Iran: Market for Asphalt or Bitumen Articles 2024

Market Size for Asphalt or Bitumen Articles in Iran

The Iranian asphalt or bitumen article market shrank slightly to $X in 2022, waning by -2.9% against the previous year. Overall, consumption showed a slight reduction. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Production of Asphalt or Bitumen Articles in Iran

In value terms, asphalt or bitumen article production dropped to $X in 2022 estimated in export price. In general, production continues to indicate a mild slump. The most prominent rate of growth was recorded in 2018 with an increase of 36% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Exports of Asphalt or Bitumen Articles

Exports from Iran

In 2022, overseas shipments of asphalt or bitumen articles were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports enjoyed a prominent expansion. The pace of growth was the most pronounced in 2019 when exports increased by 136%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, asphalt or bitumen article exports amounted to $X in 2022. Overall, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2019 when exports increased by 92%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Armenia (X tons) was the main destination for asphalt or bitumen article exports from Iran, with a 66% share of total exports. Moreover, asphalt or bitumen article exports to Armenia exceeded the volume sent to the second major destination, Azerbaijan (X tons), sixfold. Turkey (X tons) ranked third in terms of total exports with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Armenia stood at +21.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Azerbaijan (-0.4% per year) and Turkey (+11.2% per year).

In value terms, Armenia ($X) emerged as the key foreign market for asphalt or bitumen articles exports from Iran, comprising 60% of total exports. The second position in the ranking was held by Azerbaijan ($X), with a 9.2% share of total exports. It was followed by Kazakhstan, with a 5.5% share.

From 2012 to 2022, the average annual growth rate of value to Armenia totaled +13.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Azerbaijan (+7.8% per year) and Kazakhstan (+0.9% per year).

Export Prices by Country

In 2022, the average asphalt or bitumen article export price amounted to $X per ton, which is down by -2.4% against the previous year. In general, the export price saw a pronounced contraction. The pace of growth was the most pronounced in 2014 an increase of 24% 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 overseas markets. In 2022, amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while the average price for exports to Turkey ($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 Kazakhstan (+8.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Asphalt or Bitumen Articles

Imports into Iran

In 2022, the amount of asphalt or bitumen articles imported into Iran contracted dramatically to X tons, waning by -44.7% on the year before. Over the period under review, imports recorded a significant curtailment. The pace of growth appeared the most rapid in 2019 with an increase of 287%. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, asphalt or bitumen article imports skyrocketed to $X in 2022. Overall, imports saw a dramatic downturn. The growth pace was the most rapid in 2019 when imports increased by 376%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) was the main supplier of asphalt or bitumen article to Iran, with a 91% share of total imports. Moreover, asphalt or bitumen article imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), tenfold.

From 2012 to 2022, the average annual growth rate of volume from China stood at +26.4%.

In value terms, China ($X) constituted the largest supplier of asphalt or bitumen articles to Iran, comprising 97% of total imports. The second position in the ranking was held by Turkey ($X), with a 2.9% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China stood at +23.1%.

Import Prices by Country

The average asphalt or bitumen article import price stood at $X per ton in 2022, surging by 183% against the previous year. Over the period under review, the import price enjoyed modest growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Turkey amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+2.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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