Japan (X tons) ranked third in terms of total imports with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+19.1% per year) and Japan (+6.6% per year).

In value terms, China ($X) constituted the largest supplier of aluminium bars, rods and profiles to the Philippines, comprising 53% of total imports. The second position in the ranking was held by Japan ($X), with a 13% share of total imports. It was followed by Thailand, with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled -8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+5.7% per year) and Thailand (+9.0% per year).

Import Prices by Country

In 2021, the average aluminium bar import price amounted to $X per ton, picking up by 16% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average import price increased by 17%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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