Asia: Crude Granite Market 2024

Crude Granite Market Size in Asia

The Asian crude granite market contracted modestly to $X in 2022, leveling off at the previous year. The market value increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Crude Granite Production in Asia

In value terms, crude granite production dropped to $X in 2022 estimated in export price. In general, production, however, saw a prominent increase. The pace of growth appeared the most rapid in 2021 with an increase of 65% against the previous year. As a result, production attained the peak level of $X, and then dropped in the following year.

Crude Granite Exports

Exports in Asia

In 2022, after two years of growth, there was significant decline in overseas shipments of granite (crude), when their volume decreased by -15.3% to X tons. Overall, exports, however, posted a significant increase. The growth pace was the most rapid in 2021 when exports increased by 817% against the previous year. As a result, the exports reached the peak of X tons, and then dropped notably in the following year.

In value terms, crude granite exports fell to $X in 2022. In general, exports, however, saw significant growth. The growth pace was the most rapid in 2021 with an increase of 814% against the previous year. As a result, the exports attained the peak of $X, and then shrank in the following year.

Exports by Country

India prevails in exports structure, recording X tons, which was approx. 95% of total exports in 2022. China (X tons) followed a long way behind the leaders.

India was also the fastest-growing in terms of the granite (crude) exports, with a CAGR of +29.6% from 2012 to 2022. At the same time, China (+2.0%) displayed positive paces of growth. From 2012 to 2022, the share of India increased by +32 percentage points.

In value terms, India ($X) remains the largest crude granite supplier in Asia, comprising 97% of total exports. The second position in the ranking was taken by China ($X), with a 2% share of total exports.

In India, crude granite exports increased at an average annual rate of +26.9% over the period from 2012-2022.

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, flattening at the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 17% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while China stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.1%).

Crude Granite Imports

Imports in Asia

In 2022, crude granite imports in Asia fell rapidly to X tons, waning by -22.9% on the previous year's figure. In general, imports continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2014 when imports increased by 32%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, crude granite imports reduced to $X in 2022. Overall, imports saw a pronounced curtailment. The pace of growth was the most pronounced in 2014 with an increase of 24% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

China prevails in imports structure, reaching X tons, which was approx. 82% of total imports in 2022. It was distantly followed by Taiwan (Chinese) (X tons), comprising a 7.9% share of total imports. Israel (X tons) and Hong Kong SAR (X tons) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to crude granite imports into China stood at +1.2%. At the same time, Israel (+44.0%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing importer imported in Asia, with a CAGR of +44.0% from 2012-2022. By contrast, Hong Kong SAR (-4.1%) and Taiwan (Chinese) (-12.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China and Israel increased by +56 and +3.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported granite (crude) in Asia, comprising 87% of total imports. The second position in the ranking was held by Israel ($X), with a 3.2% share of total imports. It was followed by Taiwan (Chinese), with a 2.9% share.

In China, crude granite imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Israel (+41.6% per year) and Taiwan (Chinese) (-12.7% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, surging by 17% against the previous year. Import price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +8.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the import price increased by 141% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+0.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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