ASEAN: Marble Building Stone Market 2024

Marble Building Stone Market Size in ASEAN

In 2021, after two years of decline, there was significant growth in the ASEAN marble building stone market, when its value increased by 6.3% to $X. The market value increased at an average annual rate of +4.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Marble Building Stone Production in ASEAN

In value terms, marble building stone production totaled $X in 2021 estimated in export price. The total production indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -11.9% against 2018 indices. The pace of growth was the most pronounced in 2013 with an increase of 24%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Marble Building Stone Exports

Exports in ASEAN

In 2021, approx. X tons of marble building stone were exported in ASEAN; picking up by 20% on 2020. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when exports increased by 22%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, marble building stone exports soared to $X in 2021. Total exports indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +69.4% against 2017 indices. The most prominent rate of growth was recorded in 2016 when exports increased by 32%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

Vietnam prevails in exports structure, reaching X tons, which was near 85% of total exports in 2021. It was distantly followed by Indonesia (X tons), making up a 5.3% share of total exports. The following exporters - Singapore (X tons), Myanmar (X tons) and the Philippines (X tons) - together made up 8% of total exports.

Exports from Vietnam increased at an average annual rate of +11.6% from 2012 to 2021. At the same time, Myanmar (+33.8%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +33.8% from 2012-2021. By contrast, Singapore (-5.6%), Indonesia (-16.8%) and the Philippines (-28.6%) illustrated a downward trend over the same period. While the share of Vietnam (+54 p.p.) and Myanmar (+2.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Singapore (-2.2 p.p.), Indonesia (-21.8 p.p.) and the Philippines (-32.1 p.p.) displayed negative dynamics.

In value terms, Vietnam ($X) remains the largest marble building stone supplier in ASEAN, comprising 81% of total exports. The second position in the ranking was taken by Indonesia ($X), with an 8.1% share of total exports. It was followed by Singapore, with a 4.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Vietnam totaled +10.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (-14.0% per year) and Singapore (-10.1% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, surging by 6.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.5%. The pace of growth was the most pronounced in 2016 an increase of 8.9% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+11.0%), while the other leaders experienced mixed trends in the export price figures.

Marble Building Stone Imports

Imports in ASEAN

In 2021, imports of marble building stone in ASEAN soared to X tons, jumping by 16% compared with the year before. In general, imports, however, showed a mild decrease. The most prominent rate of growth was recorded in 2019 when imports increased by 22%. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, marble building stone imports stood at $X in 2021. The total import value increased at an average annual rate of +1.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 26%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Indonesia (X tons) and Vietnam (X tons) represented roughly 53% of total imports in 2021. Singapore (X tons) ranks next in terms of the total imports with a 14% share, followed by Malaysia (12%), Thailand (7.1%), Cambodia (5.7%) and the Philippines (5.6%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Thailand (with a CAGR of +19.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest marble building stone importing markets in ASEAN were Vietnam ($X), Indonesia ($X) and Singapore ($X), together comprising 68% of total imports. These countries were followed by Malaysia, the Philippines, Cambodia and Thailand, which together accounted for a further 28%.

Thailand, with a CAGR of +18.7%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, reducing by -6.2% against the previous year. Over the last nine years, it increased at an average annual rate of +2.6%. The growth pace was the most rapid in 2018 an increase of 12%. The level of import peaked at $X per ton in 2020, and then dropped in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Vietnam ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cambodia (+9.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform