ASEAN: Market for Asphalt or Bitumen Articles 2025

Market Size for Asphalt or Bitumen Articles in ASEAN

The ASEAN asphalt or bitumen article market amounted to $X in 2022, surging by 11% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Asphalt or Bitumen Articles in ASEAN

In value terms, asphalt or bitumen article production dropped to $X in 2022 estimated in export price. In general, production saw a noticeable curtailment. The pace of growth appeared the most rapid in 2015 with an increase of 30%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Exports of Asphalt or Bitumen Articles

Exports in ASEAN

In 2022, the amount of asphalt or bitumen articles exported in ASEAN contracted to X tons, which is down by -10.2% compared with the year before. Over the period under review, exports recorded a abrupt downturn. The pace of growth appeared the most rapid in 2016 when exports increased by 36% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, asphalt or bitumen article exports fell to $X in 2022. In general, exports saw a abrupt curtailment. The pace of growth was the most pronounced in 2021 when exports increased by 28% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Malaysia (X tons) was the main exporter of asphalt or bitumen articles, committing 67% of total exports. It was distantly followed by Singapore (X tons) and Indonesia (X tons), together generating a 27% share of total exports. The Philippines (X tons) and Thailand (X tons) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to asphalt or bitumen article exports from Malaysia stood at -6.7%. At the same time, Indonesia (+12.7%) and the Philippines (+11.4%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +12.7% from 2012-2022. By contrast, Thailand (-2.8%) and Singapore (-7.5%) illustrated a downward trend over the same period. While the share of Indonesia (+9.7 p.p.) and the Philippines (+2.5 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Singapore (-3.8 p.p.) and Malaysia (-9.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X), Singapore ($X) and Indonesia ($X) were the countries with the highest levels of exports in 2022, with a combined 93% share of total exports. Thailand and the Philippines lagged somewhat behind, together comprising a further 6.1%.

The Philippines, with a CAGR of +13.4%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, picking up by 4.1% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the export price increased by 24% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+1.8%), while the other leaders experienced mixed trends in the export price figures.

Imports of Asphalt or Bitumen Articles

Imports in ASEAN

Asphalt or bitumen article imports skyrocketed to X tons in 2022, growing by 48% on the previous year's figure. Total imports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +8.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +46.7% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, asphalt or bitumen article imports skyrocketed to $X in 2022. Total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +103.1% against 2017 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Indonesia (X tons) represented the key importer of asphalt or bitumen articles, committing 45% of total imports. The Philippines (X tons) took the second position in the ranking, followed by Vietnam (X tons), Thailand (X tons) and Malaysia (X tons). All these countries together took near 49% share of total imports. Singapore (X tons) and Cambodia (X tons) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to asphalt or bitumen article imports into Indonesia stood at +11.1%. At the same time, Cambodia (+20.9%), Vietnam (+11.5%), Thailand (+6.1%), Malaysia (+4.4%) and the Philippines (+4.4%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +20.9% from 2012-2022. By contrast, Singapore (-1.1%) illustrated a downward trend over the same period. While the share of Indonesia (+11 p.p.) and Vietnam (+3.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Thailand (-2.5 p.p.), Malaysia (-2.5 p.p.), Singapore (-5.2 p.p.) and the Philippines (-6.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) constitutes the largest market for imported asphalt or bitumen articles in ASEAN, comprising 48% of total imports. The second position in the ranking was taken by the Philippines ($X), with a 15% share of total imports. It was followed by Vietnam, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Indonesia amounted to +11.6%. The remaining importing countries recorded the following average annual rates of imports growth: the Philippines (+8.7% per year) and Vietnam (+9.7% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, surging by 6.1% against the previous year. Over the period under review, the import price, however, recorded a slight descent. The most prominent rate of growth was recorded in 2018 when the import price increased by 9.8% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Singapore ($X per ton) and Indonesia ($X per ton), while Malaysia ($X per ton) and Cambodia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+4.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform