Colombia: Rolled Bitumen Articles Market 2024

Rolled Bitumen Articles Market Size in Colombia

The Colombian rolled bitumen articles market reduced slightly to $X in 2021, approximately mirroring the previous year. The market value increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Rolled bitumen articles consumption peaked at $X in 2020, and then dropped modestly in the following year.

Rolled Bitumen Articles Production in Colombia

In value terms, rolled bitumen articles production fell to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 when the production volume increased by 15% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then reduced modestly in the following year.

Rolled Bitumen Articles Exports

Exports from Colombia

In 2021, shipments abroad of articles of bitumen in rolls increased by 11% to X square meters, rising for the second consecutive year after two years of decline. Overall, exports saw a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 171%. Over the period under review, the exports hit record highs at X square meters in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, rolled bitumen articles exports soared to $X in 2021. In general, exports posted a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 133%. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X square meters) was the main destination for rolled bitumen articles exports from Colombia, with a 79% share of total exports. Moreover, rolled bitumen articles exports to the United States exceeded the volume sent to the second major destination, Panama (X square meters), more than tenfold. The third position in this ranking was taken by Aruba (X square meters), with a 4.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +38.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+25.3% per year) and Aruba (+52.0% per year).

In value terms, the United States ($X) remains the key foreign market for articles of bitumen in rolls exports from Colombia, comprising 74% of total exports. The second position in the ranking was taken by Panama ($X), with a 10% share of total exports. It was followed by Aruba, with a 3% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +39.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+34.0% per year) and Aruba (+49.3% per year).

Export Prices by Country

In 2021, the average rolled bitumen articles export price amounted to $X per square meter, surging by 14% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The export price peaked at $X per square meter in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Panama ($X per square meter), while the average price for exports to Peru ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Panama (+6.9%), while the prices for the other major destinations experienced more modest paces of growth.

Rolled Bitumen Articles Imports

Imports into Colombia

In 2021, supplies from abroad of articles of bitumen in rolls increased by 70% to X square meters, rising for the second consecutive year after two years of decline. In general, imports, however, continue to indicate a noticeable decline. Imports peaked at X square meters in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, rolled bitumen articles imports soared to $X in 2021. Over the period under review, imports, however, showed a perceptible slump. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Free Zones (X square meters), Venezuela (X square meters) and Russia (X square meters) were the main suppliers of rolled bitumen articles imports to Colombia, together comprising 78% of total imports. These countries were followed by Italy, Ecuador, Spain, Lithuania and Mexico, which together accounted for a further 19%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Lithuania (with a CAGR of +123.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest rolled bitumen articles suppliers to Colombia were Free Zones ($X), Venezuela ($X) and Italy ($X), with a combined 65% share of total imports. Ecuador, Russia, Spain, Lithuania and Mexico lagged somewhat behind, together comprising a further 29%.

Among the main suppliers, Lithuania, with a CAGR of +173.5%, 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

The average rolled bitumen articles import price stood at $X per square meter in 2021, growing by 9.7% against the previous year. Over the last nine years, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2015 when the average import price increased by 25%. As a result, import price reached the peak level of $X per square meter. From 2016 to 2021, the average import prices failed to regain momentum.

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 Ecuador ($X per square meter), while the price for Venezuela ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lithuania (+22.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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