Ecuador: Non-Rolled Bitumen Products Market 2024

Non-Rolled Bitumen Products Market Size in Ecuador

The Ecuadorian non-rolled bitumen products market contracted notably to $X in 2022, with a decrease of -39.1% 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 saw a deep setback. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Non-Rolled Bitumen Products Exports

Exports from Ecuador

In 2022, the amount of non-rolled bitumen products exported from Ecuador skyrocketed to X tons, rising by 38% compared with the previous year. In general, exports continue to indicate noticeable growth. The most prominent rate of growth was recorded in 2017 when exports increased by 283% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, non-rolled bitumen products exports skyrocketed to $X in 2022. Over the period under review, exports, however, recorded a slight shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 321%. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Colombia (X tons) was the main destination for non-rolled bitumen products exports from Ecuador, with a 90% share of total exports. Moreover, non-rolled bitumen products exports to Colombia exceeded the volume sent to the second major destination, Panama (X tons), ninefold.

From 2012 to 2022, the average annual growth rate of volume to Colombia stood at +5.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+20.5% per year) and Peru (-14.8% per year).

In value terms, Colombia ($X) remains the key foreign market for non-rolled bitumen products exports from Ecuador, comprising 82% of total exports. The second position in the ranking was taken by Panama ($X), with a 16% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Colombia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+20.7% per year) and Peru (+6.8% per year).

Export Prices by Country

The average non-rolled bitumen products export price stood at $X per ton in 2022, waning by -4.6% against the previous year. Overall, the export price recorded a noticeable decline. The most prominent rate of growth was recorded in 2015 when the average export price increased by 23%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Peru ($X per ton), while the average price for exports to Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Peru (+25.4%), while the prices for the other major destinations experienced mixed trend patterns.

Non-Rolled Bitumen Products Imports

Imports into Ecuador

In 2022, the amount of non-rolled bitumen products imported into Ecuador shrank significantly to X tons, dropping by -25% against the previous year. Overall, imports faced a deep reduction. The most prominent rate of growth was recorded in 2021 with an increase of 100% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, non-rolled bitumen products imports contracted rapidly to $X in 2022. In general, imports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2017 when imports increased by 137% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United States (X tons), China (X tons) and Canada (X tons) were the main suppliers of non-rolled bitumen products imports to Ecuador, with a combined 88% share of total imports. Colombia, Brazil and Peru lagged somewhat behind, together accounting for a further 10%.

From 2012 to 2022, the biggest increases were recorded for Colombia (with a CAGR of +25.0%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest non-rolled bitumen products suppliers to Ecuador were the United States ($X), Colombia ($X) and China ($X), together accounting for 81% of total imports.

Colombia, with a CAGR of +35.0%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average non-rolled bitumen products import price stood at $X per ton in 2022, which is down by -4.1% against the previous year. Over the period under review, the import price, however, showed a temperate increase. The most prominent rate of growth was recorded in 2017 when the average import price increased by 52%. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, 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 Colombia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (+9.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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