China: Market for Asphalt or Bitumen Articles 2024

Market Size for Asphalt or Bitumen Articles in China

The Chinese asphalt or bitumen article market totaled $X in 2022, growing by X% against the previous year. In general, the total consumption indicated a moderate 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. Asphalt or bitumen article consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Asphalt or Bitumen Articles in China

In value terms, asphalt or bitumen article production rose significantly to $X in 2022 estimated in export price. Overall, the total production indicated a moderate expansion 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 appeared the most rapid in 2020 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Exports of Asphalt or Bitumen Articles

Exports from China

In 2022, the amount of asphalt or bitumen articles exported from China surged to X tons, rising by X% on 2021. In general, exports showed a noticeable expansion. The growth pace was the most rapid in 2017 when exports increased by X%. As a result, the exports attained 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 skyrocketed to $X in 2022. Overall, exports saw a prominent increase. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Indonesia (X tons), Thailand (X tons) and Vietnam (X tons) were the main destinations of asphalt or bitumen article exports from China, with a combined X% share of total exports. Malaysia, Tanzania, South Korea, India, Ghana, Taiwan (Chinese), the Philippines, Macao SAR, Democratic People's Republic of Korea and Lao People's Democratic Republic lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Macao SAR (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for asphalt or bitumen article exported from China were Indonesia ($X), Vietnam ($X) and Malaysia ($X), together accounting for X% of total exports. Thailand, India, Tanzania, South Korea, Ghana, Taiwan (Chinese), the Philippines, Lao People's Democratic Republic, Democratic People's Republic of Korea and Macao SAR lagged somewhat behind, together accounting for a further X%.

Macao SAR, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average asphalt or bitumen article export price stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, export price indicated a perceptible increase from 2012 to 2022: its price 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, asphalt or bitumen article export price increased by X% against 2017 indices. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then reduced in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Macao SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Asphalt or Bitumen Articles

Imports into China

In 2022, purchases abroad of asphalt or bitumen articles was finally on the rise to reach X tons after five years of decline. In general, imports, however, recorded a abrupt decline. The growth pace was the most rapid in 2016 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, asphalt or bitumen article imports soared to $X in 2022. Over the period under review, imports, however, showed a noticeable curtailment. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest asphalt or bitumen article supplier to China, with a X% share of total imports. Moreover, asphalt or bitumen article imports from Malaysia exceeded the figures recorded by the second-largest supplier, Canada (X tons), threefold. Russia (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual growth rate of volume from Malaysia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (X% per year) and Russia (X% per year).

In value terms, Malaysia ($X) constituted the largest supplier of asphalt or bitumen articles to China, comprising X% of total imports. The second position in the ranking was held by Canada ($X), with a X% share of total imports. It was followed by the UK, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Malaysia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (X% per year) and the UK (X% per year).

Import Prices by Country

The average asphalt or bitumen article import price stood at $X per ton in 2022, jumping by X% against the previous year. In general, import price indicated notable growth from 2012 to 2022: its price 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 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

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

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

Source: IndexBox Platform

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