Bahrain: Market for Asphalt or Bitumen Articles 2024

Market Size for Asphalt or Bitumen Articles in Bahrain

In 2022, after five years of growth, there was significant decline in the Bahraini asphalt or bitumen article market, when its value decreased by -24.4% to $X. Overall, the total consumption indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Asphalt or bitumen article consumption peaked at $X in 2021, and then dropped notably in the following year.

Production of Asphalt or Bitumen Articles in Bahrain

In value terms, asphalt or bitumen article production amounted to $X in 2022 estimated in export price. In general, production continues to indicate a resilient increase. The growth pace was the most rapid in 2019 with an increase of 12,366% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Exports of Asphalt or Bitumen Articles

Exports from Bahrain

Asphalt or bitumen article exports from Bahrain expanded sharply to X tons in 2022, increasing by 11% compared with the previous year. Over the period under review, exports, however, saw a abrupt decrease. The growth pace was the most rapid in 2013 with an increase of 41%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, asphalt or bitumen article exports surged to $X in 2022. In general, exports, however, showed a abrupt shrinkage. The pace of growth was the most pronounced in 2013 when exports increased by 37% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Oman (X tons) was the main destination for asphalt or bitumen article exports from Bahrain, with a 36% share of total exports. Moreover, asphalt or bitumen article exports to Oman exceeded the volume sent to the second major destination, Indonesia (X tons), threefold. Yemen (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Oman amounted to -8.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+5.1% per year) and Yemen (-11.7% per year).

In value terms, Oman ($X) remains the key foreign market for asphalt or bitumen articles exports from Bahrain, comprising 33% of total exports. The second position in the ranking was held by Yemen ($X), with a 15% share of total exports. It was followed by Indonesia, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to Oman stood at -11.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Yemen (-8.3% per year) and Indonesia (+4.5% per year).

Export Prices by Country

In 2022, the average asphalt or bitumen article export price amounted to $X per ton, growing by 8.3% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Iraq ($X per ton), while the average price for exports to Nigeria ($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 Iraq (+9.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Asphalt or Bitumen Articles

Imports into Bahrain

Asphalt or bitumen article imports into Bahrain shrank rapidly to X tons in 2022, which is down by -43.9% on the previous year's figure. Overall, imports saw a drastic downturn. The pace of growth appeared the most rapid in 2017 when imports increased by 75%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, asphalt or bitumen article imports shrank dramatically to $X in 2022. Over the period under review, imports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 81% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Saudi Arabia (X tons) constituted the largest asphalt or bitumen article supplier to Bahrain, with a 72% share of total imports. Moreover, asphalt or bitumen article imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), fivefold. The third position in this ranking was held by Turkey (X tons), with a 7.8% share.

From 2012 to 2022, the average annual growth rate of volume from Saudi Arabia totaled +3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-7.2% per year) and Turkey (+31.4% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of asphalt or bitumen articles to Bahrain, comprising 66% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with an 18% share of total imports. It was followed by the UK, with a 7.2% share.

From 2012 to 2022, the average annual growth rate of value from Saudi Arabia amounted to +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+5.9% per year) and the UK (-14.6% per year).

Import Prices by Country

The average asphalt or bitumen article import price stood at $X per ton in 2022, surging by 27% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.0%. The most prominent rate of growth was recorded in 2015 an increase of 29% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the near future.

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 the UK ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+14.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform