MENA: Granite Building Stone Market 2024

Granite Building Stone Market Size in MENA

In 2021, the MENA's granite building stone market increased by 54% to $X, rising for the second consecutive year after three years of decline. The total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +76.5% against 2019 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Granite Building Stone Production in MENA

In value terms, granite building stone production skyrocketed to $X in 2021 estimated in export price. In general, production enjoyed a strong expansion. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Granite Building Stone Exports

Exports in MENA

Granite building stone exports surged to X tons in 2021, increasing by 48% compared with 2020. In general, exports saw a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, granite building stone exports skyrocketed to $X in 2021. Total exports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +56.4% against 2017 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Turkey (X tons) represented the main exporter of granite building stone, comprising 42% of total exports. Iran (X tons) held a 22% share (based on physical terms) of total exports, which put it in second place, followed by Egypt (21%) and the United Arab Emirates (8.4%). The following exporters - Saudi Arabia (X tons) and Palestine (X tons) - each resulted at a 4.3% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Egypt (with a CAGR of +36.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest granite building stone supplying countries in MENA were Egypt ($X), Turkey ($X) and Iran ($X), together comprising 79% of total exports.

Among the main exporting countries, Egypt, with a CAGR of +32.6%, saw the highest rates of growth with regard to 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 export price in MENA stood at $X per ton in 2021, surging by 3.9% against the previous year. Overall, the export price, however, continues to indicate a deep reduction. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-1.0%), while the other leaders experienced a decline in the export price figures.

Granite Building Stone Imports

Imports in MENA

In 2021, after four years of decline, there was significant growth in supplies from abroad of granite building stone, when their volume increased by 6.4% to X tons. In general, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 26%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, granite building stone imports expanded notably to $X in 2021. Overall, imports, however, showed a mild downturn. The pace of growth was the most pronounced in 2013 with an increase of 43%. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Qatar (X tons), Saudi Arabia (X tons), the United Arab Emirates (X tons), Turkey (X tons) and Morocco (X tons) represented roughly 66% of total imports in 2021. It was distantly followed by Libya (X tons) and Iraq (X tons), together generating a 10% share of total imports. Oman (X tons), Israel (X tons), Algeria (X tons), Egypt (X tons), Kuwait (X tons) and Jordan (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Saudi Arabia (with a CAGR of +32.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Morocco ($X), Qatar ($X) and the United Arab Emirates ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 39% share of total imports. Turkey, Saudi Arabia, Israel, Egypt, Libya, Iraq, Jordan, Algeria, Oman and Kuwait lagged somewhat behind, together accounting for a further 53%.

Saudi Arabia, with a CAGR of +33.3%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, surging by 6.2% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the import price increased by 13% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Egypt ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Jordan (+9.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform