China: Market for Gravel And Crushed Stone 2024

Market Size for Gravel And Crushed Stone in China

In 2021, after two years of decline, there was growth in the Chinese gravel and crushed stone market, when its value increased by 3.3% to $X. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Production of Gravel And Crushed Stone in China

In value terms, gravel and crushed stone production reached $X in 2021 estimated in export price. In general, the total production indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -1.3% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 58% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Exports of Gravel And Crushed Stone

Exports from China

In 2021, after four years of growth, there was significant decline in overseas shipments of gravel and crushed stone, when their volume decreased by -48.9% to X tons. Overall, exports, however, posted prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of 150% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020, and then declined rapidly in the following year.

In value terms, gravel and crushed stone exports dropped dramatically to $X in 2021. In general, exports, however, saw strong growth. The growth pace was the most rapid in 2013 with an increase of 98%. The exports peaked at $X in 2020, and then contracted notably in the following year.

Exports by Country

The United States (X tons) was the main destination for gravel and crushed stone exports from China, with a 1.2% share of total exports. Moreover, gravel and crushed stone exports to the United States exceeded the volume sent to the second major destination, Malaysia (X tons), threefold. The Philippines (X tons) ranked third in terms of total exports with a 0.3% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +14.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+4.1% per year) and the Philippines (+20.7% per year).

In value terms, the largest markets for gravel and crushed stone exported from China were the United States ($X), South Korea ($X) and Japan ($X), together comprising 12% of total exports. These countries were followed by Singapore, Saudi Arabia, Malaysia, Kenya, the Philippines, Oman, France, the UK, the United Arab Emirates and Maldives, which together accounted for a further 2.5%.

Oman, with a CAGR of +74.3%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average gravel and crushed stone export price stood at $X per ton in 2021, with an increase of 41% against the previous year. Over the period under review, the export price continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2014 when the average export price increased by 59%. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+65.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gravel And Crushed Stone

Imports into China

In 2021, purchases abroad of gravel and crushed stone decreased by -33.1% to X tons for the first time since 2014, thus ending a six-year rising trend. Over the period under review, imports, however, posted a significant increase. The most prominent rate of growth was recorded in 2019 when imports increased by 262% against the previous year. Imports peaked at X tons in 2020, and then reduced dramatically in the following year.

In value terms, gravel and crushed stone imports declined to $X in 2021. Overall, imports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2019 with an increase of 172%. Over the period under review, imports hit record highs at $X in 2020, and then contracted in the following year.

Imports by Country

In 2021, Vietnam (X tons) constituted the largest gravel and crushed stone supplier to China, accounting for a 80% share of total imports. It was followed by South Korea (X tons), with a 2.3% share of total imports. Italy (X tons) ranked third in terms of total imports with a 2.2% share.

From 2012 to 2021, the average annual growth rate of volume from Vietnam amounted to +91.3%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+49.5% per year) and Italy (+18.1% per year).

In value terms, Vietnam ($X) constituted the largest supplier of gravel and crushed stone to China, comprising 53% of total imports. The second position in the ranking was held by France ($X), with a 12% share of total imports. It was followed by South Korea, with an 8.3% share.

From 2012 to 2021, the average annual growth rate of value from Vietnam amounted to +120.8%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+17.4% per year) and South Korea (+71.4% per year).

Import Prices by Country

The average gravel and crushed stone import price stood at $X per ton in 2021, with an increase of 31% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 47% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+17.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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