Philippines: Fluorspar Market 2024

Fluorspar Market Size in the Philippines

The Philippine fluorspar market totaled $X in 2021, increasing by 13% 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, the total consumption indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +65.5% against 2017 indices. Fluorspar consumption peaked in 2021 and is expected to retain growth in the near future.

Fluorspar Exports

Exports from the Philippines

In 2020, fluorspar exports from the Philippines totaled X kg, standing approx. at the previous year. In general, exports continue to indicate a sharp setback. The smallest decline of 99.9% was in 2016. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2020, the exports failed to regain momentum.

In value terms, fluorspar exports stood at $X in 2020. Overall, exports showed a sharp downturn. The smallest decline of 99.9% was in 2016. The exports peaked at $X in 2013; however, from 2014 to 2020, the exports remained at a lower figure.

Exports by Country

South Korea (X kg) was the main destination for fluorspar exports from the Philippines, accounting for a approx. 100% share of total exports.

From 2013 to 2020, the average annual rate of growth in terms of volume to South Korea was relatively modest.

From 2013 to 2020, the average annual growth rate of value to South Korea was relatively modest.

Export Prices by Country

The average fluorspar export price stood at $X per ton in 2020, therefore, remained relatively stable against the previous year. Overall, the export price posted a noticeable expansion. The most prominent rate of growth was recorded in 2016 a decrease of 99.9% against the previous year. Over the period under review, the average export prices attained the maximum in 2020 and is likely to continue growth in the near future.

As there is only one major export destination, the average price level is determined by prices for South Korea.

From 2013 to 2020, the rate of growth in terms of prices for Palau amounted to 0.0% per year.

Fluorspar Imports

Imports into the Philippines

Fluorspar imports into the Philippines fell slightly to X tons in 2021, therefore, remained relatively stable against the year before. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 31%. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, fluorspar imports skyrocketed to $X in 2021. In general, total imports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +86.2% against 2017 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 44%. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of fluorspar to the Philippines, accounting for a 70% share of total imports. Moreover, fluorspar imports from China exceeded the figures recorded by the second-largest supplier, Mexico (X tons), fivefold. India (X tons) ranked third in terms of total imports with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+5.8% per year) and India (+9.2% per year).

In value terms, China ($X) constituted the largest supplier of fluorspar to the Philippines, comprising 66% of total imports. The second position in the ranking was taken by Mexico ($X), with a 12% share of total imports. It was followed by Taiwan (Chinese), with an 11% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+6.5% per year) and Taiwan (Chinese) (+4.3% per year).

Import Prices by Country

In 2021, the average fluorspar import price amounted to $X per ton, surging by 18% against the previous year. Overall, import price indicated a pronounced increase from 2012 to 2021: its price increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fluorspar import price increased by +64.3% against 2016 indices. The most prominent rate of growth was recorded in 2015 an increase of 18% against the previous year. The import price peaked in 2021 and is likely to see gradual growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+17.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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