Over the observed period from 2013 to 2023, Lithuania's Crude or Roughly Trimmed Granite market has experienced a general downtrend, peaking at $1.6906 million in 2013 and declining to $1.1968 million in 2023. The market showed a significant contraction from 2013 onwards, with slight recoveries in certain years, such as a 3.3% increase in 2018 and 11.46% in 2021. However, the last two years saw a downtrend again, with a 2.65% decrease in 2023.
The compound annual growth rate (CAGR) from 2018 to 2023 stands at -3.31%, highlighting a consistent negative growth over the last five years, despite periodic fluctuations.
Future trends to watch for include:
- The impact of global economic recovery post-pandemic, which might lead to renewed infrastructure projects and demand for granite.
- Shifts in environmental regulations and sustainability concerns potentially affecting granite mining and production.
- Technological advancements in construction that might alter demand for traditional materials like granite.
