The global granite market continues its strong and steady growth through 2018, mainly driven by the increasing consumption of exterior and interior materials in the building and demand from the global construction industry. In BizVibe’s comprehensive global granite market analysis we break down the top nation’s and driving factors for the market’s growth. India, as one of the world’s largest producer of natural stones, has long been leading the global granite market with granite production and granite exports over the decades. With the continuous growth of global granite demand in both the residential and commercial property market, India’s leading position in the global granite market is expected to be further strengthened, while the business opportunities with top granite exporters in India are also likely to flourish further.
Granite is a common type of felsic intrusive igneous rock in granular form. Due to its different mineralogy, granite can be white, pink, or grey in color. With historical application dating back centuries of years, granite and related marble industries are considered to be one of the oldest industries in the world. Thanks to its notable advantages of being hard, durable, stain resistant, it is nowadays widely used in sculpture & memorials, building, construction and many other sectors. Most common granite products include kitchen countertops, bath vanity tops, backsplashes, bathroom sinks & basins, and table tops or desktops. Although, the high cost of granite and labor-intensive installation are some of the nominal drawbacks of granite.
According to the latest market report, the global granite market size was valued at US$14.76 billion in 2016, and this figure is expected to reach US$17.68 billion by 2021. Over the past five years, the global granite market maintained a strong annual growth rate of 3.3% from US$13.39 billion in 2013. The market growth is mainly driven by the surging construction and renovation activities in developed countries, rapid industrialization and urbanization in developing countries, changing consumer preference for natural looking home décor, and the growing commercial value of granite products in the global market.
Geographically, the Asia Pacific region represents the largest share and the fastest growth rate in the global granite market so far. The growth in the region is led by the rising residential and infrastructure construction activities in major economies such as China, India, Thailand, Indonesia and other Southeast Asian countries.
Currently, some of the world’s largest granite producing companies include Ablegroup Berhad, American Marazzi Tile Inc., CaesarStone, Cosentino S.A., Craig Baker Marble Co. Inc., Levantina y Asociados Minerals SA, Dakota Granite, Daltile, Duracite Inc., JNR Granite Import & Export Ltd, Precision Countertops, Granite Transformations, American Marble & Stoneworks Inc., and Vangura Surfacing Products Inc.
India has one of the highest granite reserves in the world. With a varied diversity of more than 110 shades, India accounts for over 20 percent of the total granite reserves across the world. The total granite reserves in the India are estimated around 13.87 Crore tonnes and it is one of the largest exporters of granite and granite products in the world. Geologically the Southern and Eastern belts of the nation are places where granite is available in abundance such as those in Tamil Nadu, Andhra Pradesh, Karnataka, Maharashtra, Assam, Bihar, Rajasthan, Orissa, Meghalaya and Madhya Pradesh.
Read more: Mica Industry in India: Major Producer and Exporter of Mica in the World
Despite the global competition from the countries like China, Brazil, and Saudi Arabia, the Indian granite exports still maintain a 4% annual growth rate over the last few years. According to the latest trading data from ITC, India exported total 1.65 million tonnes in volume, or the equivalent of US$839 million in value of granite and granite products to the global market in 2016, representing over 39.3% of the world’s total granite exports in that year. The revenue from the granite exports in India is the largest in the stone exports industry. Granite exporters in India export most of its granite to China (55%), the UK (18%), and the US (5%).
The prominence of the granite industry in India has attracted a significant number of buyers and traders from all over the world to source granite and other natural stone products in India. To help your business stays at the top of the industry, BizVibe provides the best solutions to source the products and make the best business deals with the top granite exporters in India. Don’t miss your chance to connect with the best industry suppliers, manufacturers, and exporters on BizVibe.
Whether you’re conducting competitive research or looking for new and reliable suppliers, quality producers or top wholesalers, BizVibe makes it easy to grow your business. No matter what your professional goals, BizVibe will help you reach them by introducing you to key industry players and decision-makers across the globe. We cover granite exporters in India in our granite market analysis, let us know in the comments which other countries you’d like us to focus on for our next granite industry profile.
Leading Granite Exporters in India Found on BizVibe: