Eastern Asia: Natural Stone Sett Market 2024

Natural Stone Sett Market Size in Eastern Asia

The East Asian natural stone sett market surged to $X in 2022, increasing by 61% against the previous year. Overall, consumption saw significant growth. The level of consumption peaked in 2022 and is likely to continue growth in years to come.

Natural Stone Sett Production in Eastern Asia

In value terms, natural stone sett production surged to $X in 2022 estimated in export price. In general, production, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 78%. The level of production peaked in 2022 and is likely to continue growth in the near future.

Natural Stone Sett Exports

Exports in Eastern Asia

In 2022, overseas shipments of natural stone setts, kerbstones and flagstones decreased by -41.5% to X tons, falling for the second consecutive year after four years of growth. In general, exports showed a abrupt setback. The most prominent rate of growth was recorded in 2014 when exports increased by 47%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, natural stone sett exports shrank to $X in 2022. Over the period under review, exports, however, enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2020 with an increase of 94% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The biggest shipments were from China (X tons), together reaching 99.9% of total export.

China was also the fastest-growing in terms of the natural stone setts, kerbstones and flagstones exports, with a CAGR of -8.3% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest natural stone sett supplier in Eastern Asia.

In China, natural stone sett exports expanded at an average annual rate of +12.7% 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 59% against the previous year. Over the period under review, the export price saw significant growth. The pace of growth appeared the most rapid in 2013 an increase of 70% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +22.9% per year.

Natural Stone Sett Imports

Imports in Eastern Asia

In 2022, purchases abroad of natural stone setts, kerbstones and flagstones decreased by -2.9% to X tons, falling for the fourth consecutive year after five years of growth. In general, imports, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2016 with an increase of 103% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, natural stone sett imports rose markedly to $X in 2022. Total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +10.8% against 2020 indices. The pace of growth appeared the most rapid in 2016 with an increase of 40% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, South Korea (X tons) represented the main importer of natural stone setts, kerbstones and flagstones, committing 82% of total imports. It was distantly followed by Japan (X tons), creating a 14% share of total imports. Taiwan (Chinese) (X tons) took a little share of total imports.

South Korea was also the fastest-growing in terms of the natural stone setts, kerbstones and flagstones imports, with a CAGR of +17.4% from 2012 to 2022. Japan (-5.0%) and Taiwan (Chinese) (-7.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of South Korea increased by +47 percentage points.

In value terms, South Korea ($X) constitutes the largest market for imported natural stone setts, kerbstones and flagstones in Eastern Asia, comprising 66% of total imports. The second position in the ranking was taken by Japan ($X), with a 31% share of total imports.

In South Korea, natural stone sett imports increased at an average annual rate of +19.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Japan (-3.3% per year) and Taiwan (Chinese) (-5.8% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, picking up by 9.9% against the previous year. Over the period under review, the import price, however, recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2021 when the import price increased by 19% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :