Malaysia: Market for Asphalt or Bitumen Articles 2024

Market Size for Asphalt or Bitumen Articles in Malaysia

The Malaysian asphalt or bitumen article market dropped slightly to $X in 2022, remaining constant against the previous year. Over the period under review, consumption showed a noticeable reduction. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Asphalt or Bitumen Articles in Malaysia

In value terms, asphalt or bitumen article production shrank modestly to $X in 2022 estimated in export price. In general, production saw a perceptible downturn. The most prominent rate of growth was recorded in 2015 with an increase of 35% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Exports of Asphalt or Bitumen Articles

Exports from Malaysia

In 2022, approx. X tons of asphalt or bitumen articles were exported from Malaysia; dropping by -10.1% compared with the previous year. Over the period under review, exports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2016 when exports increased by 35% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, asphalt or bitumen article exports fell to $X in 2022. Overall, exports saw a deep setback. The pace of growth appeared the most rapid in 2014 with an increase of 28% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Indonesia (X tons) was the main destination for asphalt or bitumen article exports from Malaysia, with a 44% share of total exports. Moreover, asphalt or bitumen article exports to Indonesia exceeded the volume sent to the second major destination, China (X tons), twofold. The Philippines (X tons) ranked third in terms of total exports with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Indonesia totaled -4.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-11.0% per year) and the Philippines (+4.1% per year).

In value terms, Indonesia ($X) remains the key foreign market for asphalt or bitumen articles exports from Malaysia, comprising 40% of total exports. The second position in the ranking was held by China ($X), with a 19% share of total exports. It was followed by the Philippines, with a 13% share.

From 2012 to 2022, the average annual growth rate of value to Indonesia amounted to -7.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-10.0% per year) and the Philippines (+3.2% per year).

Export Prices by Country

In 2022, the average asphalt or bitumen article export price amounted to $X per ton, leveling off at the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by 25%. Over the period under review, the average export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to India ($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 Japan (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Asphalt or Bitumen Articles

Imports into Malaysia

In 2022, the amount of asphalt or bitumen articles imported into Malaysia declined to X tons, shrinking by -8.8% against 2021. Overall, total imports indicated temperate growth from 2012 to 2022: its volume increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +10.7% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of 91%. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, asphalt or bitumen article imports contracted to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 83%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Italy (X tons), China (X tons) and Russia (X tons) were the main suppliers of asphalt or bitumen article imports to Malaysia, with a combined 69% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +65.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest asphalt or bitumen article suppliers to Malaysia were Italy ($X), China ($X) and the United States ($X), together comprising 62% of total imports. Russia, Canada, South Korea, the United Arab Emirates and Egypt lagged somewhat behind, together comprising a further 23%.

Russia, with a CAGR of +26.7%, recorded the highest rates of growth with regard to the value of imports, in terms of 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, remaining relatively unchanged against the previous year. Over the period under review, the import price, however, saw a perceptible setback. The growth pace was the most rapid in 2017 an increase of 12%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+4.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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