Report Update Nov 1, 2024

Philippines - Silver Ores and Concentrates - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Silver Ore Market 2024

Silver Ore Market Size in the Philippines

After six years of growth, the Philippine silver ore market decreased by -1.9% to $X in 2021. Over the period under review, consumption saw a pronounced shrinkage. Silver ore consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Silver Ore Production in the Philippines

In value terms, silver ore production contracted to $X in 2021 estimated in export price. Over the period under review, production showed a abrupt contraction. The most prominent rate of growth was recorded in 2016 with an increase of 38%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Silver Ore Exports

Exports from the Philippines

Silver ore exports from the Philippines totaled X kg in 2021, approximately equating 2020. In general, exports faced a dramatic descent. The pace of growth appeared the most rapid in 2015 when exports increased by 581% against the previous year. As a result, the exports reached the peak of X kg. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, silver ore exports amounted to $X in 2021. Over the period under review, exports showed a dramatic setback. The most prominent rate of growth was recorded in 2018 with an increase of 9.6% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

China (X kg) and Japan (X kg) were the main destinations of silver ore exports from the Philippines. Moreover, silver ore exports in China exceeded the figures recorded by the second-largest exporter, Japan, twofold.

From 2012 to 2021, the biggest increases were in China (with a CAGR of -16.4%).

In value terms, China ($X), Japan ($X) and South Korea ($X) appeared to be the largest markets for silver ore exported from the Philippines worldwide, together comprising 99.9% of total exports.

China, with a CAGR of +14.0%, 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 a decline.

Export Prices by Country

The average silver ore export price stood at $X per kg in 2021, increasing by 15% against the previous year. In general, the export price saw significant growth. The growth pace was the most rapid in 2016 an increase of 894%. The export price peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was South Korea ($X per kg), while the average price for exports to China ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+69.6%), while the prices for the other major destinations experienced more modest paces of growth.

Silver Ore Imports

Imports into the Philippines

In 2021, purchases abroad of silver ores and concentrates decreased by -14% to X kg, falling for the second consecutive year after two years of growth. Overall, imports continue to indicate a dramatic setback. The growth pace was the most rapid in 2018 with an increase of 96% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, silver ore imports contracted significantly to $X in 2021. Over the period under review, imports showed a precipitous setback. The most prominent rate of growth was recorded in 2013 with an increase of 37% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, the United States (X kg) was the main silver ore supplier to the Philippines, with a approx. 100% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States amounted to -35.3%.

In value terms, the United States ($X) constituted the largest supplier of silver ore to the Philippines.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled -40.7%.

Import Prices by Country

In 2021, the average silver ore import price amounted to $X per ton, dropping by -6.8% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average import price increased by 184%. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to -8.3% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for silver ores and concentrates in the world?

The country with the largest volume of silver ore consumption was China, comprising approx. 79% of total volume. Moreover, silver ore consumption in China exceeded the figures recorded by the second-largest consumer, Russia, more than tenfold. Peru ranked third in terms of total consumption with a 2.9% share.

What are the largest producers of silver ores and concentrates in the world?

Peru remains the largest silver ore producing country worldwide, comprising approx. 46% of total volume. Moreover, silver ore production in Peru exceeded the figures recorded by the second-largest producer, Russia, threefold. The third position in this ranking was occupied by South Africa, with a 12% share.

What are the leading suppliers of silver ores and concentrates to the Philippines?

In value terms, the United States constituted the largest supplier of silver ore to the Philippines.

What are the leading importers of silver ores and concentrates from the Philippines?

In value terms, the largest markets for silver ore exported from the Philippines were Japan and China.

What is the average export price for silver ores and concentrates in the Philippines?

The average silver ore export price stood at $12,391 per kg in 2021, growing by 23% against the previous year.

What is the average import price for silver ores and concentrates in the Philippines?

The average silver ore import price stood at $172,751 per ton in 2021, declining by -6.1% against the previous year.

This report provides an in-depth analysis of the silver ore 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:

Prodcom 07291410 -

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:

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

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
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
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