Report Update Nov 1, 2024

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

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Bangladesh: Market for Natural Bitumen and Asphalt 2024

Market Size for Natural Bitumen and Asphalt in Bangladesh

In 2021, the Bangladeshi natural bitumen and asphalt market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption recorded a significant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Natural Bitumen and Asphalt

Exports from Bangladesh

After two years of decline, shipments abroad of natural bitumen and asphalt decreased by 0% to X tons in 2018. Overall, exports recorded a precipitous slump. The smallest decline of 99.9% was in 2016. Over the period under review, the exports reached the peak figure at X tons in 2015; however, from 2016 to 2018, the exports failed to regain momentum.

In value terms, natural bitumen and asphalt exports stood at $X in 2018. Over the period under review, exports recorded a sharp contraction. The smallest decline of 99.9% was in 2016. The exports peaked at $X in 2015; however, from 2016 to 2018, the exports remained at a lower figure.

Exports by Country

Indonesia (X tons) was the main destination for natural bitumen and asphalt exports from Bangladesh, accounting for a approx. 100% share of total exports.

From 2015 to 2018, the average annual rate of growth in terms of volume to Indonesia stood at -32.5%.

From 2015 to 2018, the average annual growth rate of value to Indonesia amounted to -29.0%.

Export Prices by Country

The average natural bitumen and asphalt export price stood at $X per ton in 2018, approximately equating the previous year. In general, the export price recorded a prominent expansion. The growth pace was the most rapid in 2016 a decrease of 99.9% against the previous year. The export price peaked in 2018 and is likely to continue growth in the near future.

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

From 2015 to 2018, the rate of growth in terms of prices for Indonesia amounted to +5.1% per year.

Imports of Natural Bitumen and Asphalt

Imports into Bangladesh

In 2021, supplies from abroad of natural bitumen and asphalt increased by 28,776% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports showed significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, natural bitumen and asphalt imports soared to $X in 2021. In general, imports enjoyed a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest supplier of natural bitumen and asphalt to Bangladesh, accounting for a 56% share of total imports. It was followed by Malaysia (X tons), with a 1% share of total imports. The third position in this ranking was taken by Singapore (X tons), with a 0.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United Arab Emirates totaled +237.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+29.5% per year) and Singapore (-30.2% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of natural bitumen and asphalt to Bangladesh, comprising 94% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 2.3% share of total imports. It was followed by Singapore, with a 0.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates totaled +170.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+34.2% per year) and Singapore (-27.9% per year).

Import Prices by Country

In 2021, the average natural bitumen and asphalt import price amounted to $X per ton, shrinking by -52.4% against the previous year. Overall, the import price continues to indicate a perceptible decline. The pace of growth was the most pronounced in 2013 when the average import price increased by 163% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

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 Singapore ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+18.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

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

The country with the largest volume of bitumen and asphalt consumption was China, 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. Pakistan ranked third in terms of total consumption 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 Bangladesh?

In value terms, Singapore constituted the largest supplier of bitumen and asphalt to Bangladesh.

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

In 2018, the average bitumen and asphalt export price amounted to $404 per ton, approximately equating the previous year.

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

In 2020, the average bitumen and asphalt import price amounted to $426 per ton, picking up by 3.4% against the previous year.

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

Bangladesh

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Bangladesh
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