GCC: Market for Granules, Chippings And Powder Of Monumental Stone 2024

Market Size for Granules, Chippings And Powder Of Monumental Stone in GCC

The GCC market for granules, chippings and powder of monumental stone stood at $X in 2021, with an increase of 10% against the previous year. Overall, consumption, however, enjoyed a strong increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Production of Granules, Chippings And Powder Of Monumental Stone in GCC

In value terms, monumental stone granules and powder production skyrocketed to $X in 2021 estimated in export price. In general, production, however, posted buoyant growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 96%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of Granules, Chippings And Powder Of Monumental Stone

Exports in GCC

In 2021, approx. X tons of granules, chippings and powder of monumental stone were exported in GCC; growing by 150% against the previous year. Overall, exports, however, showed a dramatic descent. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, monumental stone granules and powder exports skyrocketed to $X in 2021. Over the period under review, exports recorded prominent growth. The most prominent rate of growth was recorded in 2013 when exports increased by 413%. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates prevails in exports structure, reaching X tons, which was approx. 94% of total exports in 2021. The following exporters - Saudi Arabia (X tons) and Kuwait (X tons) - each amounted to a 3.9% share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the granules, chippings and powder of monumental stone exports, with a CAGR of +32.4% from 2012 to 2021. Kuwait (-12.1%) and Saudi Arabia (-49.3%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+93 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Saudi Arabia (-93.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest monumental stone granules and powder supplier in GCC, comprising 99% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 0.7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates stood at +28.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (-35.8% per year) and Kuwait (-17.2% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, increasing by 22% against the previous year. Over the period under review, the export price showed significant growth. The growth pace was the most rapid in 2013 when the export price increased by 496%. Over the period under review, the export prices reached the maximum in 2021 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+26.7%), while the other leaders experienced a decline in the export price figures.

Imports of Granules, Chippings And Powder Of Monumental Stone

Imports in GCC

In 2021, after two years of growth, there was significant decline in purchases abroad of granules, chippings and powder of monumental stone, when their volume decreased by -40.9% to X tons. In general, imports continue to indicate a pronounced shrinkage. The pace of growth appeared the most rapid in 2019 with an increase of 163%. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, monumental stone granules and powder imports dropped rapidly to $X in 2021. Over the period under review, imports, however, posted mild growth. The most prominent rate of growth was recorded in 2019 with an increase of 361% against the previous year. The level of import peaked at $X in 2020, and then declined dramatically in the following year.

Imports by Country

Saudi Arabia (X tons), Oman (X tons) and the United Arab Emirates (X tons) represented roughly 88% of total imports in 2021. It was distantly followed by Kuwait (X tons), making up a 9.9% share of total imports. Qatar (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Oman (with a CAGR of +64.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Oman ($X) and the United Arab Emirates ($X) were the countries with the highest levels of imports in 2021, with a combined 94% share of total imports.

Among the main importing countries, Oman, with a CAGR of +51.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, with an increase of 4.1% against the previous year. In general, the import price showed measured growth. The most prominent rate of growth was recorded in 2019 when the import price increased by 76% against the previous year. The level of import peaked in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+4.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform