Malaysia: Natural Stone Sett Market 2024

Natural Stone Sett Market Size in Malaysia

The Malaysian natural stone sett market declined markedly to $X in 2022, waning by X% against 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). Overall, consumption saw a noticeable decrease. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Natural Stone Sett Exports

Exports from Malaysia

In 2022, overseas shipments of natural stone setts, kerbstones and flagstones increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, exports showed a significant expansion. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, natural stone sett exports soared to $X in 2022. Over the period under review, exports posted a strong expansion. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Singapore (X tons), China (X tons) and Sri Lanka (X tons) were the main destinations of natural stone sett exports from Malaysia, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Singapore (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

It was followed by Sri Lanka, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Singapore totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (X% per year) and Sri Lanka (X% per year).

Export Prices by Country

In 2022, the average natural stone sett export price amounted to $X per ton, with a decrease of X% against the previous year. Overall, the export price showed a abrupt curtailment. The growth pace was the most rapid in 2014 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2021, and then dropped remarkably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to China ($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 Thailand (X.1%), while the prices for the other major destinations experienced more modest paces of growth.

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Natural Stone Sett Imports

Imports into Malaysia

In 2022, approx. X tons of natural stone setts, kerbstones and flagstones were imported into Malaysia; waning by X% on the year before. Over the period under review, imports recorded a deep reduction. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, natural stone sett imports shrank dramatically to $X in 2022. Overall, imports continue to indicate a perceptible decline. The growth pace was the most rapid in 2013 when imports increased by X%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Vietnam (X tons) constituted the largest natural stone sett supplier to Malaysia, accounting for a X% share of total imports. Moreover, natural stone sett imports from Vietnam exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), threefold. China (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Vietnam stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and China (X% per year).

In value terms, Vietnam ($X), Indonesia ($X) and China ($X) constituted the largest natural stone sett suppliers to Malaysia, with a combined X% share of total imports. Pakistan and India lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, India, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average natural stone sett import price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, import price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, natural stone sett import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Pakistan ($X per ton), while the price for Vietnam ($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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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