The import of plasters (calcined gypsum or calcium sulphate) to the Philippines has shown a consistent upward trend based on the forecasted data for 2024 through 2028. Specifically, the annual value for these imports is expected to increase from 4.8903 million USD in 2024 to 5.1223 million USD in 2028. Notably, these figures suggest a steady growth trajectory across five years.
The data for the previous years up to 2023 are not provided here, so the exact starting point in 2023 cannot be included in this analysis. However, we can observe a consistent year-on-year growth in the forecasted period:
- 2024: 4.8903 million USD
- 2025: 4.9501 million USD
- 2026: 5.0086 million USD
- 2027: 5.0661 million USD
- 2028: 5.1223 million USD
This steady increase translates to a compound annual growth rate (CAGR) of approximately 1.17% over the five-year period. Each year shows a modest yet consistent rise, indicative of a stable demand for these materials in the Philippines.
Future trends to watch for in this market include potential fluctuations in construction activities, which are a major consumer of plasters. Economic factors such as import tariffs, exchange rates, and changes in local manufacturing capabilities may also impact future import volumes and values. Additionally, advancements in construction technology and materials could influence the demand for traditional plasters.
