Middle East: Natural Stone Sett Market 2024

Natural Stone Sett Market Size in the Middle East

In 2022, the Middle Eastern natural stone sett market increased by 11% to $X, rising for the second consecutive year after six years of decline. In general, consumption showed a slight curtailment. 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 Production in the Middle East

In value terms, natural stone sett production expanded remarkably to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.6% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the production volume increased by 22%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Natural Stone Sett Exports

Exports in the Middle East

Natural stone sett exports surged to X tons in 2022, with an increase of 20% on the previous year. Over the period under review, exports, however, showed a noticeable decline. The most prominent rate of growth was recorded in 2016 with an increase of 93%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, natural stone sett exports skyrocketed to $X in 2022. In general, exports, however, saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 44%. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Turkey was the main exporting country with an export of about X tons, which accounted for 73% of total exports. It was distantly followed by Saudi Arabia (X tons), making up a 21% share of total exports. Oman (X tons) took a minor share of total exports.

Turkey was also the fastest-growing in terms of the natural stone setts, kerbstones and flagstones exports, with a CAGR of +30.2% from 2012 to 2022. Saudi Arabia (-1.5%) and Oman (-23.8%) illustrated a downward trend over the same period. Turkey (+69 p.p.) significantly strengthened its position in terms of the total exports, while Oman saw its share reduced by -45.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest natural stone sett supplier in the Middle East, comprising 73% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 19% share of total exports.

In Turkey, natural stone sett exports expanded at an average annual rate of +33.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Saudi Arabia (-4.6% per year) and Oman (-27.0% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, picking up by 11% against the previous year. In general, the export price, however, saw a pronounced setback. The most prominent rate of growth was recorded in 2014 an increase of 21% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Oman ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+2.3%), while the other leaders experienced a decline in the export price figures.

Natural Stone Sett Imports

Imports in the Middle East

In 2022, overseas purchases of natural stone setts, kerbstones and flagstones increased by 5.6% to X tons, rising for the second consecutive year after five years of decline. Over the period under review, imports, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2015 when imports increased by 25% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, natural stone sett imports rose notably to $X in 2022. In general, imports, however, recorded a significant curtailment. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Iraq (X tons) and Kuwait (X tons) were the largest importers of natural stone setts, kerbstones and flagstones in 2022, finishing at approx. 35% and 34% of total imports, respectively. Saudi Arabia (X tons) ranks next in terms of the total imports with a 15% share, followed by the United Arab Emirates (6.9%). Qatar (X tons) and Israel (X tons) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Iraq (with a CAGR of +22.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Iraq ($X), Saudi Arabia ($X) and Qatar ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 64% of total imports. The United Arab Emirates, Kuwait and Israel lagged somewhat behind, together accounting for a further 28%.

Israel, with a CAGR of +24.8%, saw the highest growth rate of 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 the Middle East stood at $X per ton in 2022, growing by 8.8% against the previous year. Overall, the import price, however, recorded a abrupt slump. The growth pace was the most rapid in 2019 when the import price increased by 21% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Qatar ($X per ton), while Kuwait ($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 (+7.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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