Philippines: Marble And Travertine Market 2022

Marble And Travertine Market Size in the Philippines

After nine years of growth, the Philippine marble and travertine market decreased by -2.4% to $X in 2021. In general, the total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +9.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +117.0% against 2012 indices. Over the period under review, the market reached the peak level at $X in 2020, and then dropped in the following year.

Marble And Travertine Production in the Philippines

In value terms, marble and travertine production declined to $X in 2021 estimated in export price. In general, production saw prominent growth. The pace of growth appeared the most rapid in 2013 with an increase of 77% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then reduced in the following year.

Marble And Travertine Exports

Exports from the Philippines

In 2021, the amount of marble and travertine exported from the Philippines declined notably to X tons, reducing by -88.2% against the previous year's figure. Over the period under review, exports showed a dramatic curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 77% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, marble and travertine exports dropped dramatically to $X in 2021. In general, exports faced a precipitous descent. The most prominent rate of growth was recorded in 2017 when exports increased by 98%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for marble and travertine exports from the Philippines, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to China stood at -29.6%.

In value terms, China ($X) also remains the key foreign market for marble and travertine exports from the Philippines.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to -30.0%.

Export Prices by Country

The average marble and travertine export price stood at $X per ton in 2021, reducing by -14.7% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average export price increased by 13%. Over the period under review, the average export prices hit record highs at $X per ton in 2020, and then shrank in the following year.

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

From 2012 to 2021, the rate of growth in terms of prices for China amounted to -0.5% per year.

Marble And Travertine Imports

Imports into the Philippines

In 2021, approx. X tons of marble and travertine were imported into the Philippines; picking up by 792% compared with the previous year. Overall, imports, however, showed a precipitous contraction. The pace of growth appeared the most rapid in 2019 when imports increased by 27,961%. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, marble and travertine imports surged to $X in 2021. Over the period under review, imports, however, continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2019 when imports increased by 25,971% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Japan (X tons), China (X tons) and Taiwan (Chinese) (X kg) were the main suppliers of marble and travertine imports to the Philippines.

From 2012 to 2021, the biggest increases were in Japan (with a CAGR of +147.9%), while purchases for the other leaders experienced a decline.

In value terms, Japan ($X), China ($X) and Taiwan (Chinese) ($X) constituted the largest marble and travertine suppliers to the Philippines, together comprising 99.9% of total imports.

In terms of the main suppliers, Japan, with a CAGR of +84.2%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average marble and travertine import price amounted to $X per ton, declining by -40.8% against the previous year. In general, the import price, however, posted a prominent expansion. The growth pace was the most rapid in 2016 when the average import price increased by 383%. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for Japan ($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) (+55.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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