United Arab Emirates: Granite Building Stone Market 2024

Granite Building Stone Market Size in the United Arab Emirates

In 2021, the granite building stone market in the United Arab Emirates increased by 3.7% to $X for the first time since 2015, thus ending a five-year declining trend. Over the period under review, consumption saw a abrupt decrease. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Granite Building Stone Exports

Exports from the United Arab Emirates

Granite building stone exports from the United Arab Emirates fell slightly to X tons in 2021, leveling off at the previous year. Overall, exports, however, posted a tangible increase. The most prominent rate of growth was recorded in 2017 with an increase of 207%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, granite building stone exports reached $X in 2021. Over the period under review, exports, however, showed a perceptible increase. The most prominent rate of growth was recorded in 2017 with an increase of 141% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Oman (X tons) was the main destination for granite building stone exports from the United Arab Emirates, with a 70% share of total exports. Moreover, granite building stone exports to Oman exceeded the volume sent to the second major destination, Jordan (X tons), threefold. Saudi Arabia (X tons) ranked third in terms of total exports with a 1.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Oman was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (+25.4% per year) and Saudi Arabia (+21.8% per year).

In value terms, Oman ($X), Jordan ($X) and Nigeria ($X) were the largest markets for granite building stone exported from the United Arab Emirates worldwide, together comprising 94% of total exports.

In terms of the main countries of destination, Jordan, with a CAGR of +25.8%, 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 building stone export price stood at $X per ton in 2021, growing by 15% against the previous year. Overall, the export price, however, continues to indicate a mild contraction. The pace of growth appeared the most rapid in 2019 when the average export price increased by 23%. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Jordan ($X per ton), while the average price for exports to Saudi Arabia ($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 Iran (+30.4%), while the prices for the other major destinations experienced mixed trend patterns.

Granite Building Stone Imports

Imports into the United Arab Emirates

In 2021, approx. X tons of granite building stone were imported into the United Arab Emirates; declining by -3.5% against the previous year. In general, imports recorded a perceptible curtailment. The pace of growth was the most pronounced in 2014 with an increase of 19%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, granite building stone imports rose markedly to $X in 2021. Overall, imports continue to indicate a deep downturn. The growth pace was the most rapid in 2013 when imports increased by 34% against the previous year. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, India (X tons) constituted the largest supplier of granite building stone to the United Arab Emirates, accounting for a 75% share of total imports. Moreover, granite building stone imports from India exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The third position in this ranking was taken by Brazil (X tons), with a 2.6% share.

From 2012 to 2021, the average annual growth rate of volume from India amounted to +2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-11.5% per year) and Brazil (+0.3% per year).

In value terms, India ($X) constituted the largest supplier of granite building stone to the United Arab Emirates, comprising 65% of total imports. The second position in the ranking was held by China ($X), with a 19% share of total imports. It was followed by Brazil, with a 4.8% share.

From 2012 to 2021, the average annual growth rate of value from India was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (-13.0% per year) and Brazil (-1.1% per year).

Import Prices by Country

In 2021, the average granite building stone import price amounted to $X per ton, growing by 10% against the previous year. In general, the import price, however, recorded a noticeable shrinkage. The pace of growth appeared the most rapid in 2013 when the average import price increased by 23%. Over the period under review, average import prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+3.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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