Asia-Pacific: Cement Market 2024

Cement Market Size in Asia-Pacific

The Asia-Pacific cement market rose to $X in 2022, with an increase of 1.6% against the previous year. The market value increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Cement Production in Asia-Pacific

In value terms, cement production rose slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the production volume increased by 17%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Cement Exports

Exports in Asia-Pacific

Cement exports contracted notably to X tons in 2022, reducing by -17.1% against the year before. In general, exports continue to indicate a noticeable setback. The growth pace was the most rapid in 2013 with an increase of 13%. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, cement exports shrank to $X in 2022. Over the period under review, exports showed a slight decrease. The pace of growth was the most pronounced in 2021 with an increase of 16% against the previous year. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam was the major exporting country with an export of about X tons, which finished at 40% of total exports. It was distantly followed by Japan (X tons), Thailand (X tons), Pakistan (X tons), Taiwan (Chinese) (X tons), China (X tons) and Malaysia (X tons), together generating a 46% share of total exports.

Vietnam was also the fastest-growing in terms of the cement exports, with a CAGR of +31.7% from 2012 to 2022. Japan and Malaysia experienced a relatively flat trend pattern. Taiwan (Chinese) (-6.5%), Thailand (-7.8%), Pakistan (-13.0%) and China (-14.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Vietnam and Japan increased by +38 and +2.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest cement supplier in Asia-Pacific, comprising 40% of total exports. The second position in the ranking was taken by Japan ($X), with a 10% share of total exports. It was followed by China, with a 9.4% share.

In Vietnam, cement exports increased at an average annual rate of +26.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (+0.3% per year) and China (-10.0% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, increasing by 7.5% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Japan ($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 (+5.6%), while the other leaders experienced more modest paces of growth.

Cement Imports

Imports in Asia-Pacific

Cement imports reduced to X tons in 2022, falling by -13.2% compared with 2021 figures. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 11% against the previous year. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, cement imports reduced to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 13%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the Philippines (X tons), distantly followed by Singapore (X tons), Hong Kong SAR (X tons), Afghanistan (X tons), China (X tons) and Sri Lanka (X tons) were the major importers of cement, together committing 76% of total imports. Australia (X tons), Cambodia (X tons), India (X tons), Malaysia (X tons), Thailand (X tons), Taiwan (Chinese) (X tons) and Myanmar (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +82.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X), Singapore ($X) and Hong Kong SAR ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 49% share of total imports.

The Philippines, with a CAGR of +64.3%, recorded the highest growth rate of 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 2022, the import price in Asia-Pacific amounted to $X per ton, with an increase of 12% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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 Thailand ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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