Southern Asia: Market for Asphalt or Bitumen Articles 2025

Market Size for Asphalt or Bitumen Articles in Southern Asia

The South Asian asphalt or bitumen article market amounted to $X in 2022, approximately equating the previous year. In general, consumption, however, saw a deep downturn. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Asphalt or Bitumen Articles in Southern Asia

In value terms, asphalt or bitumen article production dropped to $X in 2022 estimated in export price. In general, production showed a deep reduction. The most prominent rate of growth was recorded in 2019 with an increase of 18% against the previous year. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Exports of Asphalt or Bitumen Articles

Exports in Southern Asia

In 2022, shipments abroad of asphalt or bitumen articles was finally on the rise to reach X tons after three years of decline. In general, exports enjoyed buoyant growth. The pace of growth was the most pronounced in 2013 with an increase of 203%. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, asphalt or bitumen article exports surged to $X in 2022. Overall, exports enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 319%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

The biggest shipments were from India (X tons), together accounting for 98% of total export.

India was also the fastest-growing in terms of the asphalt or bitumen articles exports, with a CAGR of +22.2% from 2012 to 2022. India (+22 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest asphalt or bitumen article supplier in Southern Asia.

In India, asphalt or bitumen article exports increased at an average annual rate of +22.0% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, surging by 19% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 38%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to -0.1% per year.

Imports of Asphalt or Bitumen Articles

Imports in Southern Asia

In 2022, overseas purchases of asphalt or bitumen articles increased by 21% to X tons, rising for the second consecutive year after two years of decline. In general, imports saw prominent growth. The growth pace was the most rapid in 2015 when imports increased by 171% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, asphalt or bitumen article imports surged to $X in 2022. Total imports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +4.1% 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 +84.0% against 2020 indices. The growth pace was the most rapid in 2015 with an increase of 99%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

India dominates imports structure, resulting at X tons, which was near 80% of total imports in 2022. It was distantly followed by Pakistan (X tons), creating a 9.1% share of total imports. The following importers - Bangladesh (X tons), Sri Lanka (X tons) and Maldives (X tons) - together made up 8.3% of total imports.

From 2012 to 2022, average annual rates of growth with regard to asphalt or bitumen article imports into India stood at +8.8%. At the same time, Maldives (+29.3%), Bangladesh (+8.4%) and Pakistan (+7.5%) displayed positive paces of growth. Moreover, Maldives emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +29.3% from 2012-2022. By contrast, Sri Lanka (-5.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India and Maldives increased by +5.2 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported asphalt or bitumen articles in Southern Asia, comprising 81% of total imports. The second position in the ranking was taken by Bangladesh ($X), with an 8.4% share of total imports. It was followed by Sri Lanka, with a 3.7% share.

In India, asphalt or bitumen article imports expanded at an average annual rate of +3.7% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (+8.9% per year) and Sri Lanka (+0.2% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, rising by 5.6% against the previous year. In general, the import price, however, recorded a noticeable setback. The pace of growth appeared the most rapid in 2019 an increase of 12% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 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 Bangladesh ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+5.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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