Philippines: Market for Granite, Sandstone And Other Building Stone 2022

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

The Philippine market for granite, sandstone and other building stone soared to $X in 2021, picking up by 43% against the previous year. In general, consumption, however, saw a drastic downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, 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 totaled $X in 2021 estimated in export price. In general, production saw a relatively flat trend pattern. As a result, production reached the peak level and is likely to continue growth in the immediate term.

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; rising by 79% against the previous year. In general, exports, however, recorded a significant curtailment. The exports peaked 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 soared to $X in 2021. Overall, exports, however, faced a deep downturn. Over the period under review, the exports of reached the maximum at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Germany (X tons) was the main destination for exports of granite, sandstone and other building stone from the Philippines, accounting for a 65% 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 third position in this ranking was held by the United States (X tons), with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany totaled -8.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-5.6% per year) and the United States (-27.0% per year).

In value terms, Germany ($X) remains the key foreign market for granite, sandstone and other building stone exports from the Philippines, comprising 66% of total exports. The second position in the ranking was taken by the Czech Republic ($X), with a 7.9% share of total exports. It was followed by Japan, with a 7.8% share.

From 2012 to 2021, the average annual growth rate of value to Germany totaled -5.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+49.1% per year) and Japan (-9.1% per year).

Export Prices by Country

The average export price for granite, sandstone and other building stone stood at $X per ton in 2021, waning by -5% against the previous year. Overall, the export price, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2018 when the average export price increased by 62%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the the average export prices failed to regain momentum.

Prices varied noticeably country of destination: 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 (+27.8%), 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 2021, imports of granite, sandstone and other building stone into the Philippines surged to X tons, rising by 36% on the previous year. In general, imports, however, showed a abrupt decline. The pace of growth appeared the most rapid in 2017 when imports increased by 133%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, imports of granite, sandstone and other building stone soared to $X in 2021. Over the period under review, imports, however, saw a abrupt shrinkage. The pace of growth was the most pronounced in 2017 when imports increased by 143% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

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, together accounting for 95% of total imports. These countries were followed by Hong Kong SAR and Taiwan (Chinese), which together accounted for a further 3.1%.

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 +4.4%), while imports for the other leaders experienced a decline.

In value terms, the largest granite, sandstone and other building stone suppliers to the Philippines were South Africa ($X), China ($X) and Hong Kong SAR ($X), together comprising 97% of total imports.

In terms of the main suppliers, Hong Kong SAR, with a CAGR of +24.1%, saw the highest growth rate of the value of imports, 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, picking up by 5.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.7%. The growth pace was the most rapid in 2019 when the average import price increased by 12% against the previous year. The import price peaked in 2021 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, 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) (+21.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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