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

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

In 2021, the East Asian market for granite, sandstone and other building stone increased by 26% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +4.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked in 2021 and is expected to retain growth in the immediate term.

Production of Granite, Sandstone And Other Building Stone in Eastern Asia

In value terms, production of granite, sandstone and other building stone shrank to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a noticeable shrinkage. The most prominent rate of growth was recorded in 2020 when the production volume increased by 33% against the previous year. Over the period under review, production of hit record highs at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Exports of Granite, Sandstone And Other Building Stone

Exports in Eastern Asia

In 2021, approx. X tons of granite, sandstone and other building stone were exported in Eastern Asia; jumping by 629% compared with the previous year's figure. Over the period under review, exports showed a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of granite, sandstone and other building stone surged to $X in 2021. In general, exports recorded a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The biggest shipments were from China (X tons), together finishing at 99% of total export.

China was also the fastest-growing in terms of the granite, sandstone and other building stone exports, with a CAGR of +8.5% from 2012 to 2021. While the share of China (+3.1 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest granite, sandstone and other building stone supplier in Eastern Asia.

In China, exports of granite, sandstone and other building stone increased at an average annual rate of +15.9% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, falling by -35.4% against the previous year. Export price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 an increase of 91% against the previous year. The level of export peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to +6.7% per year.

Imports of Granite, Sandstone And Other Building Stone

Imports in Eastern Asia

In 2021, imports of granite, sandstone and other building stone in Eastern Asia surged to X tons, picking up by 55% on 2020 figures. Total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +7.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +78.9% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of granite, sandstone and other building stone surged to $X in 2021. Total imports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +74.5% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China prevails in stone structure, finishing at X tons, which was near 94% of total imports in 2021. Taiwan (Chinese) (X tons) and Hong Kong SAR (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the granite, sandstone and other building stone imports, with a CAGR of +7.8% from 2012 to 2021. At the same time, Taiwan (Chinese) (+5.7%) displayed positive paces of growth. By contrast, Hong Kong SAR (-3.3%) illustrated a downward trend over the same period. China (+4 p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR saw its share reduced by -2.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported granite, sandstone and other building stone in Eastern Asia, comprising 97% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 1.5% share of total imports.

From 2012 to 2021, the average annual growth rate of value in China stood at +5.6%. The remaining importing countries recorded the following average annual rates of imports growth: Hong Kong SAR (-5.3% per year) and Taiwan (Chinese) (-8.0% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, with an increase of 10% against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable reduction. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, 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 China (-2.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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