Hong Kong SAR, China: Market for Granules, Chippings And Powder Of Monumental Stone 2024

Market Size for Granules, Chippings And Powder Of Monumental Stone in Hong Kong SAR, China

In 2021, after three years of growth, there was significant decline in the Hong Kong market for granules, chippings and powder of monumental stone, when its value decreased by -62.1% to $X. Over the period under review, consumption saw a abrupt slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Exports of Granules, Chippings And Powder Of Monumental Stone

Exports from Hong Kong SAR, China

For the fourth year in a row, Hong Kong SAR recorded growth in overseas shipments of granules, chippings and powder of monumental stone, which increased by 35% to X tons in 2021. Over the period under review, exports saw significant growth. The growth pace was the most rapid in 2019 when exports increased by 32,100%. Over the period under review, the exports attained the peak figure in 2021 and are likely to see steady growth in the immediate term.

In value terms, monumental stone granules and powder exports stood at $X in 2021. Overall, exports continue to indicate a significant increase. The growth pace was the most rapid in 2019 with an increase of 18,421%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

Exports by Country

Macao SAR (X tons) was the main destination for monumental stone granules and powder exports from Hong Kong SAR, with a 90% share of total exports. Moreover, monumental stone granules and powder exports to Macao SAR exceeded the volume sent to the second major destination, China (X tons), more than tenfold. Vietnam (X tons) ranked third in terms of total exports with a 2.8% share.

From 2012 to 2021, the average annual growth rate of volume to Macao SAR totaled +139.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-0.5% per year) and Vietnam (+16.9% per year).

In value terms, Macao SAR ($X) remains the key foreign market for granules, chippings and powder of monumental stone exports from Hong Kong SAR, comprising 91% of total exports. The second position in the ranking was taken by China ($X), with a 5.5% share of total exports. It was followed by Vietnam, with a 2.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Macao SAR amounted to +124.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-6.8% per year) and Vietnam (+9.5% per year).

Export Prices by Country

In 2021, the average export price for granules, chippings and powder of monumental stone amounted to $X per ton, dropping by -25.3% against the previous year. Over the period under review, the export price saw a perceptible contraction. The most prominent rate of growth was recorded in 2015 an increase of 229% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the highest price was recorded for prices to the United States ($X per ton) and Vietnam ($X per ton), while the average price for exports to Macao SAR ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+21.1%), while the prices for the other major destinations experienced a decline.

Imports of Granules, Chippings And Powder Of Monumental Stone

Imports into Hong Kong SAR, China

In 2021, purchases abroad of granules, chippings and powder of monumental stone decreased by -46.7% to X tons for the first time since 2016, thus ending a four-year rising trend. In general, imports, however, saw a significant increase. The pace of growth appeared the most rapid in 2017 when imports increased by 4,719%. Imports peaked at X tons in 2020, and then shrank notably in the following year.

In value terms, monumental stone granules and powder imports declined dramatically to $X in 2021. Over the period under review, imports, however, enjoyed a significant increase. The growth pace was the most rapid in 2017 when imports increased by 6,825%. Over the period under review, imports hit record highs at $X in 2020, and then fell notably in the following year.

Imports by Country

China (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of monumental stone granules and powder imports to Hong Kong SAR.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of +149.8%).

In value terms, the largest monumental stone granules and powder suppliers to Hong Kong SAR were China ($X) and Taiwan (Chinese) ($X).

Taiwan (Chinese), with a CAGR of +118.9%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review.

Import Prices by Country

In 2021, the average import price for granules, chippings and powder of monumental stone amounted to $X per ton, which is down by -40.3% against the previous year. Overall, the import price, however, continues to indicate a remarkable increase. The growth pace was the most rapid in 2015 when the average import price increased by 76%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for China stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+15.6%).

Source: IndexBox Platform

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