Philippines: Mica Market 2022

Mica Market Size in the Philippines

In 2021, the Philippine mica market decreased by -X% to $X, falling for the second consecutive year after eight years of growth. In general, consumption recorded a notable increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Mica Exports

Exports from the Philippines

In 2021, after six years of decline, there was significant growth in overseas shipments of mica, when their volume increased by X% to X kg. Overall, exports, however, saw a dramatic decrease. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tonnes in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, mica exports reduced slightly to $X in 2021. Over the period under review, exports, however, saw a abrupt descent. The growth pace was the most rapid in 2013 with an increase of X%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

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

From 2012 to 2018, the average annual rate of growth in terms of volume to India was relatively modest.

From 2012 to 2018, the average annual growth rate of value to India was relatively modest.

Export Prices by Country

The average mica export price stood at $X per tonne in 2018, picking up by X% against the previous year. Overall, the export price saw a significant increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2018, the rate of growth in terms of prices for India amounted to X% per year.

Mica Imports

Imports into the Philippines

In 2021, the amount of mica imported into the Philippines shrank markedly to X tonnes, declining by -X% against the previous year. Over the period under review, imports faced a significant decline. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, imports attained the peak of X tonnes. From 2015 to 2021, the growth imports remained at a lower figure.

In value terms, mica imports declined remarkably to $X in 2021. Overall, imports recorded a abrupt downturn. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Imports peaked at $X in 2020, and then dropped sharply in the following year.

Imports by Country

Pakistan (X kg), Taiwan (Chinese) (X kg) and Japan (X kg) were the main suppliers of mica imports to the Philippines, together comprising X% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Pakistan (with a CAGR of +X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constituted the largest supplier of mica to the Philippines, comprising X% of total imports. The second position in the ranking was occupied by Pakistan ($X), with a X% share of total imports. It was followed by Taiwan (Chinese), with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value from India amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Pakistan (+X% per year) and Taiwan (Chinese) (+X% per year).

Import Prices by Country

In 2021, the average mica import price amounted to $X per tonne, waning by -X% against the previous year. In general, the import price, however, continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2015 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per tonne in 2020, and then contracted notably in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was India ($X per tonne), while the price for Pakistan ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform