By Anil Taneja,
World, January 20, 2025
The key questions are - how much have porcelain and other alternative materials taken share of the traditional applications of natural stone. How much has the stone industry adapted to the new market realities. The premium stones are doing very well all over the world, it is the commercial stones that are facing problems of oversupply.
Brazil, January 20, 2025
The local market for construction remains very strong with many ongoing projects going on all over the country. The local economy is in trouble with high inflation and interest rates but the effect of these will be felt later. Improving demand from US, the main market for Brazilian stones, the huge popularity of its quartzites all over the world, the weakening currency, the real, everything points to a very good year for the stone industry.
Central / East Europe, January 20, 2025
The bright spot in the EU. The Polish market is expected to keep Improving as the months pass by. Other smaller countries continue to be stable markets, except Hungary. Turkey, the reference country in marble, quarries and processing, remains hugely oversupplied.
China, January 20, 2025
If the Chinese market prospects look better, it is not because the construction activity will increase but because the stone companies have adapted to the new reality faster than anywhere else. The industry is much smaller, but it is more design focused, with more emphasis on working with decoration materials and development of new applications.
Far East, January 20, 2025
The East Asian countries economies are noting the effect of the slowdown in China. Vietnam has overinvested in processing capacities. South Korea seems to have slowed down Indonesia is a steadily growing market. Demand in most other countries remains more or less stable.
India, January 20, 2025
Talk to the exporters and it does not seem as if the stone industry is doing well. But those companies focusing only on the local market are seeing growth. Especially the ones in Rajasthan. Low priced porcelain tiles have wiped out a large part of the lower end segment of the stone industry.
Latin America, January 20, 2025
Mexico has become a very dynamic market now, both in developing the local industry and in imports of stone. Other countries (Brazil is covered here separately) have now stabilised.
Middle East and North Africa, January 20, 2025
Saudi Arabia is one market where stone will be focusing on, as well as the Emirates. Many big projects are in the pipeline. The North African countries should continue to be fairly dynamic in the low-priced segment.
U.S.A., January 20, 2025
There is a lot of optimism in the beginning of the year with expectations of lower taxes announced by the new administration. The economy remains strong. Exporters are noticing greater orders at the start of the year. What kind of tariffs will be imposed remains an uncertainty. Most likely the stronger dollar will help to absorb the additional costs due to tariffs, if they are imposed in a moderate way. The next few months should bring clarity.
Western Europe, January 20, 2025
2025 is likely to be a tough year for most stone companies in West and north Europe. Government policies need to change to build more houses of which there is a real shortage in many countries. South Europe looks much better.
