Asia’s Porphyry, Basalt & Quartzite Market Posts Solid Gains in 2024
Photo Courtesy of IndexBox
Asia's production of porphyry, basalt, and quartzite reached a record high of 243 million tons in 2024, marking a 4.7% increase over the previous year and a steady 3.0% annual growth rate since 2013. In value terms, production stood at $45.6 billion, slightly down from 2023’s peak of $52.5 billion, though representing 2.8% compound annual growth since 2013.
Leading the charge, China produced 88 million tons, accounting for roughly 36% of Asia’s output—more than double India’s 38 million tons and well ahead of Japan’s 19 million tons. China’s output has grown at a 3.1% CAGR since 2013, outpacing Japan’s 1.5% but trailing India's faster 5.3% growth.
Import Surge
Asia’s imports surged 18% to 1.6 million tons in 2024, reaching a new high after three consecutive years of growth. The total import value rose to $270 million, with China leading at 603 thousand tons—around 39% of regional imports.
Between 2013 and 2024, China’s import volume grew at a rapid 15.5% CAGR, with India, Bangladesh, and Indonesia also experiencing strong double-digit growth. In terms of value, China spent $145 million on imports—54% of the regional total—followed by Bangladesh at $38 million and Saudi Arabia at $24 million.
Price Dynamics & Import Composition
Across the Asia-Pacific region, average import prices declined to $175 per ton in 2024, down 9.1% from the previous year. Quartzite led the import mix, making up 60% of volume (763 thousand tons) and 68% of value ($155 million), growing by approximately 15% annually since 2013.
Global Context
Global production of these stone materials reached around 471 million tons in 2024, up 3.1% from the prior year. China remained the top producer worldwide, contributing about 19% of global output (88 million tons). It also ranked first in global imports, bringing in 603 thousand tons, valued at $145 million—about 27% of the global total.
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