Southern Asia: Marble Building Stone Market 2024

Marble Building Stone Market Size in Southern Asia

The South Asian marble building stone market was estimated at $X in 2021, picking up by 4.3% against the previous year. The total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -6.2% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Marble Building Stone Production in Southern Asia

In value terms, marble building stone production stood at $X in 2021 estimated in export price. The total production indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +7.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -3.9% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 17%. The level of production peaked at $X in 2019; afterwards, it flattened through to 2021.

Marble Building Stone Exports

Exports in Southern Asia

In 2021, shipments abroad of marble building stone increased by 18% to X tons for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +1.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 54%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, marble building stone exports surged to $X in 2021. Total exports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.2% 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 +54.6% against 2015 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 19% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

In 2021, India (X tons) represented the key exporter of marble building stone, creating 83% of total exports. It was distantly followed by Pakistan (X tons), making up a 16% share of total exports.

Exports from India increased at an average annual rate of +2.1% from 2012 to 2021. At the same time, Pakistan (+6.7%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +6.7% from 2012-2021. From 2012 to 2021, the share of Pakistan and India increased by +5.9 and +3.1 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest marble building stone supplier in Southern Asia, comprising 96% of total exports. The second position in the ranking was taken by Pakistan ($X), with a 2.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in India stood at +10.2%.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, flattening at the previous year. Export price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, marble building stone export price decreased by -2.6% against 2019 indices. The pace of growth was the most pronounced in 2014 when the export price increased by 30% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was India ($X per ton), while Pakistan amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+7.9%).

Marble Building Stone Imports

Imports in Southern Asia

In 2021, supplies from abroad of marble building stone increased by 36% to X tons for the first time since 2015, thus ending a five-year declining trend. Over the period under review, imports, however, showed a abrupt setback. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, marble building stone imports surged to $X in 2021. In general, imports, however, showed a drastic downturn. The level of import peaked at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

India dominates imports structure, accounting for X tons, which was near 72% of total imports in 2021. Pakistan (X tons) held the second position in the ranking, followed by Maldives (X tons) and Sri Lanka (X tons). All these countries together held near 21% share of total imports. Bangladesh (X tons) and Nepal (X tons) followed a long way behind the leaders.

Imports into India decreased at an average annual rate of -14.2% from 2012 to 2021. At the same time, Maldives (+29.2%), Sri Lanka (+11.7%) and Nepal (+11.7%) displayed positive paces of growth. Moreover, Maldives emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +29.2% from 2012-2021. By contrast, Bangladesh (-3.8%) and Pakistan (-6.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Maldives, Sri Lanka, Pakistan, Nepal and Bangladesh increased by +5.5, +4.6, +4.2, +2.6 and +2 percentage points, respectively.

In value terms, India ($X) constitutes the largest market for imported marble building stone in Southern Asia, comprising 70% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a 9.1% share of total imports. It was followed by Maldives, with an 8.4% share.

From 2012 to 2021, the average annual growth rate of value in India stood at -15.3%. In the other countries, the average annual rates were as follows: Bangladesh (+16.6% per year) and Maldives (+35.2% per year).

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, picking up by 3.5% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the import price increased by 12%. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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 ($X per ton), while Nepal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+21.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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