Philippines: Market for Gravel, Pebbles And Crushed Stone for Concrete and Road Aggregates 2024

Market Size for Gravel, Pebbles And Crushed Stone for Concrete and Road Aggregates in the Philippines

The Philippine market for gravel, pebbles and crushed stone for concrete and road aggregates was finally on the rise to reach $X in 2021, after two years of decline. In general, consumption, however, showed a perceptible contraction. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Gravel, Pebbles And Crushed Stone for Concrete and Road Aggregates in the Philippines

In value terms, production of gravel, pebbles and crushed stone for concrete and road aggregates expanded remarkably to $X in 2021 estimated in export price. Over the period under review, production, however, saw a noticeable slump. Production of peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Gravel, Pebbles And Crushed Stone for Concrete and Road Aggregates

Exports from the Philippines

In 2021, shipments abroad of gravel, pebbles and crushed stone for concrete and road aggregates was finally on the rise to reach X tons after four years of decline. In general, exports, however, showed a deep setback. The most prominent rate of growth was recorded in 2014 when exports increased by 122% against the previous year. Over the period under review, the exports of hit record highs at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, exports of gravel, pebbles and crushed stone for concrete and road aggregates contracted to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt slump. The growth pace was the most rapid in 2014 with an increase of 65%. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Japan (X tons), South Korea (X tons) and Malaysia (X tons) were the main destinations of exports of gravel, pebbles and crushed stone for concrete and road aggregates from the Philippines, together accounting for 79% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of +6.3%), while the other leaders experienced a decline.

In value terms, Japan ($X) remains the key foreign market for gravel, pebbles and crushed stone for concrete and road aggregates exports from the Philippines, comprising 60% of total exports. The second position in the ranking was taken by South Korea ($X), with a 12% share of total exports. It was followed by Malaysia, with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Japan amounted to -1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (-9.3% per year) and Malaysia (-15.7% per year).

Export Prices by Country

In 2021, the average export price for gravel, pebbles and crushed stone for concrete and road aggregates amounted to $X per ton, which is down by -17.2% against the previous year. Over the period under review, the export price recorded a noticeable downturn. The pace of growth appeared the most rapid in 2016 when the average export price increased by 25%. Over the period under review, the average export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, the 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 Germany ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 Palau (+9.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gravel, Pebbles And Crushed Stone for Concrete and Road Aggregates

Imports into the Philippines

Imports of gravel, pebbles and crushed stone for concrete and road aggregates into the Philippines reduced remarkably to X tons in 2021, with a decrease of -18.7% compared with 2020. Over the period under review, imports recorded a deep downturn. The most prominent rate of growth was recorded in 2014 when imports increased by 55%. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of gravel, pebbles and crushed stone for concrete and road aggregates fell rapidly to $X in 2021. In general, imports saw a abrupt setback. The pace of growth was the most pronounced in 2014 with an increase of 67%. Imports peaked at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) was the main gravel, pebbles and crushed stone for concrete and road aggregates supplier to the Philippines, accounting for a approx. 100% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China stood at +9.2%.

In value terms, China ($X) constituted the largest supplier of gravel, pebbles and crushed stone for concrete and road aggregates to the Philippines.

From 2012 to 2021, the average annual growth rate of value from China amounted to +4.4%.

Import Prices by Country

In 2021, the average import price for gravel, pebbles and crushed stone for concrete and road aggregates amounted to $X per ton, falling by -30.3% against the previous year. Overall, the import price continues to indicate a perceptible descent. The pace of growth was the most pronounced in 2013 an increase of 63%. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for India amounted to +7.9% per year.

Source: IndexBox Platform

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