Philippines: Lithium Battery Market 2024

Lithium Battery Market Size in the Philippines

The Philippine lithium battery market declined sharply to $X in 2021, waning by -57.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, showed strong growth. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Lithium Battery Exports

Exports from the Philippines

In 2021, after two years of growth, there was significant decline in overseas shipments of lithium cells ans batteries, when their volume decreased by -20.4% to X tons. In general, exports, however, posted significant growth. The growth pace was the most rapid in 2013 with an increase of 1,413%. The exports peaked at X tons in 2020, and then fell dramatically in the following year.

In value terms, lithium battery exports reduced to $X in 2021. Overall, exports, however, saw a significant increase. The growth pace was the most rapid in 2013 when exports increased by 1,775%. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Switzerland (X tons), the Netherlands (X tons) and the United States (X tons) were the main destinations of lithium battery exports from the Philippines, with a combined 95% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +2,304.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for lithium battery exported from the Philippines were the Netherlands ($X), Switzerland ($X) and the United States ($X), together accounting for 93% of total exports.

The Netherlands, with a CAGR of +2,416.8%, 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 more modest paces of growth.

Export Prices by Country

The average lithium battery export price stood at $X per ton in 2021, rising by 13% against the previous year. Over the period under review, the export price posted strong growth. The growth pace was the most rapid in 2015 when the average export price increased by 929% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Japan ($X per ton), while the average price for exports to Switzerland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+13.8%), while the prices for the other major destinations experienced more modest paces of growth.

Lithium Battery Imports

Imports into the Philippines

In 2021, lithium battery imports into the Philippines contracted sharply to X tons, shrinking by -60.1% on 2020. In general, imports, however, posted resilient growth. The growth pace was the most rapid in 2016 when imports increased by 320%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, lithium battery imports fell rapidly to $X in 2021. Over the period under review, imports, however, posted significant growth. The pace of growth was the most pronounced in 2016 with an increase of 257%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

Singapore (X tons), Hong Kong SAR (X tons) and South Korea (X tons) were the main suppliers of lithium battery imports to the Philippines, together comprising 65% of total imports. Malaysia, China, Indonesia and Japan lagged somewhat behind, together comprising a further 28%.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +64.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Hong Kong SAR ($X) and South Korea ($X) were the largest lithium battery suppliers to the Philippines, with a combined 65% share of total imports. Malaysia, China, Indonesia and Japan lagged somewhat behind, together accounting for a further 28%.

Among the main suppliers, Malaysia, with a CAGR of +73.9%, 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

The average lithium battery import price stood at $X per ton in 2021, increasing by 19% against the previous year. Overall, the import price continues to indicate strong growth. The pace of growth was the most pronounced in 2020 when the average import price increased by 51%. Over the period under review, average import prices hit record highs in 2021 and is likely to see steady growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from Indonesia ($X per ton) and China ($X per ton), while the price for Japan ($X per ton) and Singapore ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+15.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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