China: Granite Building Stone Market 2024

Granite Building Stone Market Size in China

For the fourth consecutive year, the Chinese granite building stone market recorded growth in sales value, which increased by 19% to $X in 2021. The market value increased at an average annual rate of +3.0% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Granite Building Stone Production in China

In value terms, granite building stone production dropped to $X in 2021 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 16%. Granite building stone production peaked at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Granite Building Stone Exports

Exports from China

For the fourth year in a row, China recorded decline in shipments abroad of granite building stone, which decreased by -28.4% to X tons in 2021. Over the period under review, exports saw a deep setback. The most prominent rate of growth was recorded in 2017 when exports increased by 5.5% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, granite building stone exports dropped to $X in 2021. In general, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when exports increased by 20% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

South Korea (X tons) was the main destination for granite building stone exports from China, accounting for a 41% share of total exports. Moreover, granite building stone exports to South Korea exceeded the volume sent to the second major destination, Japan (X tons), fivefold. Germany (X tons) ranked third in terms of total exports with a 5.7% share.

From 2012 to 2021, the average annual growth rate of volume to South Korea was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-9.6% per year) and Germany (-8.6% per year).

In value terms, South Korea ($X) remains the key foreign market for granite building stone exports from China, comprising 47% of total exports. The second position in the ranking was taken by Japan ($X), with a 12% share of total exports. It was followed by the United States, with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to South Korea totaled +10.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-7.0% per year) and the United States (-5.7% per year).

Export Prices by Country

In 2021, the average granite building stone export price amounted to $X per ton, growing by 26% against the previous year. Over the period under review, export price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, granite building stone export price increased by +64.0% against 2017 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Norway ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+18.2%), while the prices for the other major destinations experienced more modest paces of growth.

Granite Building Stone Imports

Imports into China

For the seventh year in a row, China recorded growth in supplies from abroad of granite building stone, which increased by 138% to X tons in 2021. Over the period under review, imports recorded a significant expansion. The pace of growth was the most pronounced in 2020 when imports increased by 279%. Over the period under review, imports attained the maximum in 2021 and are likely to see steady growth in the immediate term.

In value terms, granite building stone imports surged to $X in 2021. In general, imports recorded a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Cambodia (X tons) was the main supplier of granite building stone to China, with a 96% share of total imports. It was followed by Vietnam (X tons), with a 1.6% share of total imports. The third position in this ranking was held by Brazil (X tons), with a 0.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Cambodia stood at +151.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+35.6% per year) and Brazil (-7.6% per year).

In value terms, Cambodia ($X) constituted the largest supplier of granite building stone to China, comprising 73% of total imports. The second position in the ranking was held by Brazil ($X), with a 9.2% share of total imports. It was followed by Vietnam, with a 1.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Cambodia totaled +123.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+5.0% per year) and Vietnam (+15.7% per year).

Import Prices by Country

The average granite building stone import price stood at $X per ton in 2021, shrinking by -22.5% against the previous year. In general, the import price continues to indicate a dramatic decrease. The most prominent rate of growth was recorded in 2014 an increase of 37%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+13.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :