ASEAN: Cement Clinker Market 2024

Cement Clinker Market Size in ASEAN

The ASEAN cement clinker market amounted to $X in 2022, flattening at the previous year. The market value increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2017 with an increase of 8.1%. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the near future.

Cement Clinker Production in ASEAN

In value terms, cement clinker production contracted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the production volume increased by 13% against the previous year. The level of production peaked at $X in 2021, and then dropped slightly in the following year.

Cement Clinker Exports

Exports in ASEAN

After five years of growth, shipments abroad of cement clinker decreased by -17.1% to X tons in 2022. In general, exports, however, enjoyed a buoyant increase. The pace of growth was the most pronounced in 2018 when exports increased by 131% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then declined markedly in the following year.

In value terms, cement clinker exports dropped remarkably to $X in 2022. Overall, exports, however, recorded prominent growth. The pace of growth appeared the most rapid in 2018 when exports increased by 131% against the previous year. The level of export peaked at $X in 2021, and then reduced notably in the following year.

Exports by Country

Vietnam represented the largest exporting country with an export of around X tons, which amounted to 64% of total exports. It was distantly followed by Indonesia (X tons) and Thailand (X tons), together comprising a 34% share of total exports. Malaysia (X tons) took a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to cement clinker exports from Vietnam stood at +8.4%. At the same time, Indonesia (+53.0%) and Malaysia (+1.6%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +53.0% from 2012-2022. Thailand experienced a relatively flat trend pattern. While the share of Indonesia (+17 p.p.) and Vietnam (+2.5 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Thailand (-18.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest cement clinker supplier in ASEAN, comprising 64% of total exports. The second position in the ranking was taken by Indonesia ($X), with an 18% share of total exports. It was followed by Thailand, with a 17% share.

From 2012 to 2022, the average annual growth rate of value in Vietnam stood at +5.0%. In the other countries, the average annual rates were as follows: Indonesia (+52.0% per year) and Thailand (-0.4% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, falling by -5.8% against the previous year. In general, the export price recorded a pronounced slump. The growth pace was the most rapid in 2015 when the export price increased by 53% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Malaysia ($X per ton) and Indonesia ($X per ton), while Vietnam ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (-0.5%), while the other leaders experienced a decline in the export price figures.

Cement Clinker Imports

Imports in ASEAN

In 2022, supplies from abroad of cement clinker decreased by -2.2% to X tons, falling for the fourth consecutive year after two years of growth. Over the period under review, imports recorded a perceptible reduction. The growth pace was the most rapid in 2014 when imports increased by 23%. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, cement clinker imports amounted to $X in 2022. Overall, imports recorded a noticeable contraction. The pace of growth appeared the most rapid in 2014 with an increase of 19%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

The Philippines was the key importing country with an import of about X tons, which recorded 78% of total imports. Malaysia (X tons) took a 12% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (4.8%). Brunei Darussalam (X tons) followed a long way behind the leaders.

The Philippines was also the fastest-growing in terms of the cement clinker imports, with a CAGR of +16.7% from 2012 to 2022. Brunei Darussalam (-6.0%), Vietnam (-6.9%) and Malaysia (-15.1%) illustrated a downward trend over the same period. The Philippines (+66 p.p.) significantly strengthened its position in terms of the total imports, while Vietnam and Malaysia saw its share reduced by -2.4% and -32.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Philippines ($X) constitutes the largest market for imported cement clinker in ASEAN, comprising 80% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 9% share of total imports. It was followed by Vietnam, with a 4.8% share.

In the Philippines, cement clinker imports increased at an average annual rate of +16.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Malaysia (-17.0% per year) and Vietnam (-6.1% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, rising by 13% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Brunei Darussalam ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+0.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform