Middle East: Sandstone Market 2024

Sandstone Market Size in the Middle East

The Middle Eastern sandstone market surged to $X in 2022, with an increase of 30% against the previous year. Over the period under review, consumption continues to indicate buoyant growth. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Sandstone Production in the Middle East

In value terms, sandstone production skyrocketed to $X in 2022 estimated in export price. Overall, production continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2019 when the production volume increased by 61%. The level of production peaked in 2022 and is likely to see gradual growth in the near future.

Sandstone Exports

Exports in the Middle East

Sandstone exports skyrocketed to X tons in 2022, rising by 238% on the previous year. Overall, exports saw a buoyant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

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

Exports by Country

In 2022, Turkey (X tons) represented the major exporter of sandstone, making up 74% of total exports. The United Arab Emirates (X tons) ranks second in terms of the total exports with a 13% share, followed by Syrian Arab Republic (5.2%). Palestine (X tons) and Oman (X tons) followed a long way behind the leaders.

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%) and Syrian Arab Republic (+9.2%) 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 +41.9% from 2012-2022. By contrast, Oman (-4.2%) and Palestine (-18.9%) illustrated a downward trend over the same period. Turkey (+62 p.p.) and the United Arab Emirates (+12 p.p.) significantly strengthened its position in terms of the total exports, while Oman and Palestine saw its share reduced by -5.1% and -61.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest sandstone supplier in the Middle East, comprising 70% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 25% share of total exports. It was followed by Syrian Arab Republic, with a 2.2% share.

In Turkey, sandstone exports increased 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 Syrian Arab Republic (+5.8% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, growing by 28% against the previous year. Overall, the export price recorded a resilient increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 a decline in the export price figures.

Sandstone Imports

Imports in the Middle East

In 2022, sandstone imports in the Middle East reduced to X tons, which is down by -5.2% compared with 2021. Overall, imports, however, recorded a slight expansion. The pace of growth was the most pronounced in 2013 when imports increased by 40% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, sandstone imports dropped to $X in 2022. Total imports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +3.6% 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 +74.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 90%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates was the main importing country with an import of around X tons, which resulted at 51% of total imports. Oman (X tons) held the second position in the ranking, followed by Kuwait (X tons), Saudi Arabia (X tons) and Qatar (X tons). All these countries together took approx. 45% share of total imports. Israel (X tons) followed a long way behind the leaders.

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 the Middle East, with a CAGR of +11.7% from 2012-2022. By contrast, Qatar (-14.3%) illustrated a downward trend over the same period. Saudi Arabia (+10 p.p.), the United Arab Emirates (+10 p.p.), Kuwait (+7.8 p.p.) and Oman (+5 p.p.) significantly strengthened its position in terms of the total imports, while Qatar saw its share reduced by -32.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported sandstone in the Middle East, comprising 54% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a 13% share of total imports. It was followed by Kuwait, with a 12% share.

In the United Arab Emirates, sandstone imports increased at an average annual rate of +5.0% over the period from 2012-2022. 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

In 2022, the import price in the Middle East amounted to $X per ton, shrinking by -3.2% against the previous year. Overall, the import price, however, showed a noticeable expansion. The pace of growth was the most pronounced in 2019 an increase of 43% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2021, and then reduced modestly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, 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

Frequently Asked Questions (FAQ) :