Asia: Explosives Market 2022

Explosives Market Size in Asia

In 2021, after four years of growth, there was significant decline in the Asian explosives market, when its value decreased by -X% to $X. The total consumption indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +X% against 2016 indices. Over the period under review, the market hit record highs at $X in 2020, and then contracted in the following year.

Explosives Production in Asia

In value terms, explosives production dropped to $X in 2021 estimated in export price. The total production indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +X% 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 +X% against 2016 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then shrank in the following year.

Explosives Exports

Exports in Asia

In 2021, overseas shipments of prepared explosives were finally on the rise to reach X tons after two years of decline. Overall, exports, however, recorded a perceptible decrease. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, explosives exports surged to $X in 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

In 2021, India (X tons), distantly followed by Turkey (X tons), Oman (X tons), Vietnam (X tons) and China (X tons) represented the main exporters of prepared explosives, together making up X% of total exports. Saudi Arabia (X tons), Israel (X tons), the Philippines (X tons), South Korea (X tons) and Hong Kong SAR (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Hong Kong SAR (with a CAGR of +X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest explosives supplying countries in Asia were India ($X), the Philippines ($X) and China ($X), together accounting for X% of total exports. These countries were followed by Turkey, Oman, South Korea, Vietnam, Saudi Arabia, Israel and Hong Kong SAR, which together accounted for a further X the main exporting countries, Oman, with a CAGR of +X%, recorded the highest rates of growth with regard to 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 stood at $X per ton in 2021, picking up by X% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +X%. The growth pace was the most rapid in 2019 when the export price increased by X%. Over the period under review, the export prices reached the peak figure in 2021 and is likely to continue growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was the Philippines ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, 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.

Explosives Imports

Imports in Asia

After three years of decline, purchases abroad of prepared explosives increased by X% to X tons in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, explosives imports amounted to $X in 2021. Over the period under review, imports, however, saw a noticeable descent. The pace of growth was the most pronounced in 2017 when imports increased by X%. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Kazakhstan represented the key importing country with an import of around X tons, which finished at X% of total imports. Kuwait (X tons) ranks second in terms of the total imports with a X% share, followed by Mongolia (X%), Nepal (X%) and Syrian Arab Republic (X%). Indonesia (X tons), Azerbaijan (X tons), Iraq (X tons), Georgia (X tons), Thailand (X tons), Bhutan (X tons), the United Arab Emirates (X tons) and Turkey (X tons) followed a long way behind the leaders.

Imports into Kazakhstan decreased at an average annual rate of -X% from 2012 to 2021. At the same time, Nepal (+X%), the United Arab Emirates (+X%), Kuwait (+X%), Syrian Arab Republic (+X%), Turkey (+X%), Thailand (+X%), Azerbaijan (+X%), Iraq (+X%) and Georgia (+X%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Asia, with a CAGR of +X% from 2012-2021. By contrast, Mongolia (-X%), Indonesia (-X%) and Bhutan (-X%) illustrated a downward trend over the same period. Kuwait (+X p.p.), Nepal (+X p.p.), Syrian Arab Republic (+X p.p.) and the United Arab Emirates (+X p.p.) significantly strengthened its position in terms of the total imports, while Kazakhstan, Mongolia, Bhutan and Indonesia saw its share reduced by -X%, -X%, -X% and -X% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest explosives importing markets in Asia were Indonesia ($X), the United Arab Emirates ($X) and Syrian Arab Republic ($X), together accounting for X% of total imports. Kazakhstan, Kuwait, Turkey, Iraq, Mongolia, Thailand, Nepal, Georgia, Azerbaijan and Bhutan lagged somewhat behind, together comprising a further X, 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 stood at $X per ton in 2021, reducing by -X% against the previous year. Over the period under review, the import price recorded a slight slump. The pace of growth appeared the most rapid in 2013 when the import price increased by X%. Over the period under review, import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while Bhutan ($X per ton) was amongst the lowest.

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

Source: IndexBox Market Intelligence Platform

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