Malaysia: Crude Granite Market 2024

Crude Granite Market Size in Malaysia

The Malaysian crude granite market totaled $X in 2022, almost unchanged from the previous year. The market value increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Crude Granite Production in Malaysia

In value terms, crude granite production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 when the production volume increased by 27% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Crude Granite Exports

Exports from Malaysia

Crude granite exports from Malaysia dropped to X tons in 2022, waning by -9.8% compared with 2021. Over the period under review, exports faced a deep reduction. The pace of growth was the most pronounced in 2019 when exports increased by 191%. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, crude granite exports fell rapidly to $X in 2022. Overall, exports saw a abrupt contraction. The pace of growth appeared the most rapid in 2019 with an increase of 172%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons), Singapore (X tons) and Brunei Darussalam (X tons) were the main destinations of crude granite exports from Malaysia, with a combined 97% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Brunei Darussalam (with a CAGR of +12.9%), while the other leaders experienced mixed trend patterns.

In value terms, the United Arab Emirates ($X) remains the key foreign market for granite (crude) exports from Malaysia, comprising 62% of total exports. The second position in the ranking was taken by Singapore ($X), with a 24% share of total exports. It was followed by Indonesia, with a 0.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-11.9% per year) and Indonesia (-12.5% per year).

Export Prices by Country

The average crude granite export price stood at $X per ton in 2022, falling by -16% against the previous year. Overall, export price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crude granite export price increased by +36.8% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of 56%. As a result, the export price attained the peak level of $X per ton, and then shrank remarkably in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Brunei Darussalam ($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 Singapore (+7.0%), while the prices for the other major destinations experienced a decline.

Crude Granite Imports

Imports into Malaysia

After two years of growth, purchases abroad of granite (crude) decreased by -6.6% to X tons in 2022. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 344% against the previous year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, crude granite imports reduced to $X in 2022. In general, imports continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2020 with an increase of 387% against the previous year. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Australia (X tons) constituted the largest crude granite supplier to Malaysia, accounting for a 52% share of total imports. Moreover, crude granite imports from Australia exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. The third position in this ranking was held by China (X tons), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Australia totaled +3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+10.1% per year) and China (-9.9% per year).

In value terms, the largest crude granite suppliers to Malaysia were Australia ($X), China ($X) and India ($X), together comprising 90% of total imports. Italy, Singapore, Japan, Spain and Iran lagged somewhat behind, together comprising a further 7.2%.

Singapore, with a CAGR of +40.8%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average crude granite import price amounted to $X per ton, remaining stable against the previous year. Over the period under review, the import price recorded a drastic downturn. The growth pace was the most rapid in 2013 an increase of 47% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+15.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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