Report Update Apr 1, 2024

Eastern Asia - Natural Bitumen and Asphalt - Market Analysis, Forecast, Size, Trends and Insights

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Eastern Asia: Market for Natural Bitumen and Asphalt 2024

Market Size for Natural Bitumen and Asphalt in Eastern Asia

In 2022, the East Asian natural bitumen and asphalt market decreased by X% to $X for the first time since 2015, thus ending a six-year rising trend. In general, consumption, however, enjoyed strong growth. Over the period under review, the market attained the maximum level at $X in 2021, and then shrank in the following year.

Production of Natural Bitumen and Asphalt in Eastern Asia

In value terms, natural bitumen and asphalt production contracted to $X in 2022 estimated in export price. Over the period under review, production, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2021, and then reduced in the following year.

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Exports of Natural Bitumen and Asphalt

Exports in Eastern Asia

In 2022, approx. X tons of natural bitumen and asphalt were exported in Eastern Asia; waning by X% on the year before. Overall, exports faced a deep setback. The growth pace was the most rapid in 2013 with an increase of X%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, natural bitumen and asphalt exports contracted dramatically to $X in 2022. In general, exports recorded a significant curtailment. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Taiwan (Chinese) dominates exports structure, resulting at X tons, which was approx. X% of total exports in 2022. It was distantly followed by China (X tons), generating a X% share of total exports.

Taiwan (Chinese) was also the fastest-growing in terms of the natural bitumen and asphalt exports, with a CAGR of X% from 2012 to 2022. China (X%) illustrated a downward trend over the same period. Taiwan (Chinese) (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest natural bitumen and asphalt supplying countries in Eastern Asia were China ($X) and Taiwan (Chinese) ($X).

China, with a CAGR of X%, recorded 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, which is down by X% against the previous year. Overall, the export price faced a abrupt decline. The growth pace was the most rapid in 2016 an increase of X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2021, and then shrank notably 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 Taiwan (Chinese) totaled $X per ton.

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

Imports of Natural Bitumen and Asphalt

Imports in Eastern Asia

In 2022, the amount of natural bitumen and asphalt imported in Eastern Asia surged to X tons, rising by X% compared with 2021 figures. Overall, imports, however, recorded a perceptible contraction. The pace of growth appeared the most rapid in 2018 when imports increased by X%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, natural bitumen and asphalt imports reduced to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

The purchases of the one major importers of natural bitumen and asphalt, namely China, represented more than two-thirds of total import.

China was also the fastest-growing in terms of the natural bitumen and asphalt imports, with a CAGR of X% from 2012 to 2022. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported natural bitumen and asphalt in Eastern Asia.

From 2012 to 2022, the average annual growth rate of value in China was relatively modest.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, dropping by X% against the previous year. In general, the import price, however, posted prominent growth. The pace of growth was the most pronounced in 2021 an increase of X%. As a result, import price reached the peak level of $X per ton, and then shrank sharply in the following year.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to X% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for natural bitumen and asphalt in Eastern Asia?

The country with the largest volume of natural bitumen and asphalt consumption was South Korea, accounting for 62% of total volume. Moreover, natural bitumen and asphalt consumption in South Korea exceeded the figures recorded by the second-largest consumer, Taiwan Chinese), twofold.

What are the largest producers of natural bitumen and asphalt in Eastern Asia?

The countries with the highest volumes of production in 2022 were South Korea and Taiwan Chinese).

What are the leading suppliers of natural bitumen and asphalt in Eastern Asia?

In value terms, China and Taiwan Chinese) were the countries with the highest levels of exports in 2022.

What are the leading importers of natural bitumen and asphalt in Eastern Asia?

In value terms, China constitutes the largest market for imported natural bitumen and asphalt in Eastern Asia.

What is the average export price for natural bitumen and asphalt in Eastern Asia?

The export price in Eastern Asia stood at $125 per ton in 2022, declining by -86.8% against the previous year.

What is the average import price for natural bitumen and asphalt in Eastern Asia?

The import price in Eastern Asia stood at $214 per ton in 2022, shrinking by -33.9% against the previous year.

This report provides an in-depth analysis of the market for natural bitumen and asphalt in Eastern Asia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 08991000 - Natural bitumen and natural asphalt, asphaltites and asphaltic rocks

Country coverage:

China
Democratic People's Republic of Korea
Hong Kong SAR
Japan
Macao SAR
South Korea
Taiwan (Chinese)

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Production in Eastern Asia, split by region and country
Trade (exports and imports) in Eastern Asia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

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This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. CONSUMPTION BY COUNTRY
3. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- China
- Hong Kong SAR
- Macao SAR
- Japan
- South Korea
- Taiwan (Chinese)
- Democratic People's Republic of Korea
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023