MENA: Natural Stone Sett Market 2024

Natural Stone Sett Market Size in MENA

In 2022, the MENA's natural stone sett market was finally on the rise to reach $X after seven years of decline. In general, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Natural Stone Sett Production in MENA

In value terms, natural stone sett production expanded markedly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 25%. The level of production peaked in 2022 and is expected to retain growth in the immediate term.

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Natural Stone Sett Exports

Exports in MENA

In 2022, approx. X tons of natural stone setts, kerbstones and flagstones were exported in MENA; increasing by 16% compared with the previous year's figure. In general, exports, however, continue to indicate a perceptible shrinkage. The growth pace was the most rapid in 2016 when exports increased by 93%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, natural stone sett exports skyrocketed to $X in 2022. Overall, exports, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2014 when exports increased by 39%. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Turkey represented the largest exporting country with an export of around X tons, which recorded 73% of total exports. It was distantly followed by Saudi Arabia (X tons), generating a 20% share of total exports. Oman (X tons) took a relatively small share of total exports.

Turkey was also the fastest-growing in terms of the natural stone setts, kerbstones and flagstones exports, with a CAGR of +30.2% from 2012 to 2022. Saudi Arabia (-1.5%) and Oman (-23.8%) illustrated a downward trend over the same period. While the share of Turkey (+69 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Oman (-44.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest natural stone sett supplier in MENA, comprising 72% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 19% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey amounted to +33.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (-4.6% per year) and Oman (-27.0% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, with an increase of 9% against the previous year. Over the period under review, the export price, however, saw a pronounced decline. The pace of growth was the most pronounced in 2014 an increase of 19%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Oman ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+2.3%), while the other leaders experienced a decline in the export price figures.

Natural Stone Sett Imports

Imports in MENA

In 2022, natural stone sett imports in MENA shrank modestly to X tons, declining by -4.3% against the previous year's figure. Over the period under review, imports faced a abrupt contraction. The pace of growth appeared the most rapid in 2015 with an increase of 24% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, natural stone sett imports reached $X in 2022. In general, imports recorded a precipitous slump. The most prominent rate of growth was recorded in 2013 when imports increased by 8.1%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Iraq (X tons) and Kuwait (X tons) were the major importers of natural stone setts, kerbstones and flagstones in 2022, accounting for near 31% and 30% of total imports, respectively. Saudi Arabia (X tons) took the next position in the ranking, followed by Morocco (X tons) and the United Arab Emirates (X tons). All these countries together held near 28% share of total imports. Qatar (X tons) and Israel (X tons) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Iraq (with a CAGR of +22.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Iraq ($X), Saudi Arabia ($X) and Morocco ($X) constituted the countries with the highest levels of imports in 2022, with a combined 52% share of total imports. Qatar, the United Arab Emirates, Kuwait and Israel lagged somewhat behind, together comprising a further 34%.

Israel, with a CAGR of +24.8%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, surging by 6.9% against the previous year. Over the period under review, the import price, however, saw a deep setback. The pace of growth was the most pronounced in 2019 when the import price increased by 21%. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 Qatar ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+7.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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