Eastern Asia: Explosives Market 2024

Explosives Market Size in Eastern Asia

The East Asian explosives market dropped modestly to $X in 2021, shrinking by -4.7% against the previous year. The market value increased at an average annual rate of +2.1% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020, and then contracted modestly in the following year.

Explosives Production in Eastern Asia

In value terms, explosives production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.1% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the production volume increased by 35% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then fell in the following year.

Explosives Exports

Exports in Eastern Asia

In 2021, overseas shipments of prepared explosives decreased by -45.4% to X tons, falling for the second year in a row after two years of growth. In general, exports continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2019 with an increase of 68% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, explosives exports reduced notably to $X in 2021. Over the period under review, exports continue to indicate a abrupt shrinkage. The growth pace was the most rapid in 2018 when exports increased by 91% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, China (X tons) was the largest exporter of prepared explosives, comprising 70% of total exports. It was distantly followed by South Korea (X tons), making up a 29% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to explosives exports from China stood at -15.1%. At the same time, South Korea (+24.3%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +24.3% from 2012-2021. From 2012 to 2021, the share of South Korea increased by +27 percentage points.

In value terms, China ($X) remains the largest explosives supplier in Eastern Asia, comprising 74% of total exports. The second position in the ranking was held by South Korea ($X), with a 23% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled -5.5%.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, with an increase of 20% against the previous year. Overall, the export price enjoyed resilient growth. The most prominent rate of growth was recorded in 2020 an increase of 58% against the previous year. Over the period under review, the export prices reached the peak figure in 2021 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while South Korea amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+11.3%).

Explosives Imports

Imports in Eastern Asia

In 2021, supplies from abroad of prepared explosives increased by 72% to X tons, rising for the second consecutive year after six years of decline. Overall, imports showed a prominent increase. The pace of growth was the most pronounced in 2013 when imports increased by 78% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, explosives imports soared to $X in 2021. In general, imports continue to indicate resilient growth. The pace of growth was the most pronounced in 2020 when imports increased by 80%. Over the period under review, imports attained the maximum in 2021 and are likely to see gradual growth in years to come.

Imports by Country

In 2021, South Korea (X tons) represented the key importer of prepared explosives, making up 59% of total imports. It was distantly followed by China (X tons) and Taiwan (Chinese) (X tons), together creating a 33% share of total imports. Macao SAR (X tons) and Hong Kong SAR (X tons) took a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to explosives imports into South Korea stood at +16.0%. At the same time, China (+25.3%) and Macao SAR (+3.4%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +25.3% from 2012-2021. By contrast, Hong Kong SAR (-5.7%) and Taiwan (Chinese) (-10.9%) illustrated a downward trend over the same period. South Korea (+28 p.p.) and China (+20 p.p.) significantly strengthened its position in terms of the total imports, while Macao SAR, Hong Kong SAR and Taiwan (Chinese) saw its share reduced by -1.8%, -6.5% and -31% from 2012 to 2021, respectively.

In value terms, the largest explosives importing markets in Eastern Asia were China ($X), South Korea ($X) and Taiwan (Chinese) ($X), together accounting for 92% of total imports.

South Korea, with a CAGR of +12.6%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, dropping by -31.7% against the previous year. Over the period under review, the import price continues to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2014 an increase of 39%. Over the period under review, import prices reached the maximum at $X per ton in 2020, and then declined significantly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Macao SAR ($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) (+0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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