GCC: Marble Building Stone Market 2024

Marble Building Stone Market Size in GCC

The GCC marble building stone market was estimated at $X in 2021, increasing by 12% against the previous year. Over the period under review, consumption enjoyed resilient growth. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in years to come.

Marble Building Stone Production in GCC

In value terms, marble building stone production dropped to $X in 2021 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the production volume increased by 29% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2021, production growth failed to regain momentum.

Marble Building Stone Exports

Exports in GCC

In 2021, the amount of marble building stone exported in GCC soared to X tons, rising by 30% compared with the previous year. Total exports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +94.0% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 49%. The volume of export peaked in 2021 and is likely to see gradual growth in the near future.

In value terms, marble building stone exports rose notably to $X in 2021. Total exports indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +56.5% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 40% against the previous year. The level of export peaked at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Oman dominates exports structure, recording X tons, which was approx. 95% of total exports in 2021. It was distantly followed by the United Arab Emirates (X tons), committing a 4.5% share of total exports.

Oman was also the fastest-growing in terms of the marble building stone exports, with a CAGR of +6.7% from 2012 to 2021. The United Arab Emirates experienced a relatively flat trend pattern. From 2012 to 2021, the share of Oman increased by +3.8 percentage points.

In value terms, Oman ($X) remains the largest marble building stone supplier in GCC, comprising 88% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with an 11% share of total exports.

In Oman, marble building stone exports expanded at an average annual rate of +1.4% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, waning by -14.3% against the previous year. Overall, the export price saw a noticeable slump. The most prominent rate of growth was recorded in 2015 an increase of 7%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the export prices remained at a somewhat lower figure.

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 Oman stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.3%).

Marble Building Stone Imports

Imports in GCC

In 2021, marble building stone imports in GCC expanded to X tons, growing by 1.6% on 2020 figures. Overall, imports saw a resilient increase. The most prominent rate of growth was recorded in 2018 with an increase of 58% against the previous year. The volume of import peaked in 2021 and is likely to continue growth in the near future.

In value terms, marble building stone imports soared to $X in 2021. Total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +9.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +82.7% against 2016 indices. The growth pace was the most rapid in 2018 when imports increased by 34% against the previous year. The level of import peaked in 2021 and is likely to see steady growth in the near future.

Imports by Country

In 2021, Saudi Arabia (X tons) and the United Arab Emirates (X tons) represented the key importers of marble building stone in GCC, together amounting to approx. 77% of total imports. Kuwait (X tons) took a 10% share (based on physical terms) of total imports, which put it in second place, followed by Qatar (8.1%). The following importers - Oman (X tons) and Bahrain (X tons) - each recorded a 4.5% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Saudi Arabia (with a CAGR of +38.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest marble building stone importing markets in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Qatar ($X), together comprising 84% of total imports.

In terms of the main importing countries, Saudi Arabia, with a CAGR of +18.2%, saw the highest growth rate of 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

The import price in GCC stood at $X per ton in 2021, rising by 20% against the previous year. In general, the import price, however, recorded a perceptible decrease. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Qatar ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Qatar (+2.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform