Saudi Arabia: Natural Stone Sett Market 2024

Natural Stone Sett Market Size in Saudi Arabia

The Saudi natural stone sett market skyrocketed to $X in 2022, with an increase of 55% against the previous year. Overall, consumption, however, saw a abrupt slump. Natural stone sett consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Natural Stone Sett Production in Saudi Arabia

In value terms, natural stone sett production soared to $X in 2022 estimated in export price. Over the period under review, production posted strong growth. Natural stone sett production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Natural Stone Sett Exports

Exports from Saudi Arabia

In 2022, overseas shipments of natural stone setts, kerbstones and flagstones increased by 17% to X tons for the first time since 2017, thus ending a four-year declining trend. Over the period under review, exports, however, continue to indicate a slight descent. The growth pace was the most rapid in 2017 with an increase of 194% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, natural stone sett exports totaled $X in 2022. Overall, exports, however, continue to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 261% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for natural stone sett exports from Saudi Arabia, with a 67% share of total exports. Moreover, natural stone sett exports to China exceeded the volume sent to the second major destination, Jordan (X tons), fourfold. The third position in this ranking was held by the United Arab Emirates (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to China stood at +12.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (+10.2% per year) and the United Arab Emirates (-12.8% per year).

In value terms, China ($X) remains the key foreign market for natural stone setts, kerbstones and flagstones exports from Saudi Arabia, comprising 53% of total exports. The second position in the ranking was taken by Jordan ($X), with a 23% share of total exports. It was followed by the United Arab Emirates, with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (+7.5% per year) and the United Arab Emirates (-3.4% per year).

Export Prices by Country

The average natural stone sett export price stood at $X per ton in 2022, dropping by -2.4% against the previous year. Over the period under review, the export price recorded a perceptible contraction. The most prominent rate of growth was recorded in 2016 when the average export price increased by 41%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Oman ($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 the United Arab Emirates (+10.8%), while the prices for the other major destinations experienced a decline.

Natural Stone Sett Imports

Imports into Saudi Arabia

After six years of decline, overseas purchases of natural stone setts, kerbstones and flagstones increased by 27% to X tons in 2022. In general, imports, however, faced a precipitous curtailment. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, natural stone sett imports expanded remarkably to $X in 2022. Overall, imports, however, faced a dramatic setback. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Egypt (X tons), Oman (X tons) and Italy (X tons) were the main suppliers of natural stone sett imports to Saudi Arabia, with a combined 97% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Egypt (with a CAGR of -14.0%), while purchases for the other leaders experienced a decline.

In value terms, Oman ($X) constituted the largest supplier of natural stone setts, kerbstones and flagstones to Saudi Arabia, comprising 59% of total imports. The second position in the ranking was held by Egypt ($X), with a 28% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Oman totaled -24.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (-21.9% per year) and Italy (-39.2% per year).

Import Prices by Country

The average natural stone sett import price stood at $X per ton in 2022, reducing by -13.3% against the previous year. In general, the import price showed a noticeable decrease. The growth pace was the most rapid in 2021 an increase of 28%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Italy ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+12.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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