Philippines: Market for Manganites, Manganates And Permanganates, Molybdates And Tungstates 2024

Market Size for Manganites, Manganates And Permanganates, Molybdates And Tungstates in the Philippines

In 2021, the Philippine market for manganites, manganates and permanganates, molybdates and tungstates increased by 27% to $X, rising for the second consecutive year after two years of decline. In general, the total consumption indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +129.8% against 2019 indices. Over the period under review, the market reached the maximum level in 2021 and is likely to see gradual growth in the immediate term.

Production of Manganites, Manganates And Permanganates, Molybdates And Tungstates in the Philippines

In value terms, manganites, manganates, molybdates and tungstates production amounted to $X in 2021 estimated in export price. Overall, the total production indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -7.1% against 2019 indices. The growth pace was the most rapid in 2018 with an increase of 18% against the previous year. Manganites, manganates, molybdates and tungstates production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Manganites, Manganates And Permanganates, Molybdates And Tungstates

Exports from the Philippines

In 2021, overseas shipments of manganites, manganates and permanganates, molybdates and tungstates decreased by -66.8% to X tons, falling for the second consecutive year after four years of growth. Over the period under review, exports, however, showed a significant increase. The growth pace was the most rapid in 2018 with an increase of 1,906% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, manganites, manganates, molybdates and tungstates exports dropped dramatically to $X in 2021. In general, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 1,283%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for manganites, manganates, molybdates and tungstates exports from the Philippines, accounting for a 84% share of total exports. Moreover, manganites, manganates, molybdates and tungstates exports to China exceeded the volume sent to the second major destination, the United States (X tons), tenfold.

From 2014 to 2021, the average annual growth rate of volume to China totaled +196.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+160.1% per year) and Vietnam (-5.9% per year).

In value terms, China ($X) remains the key foreign market for manganites, manganates and permanganates, molybdates and tungstates exports from the Philippines, comprising 81% of total exports. The second position in the ranking was taken by the United States ($X), with an 11% share of total exports.

From 2014 to 2021, the average annual rate of growth in terms of value to China amounted to +181.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+83.9% per year) and Vietnam (-49.5% per year).

Export Prices by Country

In 2021, the average export price for manganites, manganates and permanganates, molybdates and tungstates amounted to $X per ton, falling by -19.2% against the previous year. In general, the export price recorded a deep reduction. The pace of growth appeared the most rapid in 2020 a decrease of -3.6% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2014 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (-5.2%), while the prices for the other major destinations experienced a decline.

Imports of Manganites, Manganates And Permanganates, Molybdates And Tungstates

Imports into the Philippines

Manganites, manganates, molybdates and tungstates imports into the Philippines dropped significantly to X tons in 2021, with a decrease of -37.4% compared with 2020. In general, imports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2017 when imports increased by 148% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, manganites, manganates, molybdates and tungstates imports fell sharply to $X in 2021. Over the period under review, imports, however, continue to indicate strong growth. The growth pace was the most rapid in 2015 when imports increased by 180%. Imports peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest manganites, manganates, molybdates and tungstates supplier to the Philippines, with a 60% share of total imports. Moreover, manganites, manganates, molybdates and tungstates imports from China exceeded the figures recorded by the second-largest supplier, Spain (X tons), threefold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 7.6% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +19.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+33.8% per year) and Taiwan (Chinese) (+28.0% per year).

In value terms, China ($X), Spain ($X) and South Korea ($X) were the largest manganites, manganates, molybdates and tungstates suppliers to the Philippines, together accounting for 77% of total imports.

Among the main suppliers, Spain, with a CAGR of +30.5%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for manganites, manganates and permanganates, molybdates and tungstates amounted to $X per ton, approximately equating the previous year. Overall, the import price saw a perceptible descent. The pace of growth appeared the most rapid in 2016 an increase of 27% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+9.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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