Ireland: Natural Stone Sett Market 2024

Natural Stone Sett Market Size in Ireland

In 2022, after four years of decline, there was significant growth in the Irish natural stone sett market, when its value increased by 97% to $X. In general, consumption continues to indicate noticeable growth. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Natural Stone Sett Production in Ireland

In value terms, natural stone sett production skyrocketed to $X in 2022 estimated in export price. In general, the total production indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the production volume increased by 41%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Natural Stone Sett Exports

Exports from Ireland

In 2022, overseas shipments of natural stone setts, kerbstones and flagstones decreased by 0% to X tons, falling for the second year in a row after three years of growth. Overall, exports saw significant growth. The growth pace was the most rapid in 2019 when exports increased by 221%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, natural stone sett exports stood at $X in 2022. Over the period under review, exports enjoyed significant growth. The growth pace was the most rapid in 2019 with an increase of 353% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

Belgium (X tons) was the main destination for natural stone sett exports from Ireland, accounting for a 69% share of total exports. Moreover, natural stone sett exports to Belgium exceeded the volume sent to the second major destination, the UK (X tons), threefold. Japan (X tons) ranked third in terms of total exports with a 4% share.

From 2012 to 2022, the average annual growth rate of volume to Belgium amounted to +99.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+808.2% per year) and Japan (+29.4% per year).

It was followed by Japan, with a 1.9% share.

From 2012 to 2022, the average annual growth rate of value to Belgium amounted to +105.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+788.8% per year) and Japan (+24.8% per year).

Export Prices by Country

In 2022, the average natural stone sett export price amounted to $X per ton, flattening at the previous year. In general, the export price showed a pronounced reduction. The most prominent rate of growth was recorded in 2014 an increase of 279% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a somewhat 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 Belgium ($X per ton), while the average price for exports to Japan ($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 Belgium (+2.9%), while the prices for the other major destinations experienced a decline.

Natural Stone Sett Imports

Imports into Ireland

Natural stone sett imports into Ireland was estimated at X tons in 2022, therefore, remained relatively stable against 2021 figures. Over the period under review, imports saw a pronounced expansion. The pace of growth appeared the most rapid in 2015 with an increase of 59% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, natural stone sett imports amounted to $X in 2022. In general, imports recorded a strong expansion. The pace of growth was the most pronounced in 2017 when imports increased by 48%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X tons), Vietnam (X tons) and India (X tons) were the main suppliers of natural stone sett imports to Ireland, together comprising 76% of total imports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +42.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Vietnam ($X) and the UK ($X) constituted the largest natural stone sett suppliers to Ireland, with a combined 72% share of total imports. India, Egypt, Portugal and Turkey lagged somewhat behind, together comprising a further 27%.

Among the main suppliers, Turkey, with a CAGR of +56.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average natural stone sett import price stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Over the period under review, the import price continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2017 an increase of 19% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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