Asia-Pacific: Explosives Market 2024

Explosives Market Size in Asia-Pacific

In 2021, the Asia-Pacific explosives market decreased by -4.2% to $X for the first time since 2016, thus ending a four-year rising trend. The market value increased at an average annual rate of +2.4% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2020, and then contracted slightly in the following year.

Explosives Production in Asia-Pacific

In value terms, explosives production shrank to $X in 2021 estimated in export price. The total production indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +65.0% against 2016 indices. The pace of growth appeared the most rapid in 2018 with an increase of 29%. Over the period under review, production attained the maximum level at $X in 2020, and then reduced in the following year.

Explosives Exports

Exports in Asia-Pacific

In 2021, shipments abroad of prepared explosives decreased by -7.4% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports recorded a noticeable downturn. The growth pace was the most rapid in 2013 when exports increased by 28% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, explosives exports soared to $X in 2021. In general, exports saw a slight decrease. The growth pace was the most rapid in 2018 when exports increased by 36% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, India (X tons) represented the largest exporter of prepared explosives, creating 54% of total exports. Vietnam (X tons) held a 14% share (based on physical terms) of total exports, which put it in second place, followed by China (13%), the Philippines (9.9%) and South Korea (5.3%). Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to explosives exports from India stood at +4.7%. At the same time, Vietnam (+36.9%) and South Korea (+24.3%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +36.9% from 2012-2021. By contrast, Malaysia (-13.4%), the Philippines (-14.8%) and China (-15.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of India, Vietnam and South Korea increased by +30, +13 and +4.8 percentage points, respectively.

In value terms, the largest explosives supplying countries in Asia-Pacific were India ($X), the Philippines ($X) and China ($X), with a combined 82% share of total exports. These countries were followed by South Korea, Vietnam and Malaysia, which together accounted for a further 10%.

Among the main exporting countries, South Korea, with a CAGR of +24.6%, saw the highest growth rate of the value of exports, 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-Pacific stood at $X per ton in 2021, with an increase of 27% against the previous year. Over the last nine years, it increased at an average annual rate of +3.5%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 the Philippines ($X per ton), while Vietnam ($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 Philippines (+16.4%), while the other leaders experienced more modest paces of growth.

Explosives Imports

Imports in Asia-Pacific

In 2021, the amount of prepared explosives imported in Asia-Pacific soared to X tons, jumping by 41% on 2020. In general, imports recorded a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, explosives imports expanded sharply to $X in 2021. Overall, imports, however, saw a slight reduction. The pace of growth was the most pronounced in 2017 with an increase of 10%. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

The purchases of the seven major importers of prepared explosives, namely Lao People's Democratic Republic, Australia, Nepal, the Philippines, Indonesia, South Korea and Thailand, represented more than two-thirds of total import.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Lao People's Democratic Republic (with a CAGR of +44.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X) constitutes the largest market for imported prepared explosives in Asia-Pacific, comprising 36% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 17% share of total imports. It was followed by the Philippines, with an 8.5% share.

In Australia, explosives imports expanded at an average annual rate of +2.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Indonesia (-4.8% per year) and the Philippines (+21.5% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, with a decrease of -23.1% against the previous year. In general, the import price showed a noticeable decline. The pace of growth appeared the most rapid in 2020 an increase of 25%. Over the period under review, import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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 Australia ($X per ton), while Nepal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+7.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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