Report Update Apr 1, 2024

Philippines - Rare Earth Metals - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Rare Earth Metal Market 2024

Rare Earth Metal Market Size in the Philippines

The Philippine rare earth metal market totaled $X in 2022, remaining constant against the previous year. Over the period under review, consumption, however, saw a perceptible slump. Rare earth metal consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Rare Earth Metal Production in the Philippines

In value terms, rare earth metal production totaled $X in 2022 estimated in export price. Over the period under review, production, however, saw a perceptible curtailment. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Rare Earth Metal Exports

Exports from the Philippines

Rare earth metal exports from the Philippines soared to X tons in 2022, jumping by X% on 2021 figures. Over the period under review, exports, however, showed a dramatic setback. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, rare earth metal exports surged to $X in 2022. In general, exports, however, recorded a precipitous descent. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam (X tons) was the main destination for rare earth metal exports from the Philippines, with a X% share of total exports. It was followed by Japan (X kg), with a X% share of total exports.

From 2013 to 2022, the average annual growth rate of volume to Vietnam amounted to X%.

In value terms, Vietnam ($X) emerged as the key foreign market for rare earth metals exports from the Philippines, comprising X% of total exports. The second position in the ranking was held by Japan ($X), with a X% share of total exports.

From 2013 to 2022, the average annual rate of growth in terms of value to Vietnam amounted to X%.

Export Prices by Country

In 2022, the average rare earth metal export price amounted to $X per ton, rising by X% against the previous year. Over the period under review, the export price enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the near future.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Japan amounted to $X per ton.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (X%), while the prices for the other major destinations experienced mixed trend patterns.

Rare Earth Metal Imports

Imports into the Philippines

After two years of decline, overseas purchases of rare earth metals increased by X% to X tons in 2022. Overall, imports, however, faced a sharp curtailment. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, rare earth metal imports surged to $X in 2022. In general, imports, however, recorded a pronounced contraction. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Japan (X tons) was the main rare earth metal supplier to the Philippines, accounting for a approx. X% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Japan totaled X%.

In value terms, Japan ($X) constituted the largest supplier of rare earth metals to the Philippines.

From 2012 to 2022, the average annual growth rate of value from Japan amounted to X%.

Import Prices by Country

In 2022, the average rare earth metal import price amounted to $X per ton, growing by X% against the previous year. Over the period under review, the import price saw a significant increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for Japan.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to X% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for rare earth metals in the world?

The countries with the highest volumes of consumption in 2023 were China, Australia and Myanmar, with a combined 74% share of global consumption. The United States, Japan and Malaysia lagged somewhat behind, together accounting for a further 19%.

What are the largest producers of rare earth metals in the world?

The country with the largest volume of rare earth metal production was China, comprising approx. 48% of total volume. Moreover, rare earth metal production in China exceeded the figures recorded by the second-largest producer, Australia, twofold. Myanmar ranked third in terms of total production with a 10% share.

What are the leading suppliers of rare earth metals to the Philippines?

In value terms, Japan constituted the largest supplier of rare earth metals to the Philippines.

What are the leading importers of rare earth metals from the Philippines?

In value terms, Vietnam emerged as the key foreign market for rare earth metals exports from the Philippines, comprising 99% of total exports. The second position in the ranking was taken by Japan, with a 0.9% share of total exports.

What is the average export price for rare earth metals in the Philippines?

In 2022, the average rare earth metal export price amounted to $81,485 per ton, picking up by 48% against the previous year.

What is the average import price for rare earth metals in the Philippines?

The average rare earth metal import price stood at $661,079 per ton in 2022, with an increase of 9,237% against the previous year.

This report provides an in-depth analysis of the rare earth metal 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