India: Market for Granite, Sandstone And Other Building Stone 2022

Market Size for Granite, Sandstone And Other Building Stone in India

The Indian market for granite, sandstone and other building stone amounted to less than $X in 2021, flattening at the previous year. In general, consumption recorded a relatively flat trend pattern.

Production of Granite, Sandstone And Other Building Stone in India

In value terms, production of granite, sandstone and other building stone rose remarkably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when the production volume increased by 43% against the previous year. Over the period under review, production of hit record highs at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Exports of Granite, Sandstone And Other Building Stone

Exports from India

In 2021, shipments abroad of granite, sandstone and other building stone increased by 74% to X tons, rising for the second consecutive year after two years of decline. In general, exports saw buoyant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of granite, sandstone and other building stone amounted to $X in 2021. The total export value increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 40%. Over the period under review, the exports of attained the maximum at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for exports of granite, sandstone and other building stone from India, with a 439% share of total exports. Moreover, exports of granite, sandstone and other building stone to China exceeded the volume sent to the second major destination, the UK (X tons), twofold. Italy (X tons) ranked third in terms of total exports with a 27% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China totaled +37.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+69.7% per year) and Italy (+39.2% per year).

In value terms, the largest markets for granite, sandstone and other building stone exported from India were China ($X), the UK ($X) and the United States ($X).

In terms of the main countries of destination, Thailand, with a CAGR of +102.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for granite, sandstone and other building stone stood at $X per ton in 2021, which is down by -36.2% against the previous year. Over the period under review, the export price recorded a deep slump. The growth pace was the most rapid in 2018 an increase of 10% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Belgium ($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 United States (+6.0%), while the prices for the other major destinations experienced a decline.

Imports of Granite, Sandstone And Other Building Stone

Imports into India

In 2021, purchases abroad of granite, sandstone and other building stone decreased by -12.4% to X tons, falling for the seventh consecutive year after three years of growth. Overall, imports recorded a perceptible setback. The pace of growth appeared the most rapid in 2013 when imports increased by 35% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, imports of granite, sandstone and other building stone shrank to $X in 2021. In general, total imports indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +2.2% against 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 83%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports of remained at a lower figure.

Imports by Country

South Africa (X tons), Sri Lanka (X tons) and Brazil (X tons) were the main suppliers of imports of granite, sandstone and other building stone to India, with a combined 92% share of total imports. These countries were followed by Finland, Norway, Madagascar, Sweden, Ukraine and Angola, which together accounted for a further 34%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Sweden (with a CAGR of +117.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X), Brazil ($X) and Sri Lanka ($X) were the largest granite, sandstone and other building stone suppliers to India, with a combined 65% share of total imports. These countries were followed by Sweden, Norway, Finland, Madagascar, Angola and Ukraine, which together accounted for a further 19%.

Sweden, with a CAGR of +173.8%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for granite, sandstone and other building stone amounted to $X per ton, surging by 11% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +6.0%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 35%. The import price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was Brazil ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+26.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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