Asia: Market for Gravel And Crushed Stone 2024

Market Size for Gravel And Crushed Stone in Asia

In 2021, the Asian gravel and crushed stone market was finally on the rise to reach $X for the first time since 2016, thus ending a four-year declining trend. Overall, consumption, however, showed a pronounced setback. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Production of Gravel And Crushed Stone in Asia

In value terms, gravel and crushed stone production expanded sharply to $X in 2021 estimated in export price. In general, production, however, showed a pronounced setback. The pace of growth was the most pronounced in 2016 with an increase of 37% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Exports of Gravel And Crushed Stone

Exports in Asia

After four years of growth, shipments abroad of gravel and crushed stone decreased by -21.8% to X tons in 2021. Over the period under review, exports, however, posted a prominent expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 149%. The volume of export peaked at X tons in 2020, and then reduced notably in the following year.

In value terms, gravel and crushed stone exports fell to $X in 2021. Total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +10.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -16.0% against 2019 indices. The pace of growth appeared the most rapid in 2013 when exports increased by 129% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, China (X tons), the United Arab Emirates (X tons) and Oman (X tons) represented the key exporter of gravel and crushed stone in Asia, achieving 73% of total export. Indonesia (X tons) took the next position in the ranking, followed by India (X tons). All these countries together took approx. 18% share of total exports. Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Vietnam (with a CAGR of +29.6%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United Arab Emirates ($X) and Oman ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 63% of total exports.

Oman, with a CAGR of +25.6%, saw the highest growth rate of the value of exports, among 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 2021, with an increase of 10% against the previous year. Overall, the export price, however, saw a pronounced decline. The pace of growth was the most pronounced in 2019 when the export price increased by 18%. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 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 Vietnam ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+6.4%), while the other leaders experienced more modest paces of growth.

Imports of Gravel And Crushed Stone

Imports in Asia

In 2021, supplies from abroad of gravel and crushed stone increased by 4.8% to X tons for the first time since 2018, thus ending a two-year declining trend. Total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +8.2% 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 -16.2% against 2018 indices. The growth pace was the most rapid in 2015 when imports increased by 65%. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, gravel and crushed stone imports shrank to $X in 2021. The total import value increased at an average annual rate of +4.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when imports increased by 31% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the four major importers of gravel and crushed stone, namely Kuwait, Qatar, Bangladesh and Singapore, represented more than two-thirds of total import. Taiwan (Chinese) (X tons) took the next position in the ranking, followed by the United Arab Emirates (X tons). All these countries together held approx. 13% share of total imports. Thailand (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Bangladesh (with a CAGR of +50.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Kuwait ($X), Qatar ($X) and Singapore ($X) were the countries with the highest levels of imports in 2021, together comprising 43% of total imports. Bangladesh, Taiwan (Chinese), the United Arab Emirates and Thailand lagged somewhat behind, together accounting for a further 20%.

Bangladesh, with a CAGR of +47.0%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, waning by -13.9% against the previous year. In general, the import price showed a perceptible setback. The most prominent rate of growth was recorded in 2014 when the import price increased by 30%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the 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 Singapore ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+3.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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