Report Update Apr 1, 2024

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

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Philippines: Magnesium Market 2024

Magnesium Market Size in the Philippines

In 2022, the Philippine magnesium market increased by X% to $X for the first time since 2018, thus ending a three-year declining trend. In general, consumption saw a mild expansion. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Magnesium Production in the Philippines

In value terms, magnesium production contracted to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by X% against the previous year. Magnesium production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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Magnesium Exports

Exports from the Philippines

In 2019, the amount of magnesium exported from the Philippines amounted to X kg, leveling off at 2018. Overall, exports continue to indicate a dramatic setback. The smallest decline of X% was in 2016. The exports peaked at X tons in 2015; however, from 2016 to 2019, the exports remained at a lower figure.

In value terms, magnesium exports amounted to $X in 2019. In general, exports showed a dramatic slump. The smallest decline of X% was in 2016. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2019, the exports remained at a lower figure.

Exports by Country

Taiwan (Chinese) (X kg) was the main destination for magnesium exports from the Philippines, with a approx. X% share of total exports.

From 2015 to 2019, the average annual rate of growth in terms of volume to Taiwan (Chinese) was relatively modest.

From 2015 to 2019, the average annual rate of growth in terms of value to Taiwan (Chinese) was relatively modest.

Export Prices by Country

In 2019, the average magnesium export price amounted to $X per ton, remaining stable against the previous year. Over the period under review, the export price saw a significant increase. The most prominent rate of growth was recorded in 2016 a decrease of X% against the previous year. Over the period under review, the average export prices hit record highs in 2019 and is expected to retain growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Taiwan (Chinese).

From 2015 to 2019, the rate of growth in terms of prices for Taiwan (Chinese) amounted to X% per year.

Magnesium Imports

Imports into the Philippines

After three years of decline, overseas purchases of magnesium increased by X% to X tons in 2022. In general, imports posted a resilient expansion. The pace of growth was the most pronounced in 2016 with an increase of X%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, magnesium imports skyrocketed to $X in 2022. Overall, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

Indonesia (X tons), China (X tons) and Taiwan (Chinese) (X kg) were the main suppliers of magnesium imports to the Philippines, with a combined X% share of total imports.

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

In value terms, China ($X), Indonesia ($X) and Taiwan (Chinese) ($X) appeared to be the largest magnesium suppliers to the Philippines, with a combined X% share of total imports.

Among the main suppliers, Indonesia, with a CAGR of X%, saw the highest rates of growth with regard to 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 magnesium import price stood at $X per ton in 2022, falling by X% against the previous year. Overall, the import price, however, showed resilient growth. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for magnesium in the world?

China constituted the country with the largest volume of magnesium consumption, accounting for 43% of total volume. Moreover, magnesium consumption in China exceeded the figures recorded by the second-largest consumer, the United States, sevenfold. The third position in this ranking was held by Canada, with a 6.2% share.

What are the largest producers of magnesium in the world?

China constituted the country with the largest volume of magnesium production, accounting for 83% of total volume. Moreover, magnesium production in China exceeded the figures recorded by the second-largest producer, Russia, more than tenfold. Israel ranked third in terms of total production with a 3% share.

What are the leading suppliers of magnesium to the Philippines?

In value terms, the largest magnesium suppliers to the Philippines were China, Indonesia and Taiwan Chinese) $793), together accounting for 99% of total imports.

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

In 2019, the average magnesium export price amounted to $2,405 per ton, approximately equating the previous year.

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

The average magnesium import price stood at $5,678 per ton in 2022, reducing by -11.2% against the previous year.

This report provides an in-depth analysis of the magnesium 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:

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