Eastern Asia: Granite Block Market 2024

Granite Block Market Size in Eastern Asia

In 2022, the East Asian granite block market increased by 4.2% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Granite Block Production in Eastern Asia

In value terms, granite block production fell to $X in 2022 estimated in export price. In general, production, however, posted a tangible increase. The pace of growth appeared the most rapid in 2019 with an increase of 129%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Granite Block Exports

Exports in Eastern Asia

Granite block exports surged to X tons in 2022, picking up by 30% against 2021 figures. Overall, exports, however, recorded a abrupt decrease. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, granite block exports surged to $X in 2022. In general, exports, however, saw a noticeable decrease. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China prevails in exports structure, amounting to X tons, which was approx. 94% of total exports in 2022. The following exporters - South Korea (X tons) and Japan (X tons) - each accounted for a 3.7% share of total exports.

China was also the fastest-growing in terms of the granite blocks and slabs exports, with a CAGR of -9.3% from 2012 to 2022. South Korea (-12.5%) and Japan (-17.2%) illustrated a downward trend over the same period. China (+11 p.p.) significantly strengthened its position in terms of the total exports, while Japan saw its share reduced by -2.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest granite block supplier in Eastern Asia, comprising 95% of total exports. The second position in the ranking was held by South Korea ($X), with a 1.7% share of total exports.

In China, granite block exports increased at an average annual rate of +1.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (-14.2% per year) and Japan (-24.3% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, jumping by 78% against the previous year. Export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +8.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, granite block export price increased by +92.5% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+12.2%), while the other leaders experienced a decline in the export price figures.

Granite Block Imports

Imports in Eastern Asia

Granite block imports skyrocketed to X tons in 2022, growing by 32% against the year before. Overall, imports, however, saw a noticeable setback. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, granite block imports soared to $X in 2022. Over the period under review, imports, however, saw a mild downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 36% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

China prevails in imports structure, amounting to X tons, which was near 93% of total imports in 2022. It was distantly followed by Taiwan (Chinese) (X tons), constituting a 6% share of total imports.

China experienced a relatively flat trend pattern with regard to volume of imports of granite blocks and slabs. Taiwan (Chinese) (-11.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +19 percentage points.

In value terms, China ($X) constitutes the largest market for imported granite blocks and slabs in Eastern Asia, comprising 94% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 5% share of total imports.

In China, granite block imports increased at an average annual rate of +1.3% over the period from 2012-2022.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, remaining stable against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the import price increased by 38%. Over the period under review, import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while Taiwan (Chinese) stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.0%).

Source: IndexBox Platform

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