Asia-Pacific: Market for Asphalt or Bitumen Articles 2024

Market Size for Asphalt or Bitumen Articles in Asia-Pacific

The Asia-Pacific asphalt or bitumen article market expanded slightly to $X in 2022, surging by X% against the previous year. The total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Asphalt or Bitumen Articles in Asia-Pacific

In value terms, asphalt or bitumen article production totaled $X in 2022 estimated in export price. The total production indicated notable growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Asphalt or Bitumen Articles

Exports in Asia-Pacific

In 2022, the amount of asphalt or bitumen articles exported in Asia-Pacific skyrocketed to X tons, with an increase of X% on the previous year's figure. In general, exports enjoyed a measured expansion. The growth pace was the most rapid in 2017 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, asphalt or bitumen article exports surged to $X in 2022. Total exports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2017 indices. The pace of growth was the most pronounced in 2017 with an increase of X%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, China (X tons) and South Korea (X tons) represented the key exporters of asphalt or bitumen articles in Asia-Pacific, together recording approx. X% of total exports. It was distantly followed by Malaysia (X tons), constituting an X% share of total exports. The following exporters - Singapore (X tons) and India (X tons) - each accounted for a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and Malaysia ($X) were the countries with the highest levels of exports in 2022, together accounting for X% of total exports. Singapore and India lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, India, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2021, and then shrank modestly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while South Korea ($X per ton) was amongst the lowest.

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

Imports of Asphalt or Bitumen Articles

Imports in Asia-Pacific

In 2022, purchases abroad of asphalt or bitumen articles increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of X%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, asphalt or bitumen article imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the twelve major importers of asphalt or bitumen articles, namely Japan, Indonesia, India, Vietnam, Australia, the Philippines, Afghanistan, Thailand, New Zealand, Malaysia, China and Taiwan (Chinese), represented more than two-thirds of total import.

From 2012 to 2022, the biggest increases were recorded for Afghanistan (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest asphalt or bitumen article importing markets in Asia-Pacific were Japan ($X), Indonesia ($X) and India ($X), together accounting for X% of total imports. Vietnam, Australia, the Philippines, Thailand, New Zealand, China, Malaysia, Afghanistan and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

Afghanistan, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of 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

The import price in Asia-Pacific stood at $X per ton in 2022, surging by X% against the previous year. Overall, the import price, however, continues to indicate a slight setback. The growth pace was the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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