GCC: Non-Rolled Bitumen Products Market 2024

Non-Rolled Bitumen Products Market Size in GCC

The GCC non-rolled bitumen products market fell slightly to $X in 2022, which is down by -3.6% against the previous year. In general, consumption recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Non-Rolled Bitumen Products Production in GCC

In value terms, non-rolled bitumen products production expanded rapidly to $X in 2022 estimated in export price. The total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -6.2% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of 61%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Non-Rolled Bitumen Products Exports

Exports in GCC

In 2022, after four years of decline, there was significant growth in shipments abroad of non-rolled bitumen products, when their volume increased by 45% to X tons. Over the period under review, exports, however, recorded a perceptible decline. The most prominent rate of growth was recorded in 2013 with an increase of 238%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, non-rolled bitumen products exports skyrocketed to $X in 2022. In general, exports, however, recorded a perceptible contraction. The growth pace was the most rapid in 2013 when exports increased by 133% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) dominates exports structure, together making up 93% of total exports. It was distantly followed by Oman (X tons), mixing up a 6.6% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Oman (with a CAGR of +27.3%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest non-rolled bitumen products supplying countries in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Oman ($X), together comprising 100% of total exports.

In terms of the main exporting countries, Oman, with a CAGR of +20.2%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, approximately mirroring the previous year. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 17% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+2.1%), while the other leaders experienced a decline in the export price figures.

Non-Rolled Bitumen Products Imports

Imports in GCC

In 2022, overseas purchases of non-rolled bitumen products decreased by -21.2% to X tons, falling for the fourth consecutive year after two years of growth. Over the period under review, imports saw a abrupt decrease. The most prominent rate of growth was recorded in 2017 with an increase of 157%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, non-rolled bitumen products imports shrank slightly to $X in 2022. In general, imports recorded a abrupt slump. The most prominent rate of growth was recorded in 2017 when imports increased by 80%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates represented the key importer of non-rolled bitumen products in GCC, with the volume of imports accounting for X tons, which was near 77% of total imports in 2022. Qatar (X tons) held a 10% share (based on physical terms) of total imports, which put it in second place, followed by Oman (8.8%). Kuwait (X tons) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the non-rolled bitumen products imports, with a CAGR of +7.2% from 2012 to 2022. Oman (-4.4%), Kuwait (-5.5%) and Qatar (-17.1%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+56 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Qatar (-25.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported non-rolled bitumen products in GCC, comprising 72% of total imports. The second position in the ranking was taken by Oman ($X), with a 13% share of total imports. It was followed by Qatar, with an 8% share.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates was relatively modest. In the other countries, the average annual rates were as follows: Oman (-2.7% per year) and Qatar (-17.5% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, growing by 26% against the previous year. Overall, the import price, however, saw a mild decrease. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Kuwait ($X per ton), while Qatar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+4.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform