Philippines: Market for Granules, Chippings And Powder Of Monumental Stone 2024

Market Size for Granules, Chippings And Powder Of Monumental Stone in the Philippines

After three years of growth, the Philippine market for granules, chippings and powder of monumental stone decreased by -3.1% to $X in 2021. In general, consumption showed a relatively flat trend pattern. Monumental stone granules and powder consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Production of Granules, Chippings And Powder Of Monumental Stone in the Philippines

In value terms, monumental stone granules and powder production reduced modestly to $X in 2021 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 39% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Exports of Granules, Chippings And Powder Of Monumental Stone

Exports from the Philippines

Monumental stone granules and powder exports from the Philippines reduced sharply to X tons in 2021, dropping by -91.5% on the year before. Overall, exports saw a sharp downturn. The growth pace was the most rapid in 2017 with an increase of 16,687% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, monumental stone granules and powder exports reduced sharply to $X in 2021. In general, exports recorded a precipitous contraction. The pace of growth was the most pronounced in 2017 with an increase of 974%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Japan (X tons) was the main destination for monumental stone granules and powder exports from the Philippines, with a approx. 100% share of total exports.

From 2013 to 2021, the average annual rate of growth in terms of volume to Japan totaled -51.4%.

In value terms, Japan ($X) also remains the key foreign market for granules, chippings and powder of monumental stone exports from the Philippines.

From 2013 to 2021, the average annual growth rate of value to Japan totaled -26.8%.

Export Prices by Country

In 2021, the average export price for granules, chippings and powder of monumental stone amounted to $X per ton, growing by 155% against the previous year. Overall, the export price continues to indicate a significant expansion. The most prominent rate of growth was recorded in 2016 an increase of 6,915%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Japan.

From 2013 to 2021, the rate of growth in terms of prices for Japan amounted to +50.5% per year.

Imports of Granules, Chippings And Powder Of Monumental Stone

Imports into the Philippines

In 2021, supplies from abroad of granules, chippings and powder of monumental stone was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, saw a noticeable descent. The growth pace was the most rapid in 2016 when imports increased by 439% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, monumental stone granules and powder imports soared to $X in 2021. Overall, imports posted a moderate expansion. The growth pace was the most rapid in 2016 with an increase of 431%. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Finland (X tons), Vietnam (X tons) and Thailand (X tons) were the main suppliers of monumental stone granules and powder imports to the Philippines, with a combined 93% share of total imports. Germany and China lagged somewhat behind, together accounting for a further 6.6%.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +55.0%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Finland ($X) constituted the largest supplier of granules, chippings and powder of monumental stone to the Philippines, comprising 60% of total imports. The second position in the ranking was taken by Germany ($X), with a 21% share of total imports. It was followed by Vietnam, with a 7.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Finland was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+89.9% per year) and Vietnam (-4.9% per year).

Import Prices by Country

The average import price for granules, chippings and powder of monumental stone stood at $X per ton in 2021, which is down by -16.1% against the previous year. Overall, the import price, however, recorded a remarkable increase. The pace of growth was the most pronounced in 2019 an increase of 124%. Over the period under review, average import prices hit record highs at $X per ton in 2020, and then plummeted in the following year.

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 Germany ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+78.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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