United Kingdom: Granite Block Market 2024

Granite Block Market Size in the UK

In 2022, the UK granite block market decreased by -7% to $X, falling for the second year in a row after three years of growth. Overall, consumption recorded a slight decline. Granite block consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Granite Block Production in the UK

In value terms, granite block production reduced to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.8% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by 25% against the previous year. Over the period under review, production attained the peak level at $X in 2021, and then dropped slightly in the following year.

Granite Block Exports

Exports from the UK

In 2022, overseas shipments of granite blocks and slabs decreased by -6.3% to X tons, falling for the fifth consecutive year after two years of growth. Overall, exports recorded a abrupt setback. The pace of growth appeared the most rapid in 2017 with an increase of 117%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, granite block exports contracted significantly to $X in 2022. In general, exports showed a abrupt decline. The growth pace was the most rapid in 2017 with an increase of 98%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Ireland (X tons) was the main destination for granite block exports from the UK, with a 83% share of total exports. Moreover, granite block exports to Ireland exceeded the volume sent to the second major destination, India (X tons), tenfold. Norway (X tons) ranked third in terms of total exports with a 2.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ireland stood at -13.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+194.2% per year) and Norway (+70.8% per year).

In value terms, the largest markets for granite block exported from the UK were Ireland ($X), India ($X) and Norway ($X), with a combined 84% share of total exports.

In terms of the main countries of destination, India, with a CAGR of +120.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average granite block export price stood at $X per ton in 2022, declining by -49.1% against the previous year. Overall, the export price saw a pronounced slump. The most prominent rate of growth was recorded in 2016 when the average export price increased by 30%. The export price peaked at $X per ton in 2021, and then dropped remarkably in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Ireland ($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 Ireland (-7.0%), while the prices for the other major destinations experienced a decline.

Granite Block Imports

Imports into the UK

In 2022, approx. X tons of granite blocks and slabs were imported into the UK; shrinking by -25.5% on 2021. In general, imports faced a abrupt decline. The growth pace was the most rapid in 2018 with an increase of 19% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, granite block imports fell dramatically to $X in 2022. Overall, imports showed a abrupt decrease. The most prominent rate of growth was recorded in 2018 with an increase of 12% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

India (X tons), China (X tons) and Portugal (X tons) were the main suppliers of granite block imports to the UK, together accounting for 90% of total imports.

From 2012 to 2022, the biggest increases were recorded for Portugal (with a CAGR of +10.3%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, India ($X), China ($X) and Portugal ($X) appeared to be the largest granite block suppliers to the UK, together accounting for 87% of total imports.

In terms of the main suppliers, Portugal, with a CAGR of +9.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average granite block import price amounted to $X per ton, with a decrease of -28.6% against the previous year. Over the period under review, the import price, however, showed a mild increase. The growth pace was the most rapid in 2021 an increase of 84% against the previous year. As a result, import price reached the peak level of $X per ton, and then shrank markedly in the following year.

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 Italy ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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