Report Update Nov 1, 2024

Philippines - Ferro-Chromium - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Ferro-Chromium Market 2024

Ferro-Chromium Market Size in the Philippines

The Philippine ferro-chromium market surged to $X in 2022, jumping by 36% 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, posted measured growth. Ferro-chromium consumption peaked in 2022 and is expected to retain growth in years to come.

Ferro-Chromium Exports

Exports from the Philippines

In 2022, overseas shipments of ferro-chromium decreased by -43.7% to X tons, falling for the second year in a row after seven years of growth. Overall, exports recorded a abrupt decline. The most prominent rate of growth was recorded in 2016 with an increase of 0.8%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, ferro-chromium exports soared to $X in 2022. In general, exports saw a deep slump. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for ferro-chromium exports from the Philippines, accounting for a 95% share of total exports. Moreover, ferro-chromium exports to China exceeded the volume sent to the second major destination, India (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to China amounted to -18.5%.

In value terms, China ($X) remains the key foreign market for ferro-chromium exports from the Philippines, comprising 73% of total exports. The second position in the ranking was held by India ($X), with a 27% share of total exports.

From 2012 to 2022, the average annual growth rate of value to China amounted to +2.6%.

Export Prices by Country

In 2022, the average ferro-chromium export price amounted to $X per ton, increasing by 474% against the previous year. Overall, the export price enjoyed a prominent expansion. 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 export markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+25.9%).

Ferro-Chromium Imports

Imports into the Philippines

In 2022, the amount of ferro-chromium imported into the Philippines reduced to X tons, declining by -12.8% on the year before. Overall, imports showed a pronounced setback. The pace of growth was the most pronounced in 2014 with an increase of 88% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, ferro-chromium imports skyrocketed to $X in 2022. In general, imports, however, continue to indicate prominent growth. The growth pace was the most rapid in 2014 when imports increased by 92%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Sweden (X tons), India (X tons) and Switzerland (X tons) were the main suppliers of ferro-chromium imports to the Philippines, together accounting for 46% of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +34.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), Belgium ($X) and South Korea ($X) appeared to be the largest ferro-chromium suppliers to the Philippines, with a combined 36% share of total imports. India, Switzerland, China, Russia, Taiwan (Chinese) and Singapore lagged somewhat behind, together accounting for a further 29%.

India, with a CAGR of +48.4%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average ferro-chromium import price stood at $X per ton in 2022, with an increase of 104% against the previous year. Overall, the import price showed strong growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+25.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for ferro-chromium in the world?

The country with the largest volume of ferro-chromium consumption was China, accounting for 55% of total volume. Moreover, ferro-chromium consumption in China exceeded the figures recorded by the second-largest consumer, Indonesia, fivefold. The United States ranked third in terms of total consumption with a 5.9% share.

What are the largest producers of ferro-chromium in the world?

The countries with the highest volumes of in 2021 were China, South Africa and Kazakhstan, together accounting for 74% of global production. These countries were followed by India, Finland, Russia and the United States, which together accounted for a further 18%.

What are the leading suppliers of ferro-chromium to the Philippines?

In value terms, South Korea, Sweden and Belgium appeared to be the largest ferro-chromium suppliers to the Philippines, together accounting for 54% of total imports.

What are the leading importers of ferro-chromium from the Philippines?

In value terms, China remains the key foreign market for ferro-chromium exports from the Philippines.

What is the average export price for ferro-chromium in the Philippines?

The average ferro-chromium export price stood at $719 per ton in 2020, jumping by 35% against the previous year.

What is the average import price for ferro-chromium in the Philippines?

In 2020, the average ferro-chromium import price amounted to $2,863 per ton, rising by 8.8% against the previous year.

This report provides an in-depth analysis of the ferro-chromium market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Country coverage:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023