Philippines - Abrasives (Natural) - Market Analysis, Forecast, Size, Trends and Insights
Philippines: Abrasives Market 2022
Abrasives Market Size in the Philippines
The Philippine abrasives market expanded markedly to $X in 2021, increasing by X% against the previous year. Overall, the total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -X% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.
Abrasives Production in the Philippines
In value terms, abrasives production totaled $X in 2021 estimated in export price. In general, the total production indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -X% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Abrasives production peaked at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.
Abrasives Exports
Exports from the Philippines
In 2021, the amount of abrasives (natural) exported from the Philippines dropped notably to X tons, with a decrease of -X% against the previous year. Overall, exports showed a sharp curtailment. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.
In value terms, abrasives exports declined markedly to $X in 2021. Over the period under review, exports recorded a sharp decline. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.
Exports by Country
Singapore (X tons) was the main destination for abrasives exports from the Philippines, with a X% share of total exports. Moreover, abrasives exports to Singapore exceeded the volume sent to the second major destination, South Korea (X tons), twofold.
From 2012 to 2021, the average annual rate of growth in terms of volume to Singapore stood at -X%.
In value terms, Singapore ($X) emerged as the key foreign market for abrasives exports from the Philippines, comprising X% of total exports. The second position in the ranking was taken by South Korea ($X), with a X% share of total exports.
From 2012 to 2021, the average annual rate of growth in terms of value to Singapore totaled -X%.
Export Prices by Country
In 2021, the average abrasives export price amounted to $X per ton, increasing by X% against the previous year. Overall, the export price posted a strong expansion. The pace of growth was the most pronounced in 2013 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the the average export prices remained at a lower figure.
Average prices varied noticeably for the major foreign markets. In 2021, the country with the highest price was South Korea ($X per ton), while the average price for exports to Singapore stood at $X per ton.
From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+X%).
Abrasives Imports
Imports into the Philippines
In 2021, purchases abroad of abrasives (natural) decreased by -X% to X tons, falling for the second year in a row after three years of growth. Overall, imports continue to indicate a noticeable downturn. The growth pace was the most rapid in 2013 with an increase of X%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.
In value terms, abrasives imports contracted to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of X%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.
Imports by Country
In 2021, China (X tons) constituted the largest supplier of abrasives to the Philippines, with a X% share of total imports. Moreover, abrasives imports from China exceeded the figures recorded by the second-largest supplier, Australia (X tons), threefold. Turkey (X tons) ranked third in terms of total imports with a X% share.
From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (-X% per year) and Turkey (-X% per year).
In value terms, China ($X) constituted the largest supplier of abrasives to the Philippines, comprising X% of total imports. The second position in the ranking was held by Australia ($X), with a X% share of total imports. It was followed by Turkey, with a X% share.
From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (-X% per year) and Turkey (-X% per year).
Import Prices by Country
In 2021, the average abrasives import price amounted to $X per ton, with a decrease of -X% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2020, and then shrank in the following year.
Prices varied noticeably countryorigin: the country with the highest price was Finland ($X per ton), while the price for China ($X per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+X%), while the prices for the other major suppliers experienced more modest paces of growth.
| Base Year | Historical Period | Forecast Period | Units |
|---|---|---|---|
| 2022 | 2012-2022 | 2023-2030 | US$, Tons |
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the abrasives 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.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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