Central Asia: Market for Natural Bitumen and Asphalt 2024

Market Size for Natural Bitumen and Asphalt in Central Asia

In 2021, the Central Asian natural bitumen and asphalt market decreased by -0.9% to $X, falling for the fourth consecutive year after four years of growth. Overall, consumption, however, recorded a strong expansion. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Production of Natural Bitumen and Asphalt in Central Asia

In value terms, natural bitumen and asphalt production declined slightly to $X in 2021 estimated in export price. Over the period under review, production, however, posted prominent growth. The pace of growth appeared the most rapid in 2017 with an increase of 73%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Exports of Natural Bitumen and Asphalt

Exports in Central Asia

In 2021, shipments abroad of natural bitumen and asphalt decreased by -41% to X tons, falling for the fifth consecutive year after two years of growth. Overall, exports recorded a dramatic decline. The most prominent rate of growth was recorded in 2016 with an increase of 432%. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, natural bitumen and asphalt exports shrank markedly to $X in 2021. In general, exports saw a dramatic contraction. The growth pace was the most rapid in 2015 when exports increased by 79%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Kazakhstan (X tons) was the key exporter of natural bitumen and asphalt in Central Asia, making up 100% of total export.

Kazakhstan was also the fastest-growing in terms of the natural bitumen and asphalt exports, with a CAGR of -31.5% from 2012 to 2021. Kazakhstan (+5.5 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kazakhstan ($X) also remains the largest natural bitumen and asphalt supplier in Central Asia.

From 2012 to 2021, the average annual growth rate of value in Kazakhstan stood at -29.5%.

Export Prices by Country

In 2021, the export price in Central Asia amounted to $X per ton, which is down by -1.9% against the previous year. Export price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, natural bitumen and asphalt export price increased by +136.1% against 2016 indices. The pace of growth was the most pronounced in 2017 an increase of 151% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for Kazakhstan amounted to +2.9% per year.

Imports of Natural Bitumen and Asphalt

Imports in Central Asia

In 2021, supplies from abroad of natural bitumen and asphalt decreased by -15.2% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, imports recorded a perceptible decline. The most prominent rate of growth was recorded in 2015 with an increase of 76%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, natural bitumen and asphalt imports declined notably to $X in 2021. Over the period under review, imports showed a deep reduction. The pace of growth was the most pronounced in 2019 when imports increased by 65% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Turkmenistan dominates imports structure, recording X tons, which was near 78% of total imports in 2021. It was distantly followed by Uzbekistan (X tons), Kyrgyzstan (X tons) and Tajikistan (X tons), together constituting a 19% share of total imports. Kazakhstan (X tons) held a minor share of total imports.

Turkmenistan was also the fastest-growing in terms of the natural bitumen and asphalt imports, with a CAGR of +20.2% from 2012 to 2021. At the same time, Tajikistan (+17.2%) and Kyrgyzstan (+5.4%) displayed positive paces of growth. By contrast, Kazakhstan (-6.7%) and Uzbekistan (-7.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Turkmenistan, Tajikistan and Kyrgyzstan increased by +68, +4.7 and +4.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkmenistan ($X) constitutes the largest market for imported natural bitumen and asphalt in Central Asia, comprising 86% of total imports. The second position in the ranking was held by Uzbekistan ($X), with a 5.6% share of total imports. It was followed by Tajikistan, with a 3.9% share.

From 2012 to 2021, the average annual growth rate of value in Turkmenistan totaled +9.9%. In the other countries, the average annual rates were as follows: Uzbekistan (-13.2% per year) and Tajikistan (-4.0% per year).

Import Prices by Country

In 2021, the import price in Central Asia amounted to $X per ton, which is down by -2.4% against the previous year. In general, the import price continues to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2016 an increase of 21%. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Turkmenistan ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kyrgyzstan (+4.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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