Eastern Asia: Market for Gravel And Crushed Stone 2024

Market Size for Gravel And Crushed Stone in Eastern Asia

In 2021, the East Asian gravel and crushed stone market was finally on the rise to reach $X for the first time since 2016, thus ending a four-year declining trend. Overall, consumption, however, showed a noticeable downturn. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Production of Gravel And Crushed Stone in Eastern Asia

In value terms, gravel and crushed stone production reached $X in 2021 estimated in export price. Overall, production, however, showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 64%. As a result, production reached 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 Eastern Asia

In 2021, shipments abroad of gravel and crushed stone decreased by -48.9% to X tons for the first time since 2016, thus ending a four-year rising trend. In general, exports, however, enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2017 with an increase of 149% against the previous year. The volume of export peaked at X tons in 2020, and then contracted rapidly in the following year.

In value terms, gravel and crushed stone exports contracted rapidly to $X in 2021. Over the period under review, exports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 77%. Over the period under review, the exports attained the peak figure at $X in 2020, and then shrank rapidly in the following year.

Exports by Country

The biggest shipments were from China (X tons), together finishing at 99% of total export.

China was also the fastest-growing in terms of the gravel and crushed stone exports, with a CAGR of +10.8% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest gravel and crushed stone supplier in Eastern Asia.

From 2012 to 2021, the average annual growth rate of value in China amounted to +18.1%.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, jumping by 41% against the previous year. Overall, the export price posted a resilient increase. The pace of growth was the most pronounced in 2014 an increase of 59%. The level of export peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, 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 +6.2% per year.

Imports of Gravel And Crushed Stone

Imports in Eastern Asia

In 2021, imports of gravel and crushed stone in Eastern Asia fell markedly to X tons, with a decrease of -23.2% compared with the previous year. Over the period under review, imports saw a mild contraction. The most prominent rate of growth was recorded in 2020 with an increase of 30% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, gravel and crushed stone imports contracted remarkably to $X in 2021. Overall, imports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 55% against the previous year. As a result, imports attained the peak of $X, and then shrank significantly in the following year.

Imports by Country

Taiwan (Chinese) was the largest importing country with an import of about X tons, which accounted for 60% of total imports. It was distantly followed by Macao SAR (X tons), Hong Kong SAR (X tons) and China (X tons), together creating a 38% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to gravel and crushed stone imports into Taiwan (Chinese) stood at -6.6%. At the same time, Macao SAR (+56.8%), China (+26.9%) and Hong Kong SAR (+21.5%) displayed positive paces of growth. Moreover, Macao SAR emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +56.8% from 2012-2021. From 2012 to 2021, the share of Macao SAR, Hong Kong SAR and China increased by +18, +13 and +4.4 percentage points, respectively.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported gravel and crushed stone in Eastern Asia, comprising 64% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 17% share of total imports. It was followed by Macao SAR, with a 9.3% share.

In Hong Kong SAR, gravel and crushed stone imports expanded at an average annual rate of +19.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-4.7% per year) and Macao SAR (+28.2% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, declining by -19.2% against the previous year. In general, the import price, however, showed resilient growth. The most prominent rate of growth was recorded in 2019 an increase of 64%. Over the period under review, import prices attained the maximum at $X per ton in 2020, and then shrank sharply in the following year.

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 Hong Kong SAR ($X per ton), while Taiwan (Chinese) ($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 a decline in the import price figures.

Source: IndexBox Platform

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