Report Update Nov 1, 2024

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

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

Canada: Market for Natural Bitumen and Asphalt 2024

Market Size for Natural Bitumen and Asphalt in Canada

The Canadian natural bitumen and asphalt market surged to $X in 2021, increasing by 35% against the previous year. In general, the total consumption indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Natural bitumen and asphalt consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Production of Natural Bitumen and Asphalt in Canada

In value terms, natural bitumen and asphalt production soared to $X in 2021 estimated in export price. Overall, the total production indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Natural bitumen and asphalt production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Exports of Natural Bitumen and Asphalt

Exports from Canada

In 2021, shipments abroad of natural bitumen and asphalt increased by 194% to X tons, rising for the fourth year in a row after three years of decline. Over the period under review, exports showed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, natural bitumen and asphalt exports skyrocketed to $X in 2021. Overall, exports showed a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for natural bitumen and asphalt exports from Canada, with a 82% share of total exports. Moreover, natural bitumen and asphalt exports to the United States exceeded the volume sent to the second major destination, China (X tons), fivefold.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +20.5%.

In value terms, the United States ($X) remains the key foreign market for natural bitumen and asphalt exports from Canada, comprising 79% of total exports. The second position in the ranking was taken by China ($X), with a 21% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +16.1%.

Export Prices by Country

In 2021, the average natural bitumen and asphalt export price amounted to $X per ton, with an increase of 50% against the previous year. In general, the export price, however, saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2017 when the average export price increased by 63% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to the United States totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (-2.1%).

Imports of Natural Bitumen and Asphalt

Imports into Canada

For the fourth year in a row, Canada recorded decline in purchases abroad of natural bitumen and asphalt, which decreased by -3.9% to X tons in 2021. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 39% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, natural bitumen and asphalt imports soared to $X in 2021. Over the period under review, imports showed a noticeable decline. The growth pace was the most rapid in 2014 with an increase of 54% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, the United States (X tons) was the main natural bitumen and asphalt supplier to Canada, with a approx. 100% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States was relatively modest.

In value terms, the United States ($X) constituted the largest supplier of natural bitumen and asphalt to Canada.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States stood at -4.6%.

Import Prices by Country

In 2021, the average natural bitumen and asphalt import price amounted to $X per ton, surging by 38% against the previous year. Overall, the import price, however, showed a noticeable reduction. The pace of growth appeared the most rapid in 2018 when the average import price increased by 50%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to -4.1% per year.

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, accounting for 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, accounting for 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 Canada?

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

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

In value terms, the United States remains the key foreign market for bitumen and asphalt exports from Canada, comprising 87% of total exports. The second position in the ranking was occupied by China, with a 13% share of total exports.

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

In 2020, the average bitumen and asphalt export price amounted to $272 per ton, shrinking by -20.6% against the previous year.

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

The average bitumen and asphalt import price stood at $285 per ton in 2020, which is down by -26.7% against the previous year.

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

Canada

Data coverage:

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