Asia: Market for Natural Bitumen and Asphalt 2024

Market Size for Natural Bitumen and Asphalt in Asia

The Asian natural bitumen and asphalt market expanded notably to $X in 2022, with an increase of X% against the previous year. Overall, consumption recorded prominent growth. The level of consumption peaked in 2022 and is likely to see steady growth in years to come.

Production of Natural Bitumen and Asphalt in Asia

In value terms, natural bitumen and asphalt production expanded notably to $X in 2022 estimated in export price. Over the period under review, production enjoyed prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production attained the maximum level in 2022 and is expected to retain growth in years to come.

Exports of Natural Bitumen and Asphalt

Exports in Asia

In 2022, shipments abroad of natural bitumen and asphalt decreased by X% to X tons, falling for the second year in a row after three years of growth. Over the period under review, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2013 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, natural bitumen and asphalt exports declined markedly to $X in 2022. In general, exports continue to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2014 with an increase of X%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The shipments of the three major exporters of natural bitumen and asphalt, namely Bahrain, Indonesia and Iraq, represented more than two-thirds of total export. It was distantly followed by Saudi Arabia (X tons) and Taiwan (Chinese) (X tons), together constituting an X% share of total exports. The following exporters - Malaysia (X tons) and Iran (X tons) - together made up X% of total exports.

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

In value terms, the largest natural bitumen and asphalt supplying countries in Asia were Bahrain ($X), Iraq ($X) and Malaysia ($X), together comprising X% of total exports.

In terms of the main exporting countries, Bahrain, with a CAGR of X%, recorded 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

In 2022, the export price in Asia amounted to $X per ton, shrinking by X% against the previous year. In general, the export price saw a pronounced descent. The pace of growth appeared the most rapid in 2014 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 reduced sharply in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced a decline in the export price figures.

Imports of Natural Bitumen and Asphalt

Imports in Asia

In 2022, overseas purchases of natural bitumen and asphalt increased by X% to X tons, rising for the fifth year in a row after five years of decline. Overall, imports, however, recorded a mild contraction. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, natural bitumen and asphalt imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons), distantly followed by the Philippines (X tons), the United Arab Emirates (X tons), Vietnam (X tons), Cambodia (X tons) and Myanmar (X tons) were the largest importers of natural bitumen and asphalt, together mixing up X% of total imports. Oman (X tons) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the United Arab Emirates (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest natural bitumen and asphalt importing markets in Asia were the Philippines ($X), Vietnam ($X) and China ($X), with a combined X% share of total imports. The United Arab Emirates, Cambodia, Myanmar and Oman lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, the United Arab Emirates, with a CAGR of X%, 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 Asia stood at $X per ton in 2022, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices attained the peak figure at $X per ton in 2015; however, from 2016 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 Vietnam ($X per ton), while China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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