Northern America: Natural Stone Sett Market 2024

Natural Stone Sett Market Size in Northern America

In 2022, after three years of growth, there was decline in the North American natural stone sett market, when its value decreased by -3.9% to $X. In general, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Natural Stone Sett Production in Northern America

In value terms, natural stone sett production declined slightly to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the production volume increased by 57%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Natural Stone Sett Exports

Exports in Northern America

In 2022, overseas shipments of natural stone setts, kerbstones and flagstones were finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Total exports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 51%. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, natural stone sett exports soared to $X in 2022. Total exports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when exports increased by 52% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Canada was the main exporting country with an export of around X tons, which reached 88% of total exports. It was distantly followed by the United States (X tons), mixing up a 12% share of total exports.

Canada was also the fastest-growing in terms of the natural stone setts, kerbstones and flagstones exports, with a CAGR of +4.4% from 2012 to 2022. The United States experienced a relatively flat trend pattern. From 2012 to 2022, the share of Canada increased by +5 percentage points.

In value terms, Canada ($X) remains the largest natural stone sett supplier in Northern America, comprising 77% of total exports. The second position in the ranking was taken by the United States ($X), with a 23% share of total exports.

In Canada, natural stone sett exports increased at an average annual rate of +3.4% over the period from 2012-2022.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2022, dropping by -3.4% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the export price increased by 31% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+1.7%).

Natural Stone Sett Imports

Imports in Northern America

In 2022, natural stone sett imports in Northern America rose slightly to X tons, increasing by 2.3% against the previous year's figure. In general, imports saw buoyant growth. The most prominent rate of growth was recorded in 2014 when imports increased by 44% against the previous year. The volume of import peaked in 2022 and is likely to see steady growth in years to come.

In value terms, natural stone sett imports rose slightly to $X in 2022. Over the period under review, imports enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2016 when imports increased by 48%. The level of import peaked in 2022 and is likely to continue growth in the near future.

Imports by Country

The United States prevails in imports structure, resulting at X tons, which was near 93% of total imports in 2022. It was distantly followed by Canada (X tons), constituting a 7.3% share of total imports.

The United States was also the fastest-growing in terms of the natural stone setts, kerbstones and flagstones imports, with a CAGR of +19.2% from 2012 to 2022. At the same time, Canada (+2.2%) displayed positive paces of growth. The United States (+20 p.p.) significantly strengthened its position in terms of the total imports, while Canada saw its share reduced by -19.6% from 2012 to 2022, respectively.

In value terms, the United States ($X) constitutes the largest market for imported natural stone setts, kerbstones and flagstones in Northern America, comprising 89% of total imports. The second position in the ranking was taken by Canada ($X), with an 11% share of total imports.

In the United States, natural stone sett imports increased at an average annual rate of +22.1% over the period from 2012-2022.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2022, picking up by 1.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The growth pace was the most rapid in 2015 an increase of 38% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

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 Canada ($X per ton), while the United States stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+3.1%).

Source: IndexBox Platform

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