Philippines - Stainless Steel in Ingots or other Primary Forms - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Stainless Steel in Ingots or Other Primary Forms in the Philippines - 2023
Contents:
- Price for Stainless Steel in Ingots or Other Primary Forms in the Philippines (CIF) - 2022
- Price for Stainless Steel in Ingots or Other Primary Forms in the Philippines (FOB) - 2022
- Imports of Stainless Steel in Ingots or Other Primary Forms in the Philippines
- Exports of Stainless Steel in Ingots or Other Primary Forms in the Philippines
Price for Stainless Steel in Ingots or Other Primary Forms in the Philippines (CIF) - 2022
In 2022, the average import price for stainless steel in ingots or other primary forms amounted to $1,461 per ton, which is down by -2.9% against the previous year. In general, the import price continues to indicate a abrupt descent. The growth pace was the most rapid in 2016 when the average import price increased by 105% against the previous year. Over the period under review, average import prices reached the maximum at $3,874 per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($21,150 per ton), while the price for South Korea ($1,309 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+20.6%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Stainless Steel in Ingots or Other Primary Forms in the Philippines (FOB) - 2022
The average export price for stainless steel in ingots or other primary forms stood at $11,260 per ton in 2022, with an increase of 109% against the previous year. Overall, the export price posted a remarkable increase. The pace of growth was the most pronounced in 2016 an increase of 157%. The export price peaked in 2022 and is likely to see gradual growth in the near future.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Finland ($21,217 per ton), while the average price for exports to Japan stood at $4,176 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+11.0%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Stainless Steel in Ingots or Other Primary Forms in the Philippines
In 2022, the amount of stainless steel in ingots or other primary forms imported into the Philippines soared to 3K tons, increasing by 60% on 2021 figures. In general, imports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2020 when imports increased by 202%. As a result, imports reached the peak of 4.2K tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
In value terms, imports of stainless steel in ingots or other primary forms surged to $4.4M in 2022. Over the period under review, imports continue to indicate a significant increase. The growth pace was the most rapid in 2020 when imports increased by 94%. Imports peaked in 2022 and are likely to see steady growth in the near future.
| Import of Stainless Steel in Ingots or Other Primary Forms in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | 1.2 | 3.8 | 2.3 | 3.8 | 46.8% |
| China | 0.2 | 0.1 | 0.1 | 0.2 | 0.0% |
| Japan | 0.4 | 0.1 | 0.2 | 0.1 | -37.0% |
| Others | 0.5 | 0.2 | 0.3 | 0.3 | -15.7% |
| Total | 2.2 | 4.3 | 2.9 | 4.4 | 26.0% |
Top Suppliers of Stainless Steel in Ingots or Other Primary Forms to the Philippines in 2022:
- South Korea (2.9K tons)
- China (0.1K tons)
Exports of Stainless Steel in Ingots or Other Primary Forms in the Philippines
For the third consecutive year, the Philippines recorded decline in overseas shipments of stainless steel in ingots or other primary forms, which decreased by -92.5% to 697 kg in 2022. In general, exports continue to indicate a dramatic decrease. The smallest decline of -1.9% was in 2021.
In value terms, exports of stainless steel in ingots or other primary forms reduced rapidly to $7.8K in 2022. Over the period under review, exports faced a precipitous decrease. The smallest decline of -36.1% was in 2020.
| Export of Stainless Steel in Ingots or Other Primary Forms in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Finland | 8.4 | 21.8 | 5.4 | 6.1 | -10.1% |
| Japan | 59.3 | 0.4 | N/A | 1.7 | -69.4% |
| Hong Kong SAR | 43.6 | 5.4 | N/A | N/A | -87.6% |
| China | 0.4 | 23.0 | 2.5 | N/A | 150.0% |
| United States | 7.5 | 10.5 | N/A | N/A | 40.0% |
| United Arab Emirates | N/A | N/A | 4.5 | N/A | 0% |
| Taiwan (Chinese) | N/A | 16.6 | 27.9 | N/A | 68.1% |
| Others | 5.6 | 2.2 | 9.9 | 0.1 | -73.9% |
| Total | 125 | 79.8 | 50.3 | 7.8 | -60.3% |
Top Export Markets for Stainless Steel in Ingots or Other Primary Forms from the Philippines in 2022:
- Japan (410.0 kg)
- Finland (286.0 kg)
This report provides an in-depth analysis of the market for stainless steel in ingots or other primary forms 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 24102210 - Flat semi-finished products (slabs) (of stainless steel)
- Prodcom 24102221 - Ingots, other primary forms and long semi-finished products for seamless tubes (of stainless steel)
- Prodcom 24102222 - Other ingots, primary forms and long semi-finished products (of stainless steel)
- Prodcom 241022Z0 - Ingots, other primary forms and long semi-finished products, o f stainless steel
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
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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
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This report provides an in-depth analysis of the market for stainless steel in ingots or other primary forms in the Philippines.
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