Southern Asia: Bituminous Mixtures Market 2024

Bituminous Mixtures Market Size in Southern Asia

In 2021, the South Asian bituminous mixtures market decreased by -4.3% to $X for the first time since 2014, thus ending a six-year rising trend. The total consumption indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +27.0% against 2013 indices. The level of consumption peaked at $X in 2020, and then contracted in the following year.

Bituminous Mixtures Production in Southern Asia

In value terms, bituminous mixtures production fell to $X in 2021 estimated in export price. The total production indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +4.3% 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 increased by +45.2% against 2015 indices. The pace of growth appeared the most rapid in 2013 with an increase of 25% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then declined in the following year.

Bituminous Mixtures Exports

Exports in Southern Asia

In 2021, overseas shipments of bituminous mixtures increased by 60% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports saw prominent growth. The most prominent rate of growth was recorded in 2016 with an increase of 645%. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, bituminous mixtures exports soared to $X in 2021. Over the period under review, exports continue to indicate a strong expansion. The growth pace was the most rapid in 2016 when exports increased by 603%. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The biggest shipments were from India (X tons), together reaching 99% of total export.

India was also the fastest-growing in terms of the bituminous mixtures exports, with a CAGR of +19.9% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest bituminous mixtures supplier in Southern Asia.

From 2012 to 2021, the average annual growth rate of value in India amounted to +15.4%.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2021, declining by -24.8% against the previous year. In general, the export price saw a pronounced downturn. The pace of growth appeared the most rapid in 2013 when the export price increased by 49%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, 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 2021, the rate of growth in terms of prices for India amounted to -3.7% per year.

Bituminous Mixtures Imports

Imports in Southern Asia

In 2021, overseas purchases of bituminous mixtures decreased by -10.3% to X tons for the first time since 2017, thus ending a three-year rising trend. Overall, imports continue to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 67% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, bituminous mixtures imports expanded remarkably to $X in 2021. In general, imports saw a mild curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 39%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Pakistan (X tons) and India (X tons) represented roughly 62% of total imports in 2021. Maldives (X tons) held a 13% share (based on physical terms) of total imports, which put it in second place, followed by Bangladesh (12%), Nepal (6.2%) and Sri Lanka (5.2%). Bhutan (X tons) took a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Maldives (with a CAGR of +46.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest bituminous mixtures importing markets in Southern Asia were Pakistan ($X), India ($X) and Bangladesh ($X), together comprising 82% of total imports. These countries were followed by Maldives, Sri Lanka, Nepal and Bhutan, which together accounted for a further 18%.

In terms of the main importing countries, Maldives, with a CAGR of +41.6%, saw the highest rates of growth with regard to 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 Southern Asia stood at $X per ton in 2021, surging by 28% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.0%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Bangladesh ($X per ton), while Nepal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+9.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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