South-Eastern Asia: Cement Market 2024

Cement Market Size in South-Eastern Asia

The Southeast Asian cement market was estimated at $X in 2022, remaining stable against the previous year. The market value increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Cement Production in South-Eastern Asia

In value terms, cement production shrank to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by 18%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Cement Exports

Exports in South-Eastern Asia

After four years of growth, overseas shipments of cement decreased by -14.8% to X tons in 2022. Over the period under review, exports, however, showed strong growth. The most prominent rate of growth was recorded in 2013 with an increase of 23%. Over the period under review, the exports attained the peak figure at X tons in 2021, and then shrank in the following year.

In value terms, cement exports declined significantly to $X in 2022. Total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +73.0% against 2017 indices. The most prominent rate of growth was recorded in 2013 with an increase of 32% against the previous year. The level of export peaked at $X in 2021, and then contracted markedly in the following year.

Exports by Country

Vietnam represented the main exporter of cement in South-Eastern Asia, with the volume of exports recording X tons, which was approx. 65% of total exports in 2022. Thailand (X tons) took the second position in the ranking, followed by Malaysia (X tons), Indonesia (X tons) and Lao People's Democratic Republic (X tons). All these countries together held near 35% share of total exports.

Vietnam was also the fastest-growing in terms of the cement exports, with a CAGR of +31.7% from 2012 to 2022. At the same time, Indonesia (+22.6%) and Lao People's Democratic Republic (+10.1%) displayed positive paces of growth. Malaysia experienced a relatively flat trend pattern. By contrast, Thailand (-7.8%) illustrated a downward trend over the same period. Vietnam (+56 p.p.) and Indonesia (+4.9 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia and Thailand saw its share reduced by -10.1% and -51.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest cement supplier in South-Eastern Asia, comprising 64% of total exports. The second position in the ranking was taken by Thailand ($X), with a 15% share of total exports. It was followed by Malaysia, with an 8.8% share.

From 2012 to 2022, the average annual growth rate of value in Vietnam amounted to +26.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (-7.3% per year) and Malaysia (-3.6% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, standing approx. at the previous year. In general, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 7.5% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Lao People's Democratic Republic ($X per ton) and Malaysia ($X per ton), while Indonesia ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lao People's Democratic Republic (+3.2%), while the other leaders experienced mixed trends in the export price figures.

Cement Imports

Imports in South-Eastern Asia

Cement imports contracted slightly to X tons in 2022, waning by -4% on the previous year's figure. The total import volume increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 23% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, cement imports expanded modestly to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 21% against the previous year. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the Philippines (X tons) was the key importer of cement, generating 48% of total imports. Singapore (X tons) took the second position in the ranking, distantly followed by Cambodia (X tons). All these countries together took near 36% share of total imports. Malaysia (X tons), Thailand (X tons), Myanmar (X tons) and Lao People's Democratic Republic (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +82.3%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the Philippines ($X), Singapore ($X) and Thailand ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 80% of total imports.

The Philippines, with a CAGR of +64.3%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, surging by 8.1% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+3.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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