Report Update: Apr 1, 2024

Philippines - Platinum - Market Analysis, Forecast, Size, Trends And Insights

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Platinum Price in the Philippines - 2023

Platinum Price in the Philippines (CIF) - 2022

The average platinum import price stood at $10,216,655 per ton in 2022, falling by -36.7% against the previous year. Overall, the import price, however, saw a buoyant expansion. The growth pace was the most rapid in 2016 an increase of 104% against the previous year. The import price peaked at $16,137,445 per ton in 2021, and then fell sharply in the following year.

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 South Korea ($53,084,838 per ton), while the price for Switzerland ($361,991 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+53.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Platinum Price in the Philippines (FOB) - 2022

The average platinum export price stood at $4,119,239 per ton in 2022, shrinking by -52.4% against the previous year. Overall, the export price continues to indicate a perceptible shrinkage. The growth pace was the most rapid in 2016 an increase of 67%. As a result, the export price reached the peak level of $9,578 per kg. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Italy amounted to +538.7% per year.

Platinum Imports in the Philippines

In 2022, overseas purchases of platinum decreased by -40.9% to 188 kg, falling for the second year in a row after two years of growth. Over the period under review, imports showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 when imports increased by 74%. As a result, imports reached the peak of 501 kg. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, platinum imports dropped sharply to $1.9M in 2022. In general, imports recorded a perceptible setback. The pace of growth was the most pronounced in 2020 when imports increased by 237%. As a result, imports reached the peak of $7.4M. From 2021 to 2022, the growth of imports remained at a lower figure.

Import of Platinum in the Philippines (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Japan	2,081	4,790	2,381	1,316	-14.2%
South Korea	109	2,628	2,720	566	73.2%
United States	7.5	N/A	1.3	17.3	32.1%
Singapore	0.2	N/A	N/A	15.5	326.4%
China	0.5	N/A	12.8	5.6	123.7%
Switzerland	N/A	N/A	0.4	1.8	350.0%
Others	7.5	21.8	10.9	1.2	-45.7%
Total	2,206	7,440	5,127	1,924	-4.5%

Top Suppliers of Platinum to the Philippines in 2022:

Japan (115.0 kg)
Singapore (40.0 kg)
United States (12.0 kg)
South Korea (11.0 kg)
Switzerland (5.0 kg)
China (4.0 kg)

Platinum Exports in the Philippines

In 2022, approx. 2 kg of platinum were exported from the Philippines; with a decrease of -77.8% on 2021 figures. Over the period under review, exports faced a dramatic curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 350%. As a result, the exports attained the peak of 9 kg, and then dropped notably in the following year.

In value terms, platinum exports fell significantly to $10K in 2022. In general, exports faced a dramatic decline. The pace of growth appeared the most rapid in 2021 when exports increased by 582%. As a result, the exports reached the peak of $78K, and then declined rapidly in the following year.

Export of Platinum in the Philippines (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Hong Kong SAR	N/A	N/A	42.7	10.3	-75.9%
Japan	51.3	11.4	35.2	N/A	-17.2%
United States	5.8	N/A	N/A	N/A	0%
Others	N/A	N/A	N/A	N/A	0%
Total	57.2	11.4	77.9	10.3	-43.5%

Top Export Markets for Platinum from the Philippines in 2022:

Hong Kong SAR (2.0 kg)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the platinum 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 24413010 -
Prodcom 24413015 -
Prodcom 24413020 -
Prodcom 24413025 -
Prodcom 24413040 -
Prodcom 24413045 -
Prodcom 24413055 -
Prodcom 24413060 -
Prodcom 24413065 -
Prodcom 24413070 - Platinum catalysts in the form of wire cloth or grill
Prodcom 24413030 - Platinum, palladium, rhodium, iridium, osmium and ruthenium, unwrought or in powder form
Prodcom 24413050 - Platinum, palladium, rhodium, iridium, osmium and ruthenium, in semi-manufactured forms (excluding unwrought or in powder form)

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