Philippines: Fuse And Detonator Market 2024

Fuse And Detonator Market Size in the Philippines

In 2021, the Philippine fuse and detonator market decreased by -5.4% to $X, falling for the third year in a row after two years of growth. In general, consumption, however, showed prominent growth. Fuse and detonator consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Fuse And Detonator Production in the Philippines

In value terms, fuse and detonator production reached $X in 2021 estimated in export price. In general, production enjoyed a significant expansion. The most prominent rate of growth was recorded in 2013 when the production volume increased by 281% against the previous year. Fuse and detonator production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Fuse And Detonator Exports

Exports from the Philippines

In 2021, fuse and detonator exports from the Philippines soared to X tons, increasing by 6,813% against the previous year's figure. In general, exports recorded a significant increase. The pace of growth was the most pronounced in 2013 when exports increased by 136,300% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, fuse and detonator exports surged to $X in 2021. Overall, exports recorded a significant increase. The growth pace was the most rapid in 2013 with an increase of 27,573% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Australia (X tons), Indonesia (X tons) and Thailand (X tons) were the main destinations of fuse and detonator exports from the Philippines, with a combined 90% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Indonesia (with a CAGR of +82.9%), while the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Thailand ($X) and Australia ($X) constituted the largest markets for fuse and detonator exported from the Philippines worldwide, with a combined 83% share of total exports.

Among the main countries of destination, Indonesia, with a CAGR of +93.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average fuse and detonator export price stood at $X per ton in 2021, with a decrease of -23.7% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 980%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, 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, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Australia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+5.9%).

Fuse And Detonator Imports

Imports into the Philippines

After four years of decline, purchases abroad of safety fuses, detonating fuses and electric detonators increased by 22% to X tons in 2021. Over the period under review, imports, however, recorded a noticeable descent. The growth pace was the most rapid in 2016 with an increase of 80%. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, fuse and detonator imports soared to $X in 2021. Overall, imports, however, continue to indicate a perceptible decline. The most prominent rate of growth was recorded in 2016 when imports increased by 32% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Australia (X tons), India (X tons) and Spain (X tons) were the main suppliers of fuse and detonator imports to the Philippines, with a combined 86% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +84.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constituted the largest supplier of safety fuses, detonating fuses and electric detonators to the Philippines, comprising 36% of total imports. The second position in the ranking was taken by Australia ($X), with a 16% share of total imports. It was followed by China, with a 15% share.

From 2012 to 2021, the average annual growth rate of value from India stood at +31.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (-7.5% per year) and China (-9.9% per year).

Import Prices by Country

The average fuse and detonator import price stood at $X per ton in 2021, rising by 6.5% against the previous year. Over the period under review, import price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fuse and detonator import price increased by +21.0% against 2018 indices. The growth pace was the most rapid in 2019 when the average import price increased by 32% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

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 ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+27.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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