World - Granite Building Stone - Market Analysis, Forecast, Size, Trends And Insights
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View PricingGranite Building Stone Market
Driven by rising demand for granite building stone worldwide, the market is expected to see growth in both volume and value over the next eight years. China remains the largest consumer and producer, while the United States and South Korea are top importers. The global market shows a relatively flat trend pattern in consumption, production, imports, and exports. Prices vary by country, with China leading in both exports and imports. Overall, the market is forecasted to continue growing in the immediate term.
Market Forecast
Driven by rising demand for granite building stone worldwide, the market is expected to start an upward consumption trend over the next eight years. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.3% for the period from 2022 to 2030, which is projected to bring the market volume to 32M tons by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +3.5% for the period from 2022 to 2030, which is projected to bring the market value to $22.8B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Granite Building Stone
In 2022, the amount of granite building stone consumed worldwide reduced slightly to 29M tons, remaining stable against the previous year's figure. In general, consumption showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the consumption volume increased by 6.1% against the previous year. As a result, consumption reached the peak volume of 29M tons, and then dropped modestly in the following year.
The global granite building stone market value reached $17.3B in 2022, approximately mirroring 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, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the market value increased by 9.4% against the previous year. Global consumption peaked in 2022 and is likely to see steady growth in the immediate term.
Consumption By Country
China (9.2M tons) remains the largest granite building stone consuming country worldwide, accounting for 32% of total volume. Moreover, granite building stone consumption in China exceeded the figures recorded by the second-largest consumer, the United States (3.3M tons), threefold. India (2.1M tons) ranked third in terms of total consumption with a 7.2% share.
In China, granite building stone consumption remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+1.2% per year) and India (-0.2% per year).
In value terms, China ($5.3B) led the market, alone. The second position in the ranking was held by the United States ($2.3B). It was followed by Turkey.
In China, the granite building stone market increased at an average annual rate of +3.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+3.5% per year) and Turkey (+7.5% per year).
In 2022, the highest levels of granite building stone per capita consumption was registered in South Korea (29 kg per person), followed by the United States (9.8 kg per person), Turkey (9.6 kg per person) and Italy (9.4 kg per person), while the world average per capita consumption of granite building stone was estimated at 3.6 kg per person.
From 2012 to 2022, the average annual rate of growth in terms of the granite building stone per capita consumption in South Korea stood at -3.5%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: the United States (+0.5% per year) and Turkey (+7.1% per year).
Production
World Production of Granite Building Stone
In 2022, the amount of granite building stone produced worldwide fell to 30M tons, therefore, remained relatively stable against the previous year. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 9.8%. As a result, production attained the peak volume of 31M tons. From 2018 to 2022, global production growth failed to regain momentum.
In value terms, granite building stone production amounted to $19.2B in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 9.9%. As a result, production attained the peak level of $19.3B. From 2016 to 2022, global production growth remained at a lower figure.
Production By Country
The country with the largest volume of granite building stone production was China (13M tons), accounting for 43% of total volume. Moreover, granite building stone production in China exceeded the figures recorded by the second-largest producer, India (4.6M tons), threefold. The United States (1.9M tons) ranked third in terms of total production with a 6.2% share.
From 2012 to 2022, the average annual growth rate of volume in China amounted to -2.1%. In the other countries, the average annual rates were as follows: India (+3.1% per year) and the United States (+1.7% per year).
Imports
World Imports of Granite Building Stone
Global granite building stone imports fell slightly to 8.1M tons in 2022, reducing by -1.7% against 2021. Overall, imports saw a mild decline. The pace of growth appeared the most rapid in 2014 with an increase of 9.4%. As a result, imports attained the peak of 11M tons. From 2015 to 2022, the growth of global imports remained at a somewhat lower figure.
In value terms, granite building stone imports rose modestly to $4.6B in 2022. In general, imports recorded a slight slump. The pace of growth appeared the most rapid in 2021 with an increase of 15% against the previous year. Over the period under review, global imports reached the peak figure at $5.9B in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.
Imports By Country
South Korea (1.5M tons) and the United States (1.4M tons) represented roughly 37% of total imports in 2022. It was distantly followed by Germany (557K tons), creating a 6.9% share of total imports. Japan (298K tons), Saudi Arabia (201K tons), Vietnam (179K tons), the United Arab Emirates (175K tons), Qatar (164K tons), Poland (158K tons), Canada (144K tons), Nepal (136K tons), Morocco (135K tons) and Turkey (122K tons) held a minor share of total imports.
From 2012 to 2022, the biggest increases were recorded for Nepal (with a CAGR of +58.0%), while purchases for the other global leaders experienced more modest paces of growth.
In value terms, the United States ($892M), South Korea ($502M) and Japan ($369M) appeared to be the countries with the highest levels of imports in 2022, with a combined 38% share of global imports. Germany, Vietnam, Poland, Morocco, the United Arab Emirates, Qatar, Canada, Saudi Arabia, Turkey and Nepal lagged somewhat behind, together accounting for a further 21%.
Among the main importing countries, Nepal, with a CAGR of +49.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.
Import Prices By Country
The average granite building stone import price stood at $576 per ton in 2022, picking up by 6.7% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 13% against the previous year. Global import price peaked in 2022 and is expected to retain growth in years to come.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($1,239 per ton), while Nepal ($230 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+4.4%), while the other global leaders experienced more modest paces of growth.
Exports
World Exports of Granite Building Stone
In 2022, global exports of granite building stone fell modestly to 9.5M tons, leveling off at 2021 figures. In general, exports saw a slight slump. The growth pace was the most rapid in 2017 with an increase of 14% against the previous year. As a result, the exports attained the peak of 12M tons. From 2018 to 2022, the growth of the global exports remained at a lower figure.
In value terms, granite building stone exports surged to $6.9B in 2022. The total export value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the global exports hit record highs at $7.6B in 2015; however, from 2016 to 2022, the exports failed to regain momentum.
Exports By Country
In 2022, China (3.8M tons), distantly followed by India (2.5M tons), Brazil (0.7M tons) and Thailand (0.6M tons) represented the main exporters of granite building stone, together mixing up 81% of total exports. Italy (397K tons), Spain (298K tons) and Portugal (257K tons) followed a long way behind the leaders.
From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +16.2%), while shipments for the other global leaders experienced more modest paces of growth.
In value terms, China ($4.1B) remains the largest granite building stone supplier worldwide, comprising 59% of global exports. The second position in the ranking was held by India ($1.1B), with a 16% share of global exports. It was followed by Italy, with a 6.9% share.
From 2012 to 2022, the average annual growth rate of value in China stood at +2.6%. The remaining exporting countries recorded the following average annual rates of exports growth: India (+2.8% per year) and Italy (-2.1% per year).
Export Prices By Country
In 2022, the average granite building stone export price amounted to $728 per ton, growing by 21% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.8%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Italy ($1,198 per ton), while Thailand ($7.2 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.7%), while the other global leaders experienced mixed trends in the export price figures.
This report provides an in-depth analysis of the global granite building stone market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 23701260 - Worked monumental or building stone and articles thereof, of granite (excluding tiles, cubes and similar articles, of which the largest surface area is capable of being enclosed in a square the side of which is < 7 cm, setts, kerbstones and
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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