Southern Asia: Sandstone Market 2024

Sandstone Market Size in Southern Asia

The South Asian sandstone market expanded remarkably to $X in 2022, rising by 13% against the previous year. Over the period under review, consumption, however, recorded a deep reduction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Sandstone Production in Southern Asia

In value terms, sandstone production declined notably to $X in 2022 estimated in export price. Overall, production saw a slight downturn. The pace of growth appeared the most rapid in 2021 with an increase of 93% against the previous year. As a result, production attained the peak level of $X, and then contracted significantly in the following year.

Sandstone Exports

Exports in Southern Asia

Sandstone exports fell sharply to X tons in 2022, declining by -50% on the previous year's figure. Over the period under review, exports, however, posted a buoyant increase. The pace of growth was the most pronounced in 2021 when exports increased by 475% against the previous year. As a result, the exports attained the peak of X tons, and then declined dramatically in the following year.

In value terms, sandstone exports contracted sharply to $X in 2022. In general, exports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 477%. As a result, the exports reached the peak of $X, and then declined markedly in the following year.

Exports by Country

The shipments of the one major exporters of sandstone, namely India, represented more than two-thirds of total export.

India was also the fastest-growing in terms of the sandstone exports, with a CAGR of +19.1% from 2012 to 2022. While the share of India (+1.6 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 sandstone supplier in Southern Asia.

From 2012 to 2022, the average annual growth rate of value in India stood at +15.3%.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the export price, however, showed a noticeable decline. The growth pace was the most rapid in 2020 an increase of 7.5%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, 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 2022, the rate of growth in terms of prices for India amounted to -3.2% per year.

Sandstone Imports

Imports in Southern Asia

In 2022, the amount of sandstone imported in Southern Asia rose notably to X tons, increasing by 12% on the previous year. Over the period under review, imports recorded a significant increase. The pace of growth was the most pronounced in 2014 with an increase of 520%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, sandstone imports expanded notably to $X in 2022. Overall, imports posted prominent growth. The pace of growth appeared the most rapid in 2014 when imports increased by 273% against the previous year. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Bangladesh prevails in imports structure, finishing at X tons, which was approx. 86% of total imports in 2022. It was distantly followed by Nepal (X tons), constituting a 7.3% share of total imports. Pakistan (X tons) and Maldives (X tons) followed a long way behind the leaders.

Bangladesh was also the fastest-growing in terms of the sandstone imports, with a CAGR of +40.0% from 2012 to 2022. At the same time, Nepal (+31.8%) and Maldives (+13.0%) displayed positive paces of growth. By contrast, Pakistan (-1.4%) illustrated a downward trend over the same period. While the share of Bangladesh (+54 p.p.) and Nepal (+2.4 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Maldives (-4.5 p.p.) and Pakistan (-37.1 p.p.) displayed negative dynamics.

In value terms, Bangladesh ($X) constitutes the largest market for imported sandstone in Southern Asia, comprising 67% of total imports. The second position in the ranking was taken by Maldives ($X), with a 14% share of total imports. It was followed by Nepal, with a 6.8% share.

In Bangladesh, sandstone imports expanded at an average annual rate of +29.4% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Maldives (+16.4% per year) and Nepal (+20.2% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, leveling off at the previous year. Over the period under review, the import price, however, showed a abrupt curtailment. The most prominent rate of growth was recorded in 2017 an increase of 20% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Maldives ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Maldives (+3.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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