Report Update Nov 1, 2024

Philippines - Copper - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Copper Market 2024

Copper Market Size in the Philippines

The Philippine copper market dropped to $X in 2022, with a decrease of -5.2% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. Copper consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Copper Production in the Philippines

In value terms, copper production rose to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a significant increase. The pace of growth appeared the most rapid in 2013 when the production volume increased by 8,186% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Copper Exports

Exports from the Philippines

In 2022, overseas shipments of copper increased by 16,913% to X tons, rising for the second year in a row after three years of decline. Overall, exports saw a significant increase. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, copper exports skyrocketed to $X in 2022. In general, exports continue to indicate a significant increase. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Australia (X tons) was the main destination for copper exports from the Philippines, with a 100% share of total exports. It was followed by South Korea (X tons), with a 0.4% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Australia amounted to -11.7%.

In value terms, Australia ($X) emerged as the key foreign market for copper exports from the Philippines, comprising 100% of total exports. The second position in the ranking was held by South Korea ($X), with a 0.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Australia stood at -11.2%.

Export Prices by Country

In 2022, the average copper export price amounted to $X per ton, with an increase of 52% against the previous year. Over the period under review, the export price, however, saw a pronounced descent. The pace of growth appeared the most rapid in 2014 when the average export price increased by 84% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 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 Australia ($X per ton), while the average price for exports to South Korea amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+37.7%), while the prices for the other major destinations experienced mixed trend patterns.

Copper Imports

Imports into the Philippines

For the fourth consecutive year, the Philippines recorded decline in supplies from abroad of copper, which decreased by -6.7% to X tons in 2022. In general, imports recorded a deep slump. The pace of growth was the most pronounced in 2013 when imports increased by 1,676% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, copper imports declined to $X in 2022. Over the period under review, imports recorded a abrupt curtailment. The pace of growth was the most pronounced in 2013 with an increase of 1,470%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United States (X tons), China (X tons) and South Korea (X tons) were the main suppliers of copper imports to the Philippines, together comprising 93% of total imports. Taiwan (Chinese) lagged somewhat behind, accounting for a further 5.3%.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +2.8%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) constituted the largest supplier of copper to the Philippines, comprising 55% of total imports. The second position in the ranking was held by China ($X), with a 22% share of total imports. It was followed by South Korea, with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+1.4% per year) and South Korea (-24.8% per year).

Import Prices by Country

In 2022, the average copper import price amounted to $X per ton, dropping by -3.3% against the previous year. In general, the import price, however, continues to indicate a modest expansion. The growth pace was the most rapid in 2017 an increase of 71%. The import price peaked at $X per ton in 2021, and then fell modestly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for copper in the world?

Chile constituted the country with the largest volume of copper consumption, comprising approx. 25% of total volume. Moreover, copper consumption in Chile exceeded the figures recorded by the second-largest consumer, China, twofold. Peru ranked third in terms of total consumption with an 11% share.

What are the largest producers of copper in the world?

The country with the largest volume of copper production was Chile, comprising approx. 27% of total volume. Moreover, copper production in Chile exceeded the figures recorded by the second-largest producer, Peru, twofold. The third position in this ranking was occupied by China, with an 8% share.

What are the leading suppliers of copper to the Philippines?

In value terms, Taiwan Chinese) constituted the largest supplier of copper to the Philippines, comprising 39% of total imports. The second position in the ranking was occupied by the United States, with a 20% share of total imports. It was followed by China, with a 15% share.

What are the leading importers of copper from the Philippines?

In value terms, South Korea remains the key foreign market for copper exports from the Philippines.

What is the average export price for copper in the Philippines?

The average copper export price stood at $6,497 per ton in 2021, almost unchanged from the previous year.

What is the average import price for copper in the Philippines?

The average copper import price stood at $10,023 per ton in 2021, surging by 22% against the previous year.

This report provides an in-depth analysis of the copper 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 24441200 - Unrefined copper, copper anodes for electrolytic refining (including blister copper) (excluding electrocopper-plating, e lectroplating anodes)

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