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Report Philippines - Rare Earth Metals - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Nov 1, 2024

Philippines - Rare Earth Metals - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Rare Earth Metal Market 2024

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

Frequently Asked Questions (FAQ) :

China constituted the country with the largest volume of rare earth metal consumption, accounting for 49% of total volume. Moreover, rare earth metal consumption in China exceeded the figures recorded by the second-largest consumer, the United States, fourfold. Malaysia ranked third in terms of total consumption with a 12% share.
China constituted the country with the largest volume of rare earth metal production, comprising approx. 59% of total volume. Moreover, rare earth metal production in China exceeded the figures recorded by the second-largest producer, the United States, fivefold. The third position in this ranking was occupied by Myanmar, with a 12% share.
In value terms, the largest rare earth metal suppliers to the Philippines were Japan, China and the United States $883), together comprising 81% of total imports.
In value terms, China remains the key foreign market for rare earth metal exports from the Philippines, comprising 93% of total exports. The second position in the ranking was occupied by Japan, with a 7.2% share of total exports.
In 2021, the average rare earth metal export price amounted to $12,240 per ton, falling by -9.5% against the previous year.
In 2021, the average rare earth metal import price amounted to $10,940 per ton, rising by 21% against the previous year.

This report provides an in-depth analysis of the rare earth metal 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:

    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:

    1. How to diversify your business and benefit from new market opportunities
    2. How to load your idle production capacity
    3. How to boost your sales on overseas markets
    4. How to increase your profit margins
    5. How to make your supply chain more sustainable
    6. How to reduce your production and supply chain costs
    7. How to outsource production to other countries
    8. 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. 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. 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. 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. 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. 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. 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. 7. PRODUCTION

      The Latest Trends and Insights into The Industry

      1. PRODUCTION VOLUME AND VALUE

    8. 8. IMPORTS

      The Largest Import Supplying Countries

      1. IMPORTS FROM 2012–2023
      2. IMPORTS BY COUNTRY
      3. IMPORT PRICES BY COUNTRY

    9. 9. EXPORTS

      The Largest Destinations for Exports

      1. EXPORTS FROM 2012–2023
      2. EXPORTS BY COUNTRY
      3. EXPORT PRICES BY COUNTRY

    10. 10. PROFILES OF MAJOR PRODUCERS

      The Largest Producers on The Market and Their Profiles

      This Chapter is Available Only for the Professional Edition PRO

    11. 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

    12. 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

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