Southern Asia: Market for Granite, Sandstone And Other Building Stone 2022

Market Size for Granite, Sandstone And Other Building Stone in Southern Asia

In 2021, after two years of growth, there was significant decline in the South Asian market for granite, sandstone and other building stone, when its value decreased by -15.8% to $X. Over the period under review, consumption, however, posted a buoyant increase. As a result, consumption reached the peak level of $X, and then contracted sharply in the following year.

Production of Granite, Sandstone And Other Building Stone in Southern Asia

In value terms, production of granite, sandstone and other building stone rose remarkably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 43% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Exports of Granite, Sandstone And Other Building Stone

Exports in Southern Asia

In 2021, overseas shipments of granite, sandstone and other building stone increased by 73% to X tons, rising for the second consecutive year after two years of decline. In general, exports continue to indicate a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of granite, sandstone and other building stone reached $X in 2021. The total export value increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when exports increased by 40%. Over the period under review, the exports of reached the maximum at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

India (X tons) represented roughly 100% of total exports in 2021.

India was also the fastest-growing in terms of the granite, sandstone and other building stone exports, with a CAGR of +12.7% 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, sandstone and other building stone supplier in Southern Asia.

In India, exports of granite, sandstone and other building stone increased at an average annual rate of +1.7% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, shrinking by -36.1% against the previous year. In general, the export price continues to indicate a deep reduction. The most prominent rate of growth was recorded in 2018 when the export price increased by 10%. Over the period under review, the export prices reached 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 -9.8% per year.

Imports of Granite, Sandstone And Other Building Stone

Imports in Southern Asia

In 2021, after two years of growth, there was significant decline in overseas purchases of granite, sandstone and other building stone, when their volume decreased by -21% to X tons. Over the period under review, imports, however, showed strong growth. The pace of growth appeared the most rapid in 2020 with an increase of 89%. As a result, imports reached the peak of X tons, and then declined markedly in the following year.

In value terms, imports of granite, sandstone and other building stone shrank to $X in 2021. In general, imports, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2020 with an increase of 37%. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

Bangladesh (X tons) and Maldives (X tons) prevails in stone structure, together constituting 86% of total imports. Pakistan (X tons) held the next position in the ranking, followed by India (X tons). All these countries together took near 11% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Pakistan (with a CAGR of +54.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Bangladesh ($X), Maldives ($X) and India ($X) constituted the countries with the highest levels of imports in 2021, together comprising 93% of total imports.

Bangladesh, with a CAGR of +45.2%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2021, growing by 12% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 82% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was India ($X per ton), while Pakistan ($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 (+5.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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