Price for Silicates; Commercial Alkali Metal Silicates in the Philippines - 2023
Contents:
- Price for Silicates; Commercial Alkali Metal Silicates in the Philippines (CIF) - 2023
- Price for Silicates; Commercial Alkali Metal Silicates in the Philippines (FOB) - 2022
- Imports of Silicates; Commercial Alkali Metal Silicates in the Philippines
- Exports of Silicates; Commercial Alkali Metal Silicates in the Philippines
Price for Silicates; Commercial Alkali Metal Silicates in the Philippines (CIF) - 2023
The average import price for silicates; commercial alkali metal silicateses stood at $507 per ton in July 2023, which is down by -16% against the previous month. Overall, the import price recorded a pronounced setback. The most prominent rate of growth was recorded in February 2023 an increase of 84% m-o-m. As a result, import price attained the peak level of $1,285 per ton. From March 2023 to July 2023, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was China ($615 per ton), while the price for Malaysia ($296 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Vietnam (+1.3%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Silicates; Commercial Alkali Metal Silicates in the Philippines (FOB) - 2022
The average export price for silicates; commercial alkali metal silicateses stood at $3,569 per ton in 2022, jumping by 47% against the previous year. Over the period under review, the export price, however, showed a deep setback. The growth pace was the most rapid in 2015 an increase of 48%. The export price peaked at $15,122 per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cyprus ($4,920 per ton), while the average price for exports to Singapore ($2,293 per ton) was amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+96.3%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Silicates; Commercial Alkali Metal Silicates in the Philippines
In 2022, the amount of silicates; commercial alkali metal silicateses imported into the Philippines fell rapidly to 19K tons, with a decrease of -17.2% compared with the previous year's figure. Over the period under review, imports saw a perceptible decline. The growth pace was the most rapid in 2021 with an increase of 18%. As a result, imports reached the peak of 23K tons, and then dropped remarkably in the following year.
In value terms, silicates; commercial alkali metal silicates imports contracted modestly to $12M in 2022. The total import value increased at an average annual rate of +6.3% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 41%. As a result, imports attained the peak of $12M, and then fell in the following year.
| Import of Silicates; Commercial Alkali Metal Silicates in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 4.7 | 2.6 | 3.0 | 3.4 | -10.2% |
| India | 1.5 | 1.1 | 2.3 | 3.2 | 28.7% |
| Indonesia | 1.9 | 2.7 | 4.2 | 2.8 | 13.8% |
| Vietnam | N/A | 0.1 | 0.3 | 0.5 | 123.6% |
| Malaysia | N/A | 0.1 | N/A | 0.3 | 73.2% |
| Others | 1.5 | 1.7 | 1.9 | 1.3 | -4.7% |
| Total | 9.6 | 8.3 | 11.7 | 11.5 | 6.2% |
Top Suppliers of Silicates; Commercial Alkali Metal Silicates to the Philippines in 2022:
- India (6.9K tons)
- Indonesia (5.8K tons)
- China (4.0K tons)
- Vietnam (1.1K tons)
- Malaysia (0.9K tons)
Exports of Silicates; Commercial Alkali Metal Silicates in the Philippines
Silicates; commercial alkali metal silicates exports from the Philippines reduced markedly to 7.7 tons in 2022, waning by -30.3% compared with the year before. In general, exports, however, posted a significant expansion. The growth pace was the most rapid in 2021 when exports increased by 9,916% against the previous year. As a result, the exports reached the peak of 11 tons, and then shrank markedly in the following year.
In value terms, silicates; commercial alkali metal silicates exports reached $27K in 2022. Overall, exports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of 12,606% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.
| Export of Silicates; Commercial Alkali Metal Silicates in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Hong Kong SAR | N/A | N/A | N/A | 11.5 | 0% |
| Singapore | N/A | N/A | 26.3 | 9.1 | -65.4% |
| Bangladesh | N/A | N/A | N/A | 4.0 | 0% |
| Cyprus | N/A | N/A | N/A | 2.5 | 0% |
| Thailand | 1.4 | N/A | N/A | N/A | 0% |
| Others | 0.3 | 0.2 | 0.5 | 0.4 | 10.1% |
| Total | 1.7 | 0.2 | 26.8 | 27.4 | 152.6% |
Top Export Markets for Silicates; Commercial Alkali Metal Silicates from the Philippines in 2022:
- Singapore (4.0 tons)
- Hong Kong SAR (2.4 tons)
- Bangladesh (0.8 tons)
- Cyprus (0.5 tons)
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