Philippines: Bentonite Market 2024

Bentonite Market Size in the Philippines

In 2022, the Philippine bentonite market increased by 60% to $X, rising for the fourth consecutive year after three years of decline. Overall, consumption saw a prominent increase. Bentonite consumption peaked in 2022 and is expected to retain growth in the immediate term.

Bentonite Production in the Philippines

In value terms, bentonite production reduced to $X in 2022 estimated in export price. Over the period under review, production faced a abrupt decline. The most prominent rate of growth was recorded in 2016 with an increase of 9.4% against the previous year. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Bentonite Exports

Exports from the Philippines

In 2022, overseas shipments of bentonite decreased by -99.9% to X kg, falling for the second year in a row after three years of growth. Over the period under review, exports showed a dramatic decrease. The pace of growth appeared the most rapid in 2015 with an increase of 198%. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, bentonite exports contracted remarkably to $X in 2022. In general, exports faced a dramatic descent. The most prominent rate of growth was recorded in 2015 with an increase of 193% against the previous year. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Singapore (X kg) was the main destination for bentonite exports from the Philippines, with a 100% share of total exports. Moreover, bentonite exports to Singapore exceeded the volume sent to the second major destination, India (X kg), more than tenfold. The third position in this ranking was taken by Indonesia (X kg), with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Singapore totaled -45.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (0.0% per year) and Indonesia (-53.7% per year).

In value terms, Singapore ($X) remains the key foreign market for bentonite exports from the Philippines, comprising 74% of total exports. The second position in the ranking was held by Indonesia ($X), with a 12% share of total exports. It was followed by China, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Singapore amounted to -27.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-24.1% per year) and China (+9.5% per year).

Export Prices by Country

In 2022, the average bentonite export price amounted to $X per ton, jumping by 6,622% against the previous year. Overall, the export price recorded significant growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to South Korea ($X 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 Indonesia (+170.2%), while the prices for the other major destinations experienced more modest paces of growth.

Bentonite Imports

Imports into the Philippines

For the fourth consecutive year, the Philippines recorded growth in overseas purchases of bentonite, which increased by 54% to X tons in 2022. In general, imports posted a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 91%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, bentonite imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate a significant increase. The growth pace was the most rapid in 2021 when imports increased by 110%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest bentonite supplier to the Philippines, accounting for a 67% share of total imports. Moreover, bentonite imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. The third position in this ranking was held by Brazil (X tons), with a 2.7% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +58.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+11.0% per year) and Brazil (+78.6% per year).

In value terms, China ($X) constituted the largest supplier of bentonite to the Philippines, comprising 61% of total imports. The second position in the ranking was held by India ($X), with a 15% share of total imports. It was followed by Brazil, with a 2.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +45.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+12.0% per year) and Brazil (+48.8% per year).

Import Prices by Country

In 2022, the average bentonite import price amounted to $X per ton, increasing by 6.4% against the previous year. Over the period under review, the import price, however, saw a perceptible decrease. The most prominent rate of growth was recorded in 2021 an increase of 10% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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