Report Update Nov 1, 2024

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

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Azerbaijan: Market for Natural Bitumen and Asphalt 2024

Market Size for Natural Bitumen and Asphalt in Azerbaijan

The Azerbaijani natural bitumen and asphalt market declined dramatically to $X in 2021, with a decrease of -59.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption showed a noticeable contraction. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Exports of Natural Bitumen and Asphalt

Exports from Azerbaijan

In 2021, shipments abroad of natural bitumen and asphalt decreased by -49.1% to X tons, falling for the fourth consecutive year after two years of growth. In general, exports saw a sharp reduction. The pace of growth appeared the most rapid in 2016 with an increase of 250% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, natural bitumen and asphalt exports contracted dramatically to $X in 2021. Overall, exports faced a precipitous decrease. The pace of growth was the most pronounced in 2016 with an increase of 284% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for natural bitumen and asphalt exports from Azerbaijan, accounting for a approx. 99% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the United Arab Emirates totaled -34.7%.

In value terms, the United Arab Emirates ($X) also remains the key foreign market for natural bitumen and asphalt exports from Azerbaijan.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates stood at -34.0%.

Export Prices by Country

In 2021, the average natural bitumen and asphalt export price amounted to $X per ton, approximately reflecting the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of 71%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2021, the rate of growth in terms of prices for the United Arab Emirates amounted to +1.0% per year.

Imports of Natural Bitumen and Asphalt

Imports into Azerbaijan

In 2021, imports of natural bitumen and asphalt into Azerbaijan dropped sharply to X tons, which is down by -59.3% compared with 2020 figures. Over the period under review, imports recorded a deep downturn. The most prominent rate of growth was recorded in 2017 with an increase of 39%. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, natural bitumen and asphalt imports declined rapidly to $X in 2021. Overall, imports recorded a abrupt setback. The most prominent rate of growth was recorded in 2016 with an increase of 65% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Iran (X tons) and the United States (X tons) were the main suppliers of natural bitumen and asphalt imports to Azerbaijan.

From 2012 to 2021, the biggest increases were recorded for Iran (with a CAGR of +4.1%).

In value terms, the United States ($X) constituted the largest supplier of natural bitumen and asphalt to Azerbaijan, comprising 89% of total imports. The second position in the ranking was taken by Iran ($X), with an 11% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the United States stood at -9.4%.

Import Prices by Country

In 2021, the average natural bitumen and asphalt import price amounted to $X per ton, remaining relatively unchanged against the previous year. In general, the import price recorded a mild descent. The most prominent rate of growth was recorded in 2016 when the average import price increased by 23% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Iran totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+6.1%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

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

China constituted the country with the largest volume of bitumen and asphalt consumption, comprising approx. 24% of total volume. Moreover, bitumen and asphalt consumption in China exceeded the figures recorded by the second-largest consumer, the United States, twofold. The third position in this ranking was occupied by Pakistan, with a 4.7% share.

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

China constituted the country with the largest volume of bitumen and asphalt production, comprising approx. 24% of total volume. Moreover, bitumen and asphalt production in China exceeded the figures recorded by the second-largest producer, the United States, twofold. Pakistan ranked third in terms of total production with a 4.7% share.

What are the leading suppliers of natural bitumen and natural asphalt to Azerbaijan?

In value terms, the United States constituted the largest supplier of bitumen and asphalt to Azerbaijan.

What are the leading importers of natural bitumen and natural asphalt from Azerbaijan?

In value terms, France remains the key foreign market for bitumen and asphalt exports from Azerbaijan.

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

In 2020, the average bitumen and asphalt export price amounted to $1,554 per ton, with a decrease of -7.7% against the previous year.

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

The average bitumen and asphalt import price stood at $1,887 per ton in 2020, rising by 7.6% against the previous year.

This report provides an in-depth analysis of the market for natural bitumen and asphalt in Azerbaijan. 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:

Azerbaijan

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Azerbaijan
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

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. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. 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
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
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
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 In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023