U.S.: Granite Block Market 2024

Granite Block Market Size in the U.S.

After two years of decline, the U.S. granite block market increased by 1% to $X in 2022. The market value increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Granite block consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Granite Block Production in the U.S.

In value terms, granite block production stood at $X in 2022. The total output value increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by 15% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Granite Block Exports

Exports from the U.S.

In 2022, approx. X tons of granite blocks and slabs were exported from the United States; declining by -11% against the previous year's figure. Overall, exports showed a slight curtailment. The pace of growth appeared the most rapid in 2021 when exports increased by 37% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, granite block exports expanded rapidly to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 41% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Canada (X tons) was the main destination for granite block exports from the United States, with a 85% share of total exports. Moreover, granite block exports to Canada exceeded the volume sent to the second major destination, Italy (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Canada totaled +1.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+2.8% per year) and China (-14.5% per year).

In value terms, Canada ($X) remains the key foreign market for granite blocks and slabs exports from the United States, comprising 81% of total exports. The second position in the ranking was held by Italy ($X), with a 4.7% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Canada stood at +4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+2.0% per year) and China (-12.4% per year).

Export Prices by Country

In 2022, the average granite block export price amounted to $X per ton, surging by 23% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to China ($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 China (+2.5%), while the prices for the other major destinations experienced mixed trend patterns.

Granite Block Imports

Imports into the U.S.

In 2022, imports of granite blocks and slabs into the United States fell dramatically to X tons, with a decrease of -28.1% compared with the year before. Over the period under review, imports recorded a abrupt downturn. The pace of growth appeared the most rapid in 2015 with an increase of 78% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, granite block imports contracted to $X in 2022. Overall, imports saw a mild decrease. The growth pace was the most rapid in 2015 with an increase of 68% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Canada (X tons) constituted the largest supplier of granite block to the United States, accounting for a 58% share of total imports. Moreover, granite block imports from Canada exceeded the figures recorded by the second-largest supplier, South Africa (X tons), twofold. India (X tons) ranked third in terms of total imports with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Canada amounted to +10.5%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+78.8% per year) and India (-29.2% per year).

In value terms, the largest granite block suppliers to the United States were Canada ($X), South Africa ($X) and India ($X), with a combined 82% share of total imports.

Among the main suppliers, South Africa, with a CAGR of +82.4%, 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

In 2022, the average granite block import price amounted to $X per ton, surging by 19% against the previous year. Overall, import price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +7.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, granite block import price increased by +23.3% against 2020 indices. The pace of growth appeared the most rapid in 2014 when the average import price increased by 54% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 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 India ($X per ton), while the price for Canada ($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 (+20.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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