Asia-Pacific: Market for Gravel And Crushed Stone 2024

Market Size for Gravel And Crushed Stone in Asia-Pacific

After two years of decline, the Asia-Pacific gravel and crushed stone market increased by 8.5% to $X in 2021. In general, consumption, however, recorded a perceptible shrinkage. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Gravel And Crushed Stone in Asia-Pacific

In value terms, gravel and crushed stone production stood at $X in 2021 estimated in export price. In general, production, however, continues to indicate a noticeable decline. The growth pace was the most rapid in 2016 with an increase of 35% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Exports of Gravel And Crushed Stone

Exports in Asia-Pacific

After four years of growth, overseas shipments of gravel and crushed stone decreased by -33.8% to X tons in 2021. In general, exports, however, recorded strong growth. The most prominent rate of growth was recorded in 2017 when exports increased by 64%. The volume of export peaked at X tons in 2020, and then shrank dramatically in the following year.

In value terms, gravel and crushed stone exports shrank sharply to $X in 2021. Overall, exports, however, showed a buoyant increase. The pace of growth appeared the most rapid in 2013 with an increase of 48% against the previous year. The level of export peaked at $X in 2020, and then declined significantly in the following year.

Exports by Country

China was the key exporter of gravel and crushed stone in Asia-Pacific, with the volume of exports amounting to X tons, which was near 56% of total exports in 2021. It was distantly followed by Indonesia (X tons) and India (X tons), together committing a 33% share of total exports. Vietnam (X tons), Thailand (X tons), Lao People's Democratic Republic (X tons) and Nepal (X tons) took a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to gravel and crushed stone exports from China stood at +10.8%. At the same time, Lao People's Democratic Republic (+55.7%), Thailand (+45.8%), Vietnam (+29.6%), India (+26.7%) and Indonesia (+6.8%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +55.7% from 2012-2021. Nepal experienced a relatively flat trend pattern. From 2012 to 2021, the share of India, Vietnam, Thailand and Lao People's Democratic Republic increased by +9.9, +2.1, +1.9 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest gravel and crushed stone supplier in Asia-Pacific, comprising 47% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 15% share of total exports. It was followed by India, with an 11% share.

From 2012 to 2021, the average annual growth rate of value in China amounted to +18.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+15.0% per year) and India (+19.3% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, rising by 14% against the previous year. In general, the export price, however, saw a slight setback. The most prominent rate of growth was recorded in 2019 when the export price increased by 20% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, 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 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 Nepal (+14.9%), while the other leaders experienced mixed trends in the export price figures.

Imports of Gravel And Crushed Stone

Imports in Asia-Pacific

Gravel and crushed stone imports reached X tons in 2021, growing by 3.4% compared with 2020 figures. The total import volume increased at an average annual rate of +5.1% 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 28%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, gravel and crushed stone imports contracted markedly to $X in 2021. Total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 39%. Over the period under review, imports attained the maximum at $X in 2020, and then reduced sharply in the following year.

Imports by Country

In 2021, Bangladesh (X tons) and Singapore (X tons) represented the key importers of gravel and crushed stone in Asia-Pacific, together generating 65% of total imports. Taiwan (Chinese) (X tons) held a 14% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (5.9%). Macao SAR (X tons), Hong Kong SAR (X tons) and Maldives (X tons) held a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for Macao SAR (with a CAGR of +56.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest gravel and crushed stone importing markets in Asia-Pacific were Hong Kong SAR ($X), Singapore ($X) and Bangladesh ($X), with a combined 73% share of total imports.

Bangladesh, with a CAGR of +47.0%, 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

The import price in Asia-Pacific stood at $X per ton in 2021, falling by -21.4% against the previous year. Over the last nine years, it increased at an average annual rate of +2.1%. The pace of growth appeared the most rapid in 2020 when the import price increased by 21%. As a result, import price reached the peak level of $X per ton, and then reduced sharply in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+1.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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