South-Eastern Asia: Asphalted Paper Market 2024

Asphalted Paper Market Size in South-Eastern Asia

For the fourth year in a row, the Southeast Asian asphalted paper market recorded growth in sales value, which increased by 7.3% to $X in 2022. The total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +68.4% against 2018 indices. Over the period under review, the market attained the peak level in 2022 and is likely to continue growth in years to come.

Asphalted Paper Production in South-Eastern Asia

In value terms, asphalted paper production expanded markedly to $X in 2022 estimated in export price. In general, production showed resilient growth. The growth pace was the most rapid in 2018 when the production volume increased by 126%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Asphalted Paper Exports

Exports in South-Eastern Asia

In 2022, the amount of tarred, bituminised or asphalted paper and paperboard exported in South-Eastern Asia contracted markedly to X tons, shrinking by -15.5% compared with the year before. In general, exports recorded a deep slump. The pace of growth appeared the most rapid in 2018 with an increase of 110%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, asphalted paper exports declined sharply to $X in 2022. Overall, exports saw a pronounced slump. The pace of growth appeared the most rapid in 2018 when exports increased by 197% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Malaysia prevails in exports structure, amounting to X tons, which was approx. 92% of total exports in 2022. Indonesia (X tons) and Vietnam (X tons) held a little share of total exports.

Malaysia was also the fastest-growing in terms of the tarred, bituminised or asphalted paper and paperboard exports, with a CAGR of +12.7% from 2012 to 2022. At the same time, Vietnam (+7.6%) displayed positive paces of growth. By contrast, Indonesia (-22.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Malaysia increased by +81 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) remains the largest asphalted paper supplier in South-Eastern Asia, comprising 88% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 3% share of total exports.

In Malaysia, asphalted paper exports expanded at an average annual rate of +8.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Indonesia (-19.3% per year) and Vietnam (+14.5% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, falling by -6.5% against the previous year. Overall, the export price, however, posted temperate growth. The pace of growth was the most pronounced in 2020 an increase of 87% against the previous year. The level of export peaked at $X per ton in 2021, and then fell in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+6.4%), while the other leaders experienced mixed trends in the export price figures.

Asphalted Paper Imports

Imports in South-Eastern Asia

In 2022, overseas purchases of tarred, bituminised or asphalted paper and paperboard increased by 45% to X tons, rising for the second consecutive year after two years of decline. Total imports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.7% 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 +98.3% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of 98% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, asphalted paper imports rose rapidly to $X in 2022. Overall, imports, however, recorded a perceptible reduction. The most prominent rate of growth was recorded in 2021 when imports increased by 37% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Myanmar (X tons) was the main importer of tarred, bituminised or asphalted paper and paperboard, constituting 64% of total imports. Thailand (X tons) took the second position in the ranking, followed by Cambodia (X tons), Indonesia (X tons) and Malaysia (X tons). All these countries together took near 33% share of total imports. Vietnam (X tons) followed a long way behind the leaders.

Myanmar was also the fastest-growing in terms of the tarred, bituminised or asphalted paper and paperboard imports, with a CAGR of +33.2% from 2012 to 2022. At the same time, Cambodia (+21.8%), Vietnam (+5.4%) and Thailand (+1.5%) displayed positive paces of growth. By contrast, Indonesia (-11.9%) and Malaysia (-12.6%) illustrated a downward trend over the same period. Myanmar (+58 p.p.) and Cambodia (+6.8 p.p.) significantly strengthened its position in terms of the total imports, while Thailand, Malaysia and Indonesia saw its share reduced by -4.8%, -26.3% and -27.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest asphalted paper importing markets in South-Eastern Asia were Thailand ($X), Myanmar ($X) and Indonesia ($X), with a combined 80% share of total imports. Malaysia, Cambodia and Vietnam lagged somewhat behind, together accounting for a further 18%.

In terms of the main importing countries, Cambodia, with a CAGR of +20.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, falling by -27.4% against the previous year. In general, the import price recorded a deep downturn. The most prominent rate of growth was recorded in 2019 when the import price increased by 26%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+5.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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