By Anil Taneja,
World, October 17, 2024
The business environment is unlike previous years- patchy, uncertainty, confusing, worrying. Almost the entire industry is working at well below installed capacity now.
Brazil, October 17, 2024
The export figures are holding up, the local market is very dynamic. The big headache is in logistics, difficulties in obtaining containers, delays, high freight rates.
China, October 17, 2024
Big government stimulus have been announced, it may take some time for the stone industry to feel the effects.
Far East, October 17, 2024
The slowdown in China is having its effects on the region. Indonesia, however, remains a growing though price sensitive market.
India, October 17, 2024
The construction industry is doing well but, surprisingly, local granite industry, especially in the south, is struggling. Low priced porcelain tiles are taking away market share from natural stone. Imported stone is increasing in volume. Local companies working with local materials for the local market are doing well.
Latin America, October 17, 2024
Demand remains stable in most countries. Mexican market is now a dynamic market.
Middle East and North Africa, October 17, 2024
Construction activity is dynamic in several energy rich countries of the Gulf region. But the postponement of several major projects in Saudi Arabia has been a big shock to the industry. Libya and Iraq have become good markets now.
New Central/East EU Countries, October 17, 2024
The Poles are becoming impatient, they just don't see new projects even though the EU money has started flowing again. Other countries in the region remain stable.
U.S.A., October 17, 2024
With interest rates still high though finally coming down, unaffordability remains the key element behind a lacklustre market situation. High shipping rates are another drag. The recent adverse judgement on the silicosis issue with big fines for some quartz companies and negative news appearing frequently, the uncertainty regarding use of quartz is only growing.
Western Europe, October 17, 2024
Business activity remains erratic, slowdown in most countries.
