Eastern Asia: Crude Granite Market 2024

Crude Granite Market Size in Eastern Asia

The East Asian crude granite market expanded slightly to $X in 2022, with an increase of 2.4% against the previous year. The total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +8.5% 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 -19.7% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Crude Granite Production in Eastern Asia

In value terms, crude granite production totaled $X in 2022 estimated in export price. The total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +9.3% 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 -13.4% against 2020 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by 80%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Crude Granite Exports

Exports in Eastern Asia

Crude granite exports contracted sharply to X tons in 2022, with a decrease of -33.6% compared with the year before. Overall, exports, however, showed mild growth. The most prominent rate of growth was recorded in 2021 when exports increased by 772% against the previous year. As a result, the exports attained the peak of X tons, and then contracted significantly in the following year.

In value terms, crude granite exports declined significantly to $X in 2022. Over the period under review, exports, however, showed buoyant growth. The growth pace was the most rapid in 2021 with an increase of 628%. As a result, the exports reached the peak of $X, and then dropped sharply in the following year.

Exports by Country

China dominates exports structure, reaching X tons, which was approx. 97% of total exports in 2022. Japan (X tons) held a minor share of total exports.

China was also the fastest-growing in terms of the granite (crude) exports, with a CAGR of +2.0% from 2012 to 2022. Japan experienced a relatively flat trend pattern. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest crude granite supplier in Eastern Asia, comprising 86% of total exports. The second position in the ranking was taken by Japan ($X), with a 13% share of total exports.

In China, crude granite exports increased at an average annual rate of +11.4% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, with an increase of 4.5% against the previous year. Export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +6.9% 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 decreased by -12.7% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the export price increased by 86%. The level of export peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

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 Japan ($X per ton), while China totaled $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 Eastern Asia

Crude granite imports reduced sharply to X tons in 2022, waning by -24.8% on the year before. Overall, imports recorded a mild reduction. The pace of growth was the most pronounced in 2014 with an increase of 39% 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 reduced to $X in 2022. In general, imports continue to indicate a mild contraction. The growth pace was the most rapid in 2014 when imports increased by 25%. 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 prevails in imports structure, recording X tons, which was near 89% of total imports in 2022. It was distantly followed by Taiwan (Chinese) (X tons), constituting an 8.6% share of total imports. Hong Kong SAR (X tons) held a minor share of total imports.

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. China (+20 p.p.) significantly strengthened its position in terms of the total imports, while Taiwan (Chinese) saw its share reduced by -19% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported granite (crude) in Eastern Asia, comprising 95% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 3.2% share of total imports.

From 2012 to 2022, the average annual growth rate 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

The import price in Eastern Asia stood at $X per ton in 2022, surging by 17% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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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