Asia-Pacific: Crude Granite Market 2024

Crude Granite Market Size in Asia-Pacific

The Asia-Pacific crude granite market reduced modestly to $X in 2022, approximately equating 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 attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Crude Granite Production in Asia-Pacific

In value terms, crude granite production fell to $X in 2022 estimated in export price. In general, production, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2021 when the production volume increased by 70% against the previous year. As a result, production attained the peak level of $X, and then declined in the following year.

Crude Granite Exports

Exports in Asia-Pacific

In 2022, overseas shipments of granite (crude) decreased by -15.3% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 825%. As a result, the exports reached the peak of X tons, and then contracted significantly in the following year.

In value terms, crude granite exports declined to $X in 2022. In general, exports, however, showed a significant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 820% against the previous year. As a result, the exports reached the peak of $X, and then declined in the following year.

Exports by Country

India dominates exports structure, reaching X tons, which was near 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. India (+31 p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -28.1% from 2012 to 2022, respectively.

In value terms, India ($X) remains the largest crude granite supplier in Asia-Pacific, comprising 98% of total exports. The second position in the ranking was held by China ($X), with a 2% share of total exports.

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

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, approximately reflecting the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the export price increased by 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 failed to regain momentum.

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-Pacific

In 2022, the amount of granite (crude) imported in Asia-Pacific dropped significantly to X tons, declining by -23.9% against the year before. Overall, imports saw a deep downturn. The pace of growth appeared the most rapid in 2014 with an increase of 32%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, crude granite imports shrank to $X in 2022. Over the period under review, imports recorded a pronounced setback. The pace of growth was the most pronounced in 2014 with an increase of 24% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

China dominates imports structure, amounting to X tons, which was approx. 86% of total imports in 2022. It was distantly followed by Taiwan (Chinese) (X tons), comprising an 8.3% share of total imports. Hong Kong SAR (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the granite (crude) imports, with a CAGR of +1.2% from 2012 to 2022. Hong Kong SAR (-4.1%) and Taiwan (Chinese) (-12.1%) illustrated a downward trend over the same period. While the share of China (+60 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Taiwan (Chinese) (-2.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported granite (crude) in Asia-Pacific, comprising 92% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 3.1% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in China was relatively modest. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (-12.7% per year) and Hong Kong SAR (-3.8% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, with an increase of 17% against the previous year. Import price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +8.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 an increase of 143%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the import prices failed to regain momentum.

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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