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

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

The Kenyan market for granules, chippings and powder of monumental stone skyrocketed to $X in 2021, increasing by 17% against the previous year. Overall, consumption, however, saw a slight curtailment. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

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

In value terms, monumental stone granules and powder production surged to $X in 2021 estimated in export price. In general, production, however, continues to indicate a pronounced shrinkage. The pace of growth appeared the most rapid in 2018 with an increase of 25% against the previous year. Monumental stone granules and powder production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Exports of Granules, Chippings And Powder Of Monumental Stone

Exports from Kenya

In 2021, approx. X tons of granules, chippings and powder of monumental stone were exported from Kenya; dropping by -22.3% against 2020. Overall, exports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 when exports increased by 66%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, monumental stone granules and powder exports contracted rapidly to $X in 2021. In general, exports recorded a deep slump. The pace of growth appeared the most rapid in 2017 with an increase of 60%. 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) was the main destination for monumental stone granules and powder exports from Kenya, accounting for a 97% share of total exports. It was followed by Rwanda (X tons), with a 1.9% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Uganda amounted to -5.0%.

In value terms, Uganda ($X) remains the key foreign market for granules, chippings and powder of monumental stone exports from Kenya, comprising 95% of total exports. The second position in the ranking was taken by Rwanda ($X), with a 2.4% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Uganda totaled -3.8%.

Export Prices by Country

In 2021, the average export price for granules, chippings and powder of monumental stone amounted to $X per ton, which is down by -3.3% against the previous year. In general, the export price continues to indicate a noticeable slump. The most prominent rate of growth was recorded in 2018 an increase of 27%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major overseas 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 Uganda totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Uganda (+1.2%).

Imports of Granules, Chippings And Powder Of Monumental Stone

Imports into Kenya

In 2021, overseas purchases of granules, chippings and powder of monumental stone increased by 9.1% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports posted significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 913%. Imports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, monumental stone granules and powder imports surged to $X in 2021. Overall, imports enjoyed a significant increase. The pace of growth appeared the most rapid in 2013 when imports increased by 1,037% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Italy (X tons) constituted the largest supplier of monumental stone granules and powder to Kenya, accounting for a 56% share of total imports. Moreover, monumental stone granules and powder imports from Italy exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. The third position in this ranking was taken by China (X tons), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Italy amounted to +32.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+55.2% per year) and China (+54.4% per year).

In value terms, Italy ($X), the United States ($X) and China ($X) constituted the largest monumental stone granules and powder suppliers to Kenya, with a combined 83% share of total imports.

Among the main suppliers, China, with a CAGR of +66.1%, recorded the highest rates of growth with regard to 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 import price for granules, chippings and powder of monumental stone stood at $X per ton in 2021, picking up by 13% against the previous year. Over the period under review, import price indicated a measured increase from 2012 to 2021: its price increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, monumental stone granules and powder import price increased by +87.3% against 2018 indices. The most prominent rate of growth was recorded in 2020 an increase of 44%. Over the period under review, average import prices attained the peak figure in 2021 and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+245.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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