Southern Asia: Granite Building Stone Market 2024

Granite Building Stone Market Size in Southern Asia

The South Asian granite building stone market reduced to $X in 2021, waning by -12.3% against the previous year. Over the period under review, consumption recorded a perceptible descent. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Granite Building Stone Production in Southern Asia

In value terms, granite building stone production stood at $X in 2021 estimated in export price. In general, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 6.8%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Granite Building Stone Exports

Exports in Southern Asia

Granite building stone exports surged to X tons in 2021, picking up by 19% on the previous year. Total exports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +53.0% against 2015 indices. The most prominent rate of growth was recorded in 2013 with an increase of 29%. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, granite building stone exports surged to $X in 2021. The total export value increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 24%. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

India (X tons) represented roughly 99.9% of total exports in 2021.

India was also the fastest-growing in terms of the granite building stone exports, with a CAGR of +7.0% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest granite building stone supplier in Southern Asia.

From 2012 to 2021, the average annual growth rate of value in India stood at +2.9%.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2021, remaining constant against the previous year. Overall, the export price showed a noticeable slump. The growth pace was the most rapid in 2015 an increase of 1.1% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2021, the rate of growth in terms of prices for India amounted to -3.8% per year.

Granite Building Stone Imports

Imports in Southern Asia

In 2021, after two years of decline, there was significant growth in supplies from abroad of granite building stone, when their volume increased by 15% to X tons. Total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -21.6% against 2018 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 52%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, granite building stone imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 when imports increased by 29%. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

Imports by Country

Nepal prevails in imports structure, accounting for X tons, which was approx. 84% of total imports in 2021. It was distantly followed by Bangladesh (X tons), generating a 7.7% share of total imports. Sri Lanka (X tons) and India (X tons) took a minor share of total imports.

Nepal was also the fastest-growing in terms of the granite building stone imports, with a CAGR of +57.4% from 2012 to 2021. At the same time, Bangladesh (+5.8%) and Sri Lanka (+5.8%) displayed positive paces of growth. By contrast, India (-25.1%) illustrated a downward trend over the same period. Nepal (+81 p.p.) significantly strengthened its position in terms of the total imports, while India saw its share reduced by -42.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nepal ($X) constitutes the largest market for imported granite building stone in Southern Asia, comprising 66% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a 14% share of total imports. It was followed by Sri Lanka, with a 9.2% share.

In Nepal, granite building stone imports increased at an average annual rate of +51.5% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (+15.2% per year) and Sri Lanka (+12.1% per year).

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, rising by 8.9% against the previous year. In general, the import price, however, showed a mild downturn. The pace of growth was the most pronounced in 2019 an increase of 25%. Over the period under review, import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+9.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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