ASEAN: Explosives Market 2024

Explosives Market Size in ASEAN

After four years of growth, the ASEAN explosives market decreased by -9.6% to $X in 2021. The total consumption indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +48.3% against 2016 indices. As a result, consumption reached the peak level of $X, and then dropped in the following year.

Explosives Production in ASEAN

In value terms, explosives production shrank significantly to $X in 2021 estimated in export price. The total production indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +51.6% against 2017 indices. The pace of growth appeared the most rapid in 2020 with an increase of 46% against the previous year. As a result, production attained the peak level of $X, and then fell sharply in the following year.

Explosives Exports

Exports in ASEAN

In 2021, the amount of prepared explosives exported in ASEAN soared to X tons, increasing by 18% compared with 2020. Overall, exports, however, continue to indicate a abrupt decrease. The pace of growth was the most pronounced in 2013 with an increase of 40%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, explosives exports skyrocketed to $X in 2021. In general, exports, however, continue to indicate a noticeable downturn. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Vietnam (X tons) and the Philippines (X tons) prevails in exports structure, together mixing up 89% of total exports. It was distantly followed by Malaysia (X tons), comprising a 6.2% share of total exports. Indonesia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +36.9%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the Philippines ($X) remains the largest explosives supplier in ASEAN, comprising 77% of total exports. The second position in the ranking was held by Vietnam ($X), with a 12% share of total exports. It was followed by Malaysia, with a 2.3% share.

In the Philippines, explosives exports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Vietnam (+17.9% per year) and Malaysia (-15.0% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, jumping by 104% against the previous year. Export price indicated a pronounced increase from 2012 to 2021: its price increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 the Philippines ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+16.4%), while the other leaders experienced mixed trends in the export price figures.

Explosives Imports

Imports in ASEAN

Explosives imports surged to X tons in 2021, increasing by 67% compared with the previous year's figure. Total imports indicated a noticeable expansion from 2012 to 2021: its volume increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, explosives imports surged to $X in 2021. Overall, imports, however, continue to indicate a abrupt decline. The pace of growth was the most pronounced in 2017 when imports increased by 21% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Lao People's Democratic Republic (X tons) represented the largest importer of prepared explosives, creating 40% of total imports. The Philippines (X tons) ranks second in terms of the total imports with a 23% share, followed by Indonesia (20%) and Thailand (13%). Malaysia (X tons) took a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Lao People's Democratic Republic (with a CAGR of +44.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest explosives importing markets in ASEAN were Indonesia ($X), the Philippines ($X) and Lao People's Democratic Republic ($X), together accounting for 77% of total imports.

Among the main importing countries, Lao People's Democratic Republic, with a CAGR of +31.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, which is down by -30.6% against the previous year. Over the period under review, the import price saw a drastic downturn. The pace of growth was the most pronounced in 2014 when the import price increased by 33% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the import prices failed to regain momentum.

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 Indonesia ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+7.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform