Philippines: Market for Double Or Complex Silicates 2024

Market Size for Double Or Complex Silicates in the Philippines

In 2022, the Philippine double or complex silicates market increased by X% to $X, rising for the second year in a row after three years of decline. In general, consumption enjoyed resilient growth. Double or complex silicates consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Exports of Double Or Complex Silicates

Exports from the Philippines

In 2022, approx. X tons of double or complex silicates were exported from the Philippines; surging by X% on the year before. In general, exports, however, recorded a deep slump. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, double or complex silicates exports rose markedly to $X in 2022. Overall, exports, however, showed a deep setback. The growth pace was the most rapid in 2013 when exports increased by X%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Vietnam (X tons) was the main destination for double or complex silicates exports from the Philippines, accounting for a X% share of total exports. Moreover, double or complex silicates exports to Vietnam exceeded the volume sent to the second major destination, Singapore (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Vietnam stood at X%.

In value terms, Vietnam ($X) remains the key foreign market for double or complex silicates exports from the Philippines, comprising X% of total exports. The second position in the ranking was held by Singapore ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Vietnam stood at X%.

Export Prices by Country

The average double or complex silicates export price stood at $X per ton in 2022, waning by X% against the previous year. Over the period under review, the export price recorded a pronounced shrinkage. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Vietnam amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (X%).

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Imports of Double Or Complex Silicates

Imports into the Philippines

In 2022, overseas purchases of double or complex silicates increased by X% to X tons, rising for the second year in a row after three years of decline. Over the period under review, imports posted a temperate expansion. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, double or complex silicates imports skyrocketed to $X in 2022. In general, imports showed prominent growth. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

The United States (X tons), Thailand (X tons) and China (X tons) were the main suppliers of double or complex silicates imports to the Philippines, together accounting for X% of total imports. Brazil, Turkey and India lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Thailand ($X) and Turkey ($X) were the largest double or complex silicates suppliers to the Philippines, together comprising X% of total imports.

Among the main suppliers, Turkey, with a CAGR of X%, recorded the highest growth rate of the value of imports, 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 double or complex silicates import price amounted to $X per ton, waning by X% against the previous year. Over the period under review, import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, double or complex silicates import price increased by X% against 2020 indices. The growth pace was the most rapid in 2018 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2021, and then reduced in the following year.

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 Turkey ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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