Norway: Crude Granite Market 2024

Crude Granite Market Size in Norway

The Norwegian crude granite market fell to $X in 2022, approximately equating the previous year. In general, the total consumption indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +4.3% against 2020 indices. Crude granite consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Crude Granite Production in Norway

In value terms, crude granite production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production recorded a buoyant expansion. The pace of growth appeared the most rapid in 2015 with an increase of 771%. Crude granite production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Crude Granite Exports

Exports from Norway

Crude granite exports from Norway surged to X tons in 2022, jumping by 16% compared with 2021 figures. Overall, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 220% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, crude granite exports rose notably to $X in 2022. Over the period under review, exports, however, continue to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2020 with an increase of 268%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Denmark (X tons) was the main destination for crude granite exports from Norway, with a 90% share of total exports. Moreover, crude granite exports to Denmark exceeded the volume sent to the second major destination, Germany (X tons), more than tenfold. The third position in this ranking was held by the UK (X tons), with a 2.4% share.

From 2012 to 2022, the average annual growth rate of volume to Denmark totaled +55.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-5.2% per year) and the UK (-22.1% per year).

In value terms, Denmark ($X) remains the key foreign market for granite (crude) exports from Norway, comprising 79% of total exports. The second position in the ranking was taken by Germany ($X), with an 8.2% share of total exports. It was followed by the UK, with a 2.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Denmark totaled +45.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-7.2% per year) and the UK (-25.2% per year).

Export Prices by Country

The average crude granite export price stood at $X per ton in 2022, waning by -6.3% against the previous year. Over the period under review, the export price showed a pronounced setback. The pace of growth was the most pronounced in 2015 an increase of 73%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Denmark ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+40.6%), while the prices for the other major destinations experienced a decline.

Crude Granite Imports

Imports into Norway

In 2022, purchases abroad of granite (crude) decreased by -57.8% to X tons, falling for the second consecutive year after two years of growth. Overall, imports recorded a deep downturn. The growth pace was the most rapid in 2013 with an increase of 12%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, crude granite imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2013 when imports increased by 42%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Sweden (X tons) constituted the largest crude granite supplier to Norway, accounting for a 49% share of total imports. Moreover, crude granite imports from Sweden exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was taken by Finland (X tons), with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from Sweden stood at -14.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-15.4% per year) and Finland (-0.9% per year).

In value terms, Sweden ($X) constituted the largest supplier of granite (crude) to Norway, comprising 45% of total imports. The second position in the ranking was taken by China ($X), with a 20% share of total imports. It was followed by Belgium, with a 17% share.

From 2012 to 2022, the average annual growth rate of value from Sweden totaled -12.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-10.7% per year) and Belgium (+19.0% per year).

Import Prices by Country

The average crude granite import price stood at $X per ton in 2022, rising by 191% against the previous year. Overall, the import price enjoyed resilient growth. As a result, import 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 supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Finland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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