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Granite, Sandstone And Building Stone Market in Asia – Key Insights

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Granite, Sandstone And Building Stone Market in Asia – Key Insights

IndexBox has just published a new report: ‘Asia – Granite, Sandstone And Other Building Stone – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

Exports in Asia

In 2018, approx. 9.7M tonnes of granite, sandstone and other building stone were exported in Asia; going up by 3.8% against the previous year. The total export volume increased at an average annual rate of +1.7% from 2013 to 2018; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded over the period under review. The growth pace was the most rapid in 2014 with an increase of 15% against the previous year. In that year, exports of granite, sandstone and other building stone reached their peak of 10M tonnes. From 2015 to 2018, the growth of exports of granite, sandstone and other building stone failed to regain its momentum.

In value terms, exports of granite, sandstone and other building stone stood at $1.3B (IndexBox estimates) in 2018.

Exports by Country

India was the largest exporter of granite, sandstone and other building stone exported in Asia, with the volume of exports finishing at 6.9M tonnes, which was near 71% of total exports in 2018. It was distantly followed by Indonesia (1.6M tonnes) and China (0.7M tonnes), together creating a 24% share of total exports.

India was also the fastest-growing in terms of the granite, sandstone and other building stone exports, with a CAGR of +9.1% from 2013 to 2018. Indonesia (-6.4%) and China (-10.6%) illustrated a downward trend over the same period. While the share of India (+25 p.p.) increased significantly in terms of the total exports from 2013-2018, the share of China (-5.8 p.p.) and Indonesia (-6.3 p.p.) displayed negative dynamics.

In value terms, India ($1.1B) remains the largest granite, sandstone and other building stone supplier in Asia, comprising 85% of total exports of granite, sandstone and other building stone. The second position in the ranking was occupied by China ($107M), with a 8.3% share of total exports.

Imports in Asia

In 2018, approx. 9.6M tonnes of granite, sandstone and other building stone were imported in Asia; growing by 13% against the previous year.

In value terms, imports of granite, sandstone and other building stone totaled $1.5B (IndexBox estimates) in 2018. In general, imports of granite, sandstone and other building stone continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 8.8% y-o-y. Over the period under review, imports of granite, sandstone and other building stone attained their maximum at $1.6B in 2014; however, from 2015 to 2018, imports remained at a lower figure.

Imports by Country

China dominates imports of granite, sandstone and other building stone structure, reaching 7.7M tonnes, which was approx. 80% of total imports in 2018. It was distantly followed by Taiwan, Chinese (764K tonnes), committing an 8% share of total imports. The following importers – Bangladesh (405K tonnes) and Maldives (160K tonnes) – together made up 5.9% of total imports.

From 2013 to 2018, average annual rates of growth with regard to granite, sandstone and other building stone imports into China stood at +4.2%. At the same time, Bangladesh (+50.4%) and Maldives (+33.0%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Asia, with a CAGR of +50.4% from 2013-2018. Taiwan, Chinese experienced a relatively flat trend pattern. China (+15 p.p.) and Bangladesh (+3.7 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($1.2B) constitutes the largest market for imported granite, sandstone and other building stone in Asia, comprising 82% of total imports of granite, sandstone and other building stone. The second position in the ranking was occupied by Taiwan, Chinese ($90M), with a 6.2% share of total imports. It was followed by Bangladesh, with a 1.9% share.

Source: IndexBox AI Platform