ASEAN: Market for Gravel And Crushed Stone 2024

Market Size for Gravel And Crushed Stone in ASEAN

In 2021, the ASEAN gravel and crushed stone market increased by 8.4% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, recorded a abrupt slump. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Gravel And Crushed Stone in ASEAN

In value terms, gravel and crushed stone production totaled $X in 2021 estimated in export price. In general, production, however, showed a abrupt slump. The pace of growth was the most pronounced in 2018 when the production volume increased by 34%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Gravel And Crushed Stone

Exports in ASEAN

Gravel and crushed stone exports surged to X tons in 2021, rising by 16% on 2020. Total exports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +9.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 84% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, gravel and crushed stone exports dropped notably to $X in 2021. Total exports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -34.7% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 52%. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Indonesia represented the major exporting country with an export of about X tons, which reached 71% of total exports. Vietnam (X tons) held an 11% share (based on physical terms) of total exports, which put it in second place, followed by Thailand (7.8%) and Lao People's Democratic Republic (7.5%). Malaysia (X tons) followed a long way behind the leaders.

Exports from Indonesia increased at an average annual rate of +6.8% from 2012 to 2021. At the same time, Lao People's Democratic Republic (+55.7%), Thailand (+45.8%) and Vietnam (+29.6%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +55.7% from 2012-2021. By contrast, Malaysia (-1.7%) illustrated a downward trend over the same period. Vietnam (+8.3 p.p.), Thailand (+7.2 p.p.) and Lao People's Democratic Republic (+7.1 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia and Indonesia saw its share reduced by -5.2% and -16.4% from 2012 to 2021, respectively.

In value terms, the largest gravel and crushed stone supplying countries in ASEAN were Vietnam ($X), Malaysia ($X) and Indonesia ($X), with a combined 94% share of total exports. Thailand and Lao People's Democratic Republic lagged somewhat behind, together accounting for a further 5.6%.

Thailand, with a CAGR of +38.0%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, dropping by -37.5% against the previous year. Overall, the export price saw a deep slump. The pace of growth appeared the most rapid in 2019 an increase of 36%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, 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 Indonesia (-3.6%), while the other leaders experienced a decline in the export price figures.

Imports of Gravel And Crushed Stone

Imports in ASEAN

In 2021, the amount of gravel and crushed stone imported in ASEAN surged to X tons, increasing by 21% against the previous year's figure. Total imports indicated a slight expansion from 2012 to 2021: its volume increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -26.4% against 2019 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 56%. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, gravel and crushed stone imports surged to $X in 2021. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when imports increased by 59%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Singapore was the main importer of gravel and crushed stone in ASEAN, with the volume of imports accounting for X tons, which was approx. 75% of total imports in 2021. It was distantly followed by Thailand (X tons), achieving a 17% share of total imports. Indonesia (X tons), Brunei Darussalam (X tons) and Myanmar (X tons) followed a long way behind the leaders.

Singapore experienced a relatively flat trend pattern with regard to volume of imports of gravel and crushed stone. At the same time, Myanmar (+64.3%) and Thailand (+27.8%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +64.3% from 2012-2021. By contrast, Indonesia (-3.0%) and Brunei Darussalam (-4.8%) illustrated a downward trend over the same period. Thailand (+15 p.p.) and Myanmar (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while Brunei Darussalam and Singapore saw its share reduced by -2.1% and -13.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported gravel and crushed stone in ASEAN, comprising 80% of total imports. The second position in the ranking was held by Myanmar ($X), with a 6.2% share of total imports. It was followed by Thailand, with a 5.8% share.

From 2012 to 2021, the average annual growth rate of value in Singapore was relatively modest. In the other countries, the average annual rates were as follows: Myanmar (+33.8% per year) and Thailand (+22.2% per year).

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, rising by 13% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+2.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform