Norway: Granite Building Stone Market 2024

Granite Building Stone Market Size in Norway

In 2021, the Norwegian granite building stone market increased by 100% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption recorded a resilient increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Granite Building Stone Production in Norway

In value terms, granite building stone production shrank to $X in 2021 estimated in export price. In general, production, however, continues to indicate a noticeable reduction. The growth pace was the most rapid in 2018 with an increase of 14% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Granite Building Stone Exports

Exports from Norway

In 2021, shipments abroad of granite building stone increased by 3.3% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports posted significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 151% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, granite building stone exports soared to $X in 2021. Over the period under review, exports posted significant growth. The pace of growth was the most pronounced in 2014 when exports increased by 109%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Sweden (X tons) was the main destination for granite building stone exports from Norway, accounting for a 91% share of total exports. Moreover, granite building stone exports to Sweden exceeded the volume sent to the second major destination, Denmark (X tons), more than tenfold. Germany (X tons) ranked third in terms of total exports with a 1.9% share.

From 2012 to 2021, the average annual growth rate of volume to Sweden stood at +41.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+12.1% per year) and Germany (+0.3% per year).

In value terms, Sweden ($X) remains the key foreign market for granite building stone exports from Norway, comprising 96% of total exports. The second position in the ranking was taken by Denmark ($X), with a 2% share of total exports. It was followed by Germany, with a 1.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Sweden stood at +48.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+1.7% per year) and Germany (-4.6% per year).

Export Prices by Country

The average granite building stone export price stood at $X per ton in 2021, picking up by 47% against the previous year. Over the period under review, export price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, granite building stone export price increased by +136.1% against 2018 indices. 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 for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to Denmark ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+4.9%), while the prices for the other major destinations experienced a decline.

Granite Building Stone Imports

Imports into Norway

In 2021, overseas purchases of granite building stone decreased by -58.6% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports saw a noticeable downturn. The most prominent rate of growth was recorded in 2018 with an increase of 65% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, granite building stone imports reduced to $X in 2021. Overall, imports continue to indicate a mild setback. The pace of growth was the most pronounced in 2018 with an increase of 41%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of granite building stone to Norway, with a 56% share of total imports. Moreover, granite building stone imports from China exceeded the figures recorded by the second-largest supplier, Portugal (X tons), threefold. India (X tons) ranked third in terms of total imports with an 8.4% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (+38.6% per year) and India (-3.9% per year).

In value terms, Estonia ($X) constituted the largest supplier of granite building stone to Norway, comprising 41% of total imports. The second position in the ranking was held by China ($X), with a 19% share of total imports. It was followed by India, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Estonia amounted to +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-12.3% per year) and India (-3.1% per year).

Import Prices by Country

The average granite building stone import price stood at $X per ton in 2021, rising by 107% against the previous year. In general, the import price posted a moderate expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Estonia ($X per ton), while the price for Portugal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+7.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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