Argentina: Market for Asphalt or Bitumen Articles 2024

Market Size for Asphalt or Bitumen Articles in Argentina

The Argentinian asphalt or bitumen article market dropped slightly to $X in 2022, which is down by -2.8% against the previous year. Overall, consumption recorded a noticeable decline. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Production of Asphalt or Bitumen Articles in Argentina

In value terms, asphalt or bitumen article production dropped modestly to $X in 2022 estimated in export price. Overall, production recorded a noticeable descent. The pace of growth was the most pronounced in 2018 when the production volume increased by 18%. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Exports of Asphalt or Bitumen Articles

Exports from Argentina

For the third year in a row, Argentina recorded decline in overseas shipments of asphalt or bitumen articles, which decreased by -2.2% to X tons in 2022. Over the period under review, exports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2017 with an increase of 9.5%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, asphalt or bitumen article exports expanded rapidly to $X in 2022. Overall, exports faced a abrupt contraction. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Uruguay (X tons) was the main destination for asphalt or bitumen article exports from Argentina, with a 73% share of total exports. Moreover, asphalt or bitumen article exports to Uruguay exceeded the volume sent to the second major destination, Paraguay (X tons), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Uruguay stood at -2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (-1.9% per year) and Bolivia (+0.1% per year).

In value terms, Uruguay ($X) remains the key foreign market for asphalt or bitumen articles exports from Argentina, comprising 70% of total exports. The second position in the ranking was held by Paraguay ($X), with a 19% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Uruguay stood at -2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (-4.1% per year) and Bolivia (+0.2% per year).

Export Prices by Country

The average asphalt or bitumen article export price stood at $X per ton in 2022, jumping by 16% against the previous year. Overall, the export price, however, showed a noticeable descent. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Bolivia ($X per ton), while the average price for exports to Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bolivia (+0.1%), while the prices for the other major destinations experienced a decline.

Imports of Asphalt or Bitumen Articles

Imports into Argentina

Asphalt or bitumen article imports into Argentina contracted to X tons in 2022, reducing by -10% on 2021 figures. Over the period under review, imports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2020 when imports increased by 253% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, asphalt or bitumen article imports expanded significantly to $X in 2022. Overall, imports saw a abrupt slump. The growth pace was the most rapid in 2020 with an increase of 810%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Canada (X tons), Italy (X tons) and Brazil (X tons) were the main suppliers of asphalt or bitumen article imports to Argentina, with a combined 85% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +14.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest asphalt or bitumen article suppliers to Argentina were Canada ($X), Brazil ($X) and Italy ($X), with a combined 71% share of total imports. Turkey, the United States, China, Thailand and France lagged somewhat behind, together accounting for a further 26%.

Turkey, with a CAGR of +93.4%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average asphalt or bitumen article import price amounted to $X per ton, surging by 24% against the previous year. Over the period under review, the import price, however, showed a perceptible contraction. The pace of growth was the most pronounced in 2020 when the average import price increased by 158% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+197.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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