Cameroon: Petroleum Bitumen Market 2025

Petroleum Bitumen Market Size in Cameroon

The Cameroonian petroleum bitumen market skyrocketed to $X in 2022, picking up by 22% 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). Over the period under review, consumption showed mild growth. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Petroleum Bitumen Exports

Exports from Cameroon

After three years of growth, shipments abroad of petroleum bitumen decreased by -0.2% to X tons in 2022. In general, exports, however, showed prominent growth. The pace of growth was the most pronounced in 2016 with an increase of 253%. The exports peaked at X tons in 2021, and then dropped modestly in the following year.

In value terms, petroleum bitumen exports declined modestly to $X in 2022. Over the period under review, exports, however, enjoyed a strong increase. The growth pace was the most rapid in 2015 when exports increased by 214% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then shrank modestly in the following year.

Exports by Country

Central African Republic (X tons) was the main destination for petroleum bitumen exports from Cameroon, with a 74% share of total exports. Moreover, petroleum bitumen exports to Central African Republic exceeded the volume sent to the second major destination, Chad (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Central African Republic amounted to +51.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chad (-5.9% per year) and Equatorial Guinea (-1.7% per year).

In value terms, Central African Republic ($X) remains the key foreign market for petroleum bitumen exports from Cameroon, comprising 49% of total exports. The second position in the ranking was taken by Chad ($X), with a 21% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Central African Republic stood at +58.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chad (+14.7% per year) and Equatorial Guinea (+27.4% per year).

Export Prices by Country

In 2021, the average petroleum bitumen export price amounted to $X per ton, leveling off at the previous year. Over the period under review, export price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, petroleum bitumen export price decreased by -17.9% against 2018 indices. The most prominent rate of growth was recorded in 2015 when the average export price increased by 112% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Chad ($X per ton), while the average price for exports to Central African Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Congo (+223.4%), while the prices for the other major destinations experienced more modest paces of growth.

Petroleum Bitumen Imports

Imports into Cameroon

In 2022, the amount of petroleum bitumen imported into Cameroon skyrocketed to X tons, increasing by 26% compared with the previous year. Overall, imports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2020 with an increase of 126%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, petroleum bitumen imports soared to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 98% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Iran (X tons), Spain (X tons) and Cote d'Ivoire (X tons) were the main suppliers of petroleum bitumen imports to Cameroon, together accounting for 58% of total imports. The United Arab Emirates, Brazil, Turkey, Switzerland, China, Hungary and Italy lagged somewhat behind, together accounting for a further 44%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Switzerland (with a CAGR of +31.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Iran ($X) and Cote d'Ivoire ($X) were the largest petroleum bitumen suppliers to Cameroon, together accounting for 56% of total imports. These countries were followed by Brazil, the United Arab Emirates, Switzerland, China, Turkey, Italy and Hungary, which together accounted for a further 36%.

In terms of the main suppliers, Brazil, with a CAGR of +21.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average petroleum bitumen import price amounted to $X per ton, rising by 9.1% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt slump. The pace of growth appeared the most rapid in 2017 an increase of 23%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+2.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform