GCC: Calcareous Building Stone Market 2024

Calcareous Building Stone Market Size in GCC

The GCC calcareous building stone market reduced notably to $X in 2021, with a decrease of -33.7% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2020, and then declined notably in the following year.

Calcareous Building Stone Production in GCC

In value terms, calcareous building stone production reached $X in 2021 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 19% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Calcareous Building Stone Exports

Exports in GCC

In 2021, exports of calcareous building stone in GCC dropped dramatically to X tons, which is down by -41.4% compared with the previous year. Over the period under review, exports, however, saw a significant increase. The growth pace was the most rapid in 2013 when exports increased by 455% against the previous year. The volume of export peaked at X tons in 2020, and then contracted rapidly in the following year.

In value terms, calcareous building stone exports contracted remarkably to $X in 2021. Overall, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 449% against the previous year. The level of export peaked at $X in 2020, and then reduced markedly in the following year.

Exports by Country

Saudi Arabia prevails in exports structure, accounting for X tons, which was approx. 96% of total exports in 2021. Oman (X tons) held a little share of total exports.

Exports from Saudi Arabia increased at an average annual rate of +35.6% from 2012 to 2021. At the same time, Oman (+116.9%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +116.9% from 2012-2021. While the share of Saudi Arabia (+26 p.p.) and Oman (+3.8 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) emerged as the largest calcareous building stone supplier in GCC, comprising 84% of total exports. The second position in the ranking was taken by Oman ($X), with a 15% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Saudi Arabia stood at +33.0%.

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, dropping by -52.4% against the previous year. Overall, the export price saw a deep downturn. The most prominent rate of growth was recorded in 2018 an increase of 76% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Oman ($X per ton), while Saudi Arabia totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-2.0%).

Calcareous Building Stone Imports

Imports in GCC

Calcareous building stone imports declined remarkably to X tons in 2021, waning by -89% compared with the previous year's figure. In general, imports, however, saw a significant expansion. The growth pace was the most rapid in 2018 when imports increased by 7,089%. The volume of import peaked at X tons in 2020, and then contracted dramatically in the following year.

In value terms, calcareous building stone imports reduced sharply to $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by 324%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Qatar dominates imports structure, finishing at X tons, which was approx. 95% of total imports in 2021. The United Arab Emirates (X tons) followed a long way behind the leaders.

Qatar was also the fastest-growing in terms of the calcareous building stone imports, with a CAGR of +83.1% from 2012 to 2021. At the same time, the United Arab Emirates (+9.5%) displayed positive paces of growth. Qatar (+83 p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates saw its share reduced by -39.5% from 2012 to 2021, respectively.

In value terms, Qatar ($X) and the United Arab Emirates ($X) appeared to be the countries with the highest levels of imports in 2021.

Qatar, with a CAGR of +0.9%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review.

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, surging by 110% against the previous year. Overall, the import price, however, continues to indicate a sharp contraction. The most prominent rate of growth was recorded in 2016 an increase of 112% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Qatar amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-11.1%).

Source: IndexBox Platform