Kuwait: Market for Granite, Sandstone And Other Building Stone 2022

Market Size for Granite, Sandstone And Other Building Stone in Kuwait

The Kuwaiti market for granite, sandstone and other building stone surged to $X in 2021, increasing by 72% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Exports of Granite, Sandstone And Other Building Stone

Exports from Kuwait

In 2021, approx. X tons of granite, sandstone and other building stone were exported from Kuwait; waning by -10.5% against 2020 figures. Over the period under review, exports recorded a abrupt slump. The growth pace was the most rapid in 2019 with an increase of 608% against the previous year. Over the period under review, the exports of reached the maximum at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, exports of granite, sandstone and other building stone fell to $X in 2021. In general, exports faced a deep contraction. The pace of growth appeared the most rapid in 2019 when exports increased by 174% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), the United Arab Emirates (X tons) and Saudi Arabia (X tons) were the main destinations of exports of granite, sandstone and other building stone from Kuwait, together accounting for 98% 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 the United States (with a CAGR of +14.5%), while the other leaders experienced mixed trend patterns.

In value terms, the United Arab Emirates ($X), the United States ($X) and Saudi Arabia ($X) constituted the largest markets for granite, sandstone and other building stone exported from Kuwait worldwide, together comprising 91% of total exports.

Saudi Arabia, with a CAGR of +4.5%, saw the highest growth rate of the value of exports, in terms of 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 export price for granite, sandstone and other building stone stood at $X per ton in 2021, falling by -4.1% against the previous year. In general, the export price showed a abrupt contraction. The growth pace was the most rapid in 2018 an increase of 103%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was France ($X per ton), while the average price for exports to the United States ($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 France (+44.6%), while the prices for the other major destinations experienced a decline.

Imports of Granite, Sandstone And Other Building Stone

Imports into Kuwait

In 2021, imports of granite, sandstone and other building stone into Kuwait soared to X tons, with an increase of 57% compared with the year before. Overall, imports, however, continue to indicate a mild decline. The most prominent rate of growth was recorded in 2015 when imports increased by 159%. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of granite, sandstone and other building stone skyrocketed to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 136% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports of remained at a lower figure.

Imports by Country

In 2021, Syrian Arab Republic (X tons) constituted the largest granite, sandstone and other building stone supplier to Kuwait, accounting for a 51% share of total imports. Moreover, imports of granite, sandstone and other building stone from Syrian Arab Republic exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. The United Arab Emirates (X tons) ranked third in terms of total imports with a 16% share.

From 2012 to 2021, the average annual growth rate of volume from Syrian Arab Republic totaled +92.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+3.9% per year) and the United Arab Emirates (-2.4% per year).

In value terms, Syrian Arab Republic ($X), India ($X) and the United States ($X) constituted the largest granite, sandstone and other building stone suppliers to Kuwait, together accounting for 82% of total imports.

Among the main suppliers, Syrian Arab Republic, with a CAGR of +69.5%, 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 granite, sandstone and other building stone stood at $X per ton in 2021, with an increase of 14% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.4%. The pace of growth was the most pronounced in 2013 an increase of 40%. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+13.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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