Eastern Asia: Market for Asphalt or Bitumen Articles 2024

Market Size for Asphalt or Bitumen Articles in Eastern Asia

The East Asian asphalt or bitumen article market was estimated at $X in 2022, rising by X% against the previous year. The total consumption 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, consumption decreased by X% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Asphalt or Bitumen Articles in Eastern Asia

In value terms, asphalt or bitumen article production expanded slightly to $X in 2022 estimated in export price. The total production indicated a tangible 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, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Asphalt or Bitumen Articles

Exports in Eastern Asia

In 2022, the amount of asphalt or bitumen articles exported in Eastern Asia soared to X tons, increasing by X% on the previous year's figure. Over the period under review, exports continue to indicate a moderate expansion. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. 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. Total exports indicated a remarkable 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, exports decreased by X% against 2017 indices. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

China (X tons) and South Korea (X tons) represented roughly X% of total exports in 2022.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of X%).

In value terms, the largest asphalt or bitumen article supplying countries in Eastern Asia were China ($X) and South Korea ($X).

China, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, waning by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 an increase of X%. The level of export peaked at $X per ton in 2021, and then shrank slightly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while South Korea amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%).

Imports of Asphalt or Bitumen Articles

Imports in Eastern Asia

In 2022, overseas purchases of asphalt or bitumen articles were finally on the rise to reach X tons after two years of decline. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 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 surged to $X in 2022. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Japan (X tons) was the largest importer of asphalt or bitumen articles, committing X% of total imports. China (X tons) took the second position in the ranking, followed by Taiwan (Chinese) (X tons) and South Korea (X tons). All these countries together held near X% share of total imports. The following importers - Hong Kong SAR (X tons) and Macao SAR (X tons) - each reached a X% share of total imports.

Imports into Japan increased at an average annual rate of X% from 2012 to 2022. At the same time, Macao SAR (X%) displayed positive paces of growth. Moreover, Macao SAR emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2022. Hong Kong SAR experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (X%), South Korea (X%) and China (X%) illustrated a downward trend over the same period. Japan (X p.p.) significantly strengthened its position in terms of the total imports, while Taiwan (Chinese), South Korea and China saw its share reduced by X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported asphalt or bitumen articles in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Japan totaled X%. In the other countries, the average annual rates were as follows: China (X% per year) and South Korea (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 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 ($X per ton), while Macao SAR ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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