Asia-Pacific: Market for Granite, Sandstone And Other Building Stone 2022

Market Size for Granite, Sandstone And Other Building Stone in Asia-Pacific

In 2021, the Asia-Pacific market for granite, sandstone and other building stone increased by 21% to $X, rising for the second consecutive year after two years of decline. In general, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Granite, Sandstone And Other Building Stone in Asia-Pacific

In value terms, production of granite, sandstone and other building stone fell slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of 41%. The level of production peaked at $X in 2017; afterwards, it flattened through to 2021.

Exports of Granite, Sandstone And Other Building Stone

Exports in Asia-Pacific

In 2021, shipments abroad of granite, sandstone and other building stone increased by 106% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports recorded buoyant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of granite, sandstone and other building stone soared to $X in 2021. The total export value increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when exports increased by 36%. Over the period under review, the exports of hit record highs at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

India represented the key exporter of granite, sandstone and other building stone in Asia-Pacific, with the volume of exports reaching X tons, which was near 78% of total exports in 2021. It was distantly followed by China (X tons), committing a 21% share of total exports.

India was also the fastest-growing in terms of the granite, sandstone and other building stone exports, with a CAGR of +12.7% from 2012 to 2021. At the same time, China (+8.5%) displayed positive paces of growth. While the share of India (+7.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of China (-5.7 p.p.) displayed negative dynamics.

In value terms, India ($X) remains the largest granite, sandstone and other building stone supplier in Asia-Pacific, comprising 79% of total exports. The second position in the ranking was held by China ($X), with an 18% share of total exports.

In India, exports of granite, sandstone and other building stone expanded at an average annual rate of +1.7% over the period from 2012-2021.

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, waning by -37.2% against the previous year. Overall, the export price continues to indicate a abrupt slump. The pace of growth appeared the most rapid in 2013 an increase of 10% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was India ($X per ton), while China stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.7%).

Imports of Granite, Sandstone And Other Building Stone

Imports in Asia-Pacific

In 2021, overseas purchases of granite, sandstone and other building stone increased by 48% to X tons, rising for the second year in a row after two years of decline. In general, imports, however, recorded a perceptible setback. Over the period under review, imports of attained the maximum at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, imports of granite, sandstone and other building stone surged to $X in 2021. Total imports indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +66.5% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China prevails in stone structure, accounting for X tons, which was near 89% of total imports in 2021. The following importers - Taiwan (Chinese) (X tons), Bangladesh (X tons), Maldives (X tons) and Hong Kong SAR (X tons) - together made up 8.7% of total imports.

Imports into China increased at an average annual rate of +7.8% from 2012 to 2021. At the same time, Bangladesh (+50.6%), Maldives (+6.7%) and Taiwan (Chinese) (+5.7%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +50.6% from 2012-2021. By contrast, Hong Kong SAR (-3.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China, Bangladesh and Taiwan (Chinese) increased by +54, +2.1 and +1.8 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported granite, sandstone and other building stone in Asia-Pacific, comprising 91% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a 1.5% share of total imports. It was followed by Hong Kong SAR, with a 1.4% share.

In China, imports of granite, sandstone and other building stone expanded at an average annual rate of +5.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Bangladesh (+45.2% per year) and Hong Kong SAR (-5.3% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, growing by 10% against the previous year. Import price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for granite, sandstone and other building stone decreased by -3.5% against 2019 indices. The growth pace was the most rapid in 2013 when the import price increased by 109%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the import prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Maldives (+4.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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