Guatemala: Market for Asphalt or Bitumen Articles 2024

Market Size for Asphalt or Bitumen Articles in Guatemala

The Guatemalan asphalt or bitumen article market skyrocketed to $X in 2022, picking up by 39% 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, the total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +101.2% against 2017 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Asphalt or Bitumen Articles

Exports from Guatemala

In 2022, the amount of asphalt or bitumen articles exported from Guatemala fell sharply to X tons, waning by -55.6% on the year before. Over the period under review, exports showed a abrupt setback. The pace of growth was the most pronounced in 2021 with an increase of 166% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, asphalt or bitumen article exports declined dramatically to $X in 2022. Overall, exports recorded a abrupt setback. The pace of growth was the most pronounced in 2021 with an increase of 102%. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

El Salvador (X tons) was the main destination for asphalt or bitumen article exports from Guatemala, with a 73% share of total exports. Moreover, asphalt or bitumen article exports to El Salvador exceeded the volume sent to the second major destination, Mexico (X tons), fivefold. The third position in this ranking was taken by Honduras (X tons), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to El Salvador stood at +3.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+7.8% per year) and Honduras (-14.4% per year).

In value terms, El Salvador ($X) remains the key foreign market for asphalt or bitumen articles exports from Guatemala, comprising 72% of total exports. The second position in the ranking was taken by Honduras ($X), with a 19% share of total exports. It was followed by Mexico, with an 8.6% share.

From 2012 to 2022, the average annual growth rate of value to El Salvador was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (-14.6% per year) and Mexico (-7.8% per year).

Export Prices by Country

In 2022, the average asphalt or bitumen article export price amounted to $X per ton, reducing by -3.8% against the previous year. Overall, the export price showed a perceptible downturn. The pace of growth was the most pronounced in 2019 when the average export price increased by 84% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Nicaragua ($X per ton), while the average price for exports to Mexico ($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 Honduras (-0.2%), while the prices for the other major destinations experienced a decline.

Imports of Asphalt or Bitumen Articles

Imports into Guatemala

Asphalt or bitumen article imports into Guatemala skyrocketed to X tons in 2022, growing by 30% on 2021. Over the period under review, total imports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +92.0% against 2015 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, asphalt or bitumen article imports soared to $X in 2022. Overall, total imports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +102.1% against 2018 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 39%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

The United States (X tons), Canada (X tons) and Mexico (X tons) were the main suppliers of asphalt or bitumen article imports to Guatemala, together accounting for 96% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Canada (with a CAGR of +10.4%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) constituted the largest supplier of asphalt or bitumen articles to Guatemala, comprising 59% of total imports. The second position in the ranking was taken by Canada ($X), with a 29% share of total imports. It was followed by Mexico, with a 5.6% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +9.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+11.9% per year) and Mexico (-8.4% per year).

Import Prices by Country

In 2022, the average asphalt or bitumen article import price amounted to $X per ton, with an increase of 3.5% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by 19%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+10.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform