South-Eastern Asia: Market for Natural Bitumen and Asphalt 2024

Market Size for Natural Bitumen and Asphalt in South-Eastern Asia

The Southeast Asian natural bitumen and asphalt market expanded rapidly to $X in 2022, picking up by X% against the previous year. The total consumption 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, consumption decreased by X% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Production of Natural Bitumen and Asphalt in South-Eastern Asia

In value terms, natural bitumen and asphalt production shrank slightly to $X in 2022 estimated in export price. The total production indicated temperate 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, production decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

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Exports of Natural Bitumen and Asphalt

Exports in South-Eastern Asia

In 2022, the amount of natural bitumen and asphalt exported in South-Eastern Asia skyrocketed to X tons, jumping by X% compared with the previous year. Overall, exports, however, recorded a deep slump. The pace of growth appeared the most rapid in 2020 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, natural bitumen and asphalt exports shrank remarkably to $X in 2022. Over the period under review, exports, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Indonesia was the main exporter of natural bitumen and asphalt in South-Eastern Asia, with the volume of exports reaching X tons, which was approx. X% of total exports in 2022. It was distantly followed by Malaysia (X tons), making up a X% share of total exports. Singapore (X tons) followed a long way behind the leaders.

Exports from Indonesia decreased at an average annual rate of X% from 2012 to 2022. Malaysia experienced a relatively flat trend pattern. Singapore (X%) illustrated a downward trend over the same period. While the share of Malaysia (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Indonesia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) remains the largest natural bitumen and asphalt supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total exports.

In Malaysia, natural bitumen and asphalt exports declined by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Indonesia (X% per year) and Singapore (X% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, waning by X% against the previous year. Over the period under review, the export price, however, showed a prominent expansion. The pace of growth appeared the most rapid in 2017 an increase of X%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Indonesia ($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 South-Eastern Asia

In 2022, the amount of natural bitumen and asphalt imported in South-Eastern Asia shrank to X tons, with a decrease of X% on 2021 figures. Over the period under review, imports saw a mild shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, natural bitumen and asphalt imports surged to $X in 2022. In general, imports saw a slight curtailment. The pace of growth was the most pronounced in 2019 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The Philippines was the main importing country with an import of around X tons, which accounted for X% of total imports. Vietnam (X tons) ranks second in terms of the total imports with a X% share, followed by Cambodia (X%) and Myanmar (X%). The following importers - Malaysia (X tons) and Lao People's Democratic Republic (X tons) - together made up X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Malaysia (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 South-Eastern Asia were the Philippines ($X), Vietnam ($X) and Cambodia ($X), with a combined X% share of total imports. Myanmar, Malaysia and Lao People's Democratic Republic lagged somewhat behind, together comprising a further X%.

Malaysia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among 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

In 2022, the import price in South-Eastern Asia amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. 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.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Lao People's Democratic Republic ($X per ton) and Vietnam ($X per ton), while Myanmar ($X per ton) and Cambodia ($X per ton) were amongst the lowest.

From 2012 to 2022, 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.

Source: IndexBox Platform

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