Guatemala: Petroleum Bitumen Market 2025

Petroleum Bitumen Market Size in Guatemala

In 2022, the Guatemalan petroleum bitumen market increased by 14% to $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption showed a strong expansion. Petroleum bitumen consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Petroleum Bitumen Production in Guatemala

In value terms, petroleum bitumen production declined to $X in 2022 estimated in export price. In general, production posted a resilient increase. The pace of growth appeared the most rapid in 2017 when the production volume increased by 238% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Petroleum Bitumen Exports

Exports from Guatemala

In 2022, approx. X tons of petroleum bitumen were exported from Guatemala; growing by 4.6% against the previous year's figure. Over the period under review, exports recorded buoyant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 84%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, petroleum bitumen exports soared to $X in 2022. Overall, exports continue to indicate resilient growth. The pace of growth was the most pronounced in 2018 with an increase of 128% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

El Salvador (X tons), Panama (X tons) and Nicaragua (X tons) were the main destinations of petroleum bitumen exports from Guatemala, together comprising 91% of total exports.

From 2012 to 2021, the biggest increases were recorded for Panama (with a CAGR of +71.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for petroleum bitumen exported from Guatemala were El Salvador ($X), Nicaragua ($X) and Panama ($X), together accounting for 91% of total exports.

Panama, with a CAGR of +63.9%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average petroleum bitumen export price amounted to $X per ton, picking up by 9.3% against the previous year. Overall, the export price, however, recorded a perceptible decrease. The growth pace was the most rapid in 2018 when the average export price increased by 27% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Belize ($X per ton) and El Salvador ($X per ton), while the average price for exports to Panama ($X per ton) and Honduras ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Honduras (+1.4%), while the prices for the other major destinations experienced mixed trend patterns.

Petroleum Bitumen Imports

Imports into Guatemala

In 2022, supplies from abroad of petroleum bitumen increased by 62% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports posted a strong increase. The most prominent rate of growth was recorded in 2014 when imports increased by 138%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, petroleum bitumen imports surged to $X in 2022. Overall, imports posted strong growth. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

Honduras (X tons) and the United States (X tons) were the main suppliers of petroleum bitumen imports to Guatemala.

From 2012 to 2021, the biggest increases were recorded for Honduras (with a CAGR of +11.9%).

In value terms, Honduras ($X) and the United States ($X) constituted the largest petroleum bitumen suppliers to Guatemala.

In terms of the main suppliers, Honduras, with a CAGR of +9.0%, saw the highest rates of growth with regard to the value of imports, over the period under review.

Import Prices by Country

The average petroleum bitumen import price stood at $X per ton in 2021, surging by 15% against the previous year. In general, the import price, however, saw a noticeable decrease. The most prominent rate of growth was recorded in 2017 when the average import price increased by 33% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Honduras amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+0.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform