Eastern Asia: Bituminous Mixtures Market 2024

Bituminous Mixtures Market Size in Eastern Asia

The East Asian bituminous mixtures market stood at $X in 2021, growing by 6.6% against the previous year. The total consumption indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -0.0% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Bituminous Mixtures Production in Eastern Asia

In value terms, bituminous mixtures production totaled $X in 2021 estimated in export price. The total production indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +3.9% 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 decreased by -5.6% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 32%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Bituminous Mixtures Exports

Exports in Eastern Asia

Bituminous mixtures exports skyrocketed to X tons in 2021, growing by 152% against the year before. In general, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2014 when exports increased by 2,887% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, bituminous mixtures exports soared to $X in 2021. Over the period under review, exports showed a significant expansion. The growth pace was the most rapid in 2014 with an increase of 641% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Japan (X tons) was the largest exporter of bituminous mixtures, creating 67% of total exports. It was distantly followed by China (X tons) and South Korea (X tons), together constituting a 31% share of total exports.

Japan was also the fastest-growing in terms of the bituminous mixtures exports, with a CAGR of +78.7% from 2012 to 2021. At the same time, China (+12.7%) and South Korea (+11.3%) displayed positive paces of growth. From 2012 to 2021, the share of Japan increased by +64 percentage points.

In value terms, Japan ($X) remains the largest bituminous mixtures supplier in Eastern Asia, comprising 58% of total exports. The second position in the ranking was held by China ($X), with a 22% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Japan stood at +45.9%. In the other countries, the average annual rates were as follows: China (+12.4% per year) and South Korea (+11.8% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, falling by -16.8% against the previous year. Over the period under review, the export price saw a perceptible reduction. The pace of growth appeared the most rapid in 2015 when the export price increased by 252% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was China ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+0.4%), while the other leaders experienced a decline in the export price figures.

Bituminous Mixtures Imports

Imports in Eastern Asia

In 2021, approx. X tons of bituminous mixtures were imported in Eastern Asia; jumping by 17% compared with the previous year's figure. In general, imports continue to indicate a significant increase. The growth pace was the most rapid in 2020 with an increase of 899%. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in the immediate term.

In value terms, bituminous mixtures imports surged to $X in 2021. Overall, imports posted a significant expansion. The growth pace was the most rapid in 2020 when imports increased by 501% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in years to come.

Imports by Country

In 2021, China (X tons) was the main importer of bituminous mixtures in Eastern Asia, making up 100% of total import.

China was also the fastest-growing in terms of the bituminous mixtures imports, with a CAGR of +27.3% from 2012 to 2021. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported bituminous mixtures in Eastern Asia.

In China, bituminous mixtures imports increased at an average annual rate of +20.2% over the period from 2012-2021.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, rising by 54% against the previous year. In general, the import price, however, recorded a deep downturn. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to -5.6% per year.

Source: IndexBox Platform

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