Report Update Nov 1, 2024

Hong Kong SAR, China - Asphalt or Bitumen Articles - Market Analysis, Forecast, Size, Trends and Insights

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Hong Kong SAR, China: Market for Asphalt or Bitumen Articles 2024

Market Size for Asphalt or Bitumen Articles in Hong Kong SAR, China

The Hong Kong asphalt or bitumen article market reduced dramatically to $X in 2022, waning by -21.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a abrupt slump. Asphalt or bitumen article consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Exports of Asphalt or Bitumen Articles

Exports from Hong Kong SAR, China

In 2022, asphalt or bitumen article exports from Hong Kong SAR was estimated at X tons, with an increase of 8.7% compared with the year before. In general, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2021 when exports increased by 1,245% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, asphalt or bitumen article exports rose notably to $X in 2022. Overall, exports showed significant growth. The pace of growth was the most pronounced in 2021 when exports increased by 636% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

Exports by Country

Macao SAR (X tons) was the main destination for asphalt or bitumen article exports from Hong Kong SAR, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Macao SAR totaled +22.5%.

In value terms, Macao SAR ($X) also remains the key foreign market for asphalt or bitumen articles exports from Hong Kong SAR.

From 2012 to 2022, the average annual rate of growth in terms of value to Macao SAR stood at +20.2%.

Export Prices by Country

The average asphalt or bitumen article export price stood at $X per ton in 2022, dropping by -3.3% against the previous year. In general, the export price saw a perceptible descent. The pace of growth was the most pronounced in 2014 when the average export price increased by 68%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Macao SAR.

From 2012 to 2022, the rate of growth in terms of prices for Macao SAR amounted to -1.9% per year.

Imports of Asphalt or Bitumen Articles

Imports into Hong Kong SAR, China

Asphalt or bitumen article imports into Hong Kong SAR declined to X tons in 2022, shrinking by -8.2% on the previous year's figure. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 49% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, asphalt or bitumen article imports reduced notably to $X in 2022. Overall, imports continue to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 52% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Italy (X tons), Egypt (X tons) and the United States (X tons) were the main suppliers of asphalt or bitumen article imports to Hong Kong SAR, with a combined 64% share of total imports. The United Arab Emirates, Spain, China, Singapore, South Korea, the UK and Saudi Arabia lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +55.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest asphalt or bitumen article suppliers to Hong Kong SAR were Italy ($X), Egypt ($X) and the United States ($X), with a combined 54% share of total imports. Singapore, the United Arab Emirates, China, South Korea, Spain, the UK and Saudi Arabia lagged somewhat behind, together accounting for a further 36%.

Singapore, with a CAGR of +47.7%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average asphalt or bitumen article import price stood at $X per ton in 2022, which is down by -9.1% against the previous year. Over the period under review, the import price continues to indicate a mild decline. The most prominent rate of growth was recorded in 2021 an increase of 28%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for Egypt ($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 (+7.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for asphalt or bitumen articles in the world?

The countries with the highest volumes of in 2021 were the United States, China and Russia, together accounting for 67% of global consumption. These countries were followed by Brazil, Germany, Italy, Iran, Turkey and Mexico, which together accounted for a further 14%.

What are the largest producers of asphalt or bitumen articles in the world?

The countries with the highest volumes of in 2021 were the United States, China and Russia, together accounting for 69% of global production. Brazil, Italy, Germany, Iran, Turkey, Mexico and Egypt lagged somewhat behind, together comprising a further 17%.

What are the leading suppliers of asphalt or bitumen articles to Hong Kong SAR, China?

In value terms, Spain, China and Italy constituted the largest asphalt or bitumen article suppliers to Hong Kong SAR, together accounting for 69% of total imports.

What are the leading importers of asphalt or bitumen articles from Hong Kong SAR, China?

In value terms, Macao SAR remains the key foreign market for asphalt or bitumen article exports from Hong Kong SAR, comprising 99% of total exports. The second position in the ranking was occupied by Canada, with a 0.4% share of total exports.

What is the average export price for asphalt or bitumen articles in Hong Kong SAR, China?

In 2021, the average asphalt or bitumen article export price amounted to $3,378 per ton, growing by 13% against the previous year.

What is the average import price for asphalt or bitumen articles in Hong Kong SAR, China?

The average asphalt or bitumen article import price stood at $871 per ton in 2021, remaining constant against the previous year.

This report provides an in-depth analysis of the market for asphalt or bitumen article in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 23991255 - Articles of asphalt or of similar materials, e.g. petroleum bitumen or coal tar pitch, in rolls
Prodcom 23991290 - Products based on bitumen (excluding in rolls)

Country coverage:

Hong Kong SAR

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Hong Kong SAR, China
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023