Asia: Asbestos Market 2024

Asbestos Market Size in Asia

In 2022, the Asian asbestos market increased by 10% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption, however, continues to indicate a perceptible reduction. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Asbestos Production in Asia

In value terms, asbestos production expanded slightly to $X in 2022 estimated in export price. Overall, production, however, showed a deep slump. The pace of growth was the most pronounced in 2020 with an increase of 7.5% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Asbestos Exports

Exports in Asia

In 2022, approx. X tons of asbestoses were exported in Asia; picking up by 17% compared with 2021. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 36% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, asbestos exports skyrocketed to $X in 2022. In general, exports, however, saw a pronounced curtailment. 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

Kazakhstan represented the major exporter of asbestoses in Asia, with the volume of exports reaching X tons, which was near 88% of total exports in 2022. It was distantly followed by China (X tons), generating an 11% share of total exports.

Kazakhstan experienced a relatively flat trend pattern with regard to volume of exports of asbestoses. China (-7.4%) illustrated a downward trend over the same period. While the share of Kazakhstan (+12 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of China (-11 p.p.) displayed negative dynamics.

In value terms, Kazakhstan ($X) remains the largest asbestos supplier in Asia, comprising 82% of total exports. The second position in the ranking was held by China ($X), with a 15% share of total exports.

In Kazakhstan, asbestos exports remained relatively stable over the period from 2012-2022.

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, surging by 3% against the previous year. In general, the export price, however, continues to indicate a mild decrease. The growth pace was the most rapid in 2018 when the export price increased by 12% against the previous year. The level of export peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while Kazakhstan amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-0.2%).

Asbestos Imports

Imports in Asia

In 2022, overseas purchases of asbestoses increased by 3.2% to X tons, rising for the second year in a row after two years of decline. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 21%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, asbestos imports soared to $X in 2022. Over the period under review, imports, however, recorded a perceptible reduction. The most prominent rate of growth was recorded in 2021 with an increase of 26%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, India (X tons) was the main importer of asbestoses, achieving 42% of total imports. China (X tons) took an 18% share (based on physical terms) of total imports, which put it in second place, followed by Uzbekistan (11%) and Indonesia (11%). Thailand (X tons), Sri Lanka (X tons) and Vietnam (X tons) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to asbestos imports into India stood at -1.0%. At the same time, Uzbekistan (+4.5%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing importer imported in Asia, with a CAGR of +4.5% from 2012-2022. China experienced a relatively flat trend pattern. By contrast, Indonesia (-4.1%), Thailand (-4.9%), Sri Lanka (-5.2%) and Vietnam (-9.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Uzbekistan increased by +11 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported asbestoses in Asia, comprising 55% of total imports. The second position in the ranking was held by China ($X), with an 11% share of total imports. It was followed by Indonesia, with an 11% share.

In India, asbestos imports contracted by an average annual rate of -2.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (-2.0% per year) and Indonesia (-5.3% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, increasing by 14% against the previous year. Overall, the import price, however, recorded a slight decrease. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+2.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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