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

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

In 2021, the Malaysian market for granules, chippings and powder of monumental stone increased by 4.2% to $X, rising for the fifth consecutive year after three years of decline. Overall, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

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

In value terms, monumental stone granules and powder production reached $X in 2021 estimated in export price. Overall, production, however, saw a mild descent. The pace of growth was the most pronounced in 2017 when the production volume increased by 14%. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Exports of Granules, Chippings And Powder Of Monumental Stone

Exports from Malaysia

Monumental stone granules and powder exports from Malaysia contracted dramatically to X tons in 2021, with a decrease of -27.4% compared with the previous year. Over the period under review, exports saw a abrupt curtailment. The growth pace was the most rapid in 2017 when exports increased by 139% against the previous year. 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 reached $X in 2021. In general, exports continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2017 with an increase of 106% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Singapore (X tons) was the main destination for monumental stone granules and powder exports from Malaysia, accounting for a 89% share of total exports. Moreover, monumental stone granules and powder exports to Singapore exceeded the volume sent to the second major destination, Maldives (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Singapore stood at -15.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (+0.3% per year) and Bangladesh (+50.4% per year).

In value terms, Singapore ($X) remains the key foreign market for granules, chippings and powder of monumental stone exports from Malaysia, comprising 72% of total exports. The second position in the ranking was held by Bangladesh ($X), with a 12% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Singapore stood at -10.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (+52.4% per year) and Maldives (+4.5% per year).

Export Prices by Country

The average export price for granules, chippings and powder of monumental stone stood at $X per ton in 2021, growing by 54% against the previous year. Overall, export price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +7.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, monumental stone granules and powder export price increased by +69.4% against 2018 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bangladesh ($X per ton), while the average price for exports to Singapore ($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 Singapore (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Granules, Chippings And Powder Of Monumental Stone

Imports into Malaysia

For the fourth consecutive year, Malaysia recorded decline in purchases abroad of granules, chippings and powder of monumental stone, which decreased by -17.3% to X tons in 2021. In general, imports faced a abrupt contraction. The most prominent rate of growth was recorded in 2014 when imports increased by 86%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, monumental stone granules and powder imports contracted sharply to $X in 2021. Overall, imports showed a abrupt contraction. The pace of growth appeared the most rapid in 2017 when imports increased by 81% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Turkey (X tons) constituted the largest monumental stone granules and powder supplier to Malaysia, with a 60% share of total imports. Moreover, monumental stone granules and powder imports from Turkey exceeded the figures recorded by the second-largest supplier, New Zealand (X tons), fivefold. The third position in this ranking was taken by India (X tons), with a 9.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Turkey amounted to +73.6%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (-21.8% per year) and India (+12.4% per year).

In value terms, Turkey ($X), New Zealand ($X) and India ($X) constituted the largest monumental stone granules and powder suppliers to Malaysia, with a combined 53% share of total imports.

Turkey, with a CAGR of +63.2%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average import price for granules, chippings and powder of monumental stone amounted to $X per ton, falling by -33.6% against the previous year. Over the period under review, import price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 an increase of 61%. Over the period under review, average import prices attained the maximum at $X per ton in 2020, and then contracted markedly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+14.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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