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

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

In 2021, after two years of growth, there was significant decline in the Indian market for granules, chippings and powder of monumental stone, when its value decreased by -9.7% to $X. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X, and then declined in the following year.

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

In value terms, monumental stone granules and powder production shrank to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.4% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when the production volume increased by 34%. As a result, production reached the peak level of $X, and then contracted in the following year.

Exports of Granules, Chippings And Powder Of Monumental Stone

Exports from India

In 2021, overseas shipments of granules, chippings and powder of monumental stone decreased by -74.4% to X tons, falling for the third year in a row after three years of growth. Overall, exports saw a abrupt curtailment. The pace of growth appeared the most rapid in 2017 when exports increased by 975% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, monumental stone granules and powder exports shrank sharply to $X in 2021. In general, exports continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2017 with an increase of 148% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Maldives (X tons) was the main destination for monumental stone granules and powder exports from India, accounting for a 57% share of total exports. Moreover, monumental stone granules and powder exports to Maldives exceeded the volume sent to the second major destination, Oman (X tons), fourfold. The third position in this ranking was taken by Sri Lanka (X tons), with a 7.2% share.

From 2012 to 2021, the average annual growth rate of volume to Maldives stood at -13.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (+33.5% per year) and Sri Lanka (+11.4% per year).

In value terms, Oman ($X) emerged as the key foreign market for granules, chippings and powder of monumental stone exports from India, comprising 42% of total exports. The second position in the ranking was taken by Maldives ($X), with a 15% share of total exports. It was followed by Australia, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Oman totaled +36.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (-17.9% per year) and Australia (-7.2% 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, falling by -38.2% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 258%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Bangladesh ($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 Nepal (+2.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Granules, Chippings And Powder Of Monumental Stone

Imports into India

In 2021, purchases abroad of granules, chippings and powder of monumental stone decreased by -70% to X tons, falling for the second consecutive year after two years of growth. Overall, imports saw a deep slump. The pace of growth appeared the most rapid in 2016 when imports increased by 21,151% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, monumental stone granules and powder imports declined notably to $X in 2021. In general, imports continue to indicate a precipitous decline. The most prominent rate of growth was recorded in 2016 with an increase of 14,025% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) was the main supplier of monumental stone granules and powder to India, with a 95% share of total imports. Moreover, monumental stone granules and powder imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from China stood at +4.6%.

In value terms, China ($X) constituted the largest supplier of granules, chippings and powder of monumental stone to India, comprising 81% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 15% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at -8.7%.

Import Prices by Country

In 2021, the average import price for granules, chippings and powder of monumental stone amounted to $X per ton, increasing by 18% against the previous year. In general, the import price, however, showed a abrupt downturn. The most prominent rate of growth was recorded in 2020 an increase of 87%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices 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 totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (-2.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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