Report Malaysia - Natural Bitumen and Asphalt - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Jun 1, 2025

Malaysia - Natural Bitumen and Asphalt - Market Analysis, Forecast, Size, Trends and Insights

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Malaysia: Market for Natural Bitumen and Asphalt 2025

Market Size for Natural Bitumen and Asphalt in Malaysia

The Malaysian natural bitumen and asphalt market expanded remarkably to $X in 2021, increasing by 6.7% against the previous year. Overall, the total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -2.7% against 2019 indices. Natural bitumen and asphalt consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Natural Bitumen and Asphalt in Malaysia

In value terms, natural bitumen and asphalt production expanded significantly to $X in 2021 estimated in export price. Overall, the total production indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -2.2% against 2019 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 23% against the previous year. Natural bitumen and asphalt production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Natural Bitumen and Asphalt

Exports from Malaysia

In 2021, the amount of natural bitumen and asphalt exported from Malaysia fell to X tons, with a decrease of -11.4% against the previous year's figure. In general, exports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of 95%. Over the period under review, the exports attained the peak figure at X tons in 2020, and then dropped in the following year.

In value terms, natural bitumen and asphalt exports declined to $X in 2021. Over the period under review, exports, however, enjoyed a perceptible increase. The most prominent rate of growth was recorded in 2017 with an increase of 98% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2020, and then reduced in the following year.

Exports by Country

Thailand (X tons), Vietnam (X tons) and Cambodia (X tons) were the main destinations of natural bitumen and asphalt exports from Malaysia, with a combined 48% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of +137.6%), while the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X), Thailand ($X) and Vietnam ($X) appeared to be the largest markets for natural bitumen and asphalt exported from Malaysia worldwide, together comprising 44% of total exports.

In terms of the main countries of destination, Vietnam, with a CAGR of +132.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average natural bitumen and asphalt export price amounted to $X per ton, surging by 7.1% against the previous year. Overall, the export price, however, showed a pronounced curtailment. The most prominent rate of growth was recorded in 2019 an increase of 7.9% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was South Africa ($X per ton), while the average price for exports to Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+0.8%), while the prices for the other major destinations experienced a decline.

Imports of Natural Bitumen and Asphalt

Imports into Malaysia

After two years of growth, supplies from abroad of natural bitumen and asphalt decreased by -27.4% to X tons in 2021. Overall, imports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 623% against the previous year. Over the period under review, imports reached the maximum at X tons in 2020, and then fell significantly in the following year.

In value terms, natural bitumen and asphalt imports fell markedly to $X in 2021. In general, imports, however, showed a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of 410%. Over the period under review, imports attained the peak figure at $X in 2020, and then declined markedly in the following year.

Imports by Country

Singapore (X tons), China (X tons) and Iran (X tons) were the main suppliers of natural bitumen and asphalt imports to Malaysia, with a combined 98% share of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +104.8%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Singapore ($X), China ($X) and Iran ($X) constituted the largest natural bitumen and asphalt suppliers to Malaysia, together comprising 96% of total imports.

China, with a CAGR of +100.4%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average natural bitumen and asphalt import price amounted to $X per ton, picking up by 11% against the previous year. Over the period under review, the import price, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2018 when the average import price increased by 39% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Singapore ($X per ton) and China ($X per ton), while the price for the United Arab Emirates ($X per ton) and Iran ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (+0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

China constituted the country with the largest volume of bitumen and asphalt consumption, accounting for 24% of total volume. Moreover, bitumen and asphalt consumption in China exceeded the figures recorded by the second-largest consumer, the United States, twofold. Pakistan ranked third in terms of total consumption with a 4.7% share.
China remains the largest bitumen and asphalt producing country worldwide, accounting for 24% of total volume. Moreover, bitumen and asphalt production in China exceeded the figures recorded by the second-largest producer, the United States, twofold. Pakistan ranked third in terms of total production with a 4.7% share.
In value terms, Singapore constituted the largest supplier of bitumen and asphalt to Malaysia, comprising 78% of total imports. The second position in the ranking was occupied by the United Arab Emirates, with a 20% share of total imports.
In value terms, China, South Africa and Indonesia were the largest markets for bitumen and asphalt exported from Malaysia worldwide, together comprising 58% of total exports. Cambodia, Papua New Guinea, Thailand, Brunei Darussalam and Myanmar lagged somewhat behind, together accounting for a further 24%.
In 2020, the average bitumen and asphalt export price amounted to $427 per ton, declining by -17.9% against the previous year.
In 2020, the average bitumen and asphalt import price amounted to $551 per ton, picking up by 20% against the previous year.

This report provides an in-depth analysis of the market for natural bitumen and asphalt in Malaysia. 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 08991000 - Natural bitumen and natural asphalt, asphaltites and asphaltic rocks

Country coverage:

  • Malaysia

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Malaysia
  • 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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND THE AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS
  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDSThis Chapter is Available Only for the Professional EditionPRO
  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and its Prospects

    1. MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    3. TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    4. PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    5. MARKET FORECAST TO 2035
  4. 4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION

    Finding New Products to Diversify Your Business

    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCTS
    4. MOST TRADED PRODUCTS
    5. MOST PROFITABLE PRODUCTS FOR EXPORTS
  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES
  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Export

    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS
  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
    3. IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
    3. EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    3. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
    4. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
    5. Imports, In Physical Terms, By Country, 2012–2024
    6. Imports, In Value Terms, By Country, 2012–2024
    7. Import Prices, By Country, 2012–2024
    8. Exports, In Physical Terms, By Country, 2012–2024
    9. Exports, In Value Terms, By Country, 2012–2024
    10. Export Prices, By Country, 2012–2024
  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    2. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
    3. Market Structure – Domestic Supply vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    4. Market Structure – Domestic Supply vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    5. Trade Balance, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    6. Trade Balance, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    7. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
    8. Market Volume Forecast to 2035
    9. Market Value Forecast to 2035
    10. Market Size and Growth, By Product
    11. Average Per Capita Consumption, By Product
    12. Exports and Growth, By Product
    13. Export Prices and Growth, By Product
    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: Historical Data (2012–2024) and Forecast (2025–2035)
    22. Production, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    23. Imports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    24. Imports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    25. Imports, In Physical Terms, By Country, 2024
    26. Imports, In Physical Terms, By Country, 2012–2024
    27. Imports, In Value Terms, By Country, 2012–2024
    28. Import Prices, By Country, 2012–2024
    29. Exports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    30. Exports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    31. Exports, In Physical Terms, By Country, 2024
    32. Exports, In Physical Terms, By Country, 2012–2024
    33. Exports, In Value Terms, By Country, 2012–2024
    34. Export Prices, By Country, 2012–2024

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