Hong Kong SAR, China: Market for Granite, Sandstone And Other Building Stone 2022

Market Size for Granite, Sandstone And Other Building Stone in Hong Kong SAR, China

In 2021, the Hong Kong market for granite, sandstone and other building stone was finally on the rise to reach $X after five years of decline. In general, consumption, however, saw a perceptible downturn. Consumption of peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Exports of Granite, Sandstone And Other Building Stone

Exports from Hong Kong SAR, China

In 2021, overseas shipments of granite, sandstone and other building stone decreased by -20.5% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, exports faced a abrupt curtailment. The most prominent rate of growth was recorded in 2020 when exports increased by 132%. Over the period under review, the exports of attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, exports of granite, sandstone and other building stone totaled $X in 2021. Over the period under review, exports faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 when exports increased by 101% against the previous year. Over the period under review, the exports of attained the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons), Vietnam (X tons) and India (X tons) were the main destinations of exports of granite, sandstone and other building stone from Hong Kong SAR, with a combined 96% share of total exports.

From 2012 to 2021, the biggest increases were in India (with a CAGR of +2.4%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, China ($X) remains the key foreign market for granite, sandstone and other building stone exports from Hong Kong SAR, comprising 66% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 16% share of total exports. It was followed by the UK, with a 4.6% share.

From 2012 to 2021, the average annual growth rate of value to China amounted to -20.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (0.0% per year) and the UK (-27.3% per year).

Export Prices by Country

In 2021, the average export price for granite, sandstone and other building stone amounted to $X per ton, growing by 26% against the previous year. In general, the export price enjoyed a modest expansion. The most prominent rate of growth was recorded in 2017 when the average export price increased by 95% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was the UK ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+15.9%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Granite, Sandstone And Other Building Stone

Imports into Hong Kong SAR, China

In 2021, after five years of decline, there was significant growth in overseas purchases of granite, sandstone and other building stone, when their volume increased by 266% to X tons. In general, imports, however, continue to indicate a perceptible downturn. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, imports of granite, sandstone and other building stone skyrocketed to $X in 2021. Over the period under review, imports, however, saw a drastic downturn. Over the period under review, imports of reached the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

India (X tons), China (X tons) and Brazil (X tons) were the main suppliers of imports of granite, sandstone and other building stone to Hong Kong SAR, together accounting for 79% of total imports. These countries were followed by Taiwan (Chinese), Mozambique and Finland, which together accounted for a further 17%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mozambique (with a CAGR of +132.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and Taiwan (Chinese) ($X) were the largest granite, sandstone and other building stone suppliers to Hong Kong SAR, together comprising 70% of total imports. Mozambique, Brazil and Finland lagged somewhat behind, together accounting for a further 21%.

In terms of the main suppliers, Mozambique, with a CAGR of +90.5%, 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

The average import price for granite, sandstone and other building stone stood at $X per ton in 2021, falling by -7.2% against the previous year. Over the period under review, the import price showed a perceptible contraction. The most prominent rate of growth was recorded in 2013 an increase of 8.3% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Mozambique ($X per ton), while the price for Finland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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