Southern Asia: Calcareous Building Stone Market 2024

Calcareous Building Stone Market Size in Southern Asia

In 2021, the South Asian calcareous building stone market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, recorded a perceptible downturn. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Calcareous Building Stone Production in Southern Asia

In value terms, calcareous building stone production amounted to $X in 2021 estimated in export price. In general, production, however, saw a pronounced descent. The growth pace was the most rapid in 2015 with an increase of 20%. As a result, production reached the peak level of $X. From 2016 to 2021, production growth remained at a lower figure.

Calcareous Building Stone Exports

Exports in Southern Asia

In 2021, overseas shipments of calcareous building stone increased by 40% to X tons, rising for the fifth year in a row after three years of decline. Overall, exports saw a significant increase. The pace of growth was the most pronounced in 2017 when exports increased by 635% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, calcareous building stone exports skyrocketed to $X in 2021. In general, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 514% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in years to come.

Exports by Country

India dominates exports structure, reaching X tons, which was approx. 97% of total exports in 2021. Pakistan (X tons) followed a long way behind the leaders.

India was also the fastest-growing in terms of the calcareous building stone exports, with a CAGR of +47.5% from 2012 to 2021. Pakistan (-8.8%) illustrated a downward trend over the same period. India (+64 p.p.) significantly strengthened its position in terms of the total exports, while Pakistan saw its share reduced by -64.1% from 2012 to 2021, respectively.

In value terms, India ($X) remains the largest calcareous building stone supplier in Southern Asia, comprising 98% of total exports. The second position in the ranking was taken by Pakistan ($X), with a 2.3% share of total exports.

In India, calcareous building stone exports expanded at an average annual rate of +38.3% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, approximately reflecting the previous year. Overall, the export price saw a pronounced reduction. The pace of growth was the most pronounced in 2020 an increase of 23% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was India ($X per ton), while Pakistan stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (-2.6%).

Calcareous Building Stone Imports

Imports in Southern Asia

In 2021, purchases abroad of calcareous building stone decreased by -20.4% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports, however, recorded a buoyant increase. The growth pace was the most rapid in 2014 when imports increased by 324% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, calcareous building stone imports skyrocketed to $X in 2021. Overall, imports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2014 with an increase of 114% against the previous year. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, India (X tons) represented the main importer of calcareous building stone, achieving 61% of total imports. Bangladesh (X tons) took a 21% share (based on physical terms) of total imports, which put it in second place, followed by Nepal (8.2%). The following importers - Sri Lanka (X tons), Bhutan (X tons) and Afghanistan (X tons) - together made up 8.2% of total imports.

From 2012 to 2021, average annual rates of growth with regard to calcareous building stone imports into India stood at +9.0%. At the same time, Bhutan (+18.7%), Nepal (+10.8%) and Bangladesh (+8.6%) displayed positive paces of growth. Moreover, Bhutan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +18.7% from 2012-2021. By contrast, Sri Lanka (-8.1%) and Afghanistan (-10.4%) illustrated a downward trend over the same period. India (+9.9 p.p.), Bangladesh (+2.8 p.p.), Nepal (+2.3 p.p.) and Bhutan (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while Afghanistan and Sri Lanka saw its share reduced by -6.9% and -10.7% from 2012 to 2021, respectively.

In value terms, India ($X) constitutes the largest market for imported calcareous building stone in Southern Asia, comprising 74% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a 12% share of total imports. It was followed by Nepal, with a 4.8% share.

From 2012 to 2021, the average annual growth rate of value in India totaled +11.2%. In the other countries, the average annual rates were as follows: Bangladesh (+20.7% per year) and Nepal (+9.4% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2021, growing by 51% against the previous year. Over the period under review, the import price saw a mild expansion. The pace of growth was the most pronounced in 2020 when the import price increased by 90% against the previous year. Over the period under review, import prices reached the maximum in 2021 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Sri Lanka ($X per ton), while Bhutan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+11.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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