Thailand: Market for Granite, Sandstone And Other Building Stone 2022

Market Size for Granite, Sandstone And Other Building Stone in Thailand

In 2021, the Thai market for granite, sandstone and other building stone decreased by -15.1% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption recorded a deep reduction. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Exports of Granite, Sandstone And Other Building Stone

Exports from Thailand

In 2021, shipments abroad of granite, sandstone and other building stone was finally on the rise to reach X tons after four years of decline. Overall, exports saw a resilient increase. The pace of growth was the most pronounced in 2016 with an increase of 185%. Over the period under review, the exports of attained the peak figure in 2021 and are likely to see gradual growth in the near future.

In value terms, exports of granite, sandstone and other building stone reduced to $X in 2021. In general, total exports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 with an increase of 38%. The exports peaked at $X in 2020, and then fell in the following year.

Exports by Country

Indonesia (X tons), Maldives (X tons) and Germany (X tons) were the main destinations of exports of granite, sandstone and other building stone from Thailand, together accounting for 60% of total exports.

From 2012 to 2021, the biggest increases were in Maldives (with a CAGR of +161.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Lao People's Democratic Republic ($X) remains the key foreign market for granite, sandstone and other building stone exports from Thailand, comprising 62% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 10% share of total exports. It was followed by Myanmar, with a 5.9% share.

From 2012 to 2021, the average annual growth rate of value to Lao People's Democratic Republic amounted to +34.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+7.6% per year) and Myanmar (+55.4% per year).

Export Prices by Country

In 2021, the average export price for granite, sandstone and other building stone amounted to $X per ton, with a decrease of -48.6% against the previous year. In general, the export price showed a deep contraction. The growth pace was the most rapid in 2019 an increase of 45% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Lao People's Democratic Republic ($X per ton), while the average price for exports to Maldives ($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 Singapore (+11.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Granite, Sandstone And Other Building Stone

Imports into Thailand

Imports of granite, sandstone and other building stone into Thailand reduced slightly to X tons in 2021, leveling off at 2020. Over the period under review, imports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2019 with an increase of 16%. Over the period under review, imports of hit record highs at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, imports of granite, sandstone and other building stone fell notably to $X in 2021. Overall, imports recorded a deep contraction. The most prominent rate of growth was recorded in 2013 with an increase of 11% against the previous year. Over the period under review, imports of attained the maximum at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Lao People's Democratic Republic (X tons) and India (X tons) were the main suppliers of imports of granite, sandstone and other building stone to Thailand, together comprising 93% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Lao People's Democratic Republic (with a CAGR of +101.1%), while imports for the other leaders experienced mixed trend patterns.

In value terms, China ($X) constituted the largest supplier of granite, sandstone and other building stone to Thailand, comprising 62% of total imports. The second position in the ranking was held by India ($X), with a 17% share of total imports. It was followed by Lao People's Democratic Republic, with a 4.4% share.

From 2012 to 2021, the average annual growth rate of value from China totaled -7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-12.1% per year) and Lao People's Democratic Republic (+45.8% per year).

Import Prices by Country

In 2021, the average import price for granite, sandstone and other building stone amounted to $X per ton, with a decrease of -14% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 16%. Over the period under review, average import prices reached the maximum at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was India ($X per ton), while the price for Lao People's Democratic Republic ($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 (+5.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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