Kenya: Granite Building Stone Market 2024

Granite Building Stone Market Size in Kenya

In 2021, after two years of growth, there was significant decline in the Kenyan granite building stone market, when its value decreased by -10.9% to $X. In general, the total consumption indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +37.6% against 2018 indices. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Granite Building Stone Exports

Exports from Kenya

In 2021, exports of granite building stone from Kenya surged to X tons, rising by 407% against 2020. In general, exports recorded a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, granite building stone exports surged to $X in 2021. Overall, exports, however, recorded a pronounced descent. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Uganda (X tons), Democratic Republic of the Congo (X tons) and Tanzania (X tons) were the main destinations of granite building stone exports from Kenya, together comprising 89% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Uganda (with a CAGR of +48.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for granite building stone exported from Kenya were Democratic Republic of the Congo ($X), Tanzania ($X) and Uganda ($X), with a combined 83% share of total exports. Somalia, Rwanda, Burundi and South Sudan lagged somewhat behind, together comprising a further 16%.

Somalia, with a CAGR of +43.6%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average granite building stone export price stood at $X per ton in 2021, surging by 2.1% against the previous year. In general, the export price, however, continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2020 an increase of 19% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Rwanda ($X per ton), while the average price for exports to South Sudan ($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 Democratic Republic of the Congo (+8.0%), while the prices for the other major destinations experienced more modest paces of growth.

Granite Building Stone Imports

Imports into Kenya

In 2021, after two years of growth, there was significant decline in supplies from abroad of granite building stone, when their volume decreased by -10.6% to X tons. In general, total imports indicated pronounced growth from 2012 to 2021: its volume increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +24.0% against 2018 indices. The most prominent rate of growth was recorded in 2014 with an increase of 102% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, granite building stone imports declined to $X in 2021. Overall, total imports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +2.9% 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 +42.7% against 2018 indices. The pace of growth was the most pronounced in 2014 when imports increased by 93% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, India (X tons) constituted the largest granite building stone supplier to Kenya, accounting for a 63% share of total imports. Moreover, granite building stone imports from India exceeded the figures recorded by the second-largest supplier, China (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume from India was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+8.5% per year) and Egypt (+29.9% per year).

In value terms, India ($X) constituted the largest supplier of granite building stone to Kenya, comprising 57% of total imports. The second position in the ranking was taken by China ($X), with a 24% share of total imports.

From 2012 to 2021, the average annual growth rate of value from India was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+16.1% per year) and Egypt (+22.6% per year).

Import Prices by Country

The average granite building stone import price stood at $X per ton in 2021, approximately mirroring the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 18%. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the average import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+7.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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