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

Market Size for Granules, Chippings And Powder Of Monumental Stone in the Middle East

The Middle Eastern market for granules, chippings and powder of monumental stone expanded sharply to $X in 2021, with an increase of 7.9% against the previous year. Over the period under review, consumption, however, enjoyed a strong increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Granules, Chippings And Powder Of Monumental Stone in the Middle East

In value terms, monumental stone granules and powder production rose sharply to $X in 2021 estimated in export price. In general, production, however, saw buoyant growth. The most prominent rate of growth was recorded in 2018 with an increase of 58%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Granules, Chippings And Powder Of Monumental Stone

Exports in the Middle East

In 2021, overseas shipments of granules, chippings and powder of monumental stone were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports recorded buoyant growth. The growth pace was the most rapid in 2017 when exports increased by 128% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, monumental stone granules and powder exports surged to $X in 2021. Overall, exports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2013 with an increase of 188% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Turkey was the major exporter of granules, chippings and powder of monumental stone in the Middle East, with the volume of exports accounting for X tons, which was near 56% of total exports in 2021. Iran (X tons) took a 28% share (based on physical terms) of total exports, which put it in second place, followed by Israel (9.1%). The following exporters - Syrian Arab Republic (X tons) and Palestine (X tons) - each reached a 5.3% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to monumental stone granules and powder exports from Turkey stood at +16.0%. At the same time, Palestine (+71.4%), Israel (+63.1%), Syrian Arab Republic (+33.0%) and Iran (+22.5%) displayed positive paces of growth. Moreover, Palestine emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +71.4% from 2012-2021. From 2012 to 2021, the share of Iran, Israel, Turkey, Palestine and Syrian Arab Republic increased by +13, +8.7, +7, +2.5 and +2 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest monumental stone granules and powder supplier in the Middle East, comprising 60% of total exports. The second position in the ranking was held by Iran ($X), with a 6.9% share of total exports. It was followed by Israel, with a 6.3% share.

In Turkey, monumental stone granules and powder exports increased at an average annual rate of +13.7% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Iran (+11.9% per year) and Israel (+23.0% per year).

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, with an increase of 11% against the previous year. Overall, the export price, however, continues to indicate a mild reduction. The pace of growth was the most pronounced in 2013 an increase of 65%. Over the period under review, the export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Syrian Arab Republic (+3.0%), while the other leaders experienced a decline in the export price figures.

Imports of Granules, Chippings And Powder Of Monumental Stone

Imports in the Middle East

For the third consecutive year, the Middle East recorded growth in overseas purchases of granules, chippings and powder of monumental stone, which increased by 8.1% to X tons in 2021. Total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +8.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -11.2% against 2017 indices. The pace of growth was the most pronounced in 2013 when imports increased by 89%. Over the period under review, imports attained the peak figure 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 reduced to $X in 2021. The total import value increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 30% against the previous year. As a result, imports attained the peak of $X, and then contracted in the following year.

Imports by Country

Israel prevails in imports structure, recording X tons, which was near 71% of total imports in 2021. Saudi Arabia (X tons) ranks second in terms of the total imports with a 7.3% share, followed by Oman (7.1%), Iraq (4.9%) and the United Arab Emirates (4.8%). Kuwait (X tons) took a minor share of total imports.

Imports into Israel increased at an average annual rate of +18.8% from 2012 to 2021. At the same time, Oman (+64.8%), Iraq (+49.5%) and the United Arab Emirates (+5.8%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +64.8% from 2012-2021. By contrast, Saudi Arabia (-6.6%) and Kuwait (-15.4%) illustrated a downward trend over the same period. While the share of Israel (+39 p.p.), Oman (+6.9 p.p.) and Iraq (+4.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Kuwait (-18.4 p.p.) and Saudi Arabia (-21.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Israel ($X) constitutes the largest market for imported granules, chippings and powder of monumental stone in the Middle East, comprising 44% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a 22% share of total imports. It was followed by Oman, with an 18% share.

In Israel, monumental stone granules and powder imports increased at an average annual rate of +5.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Saudi Arabia (-2.5% per year) and Oman (+51.0% per year).

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per ton, with a decrease of -21.3% against the previous year. Over the period under review, the import price continues to indicate a deep setback. The pace of growth was the most pronounced in 2020 an increase of 25% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+4.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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