In recent years, the expansion of the size of the mainland size stone market is attributed to the acceleration of urbanization, the increase in government investment in infrastructure and the increase in disposable income of urban residents, which has boosted the growth of the real estate and construction market. According to statistics, in 2022, the size of the mainland standard stone market will reach 1,356.8 billion yuan, of which granite is one of the main categories of standard stone, with the granite market accounting for 43.0%, the marble market accounting for 32.5%, and other specifications of stone accounting for 24.6% in 2022.
2022 Continental Stone Market Segment Distribution (Unit: %)
Source: Public information, compiled by Huajing Industry Research Institute
With the country's economic development, the improvement of residents' living standards and the gradual growth of urbanization rate, the granite production industry has witnessed the rapid development of infrastructure construction and real estate industry. Therefore, the market demand for granite products is strong, which promotes the development of granite mining and processing industry. According to statistics, the size of the mainland granite market increased from 486.8 billion yuan in 2018 to 583.4 billion yuan in 2022, with a CAGR of 4.6% from 2018 to 2022.
2018-2022 mainland granite industry market size and growth rate
Source: Public information, compiled by Huajing Industry Research Institute
From the perspective of the trend of granite market size in major regions of the mainland, the granite market size of Shaanxi Province, Sichuan Province and Fujian Province will continue to grow from 2018 to 2022, among which Fujian Province, as the granite market with the highest income in the three markets, will increase the size of Fujian granite market from 33.9 billion yuan in 2018 to 42.4 billion yuan in 2022, with a five-year compound annual growth rate of 5.8%, the highest growth rate among the three markets.
2018-2022 granite market size in major regions of mainland China
Source: Public information, compiled by Huajing Industry Research Institute
This article is excerpted from the "Analysis of the Market Size, Supply and Demand Status and Development Trend of China's Granite Industry in 2023, and the Gradual Growth of Market Concentration "Chart" released by Huajing Industry Research Institute.