Asia: Granite Building Stone Market 2024

Granite Building Stone Market Size in Asia

The Asian granite building stone market totaled $X in 2023, with an increase of X% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market remained at a lower figure.

Granite Building Stone Production in Asia

In value terms, granite building stone production totaled $X in 2023 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of production peaked at $X in 2015; however, from 2016 to 2023, production remained at a lower figure.

Granite Building Stone Exports

Exports in Asia

For the sixth consecutive year, Asia recorded decline in shipments abroad of granite building stone, which decreased by X% to X tons in 2023. Overall, exports continue to indicate a pronounced curtailment. The pace of growth was the most pronounced in 2017 with an increase of X%. As a result, the exports reached the peak of X tons. From 2018 to 2023, the growth of the exports failed to regain momentum.

In value terms, granite building stone exports shrank markedly to $X in 2023. In general, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2022 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

China represented the major exporting country with an export of about X tons, which reached X% of total exports. India (X tons) ranks second in terms of the total exports with a X% share, followed by Thailand (X%).

From 2012 to 2023, the biggest increases were recorded for Thailand (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, China ($X) remains the largest granite building stone supplier in Asia, comprising X% of total exports. The second position in the ranking was held by India ($X), with a X% share of total exports.

In China, granite building stone exports remained relatively stable over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: India (X% per year) and Thailand (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2023, falling by X% against the previous year. Export price indicated a perceptible expansion from 2012 to 2023: its price 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, granite building stone export price increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2022 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then declined in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Thailand ($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 a decline in the export price figures.

Granite Building Stone Imports

Imports in Asia

In 2023, imports of granite building stone in Asia dropped slightly to X tons, with a decrease of X% compared with 2022. Overall, imports showed a noticeable contraction. The growth pace was the most rapid in 2014 with an increase of X%. As a result, imports attained the peak of X tons. From 2015 to 2023, the growth of imports failed to regain momentum.

In value terms, granite building stone imports dropped to $X in 2023. Over the period under review, imports showed a perceptible curtailment. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2023, imports stood at a somewhat lower figure.

Imports by Country

South Korea represented the major importing country with an import of around X tons, which finished at X% of total imports. Japan (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (X%), Turkey (X%) and the United Arab Emirates (X%). The following importers - Taiwan (Chinese) (X tons), Saudi Arabia (X tons), Iraq (X tons), China (X tons), Mongolia (X tons), Kazakhstan (X tons) and Qatar (X tons) - together made up X% of total imports.

Imports into South Korea decreased at an average annual rate of X% from 2012 to 2023. At the same time, China (X%), Mongolia (X%), Vietnam (X%), Saudi Arabia (X%) and Kazakhstan (X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2023. By contrast, the United Arab Emirates (X%), Turkey (X%), Qatar (X%), Iraq (X%), Taiwan (Chinese) (X%) and Japan (X%) illustrated a downward trend over the same period. Vietnam (X p.p.), China (X p.p.), Saudi Arabia (X p.p.) and Mongolia (X p.p.) significantly strengthened its position in terms of the total imports, while Taiwan (Chinese) and Japan saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest granite building stone importing markets in Asia were South Korea ($X), Japan ($X) and Vietnam ($X), together accounting for X% of total imports. The United Arab Emirates, Turkey, Kazakhstan, Iraq, Saudi Arabia, Mongolia, Qatar, Taiwan (Chinese) and China lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Mongolia, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Asia amounted to $X per ton, shrinking by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2023, import prices stood at a somewhat lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform