Philippines: Rare Earth Metal Market 2025

Rare Earth Metal Market Size in the Philippines

The Philippine rare earth metal market contracted slightly to $X in 2021, approximately reflecting the previous year. Overall, consumption recorded a noticeable decrease. Rare earth metal consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Rare Earth Metal Production in the Philippines

In value terms, rare earth metal production fell modestly to $X in 2021 estimated in export price. Over the period under review, production recorded a slight downturn. The growth pace was the most rapid in 2018 with an increase of 4.2% against the previous year. Rare earth metal production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Rare Earth Metal Exports

Exports from the Philippines

In 2021, approx. X kg of rare earth metals were exported from the Philippines; increasing by 150% compared with 2020 figures. Over the period under review, exports, however, showed a significant decline. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, rare earth metal exports soared to $X in 2021. In general, exports, however, saw a dramatic contraction. The most prominent rate of growth was recorded in 2019 when exports increased by 447%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X kg) was the main destination for rare earth metal exports from the Philippines, accounting for a approx. 100% share of total exports.

From 2013 to 2021, the average annual rate of growth in terms of volume to Japan totaled -73.9%.

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

From 2013 to 2021, the average annual rate of growth in terms of value to Japan stood at -78.0%.

Export Prices by Country

The average rare earth metal export price stood at $X per ton in 2021, increasing by 80% against the previous year. Overall, the export price, however, faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 an increase of 5,231% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 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 2013 to 2021, the rate of growth in terms of prices for Japan amounted to -15.6% per year.

Rare Earth Metal Imports

Imports into the Philippines

Rare earth metal imports into the Philippines fell rapidly to X kg in 2021, waning by -99.3% compared with 2020 figures. Over the period under review, imports recorded a dramatic decline. The growth pace was the most rapid in 2016 with an increase of 138,063%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, rare earth metal imports contracted significantly to $X in 2021. Overall, imports saw a precipitous setback. The most prominent rate of growth was recorded in 2014 with an increase of 16,293%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X kg) was the main supplier of rare earth metal to the Philippines, with a 97% share of total imports. Moreover, rare earth metal imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X kg), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -54.7%.

In value terms, China ($X) constituted the largest supplier of rare earth metals to the Philippines, comprising 34% of total imports. The second position in the ranking was held by the United States ($X), with a 13% share of total imports. It was followed by Japan, with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to -7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-53.8% per year) and Japan (+2.9% per year).

Import Prices by Country

The average rare earth metal import price stood at $X per ton in 2021, with an increase of 4,386% against the previous year. Over the period under review, the import price posted significant growth. The most prominent rate of growth was recorded in 2018 an increase of 22,286%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+5,601.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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