Southern Asia: Granite Block Market 2024

Granite Block Market Size in Southern Asia

In 2023, the South Asian granite block market increased by X% to $X, rising for the second consecutive year after two years of decline. The total consumption indicated a noticeable increase 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, consumption increased by X% against 2021 indices. Over the period under review, the market attained the maximum level in 2023 and is expected to retain growth in the near future.

Granite Block Production in Southern Asia

In value terms, granite block production fell to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2022, and then contracted in the following year.

Granite Block Exports

Exports in Southern Asia

In 2023, approx. X tons of granite blocks and slabs were exported in Southern Asia; with an increase of X% compared with the year before. Total exports indicated a measured increase from 2012 to 2023: its volume 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, exports decreased by X% against 2021 indices. Over the period under review, the exports hit record highs at X tons in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

In value terms, granite block exports expanded significantly to $X in 2023. Total exports indicated tangible 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, exports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

India prevails in exports structure, resulting at X tons, which was approx. X% of total exports in 2023. Sri Lanka (X tons) followed a long way behind the leaders.

Exports from India increased at an average annual rate of X% from 2012 to 2023. At the same time, Sri Lanka (X%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of India decreased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest granite block supplier in Southern Asia, comprising X% of total exports. The second position in the ranking was taken by Sri Lanka ($X), with a X% share of total exports.

In India, granite block exports expanded at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2023, which is down by X% against the previous year. Over the period under review, the export price showed a slight decrease. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while India stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Sri Lanka (X%).

Granite Block Imports

Imports in Southern Asia

In 2023, purchases abroad of granite blocks and slabs increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, imports showed a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, granite block imports soared to $X in 2023. Overall, imports continue to indicate a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2023, Maldives (X tons) was the largest importer of granite blocks and slabs in Southern Asia, generating X% of total import.

Maldives was also the fastest-growing in terms of the granite blocks and slabs imports, with a CAGR of X% from 2012 to 2023. While the share of Maldives (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Maldives ($X) constitutes the largest market for imported granite blocks and slabs in Southern Asia.

From 2012 to 2023, the average annual growth rate of value in Maldives stood at X%.

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2023, dropping by X% against the previous year. Overall, the import price faced a abrupt decrease. The growth pace was the most rapid in 2018 when the import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2019 to 2023, the import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Maldives.

From 2012 to 2023, the rate of growth in terms of prices for Maldives amounted to X% per year.

Source: IndexBox Platform