Report Update Nov 1, 2024

Philippines - Asphalt or Bitumen Articles - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Market for Asphalt or Bitumen Articles 2024

Market Size for Asphalt or Bitumen Articles in the Philippines

The Philippine asphalt or bitumen article market soared to $X in 2022, jumping by 55% 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). Over the period under review, consumption showed buoyant growth. 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 the Philippines

After two years of growth, shipments abroad of asphalt or bitumen articles decreased by -43.4% to X tons in 2022. In general, exports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of 6,745% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, asphalt or bitumen article exports plummeted to $X in 2022. Over the period under review, exports, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of 5,871%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons) and Vietnam (X tons) were the main destinations of asphalt or bitumen article exports from the Philippines.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +224.5%).

In value terms, the largest markets for asphalt or bitumen article exported from the Philippines were Japan ($X) and Vietnam ($X).

In terms of the main countries of destination, Vietnam, with a CAGR of +247.8%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2022, the average asphalt or bitumen article export price amounted to $X per ton, with an increase of 9.8% against the previous year. Overall, the export price enjoyed slight growth. The growth pace was the most rapid in 2014 an increase of 71% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external 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 Vietnam amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+48.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Asphalt or Bitumen Articles

Imports into the Philippines

In 2022, imports of asphalt or bitumen articles into the Philippines skyrocketed to X tons, growing by 35% on 2021. The total import volume increased at an average annual rate of +4.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, asphalt or bitumen article imports surged to $X in 2022. In general, imports posted a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest asphalt or bitumen article supplier to the Philippines, accounting for a 41% share of total imports. Moreover, asphalt or bitumen article imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), twofold. The third position in this ranking was held by Italy (X tons), with an 8.8% share.

From 2012 to 2022, the average annual growth rate of volume from the United Arab Emirates totaled +52.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+14.6% per year) and Italy (-7.2% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of asphalt or bitumen articles to the Philippines, comprising 39% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 19% share of total imports. It was followed by Italy, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates totaled +61.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+13.3% per year) and Italy (-2.9% per year).

Import Prices by Country

The average asphalt or bitumen article import price stood at $X per ton in 2022, growing by 14% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.1%. The growth pace was the most rapid in 2013 an increase of 22%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Saudi Arabia ($X per ton) and Egypt ($X per ton), while the price for the United Arab Emirates ($X per ton) and Canada ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+11.0%), 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, with a combined 69% share of global production. These countries were followed by Brazil, Italy, Germany, Iran, Turkey, Mexico and Egypt, which together accounted for a further 17%.

What are the leading suppliers of asphalt or bitumen articles to the Philippines?

In value terms, the largest asphalt or bitumen article suppliers to the Philippines were Italy, Malaysia and Egypt, with a combined 54% share of total imports. China, the United Arab Emirates, South Korea, the United States and Russia lagged somewhat behind, together comprising a further 38%.

What is the average export price for asphalt or bitumen articles in the Philippines?

The average asphalt or bitumen article export price stood at $774 per ton in 2021, with an increase of 4.8% against the previous year.

What is the average import price for asphalt or bitumen articles in the Philippines?

In 2021, the average asphalt or bitumen article import price amounted to $683 per ton, surging by 12% against the previous year.

This report provides an in-depth analysis of the market for asphalt or bitumen article in the Philippines. 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:

Philippines

Data coverage:

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