Indonesia: Granite Block Market 2024

Granite Block Market Size in Indonesia

In 2022, the Indonesian granite block market increased by 123% to $X, rising for the second year in a row after six years of decline. Over the period under review, consumption, however, saw a deep downturn. Granite block consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Granite Block Exports

Exports from Indonesia

Granite block exports from Indonesia declined to X tons in 2022, waning by -8.6% compared with 2021. In general, exports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2019 with an increase of 814%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, granite block exports contracted to $X in 2022. Over the period under review, exports showed a perceptible curtailment. The pace of growth was the most pronounced in 2019 when exports increased by 227%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for granite block exports from Indonesia, accounting for a 90% share of total exports. It was followed by Thailand (X tons), with a 2.7% share of total exports. Brazil (X tons) ranked third in terms of total exports with a 2.7% share.

From 2012 to 2022, the average annual growth rate of volume to China stood at +59.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+33.8% per year) and Brazil (-41.8% per year).

In value terms, China ($X) remains the key foreign market for granite blocks and slabs exports from Indonesia, comprising 62% of total exports. The second position in the ranking was held by Brazil ($X), with an 18% share of total exports. It was followed by Japan, with a 6% share.

From 2012 to 2022, the average annual growth rate of value to China amounted to +17.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (-21.9% per year) and Japan (-0.9% per year).

Export Prices by Country

The average granite block export price stood at $X per ton in 2022, with a decrease of -2% against the previous year. Overall, the export price saw a deep reduction. The most prominent rate of growth was recorded in 2018 an increase of 68% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+49.8%), while the prices for the other major destinations experienced mixed trend patterns.

Granite Block Imports

Imports into Indonesia

In 2022, purchases abroad of granite blocks and slabs increased by 106% to X tons, rising for the second year in a row after six years of decline. In general, imports, however, recorded a deep slump. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, granite block imports soared to $X in 2022. Overall, imports, however, showed a deep contraction. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest granite block supplier to Indonesia, with a 59% share of total imports. Moreover, granite block imports from Malaysia exceeded the figures recorded by the second-largest supplier, Australia (X tons), sixfold. The third position in this ranking was taken by Turkey (X tons), with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia stood at +63.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (-6.3% per year) and Turkey (+25.3% per year).

In value terms, the largest granite block suppliers to Indonesia were Australia ($X), Turkey ($X) and India ($X), together comprising 48% of total imports. China, South Africa, Taiwan (Chinese), Brazil, Malaysia, Thailand, the United Arab Emirates and Italy lagged somewhat behind, together accounting for a further 41%.

The United Arab Emirates, with a CAGR of +67.0%, 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

The average granite block import price stood at $X per ton in 2022, with an increase of 5.5% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average import price increased by 14% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Africa ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+15.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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