China: Crude Granite Market 2024

Crude Granite Market Size in China

The Chinese crude granite market reached $X in 2022, growing by 1.6% against the previous year. Overall, the total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -14.7% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Crude Granite Production in China

In value terms, crude granite production expanded significantly to $X in 2022 estimated in export price. In general, the total production indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -5.3% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 49%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Crude Granite Exports

Exports from China

In 2022, the amount of granite (crude) exported from China reduced sharply to X tons, waning by -34.3% compared with the previous year. Overall, exports, however, enjoyed tangible growth. The pace of growth appeared the most rapid in 2021 with an increase of 818%. As a result, the exports attained the peak of X tons, and then dropped markedly in the following year.

In value terms, crude granite exports reduced notably to $X in 2022. In general, exports, however, saw a strong increase. The pace of growth appeared the most rapid in 2021 with an increase of 818%. As a result, the exports reached the peak of $X, and then declined significantly in the following year.

Exports by Country

The UK (X tons), Hong Kong SAR (X tons) and the United States (X tons) were the main destinations of crude granite exports from China, with a combined 73% share of total exports. Italy, Sweden and Japan lagged somewhat behind, together accounting for a further 11%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +100.5%), while the other leaders experienced more modest paces of growth.

In value terms, the UK ($X) emerged as the key foreign market for granite (crude) exports from China, comprising 43% of total exports. The second position in the ranking was taken by the United States ($X), with a 16% share of total exports. It was followed by Hong Kong SAR, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to the UK amounted to +45.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+32.3% per year) and Hong Kong SAR (+36.0% per year).

Export Prices by Country

The average crude granite export price stood at $X per ton in 2022, approximately reflecting the previous year. In general, export price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +9.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crude granite export price increased by +39.0% against 2019 indices. The pace of growth appeared the most rapid in 2013 when the average export price increased by 72%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+3.8%), while the prices for the other major destinations experienced a decline.

Crude Granite Imports

Imports into China

In 2022, after two years of growth, there was significant decline in supplies from abroad of granite (crude), when their volume decreased by -25.1% to X tons. The total import volume increased at an average annual rate of +1.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when imports increased by 38% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, crude granite imports dropped to $X in 2022. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when imports increased by 25%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, India (X tons) constituted the largest crude granite supplier to China, with a 81% share of total imports. Moreover, crude granite imports from India exceeded the figures recorded by the second-largest supplier, Brazil (X tons), tenfold. Angola (X tons) ranked third in terms of total imports with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from India stood at +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-6.5% per year) and Angola (+10.6% per year).

In value terms, India ($X) constituted the largest supplier of granite (crude) to China, comprising 78% of total imports. The second position in the ranking was taken by Brazil ($X), with a 12% share of total imports. It was followed by Angola, with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India stood at +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-7.5% per year) and Angola (+6.5% per year).

Import Prices by Country

The average crude granite import price stood at $X per ton in 2022, picking up by 18% against the previous year. Over the period under review, the import price, however, continues to indicate a mild decrease. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Norway ($X per ton), while the price for Finland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :