Eastern Asia: Cement Market 2024

Cement Market Size in Eastern Asia

The East Asian cement market totaled $X in 2022, picking up by 2.1% against the previous year. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Cement Production in Eastern Asia

In value terms, cement production rose slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The growth pace was the most rapid in 2016 when the production volume increased by 20% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Cement Exports

Exports in Eastern Asia

In 2022, the amount of cement exported in Eastern Asia declined to X tons, with a decrease of -12.6% on 2021. Overall, exports continue to indicate a deep reduction. The pace of growth was the most pronounced in 2017 with an increase of 15% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, cement exports rose slightly to $X in 2022. In general, exports recorded a deep downturn. The most prominent rate of growth was recorded in 2013 when exports increased by 11%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Japan represented the main exporter of cement in Eastern Asia, with the volume of exports amounting to X tons, which was approx. 51% of total exports in 2022. Taiwan (Chinese) (X tons) ranks second in terms of the total exports with a 19% share, followed by China (19%) and South Korea (9.6%).

Japan experienced a relatively flat trend pattern with regard to volume of exports of cement. Taiwan (Chinese) (-6.5%), South Korea (-11.1%) and China (-14.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Japan and Taiwan (Chinese) increased by +27 and +1.7 percentage points, respectively.

In value terms, Japan ($X), China ($X) and Taiwan (Chinese) ($X) constituted the countries with the highest levels of exports in 2022, with a combined 88% share of total exports.

Japan, with a CAGR of +0.3%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, rising by 18% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.6%), while the other leaders experienced more modest paces of growth.

Cement Imports

Imports in Eastern Asia

Cement imports reduced notably to X tons in 2022, falling by -23.2% on the previous year. Overall, imports, however, recorded a remarkable increase. The growth pace was the most rapid in 2017 when imports increased by 73%. Over the period under review, imports reached the peak figure at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, cement imports shrank to $X in 2022. Total imports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 34% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then shrank in the following year.

Imports by Country

Hong Kong SAR (X tons) and China (X tons) prevails in imports structure, together mixing up 85% of total imports. It was distantly followed by Taiwan (Chinese) (X tons), generating a 7.5% share of total imports. Macao SAR (X tons) and Democratic People's Republic of Korea (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by China (with a CAGR of +27.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), China ($X) and Taiwan (Chinese) ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 79% share of total imports.

China, with a CAGR of +14.0%, saw the highest rates of growth with regard to the value of imports, among 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 Eastern Asia stood at $X per ton in 2022, rising by 17% against the previous year. In general, the import price, however, saw a pronounced decline. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Macao SAR ($X per ton) and Democratic People's Republic of Korea ($X per ton), while Taiwan (Chinese) ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Macao SAR (+3.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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