Turkey: Granite Block Market 2024

Granite Block Market Size in Turkey

In 2022, the Turkish granite block market decreased by -49.7% to $X, falling for the third year in a row after two years of growth. Over the period under review, consumption saw a deep setback. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Granite Block Production in Turkey

In value terms, granite block production reduced modestly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.8% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of 35% against the previous year. Granite block production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Granite Block Exports

Exports from Turkey

For the fifth consecutive year, Turkey recorded growth in overseas shipments of granite blocks and slabs, which increased by 20% to X tons in 2022. Over the period under review, exports posted a prominent expansion. The pace of growth was the most pronounced in 2020 with an increase of 120%. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, granite block exports skyrocketed to $X in 2022. Overall, exports showed a prominent expansion. The pace of growth was the most pronounced in 2019 when exports increased by 69% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

Germany (X tons), Switzerland (X tons) and Italy (X tons) were the main destinations of granite block exports from Turkey, together accounting for 45% of total exports. Bulgaria, Estonia and the Netherlands lagged somewhat behind, together accounting for a further 9.9%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Estonia (with a CAGR of +888.9%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Switzerland ($X) and Italy ($X) constituted the largest markets for granite block exported from Turkey worldwide, together comprising 45% of total exports. Bulgaria, Estonia and the Netherlands lagged somewhat behind, together comprising a further 6.6%.

In terms of the main countries of destination, Estonia, with a CAGR of +787.0%, 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 more modest paces of growth.

Export Prices by Country

The average granite block export price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Over the period under review, the export price showed a slight reduction. The most prominent rate of growth was recorded in 2014 when the average export price increased by 34%. 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.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Georgia (+34.8%), while the prices for the other major destinations experienced more modest paces of growth.

Granite Block Imports

Imports into Turkey

Granite block imports into Turkey reduced to X tons in 2022, which is down by -10.9% on 2021 figures. In general, imports faced a abrupt shrinkage. The growth pace was the most rapid in 2021 when imports increased by 105% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, granite block imports dropped to $X in 2022. Over the period under review, imports recorded a abrupt slump. The pace of growth was the most pronounced in 2021 when imports increased by 120%. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Iran (X tons) constituted the largest granite block supplier to Turkey, with a 78% share of total imports. Moreover, granite block imports from Iran exceeded the figures recorded by the second-largest supplier, Norway (X tons), fourfold. The third position in this ranking was held by China (X tons), with a 2.5% share.

From 2012 to 2022, the average annual growth rate of volume from Iran totaled +30.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (-5.3% per year) and China (-32.0% per year).

In value terms, the largest granite block suppliers to Turkey were Norway ($X), Iran ($X) and Spain ($X), together accounting for 98% of total imports.

Iran, with a CAGR of +15.0%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average granite block import price stood at $X per ton in 2022, approximately reflecting the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 78%. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Iran ($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 (+19.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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