The import volume of millstones and grindstones of natural stone to China stood at 402.86 thousand kilograms in 2023. Over the last two years, the volume experienced a decline of approximately -2.57% year-on-year. Examining the long-term trend, from its peak in 2015 with 574.55 thousand kilograms, the volumes have generally decreased, showing a clear downward trend. The Compound Annual Growth Rate (CAGR) over the past five years leading up to 2023 has been negative at -2.36%. Looking forward, forecasts predict a continuous decline with a forecast 5-year CAGR from 2023 to 2028 of -2.35%, corresponding to an overall drop of approximately 11.21% by 2028.
Future trends to watch for:
• Changes in domestic production capabilities and potential substitution with alternative materials could influence import volumes.
• Trade policies and tariffs impacting natural stone imports.
• Advancements in milling and grinding technologies might reduce dependency on traditional natural stone products.
