Saudi Arabia: Granite Building Stone Market 2024

Granite Building Stone Market Size in Saudi Arabia

The Saudi granite building stone market contracted to $X in 2021, which is down by -14.6% against the previous year. Over the period under review, consumption continues to indicate a noticeable downturn. Granite building stone consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Granite Building Stone Production in Saudi Arabia

In value terms, granite building stone production totaled $X in 2021 estimated in export price. In general, production, however, faced a abrupt curtailment. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Granite Building Stone Exports

Exports from Saudi Arabia

In 2021, approx. X tons of granite building stone were exported from Saudi Arabia; falling by -2.7% on 2020. Overall, exports continue to indicate a deep slump. The growth pace was the most rapid in 2019 with an increase of 55% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, granite building stone exports reached $X in 2021. In general, exports faced a abrupt decrease. The pace of growth was the most pronounced in 2019 with an increase of 53%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Jordan (X tons) was the main destination for granite building stone exports from Saudi Arabia, accounting for a 86% share of total exports. Moreover, granite building stone exports to Jordan exceeded the volume sent to the second major destination, Italy (X tons), more than tenfold. Kuwait (X tons) ranked third in terms of total exports with a 2% share.

From 2012 to 2021, the average annual growth rate of volume to Jordan stood at +8.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+35.5% per year) and Kuwait (-34.3% per year).

In value terms, Jordan ($X) remains the key foreign market for granite building stone exports from Saudi Arabia, comprising 92% of total exports. The second position in the ranking was taken by Italy ($X), with a 2.3% share of total exports. It was followed by Kuwait, with a 0.9% share.

From 2012 to 2021, the average annual growth rate of value to Jordan amounted to +12.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+40.0% per year) and Kuwait (-34.0% per year).

Export Prices by Country

The average granite building stone export price stood at $X per ton in 2021, picking up by 2.9% against the previous year. Over the period under review, the export price, however, saw a mild decline. The most prominent rate of growth was recorded in 2020 when the average export price increased by 35% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 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 the United States ($X per ton), while the average price for exports to Oman ($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 Jordan (+3.9%), while the prices for the other major destinations experienced more modest paces of growth.

Granite Building Stone Imports

Imports into Saudi Arabia

After two years of growth, supplies from abroad of granite building stone decreased by -18.8% to X tons in 2021. Over the period under review, imports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 233% against the previous year. Imports peaked at X tons in 2020, and then reduced remarkably in the following year.

In value terms, granite building stone imports dropped to $X in 2021. In general, imports, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 144% against the previous year. Over the period under review, imports hit record highs at $X in 2020, and then dropped in the following year.

Imports by Country

In 2021, India (X tons) constituted the largest granite building stone supplier to Saudi Arabia, accounting for a 79% share of total imports. Moreover, granite building stone imports from India exceeded the figures recorded by the second-largest supplier, Egypt (X tons), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from India totaled +69.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+346.1% per year) and China (+1.8% per year).

In value terms, India ($X) constituted the largest supplier of granite building stone to Saudi Arabia, comprising 81% of total imports. The second position in the ranking was held by Egypt ($X), with an 8.2% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from India stood at +58.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+485.2% per year) and China (+3.6% per year).

Import Prices by Country

In 2021, the average granite building stone import price amounted to $X per ton, rising by 10% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 36%. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+31.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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