Indonesia: Market for Asphalt or Bitumen Articles 2024

Market Size for Asphalt or Bitumen Articles in Indonesia

The Indonesian asphalt or bitumen article market skyrocketed to $X in 2022, picking up by 164% 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). In general, consumption saw a prominent increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Asphalt or Bitumen Articles

Exports from Indonesia

Asphalt or bitumen article exports from Indonesia dropped notably to X tons in 2022, with a decrease of -17.2% against the previous year's figure. In general, exports, however, recorded a buoyant expansion. The growth pace was the most rapid in 2014 when exports increased by 230%. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, asphalt or bitumen article exports shrank markedly to $X in 2022. Overall, exports, however, enjoyed a strong expansion. The pace of growth appeared the most rapid in 2014 with an increase of 82%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

South Korea (X tons) was the main destination for asphalt or bitumen article exports from Indonesia, accounting for a 85% share of total exports. Moreover, asphalt or bitumen article exports to South Korea exceeded the volume sent to the second major destination, Japan (X tons), more than tenfold. The third position in this ranking was taken by Vietnam (X tons), with a 5.4% share.

From 2012 to 2022, the average annual growth rate of volume to South Korea totaled +27.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+63.3% per year) and Vietnam (+76.2% per year).

In value terms, South Korea ($X) remains the key foreign market for asphalt or bitumen articles exports from Indonesia, comprising 75% of total exports. The second position in the ranking was taken by Japan ($X), with a 16% share of total exports. It was followed by Vietnam, with a 5.3% share.

From 2012 to 2022, the average annual growth rate of value to South Korea totaled +35.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+66.5% per year) and Vietnam (+89.5% per year).

Export Prices by Country

In 2022, the average asphalt or bitumen article export price amounted to $X per ton, remaining constant against the previous year. Overall, the export price recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2013 an increase of 39% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Timor-Leste (+16.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Asphalt or Bitumen Articles

Imports into Indonesia

In 2022, the amount of asphalt or bitumen articles imported into Indonesia skyrocketed to X tons, with an increase of 147% compared with the year before. In general, imports continue to indicate strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, asphalt or bitumen article imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Malaysia (X tons), Italy (X tons) and China (X tons) were the main suppliers of asphalt or bitumen article imports to Indonesia, with a combined 49% share of total imports. Egypt, Russia, Turkey, the United States and South Korea lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +163.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X) constituted the largest supplier of asphalt or bitumen articles to Indonesia, comprising 27% of total imports. The second position in the ranking was held by Russia ($X), with a 13% share of total imports. It was followed by Turkey, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Malaysia totaled +8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+100.6% per year) and Turkey (+97.2% per year).

Import Prices by Country

The average asphalt or bitumen article import price stood at $X per ton in 2022, remaining constant against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 13% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for Egypt ($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 (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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