Slate Market

The global slate market is expected to continue its upward consumption trend fueled by rising demand, with projections for growth in volume and value terms over the next eight years. Sudan dominates both consumption and production, while France leads in exports. Price trends show fluctuations with China as the top supplier and exporter.

Market Forecast

Driven by increasing demand for slate worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +5.7% for the period from 2022 to 2030, which is projected to bring the market volume to 187M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +7.1% for the period from 2022 to 2030, which is projected to bring the market value to $46B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Slate

Global slate consumption expanded slightly to 120M tons in 2022, growing by 4.4% on 2021. In general, consumption recorded a buoyant increase. Global consumption peaked at 123M tons in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

The global slate market revenue expanded remarkably to $26.5B in 2022, surging by 5.1% against 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 recorded a prominent expansion. Global consumption peaked at $27B in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

Sudan (97M tons) remains the largest slate consuming country worldwide, comprising approx. 81% of total volume. Moreover, slate consumption in Sudan exceeded the figures recorded by the second-largest consumer, Japan (4.5M tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume in Sudan stood at +14.0%. The remaining consuming countries recorded the following average annual rates of consumption growth: Japan (-2.2% per year) and China (+12.6% per year).

In value terms, Sudan ($15.8B) led the market, alone. The second position in the ranking was held by Japan ($4.1B).

In Sudan, the slate market increased at an average annual rate of +14.0% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: Japan (-2.1% per year) and China (+18.6% per year).

From 2012 to 2022, the average annual growth rate of the slate per capita consumption in Sudan amounted to +14.2%. In the other countries, the average annual rates were as follows: Japan (-1.9% per year) and China (+12.5% per year).

Production

World Production of Slate

In 2022, the amount of slate produced worldwide totaled 120M tons, growing by 4.4% on the previous year. Overall, production enjoyed a strong expansion. The most prominent rate of growth was recorded in 2014 when the production volume increased by 41%. Over the period under review, global production reached the peak volume at 123M tons in 2020; however, from 2021 to 2022, production failed to regain momentum.

In value terms, slate production rose significantly to $33.2B in 2022 estimated in export price. Over the period under review, production posted strong growth. The most prominent rate of growth was recorded in 2014 with an increase of 83% against the previous year. Global production peaked at $36.3B in 2020; however, from 2021 to 2022, production failed to regain momentum.

Production By Country

Sudan (97M tons) remains the largest slate producing country worldwide, accounting for 81% of total volume. Moreover, slate production in Sudan exceeded the figures recorded by the second-largest producer, Japan (4.5M tons), more than tenfold.

In Sudan, slate production increased at an average annual rate of +14.0% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Japan (-2.2% per year) and China (+12.2% per year).

Imports

World Imports of Slate

In 2022, overseas purchases of slate decreased by -4.5% to 295K tons, falling for the fifth year in a row after two years of growth. In general, imports continue to indicate a mild decline. The pace of growth was the most pronounced in 2013 with an increase of 26% against the previous year. As a result, imports attained the peak of 436K tons. From 2014 to 2022, the growth of global imports remained at a somewhat lower figure.

In value terms, slate imports declined dramatically to $70M in 2022. Overall, imports showed a noticeable decline. The pace of growth was the most pronounced in 2016 when imports increased by 8.5%. Over the period under review, global imports attained the peak figure at $92M in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports By Country

In 2022, Belgium (40K tons), Italy (39K tons), France (35K tons) and Germany (27K tons) represented the major importer of slate in the world, making up 48% of total import. The Czech Republic (15K tons) ranks next in terms of the total imports with a 5% share, followed by the UK (4.6%) and Canada (4.5%). Portugal (8.7K tons), Switzerland (7.9K tons), Denmark (6.4K tons), Spain (5.1K tons) and Sweden (4.8K tons) held a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Portugal (with a CAGR of +24.7%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the UK ($7.6M), France ($6.9M) and Italy ($5M) constituted the countries with the highest levels of imports in 2022, with a combined 28% share of global imports. Germany, Portugal, Belgium, Sweden, Switzerland, Denmark, Spain, the Czech Republic and Canada lagged somewhat behind, together accounting for a further 29%.

Portugal, with a CAGR of +34.9%, 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 global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average slate import price amounted to $236 per ton, declining by -12.3% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 15%. Global import price peaked at $269 per ton in 2021, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the UK ($556 per ton), while Canada ($44 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+8.2%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Slate

In 2022, shipments abroad of slate increased by 0.8% to 353K tons, rising for the second year in a row after two years of decline. Over the period under review, exports, however, saw a pronounced reduction. The pace of growth was the most pronounced in 2014 with an increase of 14%. As a result, the exports reached the peak of 575K tons. From 2015 to 2022, the growth of the global exports remained at a lower figure.

In value terms, slate exports expanded remarkably to $87M in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 12% against the previous year. As a result, the exports reached the peak of $97M. From 2015 to 2022, the growth of the global exports remained at a lower figure.

Exports By Country

France represented the main exporting country with an export of about 118K tons, which accounted for 33% of total exports. Spain (46K tons) held a 13% share (based on physical terms) of total exports, which put it in second place, followed by India (10%), Germany (7.7%), the Netherlands (7.3%) and China (6.8%). Portugal (16K tons), Poland (13K tons), Greece (12K tons) and the United States (8.9K tons) followed a long way behind the leaders.

France experienced a relatively flat trend pattern with regard to volume of exports of slate. At the same time, the United States (+24.0%), Spain (+12.2%), Germany (+4.0%) and Greece (+1.3%) displayed positive paces of growth. Moreover, the United States emerged as the fastest-growing exporter exported in the world, with a CAGR of +24.0% from 2012-2022. Portugal experienced a relatively flat trend pattern. By contrast, the Netherlands (-3.7%), China (-7.6%), India (-8.9%) and Poland (-10.5%) illustrated a downward trend over the same period. While the share of France (+12 p.p.), Spain (+10 p.p.), Germany (+4.5 p.p.), the United States (+2.3 p.p.), Portugal (+1.9 p.p.) and Greece (+1.5 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of China (-2.5 p.p.), Poland (-3.3 p.p.) and India (-5.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($39M) remains the largest slate supplier worldwide, comprising 45% of global exports. The second position in the ranking was held by India ($12M), with a 14% share of global exports. It was followed by France, with a 13% share.

In China, slate exports expanded at an average annual rate of +15.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (-5.2% per year) and France (-0.8% per year).

Export Prices By Country

The average slate export price stood at $247 per ton in 2022, with an increase of 8.5% against the previous year. Over the period under review, export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, slate export price decreased by -1.6% against 2020 indices. The growth pace was the most rapid in 2020 when the average export price increased by 48% against the previous year. As a result, the export price attained the peak level of $251 per ton. From 2021 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($1,624 per ton), while the United States ($43 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+25.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform