Report Update Nov 1, 2024

Philippines - Granite Building Stone - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Granite Building Stone Market 2024

Granite Building Stone Market Size in the Philippines

The Philippine granite building stone market skyrocketed to $X in 2021, picking up by 68% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption showed buoyant growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Granite Building Stone Exports

Exports from the Philippines

In 2021, shipments abroad of granite building stone decreased by -74.2% to X tons, falling for the third year in a row after two years of growth. In general, exports, however, enjoyed a notable expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 9,024%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, granite building stone exports declined sharply to $X in 2021. Over the period under review, exports, however, enjoyed a strong increase. The pace of growth was the most pronounced in 2017 when exports increased by 9,514% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Japan (X tons) was the main destination for granite building stone exports from the Philippines, accounting for a 98% share of total exports. It was followed by Guam (X tons), with a 2.3% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Japan totaled +39.4%.

In value terms, Japan ($X) remains the key foreign market for granite building stone exports from the Philippines, comprising 98% of total exports. The second position in the ranking was held by Guam ($X), with a 1.4% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Japan stood at +44.1%.

Export Prices by Country

In 2021, the average granite building stone export price amounted to $X per ton, increasing by 13% against the previous year. In general, the export price saw a strong increase. The pace of growth was the most pronounced in 2014 an increase of 147%. As a result, the export price attained the peak level of $X per ton. From 2015 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 Japan ($X per ton), while the average price for exports to Guam amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+3.3%), while the prices for the other major destinations experienced a decline.

Granite Building Stone Imports

Imports into the Philippines

In 2021, after three years of decline, there was significant growth in supplies from abroad of granite building stone, when their volume increased by 36% to X tons. Overall, imports continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, granite building stone imports surged to $X in 2021. Over the period under review, imports recorded prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of granite building stone to the Philippines, with a 70% share of total imports. Moreover, granite building stone imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), fivefold. India (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+66.7% per year) and India (+3.2% per year).

In value terms, China ($X) constituted the largest supplier of granite building stone to the Philippines, comprising 71% of total imports. The second position in the ranking was taken by Japan ($X), with a 15% share of total imports. It was followed by India, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+50.8% per year) and India (+11.7% per year).

Import Prices by Country

The average granite building stone import price stood at $X per ton in 2021, jumping by 23% against the previous year. In general, the import price showed prominent growth. The growth pace was the most rapid in 2018 when the average import price increased by 34% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from China ($X per ton) and India ($X per ton), while the price for Singapore ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+13.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for granite building stone in the world?

The countries with the highest volumes of in 2021 were China, South Korea and the United States, with a combined 49% share of global consumption.

What are the largest producers of granite building stone in the world?

China constituted the country with the largest volume of granite building stone production, accounting for 46% of total volume. Moreover, granite building stone production in China exceeded the figures recorded by the second-largest producer, India, threefold. Brazil ranked third in terms of total production with a 6.8% share.

What are the leading suppliers of granite building stone to the Philippines?

In value terms, China constituted the largest supplier of granite building stone to the Philippines, comprising 71% of total imports. The second position in the ranking was occupied by Japan, with a 15% share of total imports. It was followed by India, with a 10% share.

What are the leading importers of granite building stone from the Philippines?

In value terms, Japan and the United States constituted the largest markets for granite building stone exported from the Philippines worldwide.

What is the average export price for granite building stone in the Philippines?

In 2021, the average granite building stone export price amounted to $1,159 per ton, declining by -44.8% against the previous year.

What is the average import price for granite building stone in the Philippines?

In 2021, the average granite building stone import price amounted to $691 per ton, increasing by 8.4% against the previous year.

This report provides an in-depth analysis of the granite building stone 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 23701260 - Worked monumental or building stone and articles thereof, of granite (excluding tiles, cubes and similar articles, of which the largest surface area is capable of being enclosed in a square the side of which is < 7 cm, setts, kerbstones and

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