Asia: Bituminous Mixtures Market 2024

Bituminous Mixtures Market Size in Asia

The Asian bituminous mixtures market expanded modestly to $X in 2021, growing by 3.8% against the previous year. The total consumption indicated measured growth from 2012 to 2021: its value 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. Based on 2021 figures, consumption increased by +57.4% against 2013 indices. The level of consumption peaked in 2021 and is likely to see gradual growth in the near future.

Bituminous Mixtures Production in Asia

In value terms, bituminous mixtures production rose to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of 25%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Bituminous Mixtures Exports

Exports in Asia

In 2021, after two years of growth, there was significant decline in shipments abroad of bituminous mixtures, when their volume decreased by -10% to X tons. Over the period under review, exports, however, saw a strong increase. The growth pace was the most rapid in 2014 when exports increased by 328% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, bituminous mixtures exports surged to $X in 2021. In general, exports, however, continue to indicate a tangible increase. The most prominent rate of growth was recorded in 2014 with an increase of 247%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Singapore (X tons) represented the key exporter of bituminous mixtures, comprising 57% of total exports. Indonesia (X tons) took the second position in the ranking, distantly followed by Iraq (X tons). All these countries together held approx. 27% share of total exports. Malaysia (X tons), the United Arab Emirates (X tons), Japan (X tons) and Iran (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to bituminous mixtures exports from Singapore stood at +37.5%. At the same time, Indonesia (+114.2%), Japan (+78.7%), Iraq (+70.2%), the United Arab Emirates (+21.5%) and Iran (+6.9%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in Asia, with a CAGR of +114.2% from 2012-2021. By contrast, Malaysia (-24.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Singapore, Indonesia, Iraq, Japan and the United Arab Emirates increased by +50, +21, +5.5, +3.4 and +2.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest bituminous mixtures supplier in Asia, comprising 58% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 15% share of total exports. It was followed by Japan, with a 5.6% share.

In Singapore, bituminous mixtures exports increased at an average annual rate of +30.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Indonesia (+82.3% per year) and Japan (+45.9% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, jumping by 28% against the previous year. Overall, the export price, however, saw a noticeable decrease. The most prominent rate of growth was recorded in 2018 when the export price increased by 43% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Japan ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iraq (-1.2%), while the other leaders experienced a decline in the export price figures.

Bituminous Mixtures Imports

Imports in Asia

Bituminous mixtures imports surged to X tons in 2021, picking up by 17% against the year before. Over the period under review, imports showed a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 801%. The volume of import peaked in 2021 and is likely to see steady growth in the immediate term.

In value terms, bituminous mixtures imports soared to $X in 2021. Overall, imports enjoyed strong growth. The most prominent rate of growth was recorded in 2020 with an increase of 442%. The level of import peaked in 2021 and is likely to continue growth in the near future.

Imports by Country

In 2021, China (X tons) was the major importer of bituminous mixtures in Asia, mixing up 97% of total import.

China was also the fastest-growing in terms of the bituminous mixtures imports, with a CAGR of +27.3% from 2012 to 2021. China (+4.7 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported bituminous mixtures in Asia.

In China, bituminous mixtures imports expanded at an average annual rate of +20.2% over the period from 2012-2021.

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, rising by 50% against the previous year. Overall, the import price, however, continues to indicate a abrupt setback. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to -5.6% per year.

Source: IndexBox Platform

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