Asia: Market for Asphalt or Bitumen Articles 2024

Market Size for Asphalt or Bitumen Articles in Asia

The Asian asphalt or bitumen article market rose slightly to $X in 2022, surging by 2.8% against the previous year. The total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.8% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Asphalt or Bitumen Articles in Asia

In value terms, asphalt or bitumen article production rose to $X in 2022 estimated in export price. The total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.0% against 2020 indices. The growth pace was the most rapid in 2018 when the production volume increased by 26%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Asphalt or Bitumen Articles

Exports in Asia

In 2022, overseas shipments of asphalt or bitumen articles were finally on the rise to reach X tons after two years of decline. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 44% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, asphalt or bitumen article exports skyrocketed to $X in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The biggest shipments were from Saudi Arabia (X tons), Turkey (X tons), China (X tons) and South Korea (X tons), together accounting for 82% of total export. It was distantly followed by the United Arab Emirates (X tons), constituting an 8.2% share of total exports. Malaysia (X tons) held a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Turkey (with a CAGR of +6.1%), while the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), China ($X) and Turkey ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 61% share of total exports.

China, with a CAGR of +6.5%, saw the highest growth rate of 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 Asia stood at $X per ton in 2022, which is down by -3.1% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 19% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.4%), while the other leaders experienced more modest paces of growth.

Imports of Asphalt or Bitumen Articles

Imports in Asia

In 2022, overseas purchases of asphalt or bitumen articles increased by 10% to X tons for the first time since 2017, thus ending a four-year declining trend. Over the period under review, imports recorded a relatively flat trend pattern. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, asphalt or bitumen article imports surged to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of asphalt or bitumen article imports in 2022 were the United Arab Emirates (X tons), Kazakhstan (X tons), Indonesia (X tons), Japan (X tons), Israel (X tons), Oman (X tons), India (X tons), Mongolia (X tons), Turkey (X tons), Kuwait (X tons), Yemen (X tons) and the Philippines (X tons), together recording 73% of total import. Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Vietnam (with a CAGR of +11.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), the United Arab Emirates ($X) and Israel ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 30% of total imports.

Among the main importing countries, Indonesia, with a CAGR of +11.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, picking up by 9.8% against the previous year. In general, the import price, however, recorded a mild setback. Over the period under review, import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a 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 Israel ($X per ton), while Mongolia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+4.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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