Philippines: Market for Granite, Sandstone And Other Building Stone 2024

Market Size for Granite, Sandstone And Other Building Stone in the Philippines

The Philippine market for granite, sandstone and other building stone rose markedly to $X in 2022, increasing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Consumption of peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Production of Granite, Sandstone And Other Building Stone in the Philippines

In value terms, production of granite, sandstone and other building stone amounted to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, production attained the peak level of $X. From 2018 to 2022, production of growth failed to regain momentum.

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Exports of Granite, Sandstone And Other Building Stone

Exports from the Philippines

In 2021, approx. X tons of granite, sandstone and other building stone were exported from the Philippines; picking up by X% compared with the previous year's figure. In general, exports, however, faced a abrupt downturn. Over the period under review, the exports of hit record highs at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, exports of granite, sandstone and other building stone surged to $X in 2021. Over the period under review, exports, however, showed a abrupt slump. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X tons) was the main destination for exports of granite, sandstone and other building stone from the Philippines, with a X% share of total exports. Moreover, exports of granite, sandstone and other building stone to Germany exceeded the volume sent to the second major destination, Japan (X tons), threefold. The United States (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2021, the average annual growth rate of volume to Germany totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and the United States (X% per year).

In value terms, Germany ($X) remains the key foreign market for granite, sandstone and other building stone exports from the Philippines, comprising X% of total exports. The second position in the ranking was taken by the Czech Republic ($X), with a X% share of total exports. It was followed by Japan, with an X% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (X% per year) and Japan (X% per year).

Export Prices by Country

In 2021, the average export price for granite, sandstone and other building stone amounted to $X per ton, waning by X% against the previous year. Overall, export price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, export price for granite, sandstone and other building stone decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2018 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Granite, Sandstone And Other Building Stone

Imports into the Philippines

In 2022, the amount of granite, sandstone and other building stone imported into the Philippines shrank slightly to X tons, waning by X% against the year before. Over the period under review, imports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports of attained the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, imports of granite, sandstone and other building stone fell remarkably to $X in 2022. Overall, imports faced a precipitous decrease. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

South Africa (X tons), China (X tons) and India (X tons) were the main suppliers of imports of granite, sandstone and other building stone to the Philippines.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hong Kong SAR (with a CAGR of X%), while imports for the other leaders experienced a decline.

In value terms, South Africa ($X), China ($X) and Hong Kong SAR ($X) were the largest granite, sandstone and other building stone suppliers to the Philippines.

Hong Kong SAR, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average import price for granite, sandstone and other building stone stood at $X per ton in 2021, falling by X% against the previous year. Overall, import price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for granite, sandstone and other building stone decreased by X% against 2018 indices. The pace of growth appeared the most rapid in 2018 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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