Middle East: Crude Granite Market 2024

Crude Granite Market Size in the Middle East

The Middle Eastern crude granite market fell to $X in 2022, stabilizing at the previous year. Overall, consumption, however, showed a perceptible decline. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Crude Granite Production in the Middle East

In value terms, crude granite production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production recorded a perceptible slump. The pace of growth appeared the most rapid in 2013 when the production volume increased by 17%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Crude Granite Exports

Exports in the Middle East

In 2022, approx. X tons of granite (crude) were exported in the Middle East; shrinking by -10.5% compared with the previous year's figure. Over the period under review, exports, however, enjoyed strong growth. The pace of growth was the most pronounced in 2016 with an increase of 45%. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, crude granite exports contracted to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when exports increased by 38% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Palestine (X tons) and Saudi Arabia (X tons) dominates exports structure, together comprising 78% of total exports. It was distantly followed by Israel (X tons) and Iran (X tons), together committing a 17% share of total exports. The United Arab Emirates (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Saudi Arabia (with a CAGR of +20.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest crude granite supplying countries in the Middle East were Palestine ($X), Saudi Arabia ($X) and Iran ($X), with a combined 83% share of total exports.

Among the main exporting countries, Palestine, with a CAGR of +10.5%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, which is down by -2.1% against the previous year. Overall, the export price continues to indicate a deep reduction. The growth pace was the most rapid in 2013 when the export price increased by 11% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Iran ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Palestine (-0.7%), while the other leaders experienced a decline in the export price figures.

Crude Granite Imports

Imports in the Middle East

In 2022, overseas purchases of granite (crude) increased by 376% to X tons, rising for the second year in a row after three years of decline. Overall, imports saw prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, crude granite imports skyrocketed to $X in 2022. Over the period under review, imports showed resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Israel was the major importer of granite (crude) in the Middle East, with the volume of imports reaching X tons, which was near 80% of total imports in 2022. It was distantly followed by Syrian Arab Republic (X tons), comprising a 13% share of total imports. Jordan (X tons) and Iran (X tons) held a relatively small share of total imports.

Israel was also the fastest-growing in terms of the granite (crude) imports, with a CAGR of +44.0% from 2012 to 2022. At the same time, Iran (+24.5%), Syrian Arab Republic (+15.5%) and Jordan (+1.5%) displayed positive paces of growth. While the share of Israel (+73 p.p.) and Syrian Arab Republic (+3.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Jordan (-5.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Israel ($X) constitutes the largest market for imported granite (crude) in the Middle East, comprising 75% of total imports. The second position in the ranking was held by Syrian Arab Republic ($X), with a 13% share of total imports. It was followed by Iran, with a 6% share.

In Israel, crude granite imports increased at an average annual rate of +41.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Syrian Arab Republic (+15.4% per year) and Iran (+44.0% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, rising by 23% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 25%. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat 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 Iran ($X per ton), while Israel ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+15.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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