Monumental Stone Granules And Powder Market

The global market for granules, chippings, and powder of monumental stone is expected to experience steady growth over the next eight years, with a projected increase in market volume to 2,216M tons and market value to $603.1B by 2030. Consumption and production of these materials have shown strong growth patterns, with notable increases in certain countries like Nigeria. Imports and exports of monumental stone products have also seen fluctuations, with China and Germany being the largest exporters. The average import and export prices have shown varying trends by country of origin and destination.

Market Forecast

Driven by increasing demand for granules, chippings and powder of monumental stone 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 +4.6% for the period from 2022 to 2030, which is projected to bring the market volume to 2,216M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +8.1% for the period from 2022 to 2030, which is projected to bring the market value to $603.1B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Granules, Chippings And Powder Of Monumental Stone

After two years of growth, consumption of granules, chippings and powder of monumental stone decreased by -2.2% to 1,542M tons in 2022. Over the period under review, consumption, however, showed strong growth. Global consumption peaked at 1,578M tons in 2021, and then declined in the following year.

The value of the market for granules, chippings and powder of monumental stone worldwide reduced modestly to $323.9B in 2022, which is down by -1.9% 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). In general, consumption, however, enjoyed a resilient increase. Global consumption peaked at $355.9B in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (256M tons), the United States (142M tons) and India (96M tons), together accounting for 32% of global consumption. Germany, Russia, Indonesia, Brazil, France, the UK, Pakistan, Nigeria, Mexico and Italy lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Nigeria (with a CAGR of +15.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Nigeria ($52.1B), the United States ($45.7B) and Indonesia ($5.3B) appeared to be the countries with the highest levels of market value in 2022, together accounting for 32% of the global market. India, Italy, the UK, Russia, Pakistan, Brazil, China, France, Germany and Mexico lagged somewhat behind, together accounting for a further 9%.

France, with a CAGR of +15.3%, recorded the highest growth rate of market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of monumental stone granules and powder per capita consumption in 2022 were Germany (655 kg per person), France (593 kg per person) and the UK (562 kg per person).

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +12.0%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Granules, Chippings And Powder Of Monumental Stone

In 2022, production of granules, chippings and powder of monumental stone decreased by -2.3% to 1,544M tons for the first time since 2019, thus ending a two-year rising trend. Overall, production, however, saw a strong expansion. The growth pace was the most rapid in 2016 with an increase of 32%. Over the period under review, global production reached the maximum volume at 1,580M tons in 2021, and then reduced in the following year.

In value terms, monumental stone granules and powder production shrank slightly to $328.3B in 2022 estimated in export price. In general, production, however, continues to indicate a resilient increase. The pace of growth appeared the most rapid in 2016 when the production volume increased by 49%. Global production peaked at $362.5B in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (268M tons), the United States (140M tons) and India (96M tons), with a combined 33% share of global production. Germany, Russia, Indonesia, Brazil, France, the UK, Pakistan, Nigeria, Mexico and Italy lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +15.0%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Granules, Chippings And Powder Of Monumental Stone

In 2022, supplies from abroad of granules, chippings and powder of monumental stone decreased by -14% to 20M tons, falling for the second consecutive year after two years of growth. Overall, total imports indicated a slight expansion from 2012 to 2022: its volume increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -44.9% against 2020 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 42%. As a result, imports reached the peak of 37M tons. From 2021 to 2022, the growth of global imports remained at a somewhat lower figure.

In value terms, monumental stone granules and powder imports declined remarkably to $468M in 2022. In general, imports, however, showed a modest increase. The pace of growth appeared the most rapid in 2020 with an increase of 31%. As a result, imports attained the peak of $854M. From 2021 to 2022, the growth of global imports remained at a somewhat lower figure.

Imports By Country

The purchases of the four major importers of granules, chippings and powder of monumental stone, namely Hong Kong SAR, Taiwan (Chinese), Germany and France, represented more than two-thirds of total import. It was distantly followed by the United States (1.4M tons), mixing up a 6.9% share of total imports. The following importers - the Netherlands (712K tons), Switzerland (548K tons), Singapore (405K tons), Macao SAR (381K tons) and Sweden (353K tons) - together made up 12% of total imports.

From 2012 to 2022, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +120.2%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($90M), Germany ($62M) and Taiwan (Chinese) ($44M) were the countries with the highest levels of imports in 2022, together comprising 42% of global imports.

In terms of the main importing countries, Hong Kong SAR, with a CAGR of +89.9%, 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

In 2022, the average import price for granules, chippings and powder of monumental stone amounted to $23 per ton, falling by -1.6% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 9.6%. Global import price peaked at $25 per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Netherlands ($51 per ton), while the United States ($5.8 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Macao SAR (+6.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Granules, Chippings And Powder Of Monumental Stone

In 2022, shipments abroad of granules, chippings and powder of monumental stone decreased by -14.5% to 22M tons, falling for the second year in a row after two years of growth. Overall, exports, however, posted a mild increase. The pace of growth was the most pronounced in 2019 when exports increased by 59% against the previous year. The global exports peaked at 51M tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, monumental stone granules and powder exports fell to $459M in 2022. In general, exports, however, showed notable growth. The growth pace was the most rapid in 2019 with an increase of 27%. As a result, the exports attained the peak of $760M. From 2020 to 2022, the growth of the global exports remained at a lower figure.

Exports By Country

China represented the largest exporting country with an export of about 12M tons, which finished at 56% of total exports. Germany (3.4M tons) ranks second in terms of the total exports with a 15% share, followed by Norway (6.8%), Thailand (5.7%) and Belgium (4.6%). Austria (528K tons) followed a long way behind the leaders.

China experienced a relatively flat trend pattern with regard to volume of exports of granules, chippings and powder of monumental stone. At the same time, Thailand (+166.9%), Belgium (+23.6%), Austria (+17.6%) and Norway (+2.0%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in the world, with a CAGR of +166.9% from 2012-2022. By contrast, Germany (-1.2%) illustrated a downward trend over the same period. Thailand (+5.7 p.p.), Belgium (+4 p.p.) and Austria (+1.8 p.p.) significantly strengthened its position in terms of the global exports, while China and Germany saw its share reduced by -3.1% and -4.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest monumental stone granules and powder supplying countries worldwide were China ($114M), Germany ($105M) and Norway ($71M), with a combined 63% share of global exports. Belgium, Thailand and Austria lagged somewhat behind, together comprising a further 11%.

In terms of the main exporting countries, Thailand, with a CAGR of +76.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average export price for granules, chippings and powder of monumental stone amounted to $21 per ton, rising by 6.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2021 an increase of 33% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Norway ($47 per ton), while China ($9.2 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+11.5%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform