Southern Asia: Natural Stone Sett Market 2024

Natural Stone Sett Market Size in Southern Asia

The South Asian natural stone sett market reached $X in 2022, rising by 4.7% against the previous year. Overall, consumption enjoyed significant growth. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Natural Stone Sett Production in Southern Asia

In value terms, natural stone sett production fell to $X in 2022 estimated in export price. In general, production, however, showed a prominent expansion. The pace of growth was the most pronounced in 2021 when the production volume increased by 134%. As a result, production reached the peak level of $X, leveling off in the following year.

Natural Stone Sett Exports

Exports in Southern Asia

In 2022, overseas shipments of natural stone setts, kerbstones and flagstones decreased by -57.5% to X tons, falling for the third consecutive year after three years of growth. Over the period under review, exports faced a sharp setback. The pace of growth was the most pronounced in 2019 with an increase of 38% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, natural stone sett exports fell dramatically to $X in 2022. Overall, exports recorded a abrupt decline. The pace of growth appeared the most rapid in 2019 when exports increased by 53% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

India prevails in exports structure, recording X tons, which was approx. 95% of total exports in 2022. It was distantly followed by Pakistan (X tons), creating a 5% share of total exports.

India was also the fastest-growing in terms of the natural stone setts, kerbstones and flagstones exports, with a CAGR of +40.7% from 2012 to 2022. Pakistan (-46.4%) illustrated a downward trend over the same period. India (+95 p.p.) significantly strengthened its position in terms of the total exports, while Pakistan saw its share reduced by -94.5% from 2012 to 2022, respectively.

In value terms, India ($X) remains the largest natural stone sett supplier in Southern Asia, comprising 97% of total exports. The second position in the ranking was held by Pakistan ($X), with a 3.2% share of total exports.

In India, natural stone sett exports expanded at an average annual rate of +38.8% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, approximately equating the previous year. In general, the export price continues to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2021 when the export price increased by 125% against the previous year. Over the period under review, the export prices reached the peak figure in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: 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 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+8.6%).

Natural Stone Sett Imports

Imports in Southern Asia

In 2022, after two years of decline, there was significant growth in overseas purchases of natural stone setts, kerbstones and flagstones, when their volume increased by 16% to X tons. Total imports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -29.7% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 108%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, natural stone sett imports surged to $X in 2022. Over the period under review, imports posted a noticeable increase. The most prominent rate of growth was recorded in 2017 when imports increased by 145% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

The purchases of the one major importers of natural stone setts, kerbstones and flagstones, namely Afghanistan, represented more than two-thirds of total import.

Afghanistan was also the fastest-growing in terms of the natural stone setts, kerbstones and flagstones imports, with a CAGR of +2.7% from 2012 to 2022. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, Afghanistan ($X) constitutes the largest market for imported natural stone setts, kerbstones and flagstones in Southern Asia.

From 2012 to 2022, the average annual rate of growth in terms of value in Afghanistan totaled +4.7%.

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, approximately mirroring the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The growth pace was the most rapid in 2014 when the import price increased by 19%. Over the period under review, import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Afghanistan.

From 2012 to 2022, the rate of growth in terms of prices for Afghanistan amounted to +1.9% per year.

Source: IndexBox Platform

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