Philippines - Aluminum and Alloys - Market Analysis, Forecast, Size, Trends And Insights
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View PricingAluminum Price in the Philippines - 2023
Contents:
- Aluminum Price in the Philippines (CIF) - 2023
- Aluminum Price in the Philippines (FOB) - 2023
- Aluminum Imports in the Philippines
- Aluminum Exports in the Philippines
Aluminum Price in the Philippines (CIF) - 2023
The average aluminum import price stood at $2,558 per ton in June 2023, waning by -3.3% against the previous month. Over the period under review, the import price saw a slight decline. The most prominent rate of growth was recorded in December 2022 when the average import price increased by 7.6% against the previous month. Over the period under review, average import prices hit record highs at $3,199 per ton in June 2022; however, from July 2022 to June 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was Taiwan (Chinese) ($2,803 per ton), while the price for China ($1,837 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+0.1%), while the prices for the other major suppliers experienced a decline.
Aluminum Price in the Philippines (FOB) - 2023
In June 2023, the average aluminum export price amounted to $2,007 per ton, jumping by 35% against the previous month. In general, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in April 2023 an increase of 48% against the previous month. Over the period under review, the average export prices attained the maximum at $2,040 per ton in September 2022; afterwards, it flattened through to June 2023.
There were significant differences in the average prices for the major export markets. In June 2023, the country with the highest price was China ($2,056 per ton), while the average price for exports to Malaysia amounted to $405 per ton.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+3.1%), while the prices for the other major destinations experienced mixed trend patterns.
Aluminum Imports in the Philippines
In 2022, aluminum imports into the Philippines shrank rapidly to 25K tons, waning by -21% compared with 2021 figures. In general, imports faced a abrupt decline. The most prominent rate of growth was recorded in 2021 when imports increased by 23% against the previous year.
In value terms, aluminum imports declined to $75M in 2022. Overall, total imports indicated mild growth from 2019 to 2022: its value increased at an average annual rate of +1.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +53.2% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 74%. As a result, imports reached the peak of $86M, and then reduced in the following year.
Import of Aluminum in the Philippines (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Malaysia | 20.7 | 13.3 | 15.0 | 15.6 | -9.0% |
Taiwan (Chinese) | 9.9 | 10.2 | 14.7 | 13.4 | 10.6% |
United Arab Emirates | 12.8 | 4.3 | 11.1 | 11.0 | -4.9% |
Qatar | 2.5 | 1.8 | 8.0 | 8.6 | 51.0% |
Indonesia | 4.5 | 3.6 | 10.4 | 6.7 | 14.2% |
China | 9.3 | 4.2 | 5.7 | 6.0 | -13.6% |
South Korea | 3.5 | 5.4 | 9.8 | 5.4 | 15.6% |
Thailand | 0.1 | 1.2 | 6.0 | 5.3 | 275.6% |
Others | 9.6 | 5.3 | 4.9 | 3.4 | -29.2% |
Total | 72.9 | 49.3 | 85.6 | 75.5 | 1.2% |
Top Suppliers of Aluminum to the Philippines in 2022:
- Malaysia (5.3K tons)
- Taiwan (Chinese) (4.2K tons)
- United Arab Emirates (3.8K tons)
- Qatar (2.8K tons)
- Indonesia (2.3K tons)
- China (2.1K tons)
- Thailand (1.9K tons)
- South Korea (1.4K tons)
Aluminum Exports in the Philippines
For the fourth consecutive year, the Philippines recorded growth in overseas shipments of aluminum, which increased by 217% to 8.9K tons in 2022. Overall, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 476%. The exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, aluminum exports surged to $16M in 2022. Over the period under review, exports recorded a significant expansion. The growth pace was the most rapid in 2020 with an increase of 417% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.
Export of Aluminum in the Philippines (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | N/A | 1.9 | 4.6 | 14.5 | 176.3% |
Malaysia | N/A | 0.1 | N/A | 0.4 | 100.0% |
South Korea | N/A | N/A | N/A | 0.4 | 0% |
Hong Kong SAR | N/A | N/A | N/A | 0.2 | 0% |
Others | 0.4 | 0.2 | N/A | 0.1 | -37.0% |
Total | 0.4 | 2.1 | 4.7 | 15.7 | 239.8% |
Top Export Markets for Aluminum from the Philippines in 2022:
- China (7.7K tons)
- South Korea (0.5K tons)
- Malaysia (0.3K tons)
- Hong Kong SAR (0.2K tons)
This report provides an in-depth analysis of the aluminum 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:
- Prodcom 24421130 - Unwrought non-alloy aluminium (excluding powders and flakes)
- Prodcom 24421154 - Unwrought aluminium alloys (excluding aluminium powders and flakes)
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
This report provides an in-depth analysis of the aluminum market in the Philippines.
This report provides an in-depth analysis of the aluminium market in the Philippines.
This report provides an in-depth analysis of the unwrought aluminium alloys market in the Philippines.
This report provides an in-depth analysis of the aluminium and titanium market in the Philippines.
This report provides an in-depth analysis of the global aluminum market.
This report provides an in-depth analysis of the global aluminium market.
This report provides an in-depth analysis of the global unwrought aluminium alloys market.
This report provides an in-depth analysis of the global aluminium and titanium market.
This report provides an in-depth analysis of the aluminum market in the Philippines.
This report provides an in-depth analysis of the aluminium market in the Philippines.
Discover the top import markets for aluminum worldwide and their import values in 2022. Learn about the leading countries like the United States, Netherlands, Germany, Japan, China, and more. Find key statistics and insights on the global aluminum market.
Throughout this year, global aluminum prices continuously grew and in October 2021 gained 62% compared to October 2020. China's output has decreased due to restrictions on energy usage and halted production at a 300K-ton capacity factory in Yunnan province. As a consequence, the average yearly price in 2022 is projected to rise by 6% y-o-y. Despite rising prices, the U.S., the world´s largest aluminum importer, expanded its purchases by 4.5% against 2020.
Prices for aluminum this year will remain low thanks to the consistent growth in global production of the metal overcoming obstacles caused by the pandemic. In the mid-term, demand for aluminum in the construction sector and car manufacturing is forecast to steadily rise. The rapid development of alternative energy sources will also drive the market up because aluminum is used in the production of solar batteries, wind generators and other components of energy facilities. In China, the launch of quotas on greenhouse gas emissions could lead to higher prices for aluminum as production for the metal in the country leaves a heavy carbon footprint.
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