Asia: Explosives Market 2024

Explosives Market Size in Asia

In 2021, after four years of growth, there was decline in the Asian explosives market, when its value decreased by -4.4% to $X. The market value increased at an average annual rate of +2.2% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020, and then reduced modestly in the following year.

Explosives Production in Asia

In value terms, explosives production contracted to $X in 2021 estimated in export price. The total production indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +2.9% 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 +61.5% against 2016 indices. The growth pace was the most rapid in 2018 with an increase of 27% against the previous year. The level of production peaked at $X in 2020, and then contracted in the following year.

Explosives Exports

Exports in Asia

Explosives exports surged to X tons in 2021, increasing by 20% compared with 2020. Over the period under review, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 36% 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 skyrocketed to $X in 2021. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 39%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, India (X tons), distantly followed by Israel (X tons), Turkey (X tons), Saudi Arabia (X tons), Vietnam (X tons), China (X tons) and the Philippines (X tons) were the key exporters of prepared explosives, together constituting 90% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Israel (with a CAGR of +46.9%), while the other leaders experienced more modest paces of growth.

In value terms, India ($X), the Philippines ($X) and China ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 71% share of total exports. Turkey, Saudi Arabia, Vietnam and Israel lagged somewhat behind, together comprising a further 17%.

Vietnam, with a CAGR of +17.9%, recorded the highest rates of growth with regard to 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

In 2021, the export price in Asia amounted to $X per ton, surging by 2.1% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the export price increased by 14%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while Israel ($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

After two years of decline, purchases abroad of prepared explosives increased by 22% to X tons in 2021. Overall, imports, however, recorded a noticeable curtailment. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, explosives imports declined to $X in 2021. Over the period under review, imports, however, continue to indicate a perceptible curtailment. The pace of growth appeared the most rapid in 2017 when imports increased by 21%. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Kazakhstan (X tons), distantly followed by Lao People's Democratic Republic (X tons), Nepal (X tons), the Philippines (X tons), Indonesia (X tons) and South Korea (X tons) represented the key importers of prepared explosives, together committing 65% of total imports. Georgia (X tons), Thailand (X tons), Azerbaijan (X tons), Kyrgyzstan (X tons), China (X tons), Bhutan (X tons) and Syrian Arab Republic (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 Syrian Arab Republic (with a CAGR of +51.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest explosives importing markets in Asia were Indonesia ($X), the Philippines ($X) and Kazakhstan ($X), together comprising 31% of total imports. These countries were followed by China, Lao People's Democratic Republic, South Korea, Thailand, Nepal, Syrian Arab Republic, Georgia, Azerbaijan, Kyrgyzstan and Bhutan, which together accounted for a further 27%.

Lao People's Democratic Republic, with a CAGR of +31.3%, saw the highest growth rate of the value of imports, in terms of 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 stood at $X per ton in 2021, reducing by -22.1% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the import price increased by 20%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per ton), while Bhutan ($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 (+7.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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