South Africa: Granite Building Stone Market 2024

Granite Building Stone Market Size in South Africa

The South African granite building stone market declined modestly to $X in 2021, dropping by -4.2% against the previous year. Over the period under review, consumption, however, showed a slight slump. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Granite Building Stone Production in South Africa

In value terms, granite building stone production shrank modestly to $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 26%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

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Granite Building Stone Exports

Exports from South Africa

Granite building stone exports from South Africa rose markedly to X tons in 2021, growing by 13% compared with the previous year. The total export volume increased at an average annual rate of +6.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when exports increased by 34% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, granite building stone exports soared to $X in 2021. The total export value increased at an average annual rate of +5.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons), China (X tons) and Belgium (X tons) were the main destinations of granite building stone exports from South Africa, with a combined 42% share of total exports. These countries were followed by Italy, the United States, Poland, Croatia, Namibia, Botswana, the Netherlands and the UK, which together accounted for a further 48%.

From 2012 to 2021, the biggest increases were recorded for Namibia (with a CAGR of +33.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the United States ($X) and Belgium ($X) were the largest markets for granite building stone exported from South Africa worldwide, with a combined 49% share of total exports. Italy, Poland, Croatia, Botswana, China, Namibia, the UK and the Netherlands lagged somewhat behind, together comprising a further 38%.

Namibia, with a CAGR of +21.3%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average granite building stone export price stood at $X per ton in 2021, rising by 13% against the previous year. Overall, the export price, however, showed a slight contraction. The growth pace was the most rapid in 2020 an increase of 22%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to China ($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 the UK (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.

Granite Building Stone Imports

Imports into South Africa

After three years of decline, overseas purchases of granite building stone increased by 1.1% to X tons in 2021. In general, imports, however, showed a deep setback. The growth pace was the most rapid in 2017 with an increase of 14%. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, granite building stone imports surged to $X in 2021. Over the period under review, imports, however, saw a abrupt decline. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of granite building stone to South Africa, with a 72% share of total imports. Moreover, granite building stone imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), fivefold. Namibia (X tons) ranked third in terms of total imports with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-9.3% per year) and Namibia (-8.9% per year).

In value terms, China ($X) constituted the largest supplier of granite building stone to South Africa, comprising 69% of total imports. The second position in the ranking was held by India ($X), with a 17% share of total imports. It was followed by Zimbabwe, with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-12.7% per year) and Zimbabwe (+11.7% per year).

Import Prices by Country

In 2021, the average granite building stone import price amounted to $X per ton, with an increase of 22% against the previous year. Overall, the import price, however, showed a abrupt decrease. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Zimbabwe ($X per ton), while the price for Namibia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Namibia (+6.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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