Apr 20, 2025
IndexBox has just published a new report: Australia – Granite (Crude) – Market Analysis, Forecast, Size, Trends And Insights.
Driven by rising demand for granite, the Australian market is set to see a steady increase in consumption over the next decade. Market performance is expected to slow down, with a forecasted CAGR of +0.1% from 2024 to 2035, bringing the market volume to 12K tons and a value of $3.5M by the end of 2035.
Market Forecast
Driven by increasing demand for granite (crude) in Australia, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.1% for the period from 2024 to 2035, which is projected to bring the market volume to 12K tons by the end of 2035.
In value terms, the market is forecast to increase with an anticipated CAGR of +0.1% for the period from 2024 to 2035, which is projected to bring the market value to $3.5M (in nominal wholesale prices) by the end of 2035.
ConsumptionAustralia’s Consumption of Granite (Crude)
In 2024, after two years of growth, there was significant decline in consumption of granite (crude), when its volume decreased by -9.2% to 12K tons. Over the period under review, consumption, however, posted a noticeable increase. Over the period under review, consumption attained the peak volume at 13K tons in 2023, and then reduced in the following year.
The revenue of the crude granite market in Australia fell to $3.5M in 2024, waning by -5% 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, however, continues to indicate a remarkable increase. Over the period under review, the market hit record highs at $4M in 2022; however, from 2023 to 2024, consumption failed to regain momentum.
ProductionAustralia’s Production of Granite (Crude)
In 2024, the amount of granite (crude) produced in Australia stood at 14K tons, stabilizing at 2023 figures. The total output volume increased at an average annual rate of +1.1% over the period from 2013 to 2024; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 1.7% against the previous year. Over the period under review, production attained the maximum volume at 14K tons in 2022; however, from 2023 to 2024, production failed to regain momentum.
In value terms, crude granite production amounted to $4.2M in 2024 estimated in export price. The total output value increased at an average annual rate of +2.6% over the period from 2013 to 2024; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of 42% against the previous year. Crude granite production peaked at $4.4M in 2022; however, from 2023 to 2024, production remained at a lower figure.
ImportsAustralia’s Imports of Granite (Crude)
In 2024, crude granite imports into Australia contracted dramatically to 33 tons, with a decrease of -31.2% against 2023. In general, imports continue to indicate a precipitous setback. The most prominent rate of growth was recorded in 2016 when imports increased by 114% against the previous year. Imports peaked at 2.9K tons in 2014; however, from 2015 to 2024, imports failed to regain momentum.
In value terms, crude granite imports fell sharply to $10K in 2024. Over the period under review, imports showed a precipitous decline. The pace of growth was the most pronounced in 2020 when imports increased by 102% against the previous year. Over the period under review, imports reached the maximum at $726K in 2013; however, from 2014 to 2024, imports remained at a lower figure.
Imports By Country
Finland (7.5 tons) and China (4.7 tons) were the main suppliers of crude granite imports to Australia.
From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Finland (with a CAGR of +0.8%).
In value terms, the largest crude granite suppliers to Australia were China ($3.7K) and Finland ($2.2K).
China, with a CAGR of -16.9%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review.
Import Prices By Country
The average crude granite import price stood at $309 per ton in 2024, dropping by -56.8% against the previous year. Overall, the import price, however, saw pronounced growth. The pace of growth appeared the most rapid in 2015 when the average import price increased by 116% against the previous year. Over the period under review, average import prices hit record highs at $716 per ton in 2023, and then declined remarkably in the following year.
There were significant differences in the average prices amongst the major supplying countries. In 2024, amid the top importers, the country with the highest price was China ($774 per ton), while the price for Finland totaled $292 per ton.
From 2013 to 2024, the most notable rate of growth in terms of prices was attained by China (+9.2%).
ExportsAustralia’s Exports of Granite (Crude)
In 2024, overseas shipments of granite (crude) were finally on the rise to reach 2.2K tons after two years of decline. Over the period under review, exports, however, showed a abrupt descent. The exports peaked at 9.8K tons in 2014; however, from 2015 to 2024, the exports failed to regain momentum.
In value terms, crude granite exports skyrocketed to $717K in 2024. In general, exports, however, recorded a drastic downturn. The exports peaked at $2.1M in 2014; however, from 2015 to 2024, the exports remained at a lower figure.
Exports By Country
China (1.6K tons) and Indonesia (812 tons) were the main destinations of crude granite exports from Australia.
From 2013 to 2024, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Indonesia (with a CAGR of -7.9%).
In value terms, Indonesia ($378K) and China ($314K) constituted the largest markets for crude granite exported from Australia worldwide.
Among the main countries of destination, Indonesia, with a CAGR of -4.5%, saw the highest rates of growth with regard to the value of exports, over the period under review.
Export Prices By Country
The average crude granite export price stood at $333 per ton in 2024, waning by -3.6% against the previous year. Overall, the export price, however, saw perceptible growth. The most prominent rate of growth was recorded in 2017 an increase of 134% against the previous year. Over the period under review, the average export prices attained the peak figure at $357 per ton in 2022; however, from 2023 to 2024, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($466 per ton), while the average price for exports to China stood at $196 per ton.
From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+3.7%), while the prices for the other major destinations experienced mixed trend patterns.