Philippines: Silica Sand Market 2024

Silica Sand Market Size in the Philippines

The Philippine silica sand market declined rapidly to $X in 2022, with a decrease of -35.4% against the previous year. Over the period under review, consumption, however, enjoyed resilient growth. Over the period under review, the market reached the peak level at $X in 2021, and then shrank significantly in the following year.

Silica Sand Production in the Philippines

In value terms, silica sand production declined slightly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +8.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +25.5% against 2018 indices. The pace of growth was the most pronounced in 2013 with an increase of 65% against the previous year. Silica sand production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Silica Sand Exports

Exports from the Philippines

In 2022, overseas shipments of silica sands (quartz sands or industrial sands) decreased by -5.3% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, saw a notable expansion. The most prominent rate of growth was recorded in 2020 with an increase of 1,095% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2021, and then contracted in the following year.

In value terms, silica sand exports contracted dramatically to $X in 2022. Over the period under review, exports recorded a dramatic downturn. The pace of growth appeared the most rapid in 2020 when exports increased by 868% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then contracted remarkably in the following year.

Exports by Country

China (X tons) was the main destination for silica sand exports from the Philippines, with a 77% share of total exports. Moreover, silica sand exports to China exceeded the volume sent to the second major destination, Japan (X tons), sixfold.

From 2012 to 2022, the average annual growth rate of volume to China amounted to +456.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+421.9% per year) and Thailand (+502.1% per year).

In value terms, Thailand ($X), China ($X) and Japan ($X) constituted the largest markets for silica sand exported from the Philippines worldwide, together accounting for 96% of total exports.

Thailand, with a CAGR of +212.9%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average silica sand export price stood at $X per ton in 2022, reducing by -98.1% against the previous year. Overall, the export price recorded a sharp setback. The pace of growth was the most pronounced in 2019 an increase of 45%. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (-37.4%), while the prices for the other major destinations experienced a decline.

Silica Sand Imports

Imports into the Philippines

In 2022, after four years of growth, there was significant decline in purchases abroad of silica sands (quartz sands or industrial sands), when their volume decreased by -63.6% to X tons. Over the period under review, imports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 253%. Over the period under review, imports hit record highs at X tons in 2021, and then dropped significantly in the following year.

In value terms, silica sand imports fell remarkably to $X in 2022. In general, imports, however, continue to indicate significant growth. The pace of growth appeared the most rapid in 2015 with an increase of 96% against the previous year. Imports peaked at $X in 2021, and then declined remarkably in the following year.

Imports by Country

In 2022, Australia (X tons) constituted the largest supplier of silica sand to the Philippines, with a 59% share of total imports. Moreover, silica sand imports from Australia exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was taken by Vietnam (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Australia amounted to +52.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+78.8% per year) and Vietnam (+13.6% per year).

In value terms, China ($X), Australia ($X) and Malaysia ($X) were the largest silica sand suppliers to the Philippines, with a combined 88% share of total imports.

China, with a CAGR of +81.3%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average silica sand import price amounted to $X per ton, surging by 79% against the previous year. In general, the import price, however, continues to indicate a deep downturn. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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