Southern Asia: Market for Granules, Chippings And Powder Of Monumental Stone 2024

Market Size for Granules, Chippings And Powder Of Monumental Stone in Southern Asia

In 2021, the South Asian market for granules, chippings and powder of monumental stone decreased by -5% to $X for the first time since 2017, thus ending a three-year rising trend. The market value increased at an average annual rate of +2.8% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2020, and then reduced in the following year.

Production of Granules, Chippings And Powder Of Monumental Stone in Southern Asia

In value terms, monumental stone granules and powder production declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.4% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 32%. The level of production peaked at $X in 2020, and then contracted in the following year.

Exports of Granules, Chippings And Powder Of Monumental Stone

Exports in Southern Asia

In 2021, overseas shipments of granules, chippings and powder of monumental stone decreased by -74.6% to X tons, falling for the third year in a row after three years of growth. Overall, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 923%. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, monumental stone granules and powder exports declined significantly to $X in 2021. Over the period under review, exports showed a drastic downturn. The pace of growth was the most pronounced in 2017 with an increase of 144%. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, India (X tons) was the main exporter of granules, chippings and powder of monumental stone in Southern Asia, generating 99% of total export.

India was also the fastest-growing in terms of the granules, chippings and powder of monumental stone exports, with a CAGR of -12.2% from 2012 to 2021. While the share of India (+3.4 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest monumental stone granules and powder supplier in Southern Asia.

From 2012 to 2021, the average annual rate of growth in terms of value in India amounted to -12.6%.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2021, with a decrease of -36.8% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the export price increased by 237% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat 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 -0.5% per year.

Imports of Granules, Chippings And Powder Of Monumental Stone

Imports in Southern Asia

In 2021, overseas purchases of granules, chippings and powder of monumental stone decreased by -71.2% to X tons, falling for the fourth consecutive year after four years of growth. Overall, imports faced a deep downturn. The growth pace was the most rapid in 2015 with an increase of 122%. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, monumental stone granules and powder imports fell dramatically to $X in 2021. Over the period under review, imports, however, enjoyed a buoyant expansion. The growth pace was the most rapid in 2016 with an increase of 98%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Maldives (X tons), Sri Lanka (X tons) and Bangladesh (X tons) represented roughly 95% of total imports in 2021. The following importers - Bhutan (X tons) and Pakistan (X tons) - each finished at a 3.7% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Pakistan (with a CAGR of +18.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Bangladesh ($X) constitutes the largest market for imported granules, chippings and powder of monumental stone in Southern Asia, comprising 87% of total imports. The second position in the ranking was taken by Sri Lanka ($X), with a 9.7% share of total imports. It was followed by Maldives, with a 1.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Bangladesh totaled +18.0%. The remaining importing countries recorded the following average annual rates of imports growth: Sri Lanka (+2.0% per year) and Maldives (-24.6% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2021, increasing by 5.9% against the previous year. Overall, the import price saw significant growth. The growth pace was the most rapid in 2020 an increase of 103% against the previous year. Over the period under review, import prices reached the maximum in 2021 and is likely to see steady 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 Bangladesh ($X per ton), while Maldives ($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 (+30.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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