Philippines: Cement Clinker Market 2024

Cement Clinker Market Size in the Philippines

The Philippine cement clinker market shrank slightly to $X in 2022, which is down by -1.5% against the previous year. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Cement Clinker Production in the Philippines

In value terms, cement clinker production fell slightly to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 10%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Cement Clinker Exports

Exports from the Philippines

In 2022, approx. X tons of cement clinker were exported from the Philippines; shrinking by -36.7% compared with the previous year's figure. In general, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 5,496%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, cement clinker exports reduced to $X in 2022. Over the period under review, exports, however, posted significant growth. The growth pace was the most rapid in 2013 with an increase of 8,602%. Over the period under review, the exports hit record highs at $X in 2021, and then contracted in the following year.

Exports by Country

South Korea (X tons), Japan (X tons) and Taiwan (Chinese) (X tons) were the main destinations of cement clinker exports from the Philippines, with a combined 74% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +56.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Israel ($X) and Japan ($X) constituted the largest markets for cement clinker exported from the Philippines worldwide, together comprising 78% of total exports. Taiwan (Chinese), the United States, Papua New Guinea and Malaysia lagged somewhat behind, together comprising a further 18%.

Among the main countries of destination, Taiwan (Chinese), with a CAGR of +55.9%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cement clinker export price stood at $X per ton in 2022, jumping by 37% against the previous year. In general, the export price posted a resilient expansion. The growth pace was the most rapid in 2013 when the average export price increased by 56%. 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 export markets. In 2022, amid the top suppliers, the country with the highest price was Israel ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+11.3%), while the prices for the other major destinations experienced mixed trend patterns.

Cement Clinker Imports

Imports into the Philippines

In 2022, the amount of cement clinker imported into the Philippines fell modestly to X tons, waning by -4.1% compared with 2021. Over the period under review, imports, however, showed a prominent expansion. The growth pace was the most rapid in 2013 with an increase of 115% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, cement clinker imports amounted to $X in 2022. Overall, imports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 117%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Vietnam (X tons), Japan (X tons) and Indonesia (X tons) were the main suppliers of cement clinker imports to the Philippines, with a combined 83% share of total imports. South Korea, Thailand and China lagged somewhat behind, together comprising a further 17%.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +104.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cement clinker suppliers to the Philippines were Vietnam ($X), Japan ($X) and Indonesia ($X), with a combined 83% share of total imports. South Korea, Thailand and China lagged somewhat behind, together accounting for a further 17%.

Thailand, with a CAGR of +87.4%, saw 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 more modest paces of growth.

Import Prices by Country

In 2022, the average cement clinker import price amounted to $X per ton, rising by 15% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average import price increased by 20% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :