Report Update Nov 1, 2024

Sri Lanka - Natural Stone Setts, Kerbstones and Flagstones - Market Analysis, Forecast, Size, Trends and Insights

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Sri Lanka: Natural Stone Sett Market 2024

Natural Stone Sett Market Size in Sri Lanka

The Sri Lankan natural stone sett market reduced slightly to $X in 2022, with a decrease of -2.8% against the previous year. Overall, consumption, however, recorded a strong increase. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Natural Stone Sett Production in Sri Lanka

In value terms, natural stone sett production fell to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed strong growth. The growth pace was the most rapid in 2016 with an increase of 79%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Natural Stone Sett Exports

Exports from Sri Lanka

In 2022, shipments abroad of natural stone setts, kerbstones and flagstones decreased by 0% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports posted a remarkable increase. The pace of growth appeared the most rapid in 2015 when exports increased by 287%. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, natural stone sett exports totaled $X in 2022. Over the period under review, exports recorded a deep slump. The most prominent rate of growth was recorded in 2014 with an increase of 724%. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Maldives (X tons) was the main destination for natural stone sett exports from Sri Lanka, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Maldives totaled +28.0%.

From 2012 to 2022, the average annual rate of growth in terms of value to Maldives stood at +17.1%.

Export Prices by Country

In 2022, the average natural stone sett export price amounted to $X per ton, approximately reflecting the previous year. Overall, the export price showed a abrupt decrease. The pace of growth was the most pronounced in 2014 when the average export price increased by 666%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Maldives.

From 2012 to 2022, the rate of growth in terms of prices for Norway amounted to +46.7% per year.

Natural Stone Sett Imports

Imports into Sri Lanka

In 2022, approx. X tons of natural stone setts, kerbstones and flagstones were imported into Sri Lanka; dropping by -23.2% against 2021. Overall, imports, however, continue to indicate perceptible growth. The pace of growth was the most pronounced in 2015 when imports increased by 888% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, natural stone sett imports skyrocketed to $X in 2022. In general, imports, however, saw prominent growth. The most prominent rate of growth was recorded in 2015 with an increase of 959%. Over the period under review, imports attained the maximum at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

Indonesia (X tons), Germany (X tons) and India (X tons) were the main suppliers of natural stone sett imports to Sri Lanka, together comprising 97% of total imports. These countries were followed by China, which accounted for a further 3.3%.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +32.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Indonesia ($X) and China ($X) were the largest natural stone sett suppliers to Sri Lanka, with a combined 96% share of total imports.

Among the main suppliers, China, with a CAGR of +51.2%, recorded the highest rates of growth with regard to 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

In 2022, the average natural stone sett import price amounted to $X per ton, rising by 66% against the previous year. Overall, the import price recorded a strong expansion. The growth pace was the most rapid in 2020 when the average import price increased by 72% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+24.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for natural stone setts, kerbstones and flagstones in the world?

The countries with the highest volumes of in 2021 were China, Afghanistan and the United States, together accounting for 33% of global consumption. These countries were followed by India, Indonesia, Brazil, Vietnam, Mexico, Turkey, the Philippines, South Korea, Pakistan and Qatar, which together accounted for a further 28%.

What are the largest producers of natural stone setts, kerbstones and flagstones in the world?

China constituted the country with the largest volume of natural stone sett production, accounting for 20% of total volume. Moreover, natural stone sett production in China exceeded the figures recorded by the second-largest producer, Pakistan, twofold. The United States ranked third in terms of total production with a 9.1% share.

What are the leading suppliers of natural stone setts, kerbstones and flagstones to Sri Lanka?

In value terms, China, Vietnam and Spain appeared to be the largest natural stone sett suppliers to Sri Lanka, with a combined 88% share of total imports.

What is the average export price for natural stone setts, kerbstones and flagstones in Sri Lanka?

The average natural stone sett export price stood at $9,080 per ton in 2019, remaining relatively unchanged against the previous year.

What is the average import price for natural stone setts, kerbstones and flagstones in Sri Lanka?

In 2021, the average natural stone sett import price amounted to $759 per ton, reducing by -8.7% against the previous year.

This report provides an in-depth analysis of the natural stone sett market in Sri Lanka. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 23701210 - Natural stone setts, kerbstones and flagstones (excluding of slate)

Country coverage:

Sri Lanka

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Sri Lanka
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023