Sri Lanka: Market for Granite, Sandstone And Other Building Stone 2022

Market Size for Granite, Sandstone And Other Building Stone in Sri Lanka

The Sri Lankan market for granite, sandstone and other building stone stood at less than $X in 2021, approximately mirroring the previous year. Over the period under review, consumption showed a relatively flat trend pattern.

Production of Granite, Sandstone And Other Building Stone in Sri Lanka

In value terms, production of granite, sandstone and other building stone skyrocketed to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 108%. Over the period under review, production of attained the peak level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of Granite, Sandstone And Other Building Stone

Exports from Sri Lanka

In 2021, the amount of granite, sandstone and other building stone exported from Sri Lanka soared to X tons, growing by 23% against the year before. Overall, exports recorded a resilient increase. The pace of growth was the most pronounced in 2013 with an increase of 91% against the previous year. Over the period under review, the exports of attained the peak figure at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, exports of granite, sandstone and other building stone skyrocketed to $X in 2021. Over the period under review, exports saw buoyant growth. The most prominent rate of growth was recorded in 2013 with an increase of 94% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for exports of granite, sandstone and other building stone from Sri Lanka, with a 71% share of total exports. Moreover, exports of granite, sandstone and other building stone to China exceeded the volume sent to the second major destination, India (X tons), threefold. The third position in this ranking was taken by Italy (X tons), with a 3.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China totaled +17.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+25.2% per year) and Italy (-8.5% per year).

In value terms, China ($X) remains the key foreign market for granite, sandstone and other building stone exports from Sri Lanka, comprising 56% of total exports. The second position in the ranking was held by India ($X), with a 25% share of total exports. It was followed by Italy, with a 4.3% share.

From 2012 to 2021, the average annual growth rate of value to China amounted to +14.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+27.1% per year) and Italy (-5.7% per year).

Export Prices by Country

In 2021, the average export price for granite, sandstone and other building stone amounted to $X per ton, surging by 2.4% against the previous year. Overall, the export price, however, showed a slight shrinkage. The pace of growth appeared the most rapid in 2016 an increase of 5% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Italy ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+3.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Granite, Sandstone And Other Building Stone

Imports into Sri Lanka

In 2021, supplies from abroad of granite, sandstone and other building stone was finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. Over the period under review, imports posted a resilient increase. The most prominent rate of growth was recorded in 2013 when imports increased by 88%. Over the period under review, imports of hit record highs at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, imports of granite, sandstone and other building stone soared to $X in 2021. In general, imports recorded resilient growth. The pace of growth was the most pronounced in 2013 when imports increased by 144%. Imports peaked at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, India (X tons) constituted the largest granite, sandstone and other building stone supplier to Sri Lanka, accounting for a 80% share of total imports. Moreover, imports of granite, sandstone and other building stone from India exceeded the figures recorded by the second-largest supplier, China (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from India stood at +14.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+1.1% per year) and Norway (-20.1% per year).

In value terms, India ($X) constituted the largest supplier of granite, sandstone and other building stone to Sri Lanka, comprising 76% of total imports. The second position in the ranking was held by China ($X), with a 6% share of total imports.

From 2012 to 2021, the average annual growth rate of value from India stood at +28.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+26.7% per year) and Norway (-20.9% per year).

Import Prices by Country

The average import price for granite, sandstone and other building stone stood at $X per ton in 2021, almost unchanged from the previous year. Over the last nine-year period, it increased at an average annual rate of +2.9%. The most prominent rate of growth was recorded in 2013 an increase of 30% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was China ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+25.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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