Philippines - Cement - Market Analysis, Forecast, Size, Trends And Insights
Update: COVID-19 Impact
Production Growth Remains Tangible on the Cement Market in the Philippines
IndexBox has just published a new report "Philippines: Cement - Market Report. Analysis And Forecast To 2025". Here is a summary of the report’s key findings.
The Cement Market Continues to Expand at a Robust Pace
The cement market in the Philippines totaled approx. X tonnes in 2017, increasing steadily from 2007 to 2017. Rapid construction growth, particularly in the infrastructure sector, against robust economic development in the Philippines, appears as the key impetus for market expansion. In value terms, the market in the Philippines earned total revenues of approx. $X in 2017 (IndexBox estimates), with a trend pattern echoing that of the market volume. This figure reflects the total revenue of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price).
The Cement Market Is Expected to Retain Its Robust Pace of Growth
As cement is largely consumed by the construction industry (the construction of various buildings and structures), the trend pattern prevailing in the construction sector and the economy overall are set to remain the key factors with regard to market development.
Macroeconomic factors in the Philippines remain generally positive in terms of the cement market. The Philippine economy is projected to maintain its current steady growth; this will promote increased investment and consumer demand. In addition, in line with government programmes that have been introduced, state investment into the construction of new transport and industrial infrastructure facilities is forecast to increase, thereby driving the construction sector in the medium term. Therefore, the cement market is expected to retain its robust upward trend pattern in the immediate term. Market performance is forecast to grow with an anticipated CAGR of +X% for the period from 2017 to 2025, which is expected to lead the market volume to X tonnes by 2025.
Growth in Terms of Cement Production in the Philippines Remains Tangible
Cement output in the Philippines increased to X tonnes in 2017, an increase of X% against the previous year. Cement production has been steadily increasing over the past decade, against a robust surge in demand. In the medium term, positive rates of growth are forecast to remain the trend: many manufacturers are planning to expand their production capacity, as government initiatives, in terms of infrastructure construction projects, intensify.
Despite Soaring Imports, the Market Remains Buoyed by Domestic Supply
Remaining fairly negligible from 2007-2015, the share of product imports in terms of total consumption soared to X% in 2016 and then stabilized, against increasing supplies of cheaper cement from Vietnam and China. The Philippine market now constitutes an attractive prospect for foreign suppliers, due to increased demand in the country, buoyed by a surge in construction sector growth. However, further product imports growth is restricted by the current lack of capacity to transship cement in ports; in addition, the authorities also plan to strengthen product quality control, in a bid to counter cheap imports. Therefore, domestic cement products are projected to continue their dominance of the market, although product imports appear likely to increase.
Cement Exports from the Philippines Remain Negligible
Exports of cement from the Philippines amounted to approx. X K tonnes in 2007 and X K tonnes in 2008. In comparison, in 2017, approx. X K tonnes of cement were exported. The trend remains identical with regard to both value and quantity. In 2017, Micronesia was almost the only consumer of cement from Philippines.
Cement Imports Continue to Surge
The volume of total cement imports to the Philippines totalled X units in 2017, which equated to $X in value terms. The volume of imports fluctuated from 2007 to 2013, but then imports started to increase rapidly. This growth appeared insignificant in 2014, but over the period from 2015 to 2017, product imports growth surged by over X tonnes. Construction industry growth, which led to higher cement demand, can be cited as the reason for this. In value terms, the trend pattern echoed that of the volume of imports.
Vietnam (X tonnes), China (X tonnes) and Thailand (X tonnes) remain the key suppliers of cement to the Philippines, together accounting for X% of total imports in 2016.
From 2014 to 2017, Vietnam (+X% per year) and China (+X% per year) recorded the highest rates of growth in terms of import supplies, while Malaysia (-X% per year) experienced a negative dynamic with regard to the volume of supplies. Consequently, the share of Vietnam (+X percentage points) and China (+X percentage points) in terms of total imports, noticeably increased from 2007-2017.
Do you want to know more about the cement market in the Philippines? Get the latest trends and insight from our report. It includes a wide range of statistics on
- cement market share
- cement prices
- cement industry
- cement sales
- cement import
- cement export
- cement market forecast
- cement price forecast
Source: IndexBox AI Platform
This report provides an in-depth analysis of the cement 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 2025.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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