Indonesia: Granite Building Stone Market 2024

Granite Building Stone Market Size in Indonesia

In 2021, the Indonesian granite building stone market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +7.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Granite building stone consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Granite Building Stone Exports

Exports from Indonesia

For the fifth consecutive year, Indonesia recorded decline in overseas shipments of granite building stone, which decreased by -45.2% to X tons in 2021. In general, exports continue to indicate a abrupt decline. The growth pace was the most rapid in 2013 with an increase of 13% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, granite building stone exports dropped markedly to $X in 2021. Over the period under review, exports continue to indicate a abrupt setback. The growth pace was the most rapid in 2015 when exports increased by 23%. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Australia (X tons) was the main destination for granite building stone exports from Indonesia, accounting for a 90% share of total exports. It was followed by Singapore (X tons), with a 2.8% share of total exports. Malaysia (X tons) ranked third in terms of total exports with a 2.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Australia totaled +4.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-10.5% per year) and Malaysia (-17.3% per year).

In value terms, Australia ($X) remains the key foreign market for granite building stone exports from Indonesia, comprising 95% of total exports. The second position in the ranking was held by Japan ($X), with a 1% share of total exports. It was followed by Malaysia, with a 0.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Australia stood at +6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-33.8% per year) and Malaysia (-17.7% per year).

Export Prices by Country

In 2021, the average granite building stone export price amounted to $X per ton, reducing by -4.8% against the previous year. In general, the export price, however, continues to indicate a buoyant increase. The growth pace was the most rapid in 2014 when the average export price increased by 90%. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Singapore ($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 Taiwan (Chinese) (+16.4%), while the prices for the other major destinations experienced more modest paces of growth.

Granite Building Stone Imports

Imports into Indonesia

In 2021, supplies from abroad of granite building stone was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports saw a modest expansion. The most prominent rate of growth was recorded in 2014 with an increase of 22% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, granite building stone imports soared to $X in 2021. Overall, imports saw a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 86% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

India (X tons), China (X tons) and Brazil (X tons) were the main suppliers of granite building stone imports to Indonesia, together comprising 96% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +8.9%), while imports for the other leaders experienced a decline.

In value terms, India ($X), China ($X) and Italy ($X) were the largest granite building stone suppliers to Indonesia, together comprising 96% of total imports.

India, with a CAGR of +19.0%, saw the highest growth rate of the value of imports, among 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 granite building stone import price amounted to $X per ton, growing by 6.1% against the previous year. In general, import price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +7.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when the average import price increased by 52% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+11.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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