Africa: Market for Natural Bitumen and Asphalt 2024

Market Size for Natural Bitumen and Asphalt in Africa

The African natural bitumen and asphalt market reached $X in 2021, increasing by 8% against the previous year. The market value increased at an average annual rate of +4.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level in 2021 and is expected to retain growth in the immediate term.

Production of Natural Bitumen and Asphalt in Africa

In value terms, natural bitumen and asphalt production expanded remarkably to $X in 2021 estimated in export price. The total production indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +58.2% against 2016 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 22% against the previous year. Over the period under review, production reached the peak level in 2021 and is likely to see steady growth in the immediate term.

Exports of Natural Bitumen and Asphalt

Exports in Africa

Natural bitumen and asphalt exports surged to X tons in 2021, jumping by 19% compared with 2020. Over the period under review, exports, however, showed a abrupt descent. The pace of growth was the most pronounced in 2015 when exports increased by 25% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, natural bitumen and asphalt exports soared to $X in 2021. In general, exports, however, showed a drastic downturn. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, South Africa (X tons) represented the largest exporter of natural bitumen and asphalt, comprising 68% of total exports. It was distantly followed by Cote d'Ivoire (X tons) and Morocco (X tons), together generating a 22% share of total exports. Swaziland (X tons) and Zambia (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to natural bitumen and asphalt exports from South Africa stood at -11.2%. At the same time, Zambia (+67.2%) and Swaziland (+18.7%) displayed positive paces of growth. Moreover, Zambia emerged as the fastest-growing exporter exported in Africa, with a CAGR of +67.2% from 2012-2021. By contrast, Cote d'Ivoire (-6.5%) and Morocco (-18.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of South Africa, Cote d'Ivoire, Swaziland and Zambia increased by +8.5, +5.9, +2.3 and +1.8 percentage points, respectively.

In value terms, South Africa ($X) remains the largest natural bitumen and asphalt supplier in Africa, comprising 65% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 15% share of total exports. It was followed by Morocco, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value in South Africa amounted to -9.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Cote d'Ivoire (-5.0% per year) and Morocco (-17.1% per year).

Export Prices by Country

In 2021, the export price in Africa amounted to $X per ton, picking up by 41% against the previous year. Export price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Zambia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Morocco (+1.9%), while the other leaders experienced more modest paces of growth.

Imports of Natural Bitumen and Asphalt

Imports in Africa

For the third year in a row, Africa recorded decline in purchases abroad of natural bitumen and asphalt, which decreased by -12.1% to X tons in 2021. In general, imports recorded a abrupt descent. The pace of growth appeared the most rapid in 2018 when imports increased by 42% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, natural bitumen and asphalt imports rose notably to $X in 2021. Overall, imports showed a abrupt decrease. The pace of growth was the most pronounced in 2018 with an increase of 50%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Ethiopia (X tons), distantly followed by Zimbabwe (X tons), South Africa (X tons), Botswana (X tons), Niger (X tons), Tanzania (X tons) and Nigeria (X tons) were the largest importers of natural bitumen and asphalt, together mixing up 70% of total imports. Mauritius (X tons), Mayotte (X tons), Algeria (X tons), Gambia (X tons), Benin (X tons) and Uganda (X tons) held a little share of total imports.

Imports into Ethiopia decreased at an average annual rate of -6.5% from 2012 to 2021. At the same time, Gambia (+43.3%), Niger (+42.6%), Zimbabwe (+31.1%), Benin (+25.7%), Algeria (+18.1%), Nigeria (+18.1%), Mayotte (+14.8%) and South Africa (+13.3%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing importer imported in Africa, with a CAGR of +43.3% from 2012-2021. Botswana experienced a relatively flat trend pattern. By contrast, Uganda (-4.0%), Tanzania (-8.3%) and Mauritius (-11.7%) illustrated a downward trend over the same period. Zimbabwe (+11 p.p.), South Africa (+7.8 p.p.), Niger (+7 p.p.), Nigeria (+3.9 p.p.), Mayotte (+3.2 p.p.), Botswana (+3.1 p.p.), Algeria (+2.6 p.p.), Gambia (+2 p.p.) and Benin (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while Tanzania, Ethiopia and Mauritius saw its share reduced by -1.7%, -3% and -3.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest natural bitumen and asphalt importing markets in Africa were Ethiopia ($X), Zimbabwe ($X) and Nigeria ($X), with a combined 48% share of total imports. South Africa, Niger, Botswana, Tanzania, Mauritius, Gambia, Uganda, Mayotte, Algeria and Benin lagged somewhat behind, together comprising a further 38%.

Gambia, with a CAGR of +41.9%, 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 2021, the import price in Africa amounted to $X per ton, surging by 21% against the previous year. In general, 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 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Nigeria ($X per ton), while Mayotte ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+9.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :