Sri Lanka: Market for Granules, Chippings And Powder Of Monumental Stone 2024

Market Size for Granules, Chippings And Powder Of Monumental Stone in Sri Lanka

The Sri Lankan market for granules, chippings and powder of monumental stone skyrocketed to $X in 2021, rising by 39% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a tangible expansion. Monumental stone granules and powder consumption peaked at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Exports of Granules, Chippings And Powder Of Monumental Stone

Exports from Sri Lanka

In 2021, the amount of granules, chippings and powder of monumental stone exported from Sri Lanka fell notably to X kg, shrinking by -40.1% compared with the year before. In general, exports saw a abrupt downturn. The growth pace was the most rapid in 2013 when exports increased by 273%. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, monumental stone granules and powder exports dropped markedly to $X in 2021. Over the period under review, exports saw a deep contraction. The pace of growth was the most pronounced in 2014 with an increase of 260%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Maldives (X kg), Japan (X kg) and Zambia (X kg) were the main destinations of monumental stone granules and powder exports from Sri Lanka, together comprising 88% of total exports.

From 2012 to 2021, the biggest increases were recorded for Zambia (with a CAGR of 0.0%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for monumental stone granules and powder exported from Sri Lanka were Japan ($X), Maldives ($X) and Zambia ($X), together accounting for 95% of total exports.

In terms of the main countries of destination, Japan, with a CAGR of +10.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average export price for granules, chippings and powder of monumental stone stood at $X per ton in 2021, reducing by -1.8% against the previous year. In general, the export price, however, continues to indicate mild growth. The growth pace was the most rapid in 2017 when the average export price increased by 187%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to France ($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 Japan (+17.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Granules, Chippings And Powder Of Monumental Stone

Imports into Sri Lanka

In 2021, approx. X tons of granules, chippings and powder of monumental stone were imported into Sri Lanka; growing by 29% on 2020. In general, imports continue to indicate pronounced growth. The most prominent rate of growth was recorded in 2014 with an increase of 645% against the previous year. Over the period under review, imports reached the maximum at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, monumental stone granules and powder imports skyrocketed to $X in 2021. Overall, imports showed temperate growth. The growth pace was the most rapid in 2014 with an increase of 685% against the previous year. Over the period under review, imports reached the maximum at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Malaysia (X tons), India (X tons) and Italy (X tons) were the main suppliers of monumental stone granules and powder imports to Sri Lanka, with a combined 53% share of total imports. These countries were followed by Pakistan, Thailand, Vietnam, Germany and Jordan, which together accounted for a further 44%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Pakistan (with a CAGR of +444.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest monumental stone granules and powder suppliers to Sri Lanka were Malaysia ($X), India ($X) and Italy ($X), with a combined 56% share of total imports. Pakistan, Vietnam, Thailand, Jordan and Germany lagged somewhat behind, together accounting for a further 32%.

In terms of the main suppliers, Pakistan, with a CAGR of +462.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for granules, chippings and powder of monumental stone stood at $X per ton in 2021, picking up by 11% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average import price increased by 38%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+14.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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