GCC: Market for Marble And Travertine 2024

Market Size for Marble And Travertine in GCC

In 2022, the GCC marble and travertine crude market decreased by -1.8% to $X, falling for the fifth year in a row after two years of growth. In general, consumption continues to indicate a noticeable decrease. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Marble And Travertine in GCC

In value terms, marble and travertine crude production fell modestly to $X in 2022 estimated in export price. In general, production, however, showed a pronounced reduction. The pace of growth was the most pronounced in 2016 with an increase of 62%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Marble And Travertine

Exports in GCC

In 2022, exports of marble and travertine in GCC soared to X tons, jumping by 25% compared with the previous year's figure. In general, exports showed resilient growth. The pace of growth appeared the most rapid in 2017 with an increase of 226% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, marble and travertine crude exports soared to $X in 2022. Overall, exports saw a strong expansion. The pace of growth was the most pronounced in 2020 when exports increased by 191% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the crude exports failed to regain momentum.

Exports by Country

Saudi Arabia was the major exporter of marble and travertine in GCC, with the volume of exports finishing at X tons, which was near 47% of total exports in 2022. The United Arab Emirates (X tons) took the second position in the ranking, distantly followed by Oman (X tons). All these countries together held approx. 52% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Saudi Arabia (with a CAGR of +18.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest marble and travertine crude supplying countries in GCC were the United Arab Emirates ($X), Oman ($X) and Saudi Arabia ($X), together accounting for 95% of total exports.

Saudi Arabia, with a CAGR of +17.8%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, growing by 3.9% against the previous year. Over the period under review, the export price, however, continues to indicate a noticeable downturn. The growth pace was the most rapid in 2019 when the export price increased by 15%. Over the period under review, the export prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

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 Oman ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-0.8%), while the other leaders experienced a decline in the export price figures.

Imports of Marble And Travertine

Imports in GCC

In 2022, purchases abroad of marble and travertine decreased by -48.5% to X tons, falling for the second year in a row after two years of growth. In general, imports showed a abrupt decrease. The most prominent rate of growth was recorded in 2019 when imports increased by 129% against the previous year. Over the period under review, crude imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, marble and travertine crude imports declined remarkably to $X in 2022. Overall, imports showed a abrupt downturn. The most prominent rate of growth was recorded in 2019 when imports increased by 131%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Oman (X tons) and the United Arab Emirates (X tons) dominates imports structure, together constituting 90% of total imports. It was distantly followed by Qatar (X tons), achieving a 5.7% share of total imports. The following importers - Kuwait (X tons) and Bahrain (X tons) - each reached a 4.3% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Oman (with a CAGR of +11.1%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, the United Arab Emirates ($X), Oman ($X) and Bahrain ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 92% share of total imports.

Oman, with a CAGR of +0.5%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, falling by -25.1% against the previous year. Overall, the import price showed a noticeable reduction. The most prominent rate of growth was recorded in 2021 when the import price increased by 77% against the previous year. 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 Bahrain ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+6.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform