United Arab Emirates: Crude Granite Market 2024

Crude Granite Market Size in the United Arab Emirates

The crude granite market in the United Arab Emirates shrank to $X in 2022, reducing by -6% against the previous year. In general, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Crude Granite Production in the United Arab Emirates

In value terms, crude granite production reduced to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 31% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Crude Granite Exports

Exports from the United Arab Emirates

Crude granite exports from the United Arab Emirates rose markedly to X tons in 2022, growing by 9.6% against the year before. Overall, exports enjoyed a strong increase. The growth pace was the most rapid in 2013 with an increase of 191% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, crude granite exports declined modestly to $X in 2022. In general, exports posted resilient growth. The growth pace was the most rapid in 2013 with an increase of 137%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for crude granite exports from the United Arab Emirates, accounting for a 69% share of total exports. Moreover, crude granite exports to China exceeded the volume sent to the second major destination, India (X tons), fourfold. The third position in this ranking was held by the UK (X tons), with a 3.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at +32.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+2.0% per year) and the UK (0.0% per year).

In value terms, China ($X), India ($X) and the UK ($X) were the largest markets for crude granite exported from the United Arab Emirates worldwide, with a combined 91% share of total exports.

China, with a CAGR of +62.2%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average crude granite export price amounted to $X per ton, shrinking by -10.2% against the previous year. In general, the export price saw a perceptible reduction. The growth pace was the most rapid in 2021 an increase of 23% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, 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 Italy ($X per ton), while the average price for exports to China ($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 China (+21.9%), while the prices for the other major destinations experienced a decline.

Crude Granite Imports

Imports into the United Arab Emirates

In 2022, purchases abroad of granite (crude) increased by 43% to X tons, rising for the second year in a row after two years of decline. In general, imports, however, continue to indicate a abrupt decrease. The growth pace was the most rapid in 2016 when imports increased by 92% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, crude granite imports soared to $X in 2022. Over the period under review, imports, however, continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2016 when imports increased by 87% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of crude granite to the United Arab Emirates, accounting for a 79% share of total imports. Moreover, crude granite imports from India exceeded the figures recorded by the second-largest supplier, Switzerland (X tons), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from India stood at +7.5%.

In value terms, India ($X) constituted the largest supplier of granite (crude) to the United Arab Emirates, comprising 69% of total imports. The second position in the ranking was taken by Switzerland ($X), with a 30% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from India totaled +5.7%.

Import Prices by Country

The average crude granite import price stood at $X per ton in 2022, with an increase of 26% against the previous year. Over the period under review, the import price, however, saw a mild setback. The pace of growth was the most pronounced in 2017 when the average import price increased by 41% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Switzerland ($X per ton), while the price for India amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+13.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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