Middle East: Market for Granite, Sandstone And Other Building Stone 2022

Market Size for Granite, Sandstone And Other Building Stone in the Middle East

In 2021, the Middle Eastern market for granite, sandstone and other building stone increased by 158% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, recorded a resilient increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Granite, Sandstone And Other Building Stone in the Middle East

In value terms, production of granite, sandstone and other building stone declined to $X in 2021 estimated in export price. In general, production, however, recorded a noticeable decline. The most prominent rate of growth was recorded in 2016 with an increase of 236% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production of growth remained at a lower figure.

Exports of Granite, Sandstone And Other Building Stone

Exports in the Middle East

In 2021, shipments abroad of granite, sandstone and other building stone increased by 9.3% to X tons, rising for the third consecutive year after two years of decline. In general, exports, however, saw a pronounced downturn. The most prominent rate of growth was recorded in 2016 with an increase of 253% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of granite, sandstone and other building stone soared to $X in 2021. Overall, exports, however, saw a mild decrease. The pace of growth appeared the most rapid in 2016 with an increase of 43%. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports of failed to regain momentum.

Exports by Country

Turkey represented the main exporting country with an export of around X tons, which amounted to 55% of total exports. Saudi Arabia (X tons) took the second position in the ranking, followed by Palestine (X tons), Iran (X tons), the United Arab Emirates (X tons) and Oman (X tons). All these countries together took approx. 40% share of total exports. Israel (X tons) took a relatively small share of total exports.

From 2012 to 2021, average annual rates of growth with regard to granite, sandstone and other building stone exports from Turkey stood at -7.4%. At the same time, the United Arab Emirates (+20.5%), Oman (+18.0%), Israel (+9.1%), Palestine (+6.6%) and Iran (+5.8%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +20.5% from 2012-2021. By contrast, Saudi Arabia (-3.0%) illustrated a downward trend over the same period. While the share of Palestine (+6.5 p.p.), the United Arab Emirates (+4.5 p.p.), Iran (+4.2 p.p.), Oman (+4.1 p.p.) and Israel (+1.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Turkey (-22.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest granite, sandstone and other building stone supplier in the Middle East, comprising 52% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 13% share of total exports. It was followed by Palestine, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Turkey totaled +1.9%. In the other countries, the average annual rates were as follows: Saudi Arabia (-14.2% per year) and Palestine (+11.4% per year).

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, growing by 8.6% against the previous year. In general, the export price showed temperate growth. The most prominent rate of growth was recorded in 2017 an increase of 191%. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Iran ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+10.1%), while the other leaders experienced mixed trends in the export price figures.

Imports of Granite, Sandstone And Other Building Stone

Imports in the Middle East

In 2021, purchases abroad of granite, sandstone and other building stone increased by 12% to X tons, rising for the second year in a row after two years of decline. Overall, imports, however, saw a pronounced descent. The most prominent rate of growth was recorded in 2017 with an increase of 29%. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of granite, sandstone and other building stone skyrocketed to $X in 2021. In general, imports, however, continue to indicate a pronounced downturn. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

The purchases of the five major importers of granite, sandstone and other building stone, namely the United Arab Emirates, Israel, Syrian Arab Republic, Qatar and Jordan, represented more than two-thirds of total import. It was distantly followed by Kuwait (X tons), comprising a 5.2% share of total imports. Turkey (X tons) held a minor share of total imports.

From 2012 to 2021, the biggest increases were in Israel (with a CAGR of +13.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Israel ($X), the United Arab Emirates ($X) and Qatar ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 51% share of total imports.

Israel, with a CAGR of +12.8%, recorded 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

In 2021, the import price in the Middle East amounted to $X per ton, with an increase of 11% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 21%. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Kuwait ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+2.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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