MENA: Sandstone Market 2024

Sandstone Market Size in MENA

In 2022, the MENA's sandstone market increased by 16% to $X, rising for the seventh year in a row after three years of decline. Overall, consumption enjoyed prominent growth. The level of consumption peaked in 2022 and is likely to see steady growth in years to come.

Sandstone Production in MENA

In value terms, sandstone production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production posted a remarkable increase. The growth pace was the most rapid in 2020 with an increase of 41% against the previous year. The level of production peaked in 2022 and is expected to retain growth in the immediate term.

Sandstone Exports

Exports in MENA

Sandstone exports skyrocketed to X tons in 2022, rising by 220% compared with 2021. In general, exports continue to indicate buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, sandstone exports soared to $X in 2022. Over the period under review, exports recorded resilient growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey represented the main exporter of sandstone in MENA, with the volume of exports reaching X tons, which was approx. 72% of total exports in 2022. The United Arab Emirates (X tons) held a 13% share (based on physical terms) of total exports, which put it in second place, followed by Syrian Arab Republic (5%). Palestine (X tons), Oman (X tons) and Egypt (X tons) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to sandstone exports from Turkey stood at +29.1%. At the same time, the United Arab Emirates (+41.9%), Egypt (+28.0%) and Syrian Arab Republic (+9.2%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in MENA, with a CAGR of +41.9% from 2012-2022. By contrast, Oman (-4.2%) and Palestine (-18.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey, the United Arab Emirates and Egypt increased by +60, +12 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest sandstone supplier in MENA, comprising 67% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 24% share of total exports. It was followed by Egypt, with a 3.6% share.

In Turkey, sandstone exports expanded at an average annual rate of +27.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (+48.7% per year) and Egypt (+30.9% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, rising by 13% against the previous year. Over the period under review, the export price continues to indicate a resilient expansion. The growth pace was the most rapid in 2020 when the export price increased by 21%. Over the period under review, the export prices attained the peak figure in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+4.8%), while the other leaders experienced mixed trends in the export price figures.

Sandstone Imports

Imports in MENA

In 2022, approx. X tons of sandstone were imported in MENA; which is down by -5.2% compared with the previous year. In general, imports, however, continue to indicate a modest increase. The most prominent rate of growth was recorded in 2021 when imports increased by 37%. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, sandstone imports declined to $X in 2022. Total imports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +73.3% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 89%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates represented the largest importing country with an import of around X tons, which amounted to 51% of total imports. It was distantly followed by Oman (X tons), Kuwait (X tons), Saudi Arabia (X tons) and Qatar (X tons), together mixing up a 45% share of total imports. Israel (X tons) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to sandstone imports into the United Arab Emirates stood at +3.8%. At the same time, Kuwait (+11.7%), Saudi Arabia (+8.0%), Oman (+5.9%) and Israel (+5.0%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in MENA, with a CAGR of +11.7% from 2012-2022. By contrast, Qatar (-14.3%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+12 p.p.), Saudi Arabia (+10 p.p.), Kuwait (+8 p.p.) and Oman (+5.3 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Qatar (-31.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported sandstone in MENA, comprising 53% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a 13% share of total imports. It was followed by Kuwait, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates amounted to +5.0%. In the other countries, the average annual rates were as follows: Saudi Arabia (+6.7% per year) and Kuwait (+13.3% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, falling by -3.2% against the previous year. Over the period under review, the import price, however, posted slight growth. The most prominent rate of growth was recorded in 2019 when the import price increased by 42% against the previous year. The level of import peaked at $X per ton in 2021, and then dropped in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+8.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform