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

The global market for granite, sandstone, and other building stone dropped modestly to $71.7B in 2019 (IndexBox estimates), remaining constant against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, taxes, duties, and margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 6.4% y-o-y. As a result, consumption reached a peak level of $73.1B. From 2018 to 2019, the growth of the global market remained at a somewhat lower figure.

Consumption by Country

China (113M tonnes) remains the largest granite, sandstone, and other building stone consuming country worldwide, accounting for 33% of total volume. Moreover, the consumption of granite, sandstone, and other building stone in China exceeded the figures recorded by the second-largest consumer, Russia (37M tonnes), threefold. The third position in this ranking was occupied by the U.S. (19M tonnes), with a 5.6% share.

From 2007 to 2019, the average annual rate of growth in terms of volume in China totaled +1.1%. In other countries, the average annual rates were as follows: Russia (+21.5% per year) and the U.S. (-2.2% per year). The tangible growth in Russia over the last years was largely conditioned by large infrastructural construction projects and city renovation for the dates of large sport and cultural events (the 2014 Winter Olympic Games and the World Football Championship in 2018, amongst others).

In value terms, China ($9.6B), the U.S. ($6.8B), and Russia ($5B) appeared to be the countries with the highest levels of market value in 2019, with a combined 30% share of the global market.

The countries with the highest levels of granite, sandstone, and other building stone per capita consumption in 2019 were Russia (260 kg per person), Poland (164 kg per person), and Turkey (100 kg per person).

Production

In 2019, after four years of growth, there was a decline in the production of granite, sandstone, and other building stone, when its volume decreased by -0.8% to 347M tonnes. The total output volume increased at an average annual rate of +1.2% over the period from 2007 to 2019; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years.

Production by Country

China (107M tonnes) remains the largest granite, sandstone, and other building stone producing country worldwide, comprising approx. 31% of the total volume. Moreover, the production of granite, sandstone, and other building stone in China exceeded the figures recorded by the second-largest producer, Russia (37M tonnes), threefold. The third position in this ranking was occupied by India (25M tonnes), with a 7.2% share.

In China, the production of granite, sandstone, and other building stone remained relatively stable over the period from 2007-2019. The remaining producing countries recorded the following average annual rates of production growth: Russia (+21.7% per year) and India (+2.4% per year).

Imports

After two years of growth, purchases abroad of granite, sandstone, and other building stone decreased by -4.9% to 15M tonnes in 2019. The total import volume increased at an average annual rate of +2.0% from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, global imports hit record highs at 16M tonnes in 2018 and then dropped modestly in the following year. In value terms, imports of granite, sandstone, and other building stone declined to $2.1B (IndexBox estimates) in 2019.

Imports by Country

In 2019, China (6.7M tonnes) was the largest importer of granite, sandstone, and other building stone, committing 45% of total imports. It was distantly followed by the UK (3.6M tonnes), generating a 24% share of total imports. The following importers – Taiwan (569K tonnes), Italy (522K tonnes), Maldives (416K tonnes), France (393K tonnes), Spain (362K tonnes), and Germany (239K tonnes) – together made up 17% of total imports.

From 2007 to 2019, the biggest increases were in the Maldives, while purchases for the other global leaders experienced more modest paces of growth.

In value terms, China ($1.1B) constitutes the largest market for imported granite, sandstone, and other building stone worldwide, comprising 52% of global imports. The second position in the ranking was occupied by the UK ($215M), with a 10% share of global imports. It was followed by Italy, with an 8% share.

In China, imports of granite, sandstone, and other building stone increased at an average annual rate of +4.7% over the period from 2007-2019. In other countries, the average annual rates were as follows: the UK (+3.3% per year) and Italy (-8.9% per year).

Import Prices by Country

The average import price for granite, sandstone, and other building stone stood at $143 per tonne in 2019, with a decrease of -4.2% against the previous year. Over the period under review, the import price showed a perceptible curtailment. The most prominent rate of growth was recorded in 2010 when the average import price increased by 8.2% year-to-year. Global import price peaked at $194 per tonne in 2008; however, from 2009 to 2019, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2019, the country with the highest price was Italy ($326 per tonne), while Maldives ($40 per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Italy, while the other global leaders experienced a decline in the import price figures.

Source: IndexBox AI Platform