Eastern Asia: Non-Rolled Bitumen Products Market 2024

Non-Rolled Bitumen Products Market Size in Eastern Asia

The East Asian non-rolled bitumen products market stood at $X in 2022, leveling off at the previous year. The market value increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Non-Rolled Bitumen Products Production in Eastern Asia

In value terms, non-rolled bitumen products production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2015 when the production volume increased by 20% against the previous year. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

Non-Rolled Bitumen Products Exports

Exports in Eastern Asia

In 2022, approx. X tons of non-rolled bitumen products were exported in Eastern Asia; picking up by 32% on the previous year's figure. In general, exports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of 232% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, non-rolled bitumen products exports skyrocketed to $X in 2022. Over the period under review, exports recorded a strong increase. The growth pace was the most rapid in 2017 with an increase of 196%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, South Korea (X tons) was the major exporter of non-rolled bitumen products, comprising 68% of total exports. It was distantly followed by China (X tons), achieving a 31% share of total exports. Japan (X tons) took a minor share of total exports.

Exports from South Korea increased at an average annual rate of +4.6% from 2012 to 2022. At the same time, China (+11.4%) and Japan (+7.9%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +11.4% from 2012-2022. While the share of China (+12 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Korea (-11.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X) remains the largest non-rolled bitumen products supplier in Eastern Asia, comprising 66% of total exports. The second position in the ranking was held by China ($X), with a 31% share of total exports.

In South Korea, non-rolled bitumen products exports expanded at an average annual rate of +5.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: China (+9.6% per year) and Japan (-0.7% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, picking up by 1.6% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 7% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+0.7%), while the other leaders experienced a decline in the export price figures.

Non-Rolled Bitumen Products Imports

Imports in Eastern Asia

In 2022, purchases abroad of non-rolled bitumen products increased by 12% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when imports increased by 21%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, non-rolled bitumen products imports surged to $X in 2022. The total import value increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Japan (X tons) was the main importer of non-rolled bitumen products, creating 83% of total imports. It was distantly followed by China (X tons) and South Korea (X tons), together constituting a 15% share of total imports.

Japan was also the fastest-growing in terms of the non-rolled bitumen products imports, with a CAGR of +4.8% from 2012 to 2022. China (-9.4%) and South Korea (-11.7%) illustrated a downward trend over the same period. Japan (+29 p.p.) significantly strengthened its position in terms of the total imports, while South Korea and China saw its share reduced by -11.6% and -17.7% from 2012 to 2022, respectively.

In value terms, Japan ($X) constitutes the largest market for imported non-rolled bitumen products in Eastern Asia, comprising 76% of total imports. The second position in the ranking was held by China ($X), with an 18% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Japan totaled +5.3%. In the other countries, the average annual rates were as follows: China (-5.2% per year) and South Korea (-9.3% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, increasing by 8.8% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while South Korea ($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 (+4.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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