Porphyry, Basalt and Quartzites Market

The article discusses the declining demand for porphyry, basalt, and quartzites globally, with a forecasted decrease in market volume and value by 2030. It provides detailed information on consumption, production, imports, and exports of these materials from 2012 to 2022, highlighting key consuming, producing, importing, and exporting countries. The data shows shifts in trends, such as increases in consumption in Hungary and Malaysia, and fluctuations in import and export prices. Overall, the market is expected to face challenges in the coming years.

Market Forecast

Depressed by shrinking demand for porphyry, basalt and quartzites worldwide, the market is expected to continue its downward consumption trend over the next eight years. The performance of the market is forecast to contract with an anticipated CAGR of -0.5% for the period from 2022 to 2030, which is projected to depress the market volume to 181M tons by the end of 2030.

In value terms, the market is forecast to contract with an anticipated CAGR of +1.2% for the period from 2022 to 2030, which is projected to bring the market value to $62.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Porphyry, Basalt and Quartzites

In 2022, approx. 189M tons of porphyry, basalt and quartzites were consumed worldwide; picking up by 3.6% against 2021 figures. Overall, consumption, however, showed a pronounced shrinkage. Global consumption peaked at 237M tons in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

The global porphyry, basalt and quartzites market size stood at $57.3B in 2022, approximately reflecting the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, recorded a perceptible shrinkage. The growth pace was the most rapid in 2021 when the market value increased by 2.1% against the previous year. Over the period under review, the global market reached the peak level at $76.5B in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (28M tons), Malaysia (19M tons) and the United States (17M tons), with a combined 34% share of global consumption. India, Turkey, Russia, Germany, Hungary, Brazil, Indonesia, Nigeria, Pakistan and the UK lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +11.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Malaysia ($15.3B) led the market, alone. The second position in the ranking was taken by the United States ($5.5B). It was followed by the UK.

From 2012 to 2022, the average annual rate of growth in terms of value in Malaysia was relatively modest. The remaining consuming countries recorded the following average annual rates of market growth: the United States (+4.9% per year) and the UK (-4.1% per year).

The countries with the highest levels of porphyry, basalt and quartzites per capita consumption in 2022 were Malaysia (580 kg per person), Hungary (429 kg per person) and Turkey (94 kg per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Hungary (with a CAGR of +11.2%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Porphyry, Basalt and Quartzites

For the third consecutive year, the global market recorded growth in production of porphyry, basalt and quartzites, which increased by 0.3% to 190M tons in 2022. Over the period under review, production, however, recorded a pronounced slump. The growth pace was the most rapid in 2020 when the production volume increased by 1.6% against the previous year. Global production peaked at 238M tons in 2012; however, from 2013 to 2022, production remained at a lower figure.

In value terms, porphyry, basalt and quartzites production contracted slightly to $57.1B in 2022 estimated in export price. Overall, production, however, saw a pronounced slump. The growth pace was the most rapid in 2015 when the production volume increased by 3.5%. Global production peaked at $75.1B in 2012; however, from 2013 to 2022, production failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2022 were China (29M tons), Malaysia (19M tons) and the United States (17M tons), with a combined 34% share of global production. India, Turkey, Germany, Russia, Brazil, Hungary, Indonesia, Nigeria, Pakistan and the UK lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Hungary (with a CAGR of +11.0%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Porphyry, Basalt and Quartzites

In 2022, supplies from abroad of porphyry, basalt and quartzites decreased by -7.1% to 2.7M tons for the first time since 2019, thus ending a two-year rising trend. In general, imports showed a slight slump. The pace of growth was the most pronounced in 2017 with an increase of 6.8% against the previous year. Global imports peaked at 3.1M tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, porphyry, basalt and quartzites imports expanded modestly to $497M in 2022. The total import value increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 34% against the previous year. Global imports peaked in 2022 and are likely to continue growth in years to come.

Imports By Country

The countries with the highest levels of porphyry, basalt and quartzites imports in 2022 were Bangladesh (247K tons), Lithuania (229K tons), France (198K tons), the Netherlands (197K tons), China (171K tons), Japan (144K tons), Sweden (125K tons), Poland (125K tons), the United States (119K tons), Italy (111K tons), Maldives (102K tons) and Malaysia (90K tons), together recording 70% of total import. Germany (86K tons) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Malaysia (with a CAGR of +43.0%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, Italy ($75M), China ($61M) and the United States ($49M) constituted the countries with the highest levels of imports in 2022, with a combined 37% share of global imports. Bangladesh, the Netherlands, Japan, France, Maldives, Malaysia, Lithuania, Germany, Sweden and Poland lagged somewhat behind, together accounting for a further 34%.

Bangladesh, with a CAGR of +46.6%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Imports By Type

In 2022, monumental or building stone, other than granite and sandstone (1.5M tons), distantly followed by quartzite (1.2M tons) represented the largest types of porphyry, basalt and quartzites, together achieving 100% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading imported products, was attained by monumental or building stone, other than granite and sandstone (with a CAGR of -0.7%).

In value terms, quartzite ($284M) and monumental or building stone, other than granite and sandstone ($216M) constituted the products with the highest levels of imports in 2022.

Monumental or building stone, other than granite and sandstone, with a CAGR of +2.1%, recorded the highest rates of growth with regard to the value of imports, among the main imported products over the period under review.

Import Prices By Type

In 2022, the average porphyry, basalt and quartzites import price amounted to $187 per ton, rising by 10% against the previous year. Over the last decade, it increased at an average annual rate of +3.3%. The most prominent rate of growth was recorded in 2021 an increase of 29%. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by the product type; the product with the highest price was quartzite ($233 per ton), while the price for monumental or building stone, other than granite and sandstone stood at $149 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by quartzite (+3.6%).

Import Prices By Country

In 2022, the average porphyry, basalt and quartzites import price amounted to $187 per ton, surging by 10% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.3%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 29%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Italy ($679 per ton), while Poland ($24 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+11.0%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Porphyry, Basalt and Quartzites

In 2022, shipments abroad of porphyry, basalt and quartzites decreased by -61.2% to 3.9M tons for the first time since 2017, thus ending a four-year rising trend. In general, exports saw a mild curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 34% against the previous year. As a result, the exports attained the peak of 10M tons, and then shrank rapidly in the following year.

In value terms, porphyry, basalt and quartzites exports declined to $448M in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 25%. Over the period under review, the global exports reached the maximum at $485M in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports By Country

China (739K tons), Germany (594K tons), Norway (575K tons) and Slovakia (463K tons) represented roughly 61% of total exports in 2022. Turkey (201K tons) ranks next in terms of the total exports with a 5.2% share, followed by Brazil (4.7%). The following exporters - Russia (164K tons), India (106K tons), Ukraine (103K tons), Albania (82K tons), Italy (79K tons), Spain (76K tons) and Austria (76K tons) - together made up 18% of total exports.

From 2012 to 2022, the biggest increases were recorded for Slovakia (with a CAGR of +152.6%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Brazil ($100M), Norway ($68M) and Italy ($53M) were the countries with the highest levels of exports in 2022, together comprising 49% of global exports. Turkey, China, India, Germany, Spain, Albania, Russia, Slovakia, Ukraine and Austria lagged somewhat behind, together comprising a further 33%.

In terms of the main exporting countries, Slovakia, with a CAGR of +53.9%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

Monumental or building stone, other than granite and sandstone represented the key type of porphyry, basalt and quartzites in the world, with the volume of exports finishing at 6.3M tons, which was near 76% of total exports in 2022. It was distantly followed by quartzite (1.9M tons), achieving a 24% share of total exports.

Monumental or building stone, other than granite and sandstone was also the fastest-growing in terms of exports, with a CAGR of +10.5% from 2012 to 2022. quartzite (-2.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of monumental or building stone, other than granite and sandstone increased by +28 percentage points.

In value terms, the largest types of exported porphyry, basalt and quartzites were monumental or building stone, other than granite and sandstone ($250M) and quartzite ($220M).

Quartzite, with a CAGR of +1.0%, saw the highest rates of growth with regard to the value of exports, in terms of the main exported products over the period under review.

Export Prices By Type

The average porphyry, basalt and quartzites export price stood at $115 per ton in 2022, growing by 142% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exported products. In 2022, the product with the highest price was quartzite ($114 per ton), while the average price for exports of monumental or building stone, other than granite and sandstone amounted to $40 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by quartzite (+3.4%).

Export Prices By Country

The average porphyry, basalt and quartzites export price stood at $115 per ton in 2022, surging by 142% against the previous year. In general, the export price saw a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Italy ($673 per ton), while Slovakia ($9.7 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+20.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform