Philippines: Industrial Diamonds Market 2022

Industrial Diamonds Market Size in the Philippines

The Philippine industrial diamonds market skyrocketed to $X in 2021, surging by X% 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 showed a strong increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Industrial Diamonds Exports

Exports from the Philippines

Industrial diamonds exports from the Philippines declined slightly to X tons in 2021, waning by -X% on the previous year. In general, exports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, industrial diamonds exports fell to $X in 2021. Overall, exports faced a abrupt shrinkage. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for industrial diamonds exports from the Philippines, with a X% share of total exports. Moreover, industrial diamonds exports to the United States exceeded the volume sent to the second major destination, Indonesia (X kg), tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X% per year) and Taiwan (Chinese) (-X% per year).

In value terms, the United States ($X) remains the key foreign market for industrial diamonds exports from the Philippines, comprising X% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a X% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (-X% per year) and Indonesia (X% per year).

Export Prices by Country

The average industrial diamonds export price stood at $X per kg in 2021, falling by -X% against the previous year. Overall, the export price recorded a deep reduction. The growth pace was the most rapid in 2016 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per kg. From 2017 to 2021, the the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Taiwan (Chinese) ($X per kg), while the average price for exports to Indonesia (less than $X per kg) was amongst the lowest.

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

Industrial Diamonds Imports

Imports into the Philippines

In 2021, the amount of industrial diamonds, dust and powder of precious or semi-precious stones imported into the Philippines soared to X tons, with an increase of X% on the previous year's figure. In general, imports showed a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, industrial diamonds imports surged to $X in 2021. Over the period under review, imports, however, recorded a pronounced decline. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest industrial diamonds supplier to the Philippines, with a X% share of total imports. Moreover, industrial diamonds imports from Germany exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. The United States (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2021, the average annual growth rate of volume from Germany totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+X% per year) and the United States (-X% per year).

In value terms, Japan ($X) constituted the largest supplier of industrial diamonds to the Philippines, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with a X% share of total imports. It was followed by the United States, with an X% share.

From 2012 to 2021, the average annual growth rate of value from Japan amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+X% per year) and the United States (-X% per year).

Import Prices by Country

In 2021, the average industrial diamonds import price amounted to $X per kg, with a decrease of -X% against the previous year. Overall, the import price saw a deep contraction. The most prominent rate of growth was recorded in 2016 an increase of X%. The import price peaked at $X per kg in 2018; however, from 2019 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 kg), while the price for Germany (less than $X per kg) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :