Philippines: Copper Chain Market 2025

Copper Chain Market Size in the Philippines

The Philippine copper chain market dropped notably to $X in 2022, waning by -55.8% 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). Overall, consumption, however, recorded a perceptible expansion. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Copper Chain Exports

Exports from the Philippines

In 2019, shipments abroad of chain and parts thereof of copper increased by 4.3% to X kg, rising for the second consecutive year after two years of decline. Over the period under review, exports recorded a prominent increase. The growth pace was the most rapid in 2015 with an increase of 1,917% against the previous year. As a result, the exports attained the peak of X kg. From 2016 to 2019, the growth of the exports remained at a somewhat lower figure.

In value terms, copper chain exports skyrocketed to $X in 2019. In general, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 1,588% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2019, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X kg), Canada (X kg) and Hong Kong SAR (X kg) were the main destinations of copper chain exports from the Philippines, with a combined 96% share of total exports.

From 2014 to 2019, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +34.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for copper chain exported from the Philippines were Hong Kong SAR ($X), the United States ($X) and Canada ($X), together comprising 99% of total exports.

Hong Kong SAR, with a CAGR of +45.2%, saw the highest rates of growth with regard to the value of exports, in terms of 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

The average copper chain export price stood at $X per ton in 2019, rising by 54% against the previous year. Overall, the export price recorded a buoyant expansion. The most prominent rate of growth was recorded in 2016 an increase of 190% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2019, the average export prices remained at a somewhat lower figure.

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

From 2014 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Palau (+24.6%), while the prices for the other major destinations experienced more modest paces of growth.

Copper Chain Imports

Imports into the Philippines

In 2022, the amount of chain and parts thereof of copper imported into the Philippines fell notably to X tons, waning by -58.9% on 2021 figures. Overall, imports, however, recorded mild growth. The growth pace was the most rapid in 2016 when imports increased by 289%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, copper chain imports fell dramatically to $X in 2022. In general, imports, however, enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2016 when imports increased by 422% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Hong Kong SAR (X tons), China (X tons) and the United States (X kg) were the main suppliers of copper chain imports to the Philippines, with a combined 89% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hong Kong SAR (with a CAGR of +29.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X) constituted the largest supplier of chain and parts thereof of copper to the Philippines, comprising 67% of total imports. The second position in the ranking was taken by China ($X), with a 12% share of total imports. It was followed by the United States, with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Hong Kong SAR totaled +46.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+19.2% per year) and the United States (-4.0% per year).

Import Prices by Country

The average copper chain import price stood at $X per ton in 2022, picking up by 14% against the previous year. Overall, the import price showed a buoyant increase. The most prominent rate of growth was recorded in 2019 an increase of 105% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: 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 Indonesia (+213.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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