ASEAN: Bituminous Mixtures Market 2024

Bituminous Mixtures Market Size in ASEAN

In 2021, after three years of growth, there was decline in the ASEAN bituminous mixtures market, when its value decreased by -2.2% to $X. In general, consumption recorded a slight contraction. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Bituminous Mixtures Production in ASEAN

In value terms, bituminous mixtures production contracted to $X in 2021 estimated in export price. Over the period under review, production recorded a perceptible slump. The most prominent rate of growth was recorded in 2014 with an increase of 19%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Bituminous Mixtures Exports

Exports in ASEAN

After two years of growth, shipments abroad of bituminous mixtures decreased by -19.3% to X tons in 2021. In general, exports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of 304%. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, bituminous mixtures exports reached $X in 2021. Overall, exports, however, showed moderate growth. The pace of growth was the most pronounced in 2014 with an increase of 291% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Singapore was the largest exporting country with an export of about X tons, which accounted for 69% of total exports. It was distantly followed by Indonesia (X tons), creating a 26% share of total exports. Malaysia (X tons) held a relatively small share of total exports.

Exports from Singapore increased at an average annual rate of +37.5% from 2012 to 2021. At the same time, Indonesia (+114.2%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +114.2% from 2012-2021. By contrast, Malaysia (-24.0%) illustrated a downward trend over the same period. While the share of Singapore (+62 p.p.) and Indonesia (+26 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Malaysia (-86.4 p.p.) displayed negative dynamics.

In value terms, Singapore ($X) remains the largest bituminous mixtures supplier in ASEAN, comprising 74% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 19% share of total exports.

In Singapore, bituminous mixtures exports increased at an average annual rate of +30.9% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (+82.3% per year) and Malaysia (-25.1% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, with an increase of 30% against the previous year. In general, the export price, however, continues to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2018 an increase of 46%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Malaysia ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (-1.4%), while the other leaders experienced a decline in the export price figures.

Bituminous Mixtures Imports

Imports in ASEAN

In 2021, approx. X tons of bituminous mixtures were imported in ASEAN; dropping by -10.1% against the previous year's figure. Over the period under review, imports, however, posted prominent growth. The most prominent rate of growth was recorded in 2018 with an increase of 293% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, bituminous mixtures imports rose markedly to $X in 2021. Overall, imports, however, showed a tangible expansion. The pace of growth was the most pronounced in 2018 when imports increased by 149%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Malaysia prevails in imports structure, recording X tons, which was near 73% of total imports in 2021. Lao People's Democratic Republic (X tons) ranks second in terms of the total imports with a 7% share, followed by Vietnam (6.7%). Singapore (X tons), Thailand (X tons), Indonesia (X tons) and Cambodia (X tons) followed a long way behind the leaders.

Malaysia was also the fastest-growing in terms of the bituminous mixtures imports, with a CAGR of +40.5% from 2012 to 2021. At the same time, Lao People's Democratic Republic (+32.2%) and Indonesia (+1.7%) displayed positive paces of growth. By contrast, Thailand (-1.1%), Vietnam (-5.9%), Cambodia (-11.3%) and Singapore (-12.7%) illustrated a downward trend over the same period. Malaysia (+64 p.p.) and Lao People's Democratic Republic (+5.6 p.p.) significantly strengthened its position in terms of the total imports, while Indonesia, Thailand, Cambodia, Singapore and Vietnam saw its share reduced by -3.2%, -5.1%, -15.7%, -22.2% and -22.9% from 2012 to 2021, respectively.

In value terms, Malaysia ($X) constitutes the largest market for imported bituminous mixtures in ASEAN, comprising 49% of total imports. The second position in the ranking was held by Vietnam ($X), with a 13% share of total imports. It was followed by Thailand, with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Malaysia stood at +24.4%. The remaining importing countries recorded the following average annual rates of imports growth: Vietnam (-7.6% per year) and Thailand (-3.8% per year).

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, rising by 19% against the previous year. Over the period under review, the import price, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2019 an increase of 25% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Thailand ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cambodia (+4.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform