Estonia: Crude Granite Market 2024

Crude Granite Market Size in Estonia

The Estonian crude granite market totaled $X in 2022, approximately mirroring the previous year. In general, consumption recorded a slight contraction. Crude granite consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Crude Granite Production in Estonia

In value terms, crude granite production reached $X in 2022 estimated in export price. Overall, production saw a mild decrease. The pace of growth appeared the most rapid in 2019 with an increase of 14% against the previous year. Crude granite production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Crude Granite Exports

Exports from Estonia

In 2022, overseas shipments of granite (crude) decreased by -22% to X tons, falling for the second year in a row after three years of growth. Over the period under review, exports, however, showed a resilient increase. The most prominent rate of growth was recorded in 2015 with an increase of 235%. Over the period under review, the exports reached the maximum at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, crude granite exports amounted to $X in 2022. In general, exports, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2020 with an increase of 322%. 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

New Zealand (X tons), Ireland (X tons) and Switzerland (X tons) were the main destinations of crude granite exports from Estonia, with a combined 58% share of total exports. Israel, the UK, the United States, Norway, Spain, Serbia, Italy and Finland lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +91.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($X), the UK ($X) and the United States ($X) constituted the largest markets for crude granite exported from Estonia worldwide, with a combined 62% share of total exports.

Among the main countries of destination, the UK, with a CAGR of +221.9%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average crude granite export price stood at $X per ton in 2022, growing by 36% against the previous year. Overall, export price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +3.1% 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 increased by +113.5% against 2018 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 destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Finland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+68.5%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Granite Imports

Imports into Estonia

In 2022, purchases abroad of granite (crude) decreased by -55.3% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports faced a abrupt downturn. The pace of growth appeared the most rapid in 2020 when imports increased by 632%. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, crude granite imports reduced dramatically to $X in 2022. In general, imports showed a abrupt contraction. The most prominent rate of growth was recorded in 2020 with an increase of 734% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Russia (X tons) and Finland (X tons) were the main suppliers of crude granite imports to Estonia.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Russia (with a CAGR of +11.4%).

In value terms, Russia ($X) and Finland ($X) were the largest crude granite suppliers to Estonia.

In terms of the main suppliers, Russia, with a CAGR of -0.3%, saw the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

The average crude granite import price stood at $X per ton in 2022, increasing by 17% against the previous year. Overall, import price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crude granite import price increased by +95.2% against 2018 indices. The growth pace was the most rapid in 2019 an increase of 57%. Over the period under review, average import prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Finland ($X per ton), while the price for Russia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+7.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform