China: Granite Block Market 2024

Granite Block Market Size in China

In 2022, the Chinese granite block market increased by 6.4% to $X, rising for the second year in a row after two years of decline. In general, the total consumption indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +48.0% against 2020 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Granite Block Production in China

In value terms, granite block production fell to $X in 2022 estimated in export price. Overall, production, however, showed a buoyant increase. The pace of growth appeared the most rapid in 2019 when the production volume increased by 436%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Granite Block Exports

Exports from China

In 2022, the amount of granite blocks and slabs exported from China skyrocketed to X tons, with an increase of 34% against the previous year's figure. Overall, exports, however, saw a abrupt decrease. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, granite block exports surged to $X in 2022. In general, exports showed a mild increase. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Thailand (X tons), Pakistan (X tons) and Indonesia (X tons) were the main destinations of granite block exports from China, together comprising 25% of total exports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +60.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) remains the key foreign market for granite blocks and slabs exports from China, comprising 22% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 5% share of total exports. It was followed by Pakistan, with a 2.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Thailand totaled +5.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+76.7% per year) and Pakistan (+30.9% per year).

Export Prices by Country

In 2022, the average granite block export price amounted to $X per ton, increasing by 93% against the previous year. Overall, the export price saw strong growth. 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 for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+75.0%), while the prices for the other major destinations experienced more modest paces of growth.

Granite Block Imports

Imports into China

For the third year in a row, China recorded growth in purchases abroad of granite blocks and slabs, which increased by 36% to X tons in 2022. In general, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when imports increased by 42%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, granite block imports skyrocketed to $X in 2022. Overall, total imports indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +161.7% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 41% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

India (X tons), Brazil (X tons) and South Africa (X tons) were the main suppliers of granite block imports to China, with a combined 98% share of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +7.5%), while purchases for the other leaders experienced a decline.

In value terms, the largest granite block suppliers to China were Brazil ($X), India ($X) and South Africa ($X), with a combined 97% share of total imports.

India, with a CAGR of +9.7%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average granite block import price stood at $X per ton in 2022, leveling off at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.0%. The growth pace was the most rapid in 2019 when the average import price increased by 46%. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then dropped modestly in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+2.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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