Australia: Market for Asphalt or Bitumen Articles 2024

Market Size for Asphalt or Bitumen Articles in Australia

In 2022, the Australian asphalt or bitumen article market increased by 28% to $X, rising for the fifth year in a row after two years of decline. Over the period under review, consumption posted a resilient increase. Over the period under review, the market attained the peak level in 2022 and is likely to see steady growth in years to come.

Exports of Asphalt or Bitumen Articles

Exports from Australia

In 2022, exports of asphalt or bitumen articles from Australia surged to X tons, growing by 128% on the year before. Overall, exports enjoyed a significant expansion. The growth pace was the most rapid in 2018 when exports increased by 373%. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the near future.

In value terms, asphalt or bitumen article exports skyrocketed to $X in 2022. Over the period under review, exports posted a significant expansion. The pace of growth appeared the most rapid in 2018 with an increase of 224%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Lao People's Democratic Republic (X tons) was the main destination for asphalt or bitumen article exports from Australia, with a 85% share of total exports. Moreover, asphalt or bitumen article exports to Lao People's Democratic Republic exceeded the volume sent to the second major destination, the Philippines (X tons), more than tenfold. New Zealand (X tons) ranked third in terms of total exports with a 3.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Lao People's Democratic Republic totaled +2,542.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+21.1% per year) and New Zealand (+32.6% per year).

In value terms, Lao People's Democratic Republic ($X) emerged as the key foreign market for asphalt or bitumen articles exports from Australia, comprising 86% of total exports. The second position in the ranking was taken by the Philippines ($X), with a 6.2% share of total exports. It was followed by New Zealand, with a 3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Lao People's Democratic Republic amounted to +3,325.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+12.0% per year) and New Zealand (+20.1% per year).

Export Prices by Country

The average asphalt or bitumen article export price stood at $X per ton in 2022, surging by 32% against the previous year. Over the period under review, the export price, however, showed a deep downturn. The most prominent rate of growth was recorded in 2013 when the average export price increased by 137% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the Philippines ($X per ton) and Lao People's Democratic Republic ($X per ton), while the average price for exports to Indonesia ($X per ton) and Cocos (Keeling) Islands ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lao People's Democratic Republic (+29.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Asphalt or Bitumen Articles

Imports into Australia

In 2022, purchases abroad of asphalt or bitumen articles increased by 14% to X tons, rising for the fifth consecutive year after two years of decline. Over the period under review, imports continue to indicate a prominent expansion. The growth pace was the most rapid in 2020 when imports increased by 46%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, asphalt or bitumen article imports surged to $X in 2022. Overall, imports enjoyed a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, France (X tons) constituted the largest asphalt or bitumen article supplier to Australia, with a 65% share of total imports. Moreover, asphalt or bitumen article imports from France exceeded the figures recorded by the second-largest supplier, Italy (X tons), fourfold. The third position in this ranking was held by the United States (X tons), with a 7.1% share.

From 2012 to 2022, the average annual growth rate of volume from France totaled +65.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+8.7% per year) and the United States (+9.3% per year).

In value terms, France ($X) constituted the largest supplier of asphalt or bitumen articles to Australia, comprising 65% of total imports. The second position in the ranking was taken by Italy ($X), with a 16% share of total imports. It was followed by the United States, with a 6.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from France amounted to +63.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+6.7% per year) and the United States (+7.5% per year).

Import Prices by Country

In 2022, the average asphalt or bitumen article import price amounted to $X per ton, with an increase of 24% against the previous year. Overall, the import price, however, saw a pronounced downturn. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Italy ($X per ton) and the Netherlands ($X per ton), while the price for the United States ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (-0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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