Asia: Granite Block Market 2024

Granite Block Market Size in Asia

After two years of growth, the Asian granite block market decreased by X% to $X in 2023. Overall, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then dropped in the following year.

Granite Block Production in Asia

In value terms, granite block production surged to $X in 2023 estimated in export price. The total production indicated notable growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2019 indices. The growth pace was the most rapid in 2019 when the production volume increased by X%. The level of production peaked in 2023 and is expected to retain growth in the near future.

Granite Block Exports

Exports in Asia

Granite block exports skyrocketed to X tons in 2023, growing by X% compared with the previous year. In general, exports saw a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, granite block exports skyrocketed to $X in 2023. Total exports indicated a pronounced increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports attained the maximum in 2023 and are likely to see gradual growth in years to come.

Exports by Country

India represented the largest exporting country with an export of about X tons, which finished at X% of total exports. The United Arab Emirates (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Turkey (X%). Iran (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, India ($X) remains the largest granite block supplier in Asia, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Turkey, with an X% share.

In India, granite block exports increased at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Turkey (X% per year).

Export Prices by Country

In 2023, the export price in Asia amounted to $X per ton, shrinking by X% against the previous year. In general, the export price saw a pronounced curtailment. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Iran ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by India (X%), while the other leaders experienced a decline in the export price figures.

Granite Block Imports

Imports in Asia

For the fourth consecutive year, Asia recorded growth in purchases abroad of granite blocks and slabs, which increased by X% to X tons in 2023. Over the period under review, imports recorded a pronounced increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, granite block imports rose modestly to $X in 2023. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 with an increase of X%. The level of import peaked at $X in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Maldives represented the major importer of granite blocks and slabs in Asia, with the volume of imports amounting to X tons, which was approx. X% of total imports in 2023. It was distantly followed by China (X tons), mixing up a X% share of total imports. Taiwan (Chinese) (X tons) and Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Maldives (with a CAGR of X%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, China ($X) constitutes the largest market for imported granite blocks and slabs in Asia, comprising X% of total imports. The second position in the ranking was held by Maldives ($X), with a X% share of total imports. It was followed by Vietnam, with a X% share.

From 2012 to 2023, the average annual growth rate of value in China was relatively modest. In the other countries, the average annual rates were as follows: Maldives (X% per year) and Vietnam (X% per year).

Import Prices by Country

In 2023, the import price in Asia amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the import price continues to indicate a perceptible descent. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. The level of import peaked at $X per ton in 2021; however, from 2022 to 2023, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per ton), while Maldives ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform