Malaysia: Natural Stone Sett Market 2024

Natural Stone Sett Market Size in Malaysia

The Malaysian natural stone sett market shrank to $X in 2022, waning by -5.6% 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). In general, consumption showed a drastic downturn. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Natural Stone Sett Exports

Exports from Malaysia

In 2022, shipments abroad of natural stone setts, kerbstones and flagstones increased by 10% to X tons, rising for the second consecutive year after two years of decline. Overall, exports continue to indicate a remarkable increase. The growth pace was the most rapid in 2017 with an increase of 623% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, natural stone sett exports surged to $X in 2022. Over the period under review, exports, however, recorded a noticeable setback. The most prominent rate of growth was recorded in 2017 with an increase of 483% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Saudi Arabia (X tons), Bahrain (X tons) and the Netherlands (X tons) were the main destinations of natural stone sett exports from Malaysia, with a combined 86% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Bahrain (with a CAGR of +96.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Bahrain ($X), Saudi Arabia ($X) and the Netherlands ($X) appeared to be the largest markets for natural stone sett exported from Malaysia worldwide, together comprising 53% of total exports.

Among the main countries of destination, Bahrain, with a CAGR of +74.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average natural stone sett export price stood at $X per ton in 2022, surging by 11% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt slump. The pace of growth was the most pronounced in 2014 an increase of 79%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to the Philippines ($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 Indonesia (+39.5%), while the prices for the other major destinations experienced a decline.

Natural Stone Sett Imports

Imports into Malaysia

In 2022, the amount of natural stone setts, kerbstones and flagstones imported into Malaysia fell slightly to X tons, with a decrease of -3% compared with 2021 figures. Overall, imports continue to indicate a abrupt decline. The pace of growth was the most pronounced in 2013 with an increase of 101%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, natural stone sett imports shrank to $X in 2022. Over the period under review, imports recorded a deep downturn. The growth pace was the most rapid in 2013 with an increase of 78%. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest natural stone sett supplier to Malaysia, accounting for a 62% share of total imports. Moreover, natural stone sett imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), threefold. Indonesia (X tons) ranked third in terms of total imports with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+2.9% per year) and Indonesia (-2.1% per year).

In value terms, China ($X) constituted the largest supplier of natural stone setts, kerbstones and flagstones to Malaysia, comprising 54% of total imports. The second position in the ranking was held by Vietnam ($X), with a 17% share of total imports. It was followed by Indonesia, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled -8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (-7.6% per year) and Indonesia (+0.6% per year).

Import Prices by Country

In 2022, the average natural stone sett import price amounted to $X per ton, declining by -4.5% against the previous year. Over the period under review, the import price showed a noticeable downturn. The most prominent rate of growth was recorded in 2017 when the average import price increased by 17%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a 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 Spain ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+2.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :