Peru: Granite Building Stone Market 2024

Granite Building Stone Market Size in Peru

In 2021, the Peruvian granite building stone market increased by 55% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption continues to indicate a tangible increase. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Granite Building Stone Exports

Exports from Peru

For the fourth consecutive year, Peru recorded decline in shipments abroad of granite building stone, which decreased by -41.8% to X tons in 2021. Over the period under review, exports recorded a dramatic shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 133% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, granite building stone exports contracted sharply to $X in 2021. Overall, exports recorded a significant decrease. The most prominent rate of growth was recorded in 2017 when exports increased by 78% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for granite building stone exports from Peru, with a 90% share of total exports. Moreover, granite building stone exports to the United States exceeded the volume sent to the second major destination, Chile (X kg), more than tenfold. Canada (X kg) ranked third in terms of total exports with a 2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to -37.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (-29.3% per year) and Canada (-36.5% per year).

In value terms, the United States ($X) remains the key foreign market for granite building stone exports from Peru, comprising 65% of total exports. The second position in the ranking was held by Canada ($X), with a 10% share of total exports. It was followed by Chile, with a 9.7% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to -39.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-13.8% per year) and Chile (-18.4% per year).

Export Prices by Country

The average granite building stone export price stood at $X per ton in 2021, growing by 11% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by 59% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to the United States ($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 China (+51.8%), while the prices for the other major destinations experienced more modest paces of growth.

Granite Building Stone Imports

Imports into Peru

In 2021, overseas purchases of granite building stone were finally on the rise to reach X tons after two years of decline. Overall, imports showed a prominent expansion. The pace of growth appeared the most rapid in 2014 with an increase of 269%. As a result, imports reached the peak of X tons; afterwards, it flattened through to 2021.

In value terms, granite building stone imports skyrocketed to $X in 2021. Over the period under review, imports recorded a tangible expansion. The growth pace was the most rapid in 2014 when imports increased by 245%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Brazil (X tons), China (X tons) and India (X tons) were the main suppliers of granite building stone imports to Peru, together comprising 83% of total imports. These countries were followed by Spain, which accounted for a further 3.9%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +20.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest granite building stone suppliers to Peru were China ($X), Brazil ($X) and India ($X), with a combined 85% share of total imports. These countries were followed by Spain, which accounted for a further 2.7%.

Among the main suppliers, Spain, with a CAGR of +12.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average granite building stone import price stood at $X per ton in 2021, therefore, remained relatively stable against the previous year. Over the period under review, the import price continues to indicate a perceptible contraction. The growth pace was the most rapid in 2013 when the average import price increased by 11% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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