Looking ahead to 2020, the world's political and economic situation is full of uncertainties: the future trend of the Sino-US trade war; whether US sanctions on Venezuela and Iran are further intensified; whether the emerging economies in Asia, Africa, and Latin America can continue to grow rapidly ...
The uncertainty of the political and economic situation poses more severe challenges for the trade situation in Asia. However, the Asian bitumen trade is still bucking the trend. As a pioneer in the development of the Asian bitumen market, China's asphalt import volume still leads the Asian bitumen market. According to relevant trade statistics, from January to October 2019, China imported a total of 3.5945 million tons of asphalt from overseas, which is expected to reach 4.2 million tons by the end of this year. The importing countries mainly include South Korea, Singapore, Malaysia, Thailand and Japan. From the demand side, Indonesia, India, Vietnam, Pakistan, and Myanmar still become Asian asphalt demand countries. According to relevant data, the total apparent demand of these countries is 9 million tons. As for the asphalt market in East Asia, the reduction of SK, a major asphalt refinery in South Korea, has become a major concern.
In 2020, "changes at the supply chain side", "chain effects of IMO2020", and "demands for downstream paving" have become the three key words of attention in the asphalt market.
In the rapidly changing Asian asphalt market, Malaysia has become a shining star. According to the information in the relevant circles, Malaysia's domestic asphalt output has remained low in 2019, but related trade data has shown that Malaysia has become an asphalt exporter. Therefore, the source of Malaysia's exported asphalt has become the focus of discussion among relevant asphalt players.
Based on the background of the above statement, Enmore decided to host the 12th Asian Asphalt & Pavement Summit in Kuala Lumpur, Malaysia from April 8th to 10th. This summit will focus on the changes in the Asian asphalt market pattern in 2020, discuss and learn of downstream asphalt paving materials and technologies, build a discussion and sharing platform of asphalt business information and technology as to promote the healthy development of the asphalt industry in Asia area.