Report Update Nov 1, 2024

Philippines - Magnesite - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Magnesite Market 2024

Magnesite Market Size in the Philippines

After two years of growth, the Philippine magnesite market decreased by -74.7% to $X in 2021. Overall, consumption, however, enjoyed a moderate increase. As a result, consumption reached the peak level of $X, and then reduced rapidly in the following year.

Magnesite Production in the Philippines

In value terms, magnesite production fell slightly to $X in 2021 estimated in export price. In general, the total production indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +9.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +123.9% against 2012 indices. The most prominent rate of growth was recorded in 2013 with an increase of 25% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then contracted in the following year.

Magnesite Exports

Exports from the Philippines

For the third consecutive year, the Philippines recorded decline in shipments abroad of magnesite, which decreased by -22.1% to X tons in 2021. Overall, exports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2013 when exports increased by 308% against the previous year. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, magnesite exports shrank significantly to $X in 2021. Over the period under review, exports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2013 with an increase of 360% against the previous year. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons) was the main destination for magnesite exports from the Philippines, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Japan stood at +14.2%.

In value terms, Japan ($X) also remains the key foreign market for magnesite exports from the Philippines.

From 2012 to 2021, the average annual rate of growth in terms of value to Japan stood at +10.6%.

Export Prices by Country

In 2021, the average magnesite export price amounted to $X per ton, which is down by -5.1% against the previous year. Overall, the export price recorded a perceptible contraction. The most prominent rate of growth was recorded in 2017 when the average export price increased by 26%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for Singapore amounted to +1,296.2% per year.

Magnesite Imports

Imports into the Philippines

In 2021, overseas purchases of magnesite decreased by -57.2% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, imports, however, enjoyed a significant expansion. The growth pace was the most rapid in 2016 with an increase of 953% against the previous year. Imports peaked at X tons in 2020, and then contracted dramatically in the following year.

In value terms, magnesite imports dropped dramatically to $X in 2021. Overall, imports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2016 when imports increased by 595% against the previous year. Imports peaked at $X in 2020, and then shrank notably in the following year.

Imports by Country

In 2021, China (X tons) was the main magnesite supplier to the Philippines, with a approx. 99% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +73.4%.

In value terms, China ($X) constituted the largest supplier of magnesite to the Philippines.

From 2012 to 2021, the average annual growth rate of value from China amounted to +48.2%.

Import Prices by Country

The average magnesite import price stood at $X per ton in 2021, remaining relatively unchanged against the previous year. Overall, the import price, however, continues to indicate a deep reduction. The pace of growth was the most pronounced in 2013 an increase of 69%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to -14.5% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for magnesite in the world?

The country with the largest volume of magnesite consumption was China, accounting for 37% of total volume. Moreover, magnesite consumption in China exceeded the figures recorded by the second-largest consumer, India, fivefold. The United Arab Emirates ranked third in terms of total consumption with a 6.2% share.

What are the largest producers of magnesite in the world?

China constituted the country with the largest volume of magnesite production, accounting for 57% of total volume. Moreover, magnesite production in China exceeded the figures recorded by the second-largest producer, Turkey, fivefold. Spain ranked third in terms of total production with a 7.3% share.

What are the leading suppliers of magnesite to the Philippines?

In value terms, China constituted the largest supplier of magnesite to the Philippines.

What are the leading importers of magnesite from the Philippines?

In value terms, Japan remains the key foreign market for magnesite exports from the Philippines.

What is the average export price for magnesite in the Philippines?

The average magnesite export price stood at $134 per ton in 2020, waning by -11.8% against the previous year.

What is the average import price for magnesite in the Philippines?

In 2020, the average magnesite import price amounted to $200 per ton, with a decrease of -8.1% against the previous year.

This report provides an in-depth analysis of the magnesite 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:

UNCode 16390-1 - Magnesite

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