Price for Silicates; Commercial Alkali Metal Silicates, Other than of Sodium or Potassium in the Philippines - 2023

Contents:

1. Price for Silicates; Commercial Alkali Metal Silicates, Other than of Sodium or Potassium in the Philippines (CIF) - 2022
2. Price for Silicates; Commercial Alkali Metal Silicates, Other than of Sodium or Potassium in the Philippines (FOB) - 2022
3. Imports of Silicates; Commercial Alkali Metal Silicates, Other than of Sodium or Potassium in the Philippines
4. Exports of Silicates; Commercial Alkali Metal Silicates, Other than of Sodium or Potassium in the Philippines

Price for Silicates; Commercial Alkali Metal Silicates, Other than of Sodium or Potassium in the Philippines (CIF) - 2022

In 2022, the average import price for silicates; commercial alkali metal silicates, other than of sodium or potassia amounted to $1,713 per ton, which is down by -22.6% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the average import price increased by 46% against the previous year. As a result, import price attained the peak level of $2,253 per ton. From 2020 to 2022, the average 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 the United States ($7,283 per ton), while the price for Malaysia ($304 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+21.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Silicates; Commercial Alkali Metal Silicates, Other than of Sodium or Potassium in the Philippines (FOB) - 2022

The average export price for silicates; commercial alkali metal silicates, other than of sodium or potassia stood at $3,569 per ton in 2022, surging by 47% against the previous year. In general, the export price, however, showed a abrupt setback. The export price peaked at $24,614 per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Cyprus ($4,920 per ton), while the average price for exports to Singapore ($2,293 per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+7.6%).

Imports of Silicates; Commercial Alkali Metal Silicates, Other than of Sodium or Potassium in the Philippines

In 2022, approx. 2.3K tons of silicates; commercial alkali metal silicates, other than of sodium or potassia were imported into the Philippines; surging by 24% compared with the previous year's figure. Overall, total imports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +17.3% 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 +75.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 42%. Imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, imports of silicates; commercial alkali metal silicates, other than of sodium or potassia shrank modestly to $3.9M in 2022. In general, total imports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +7.0% 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 +48.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 55% against the previous year. As a result, imports attained the peak of $4.1M, and then declined in the following year.

Top Suppliers of Silicates; Commercial Alkali Metal Silicates, Other than of Sodium or Potassium to the Philippines in 2022:

1. Malaysia (913.0 tons)
2. China (617.9 tons)
3. India (237.8 tons)
4. Indonesia (186.7 tons)
5. Spain (174.8 tons)
6. Poland (60.0 tons)
7. Netherlands (20.0 tons)
8. Taiwan (Chinese) (6.0 tons)

Exports of Silicates; Commercial Alkali Metal Silicates, Other than of Sodium or Potassium in the Philippines

In 2022, exports of silicates; commercial alkali metal silicates, other than of sodium or potassia from the Philippines fell rapidly to 7.7 tons, with a decrease of -29.3% against the previous year. Overall, exports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 9,775%. As a result, the exports reached the peak of 11 tons, and then fell markedly in the following year.

In value terms, exports of silicates; commercial alkali metal silicates, other than of sodium or potassia rose to $27K in 2022. In general, exports, however, enjoyed significant growth. The growth pace was the most rapid in 2021 with an increase of 12,386% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Top Export Markets for Silicates; Commercial Alkali Metal Silicates, Other than of Sodium or Potassium from the Philippines in 2022:

1. Singapore (4.0 tons)
2. Hong Kong SAR (2.4 tons)
3. Bangladesh (0.8 tons)
4. Cyprus (0.5 tons)

Source: IndexBox Market Intelligence Platform