Latin America and the Caribbean: Non-Rolled Bitumen Products Market 2024

Non-Rolled Bitumen Products Market Size in Latin America and the Caribbean

The Latin American non-rolled bitumen products market amounted to $X in 2022, approximately mirroring the previous year. The total consumption indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +2.0% 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 +54.6% against 2014 indices. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Non-Rolled Bitumen Products Production in Latin America and the Caribbean

In value terms, non-rolled bitumen products production totaled $X in 2022 estimated in export price. The total production indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +2.3% 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 -1.6% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 23% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Non-Rolled Bitumen Products Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of non-rolled bitumen products decreased by -23.4% to X tons, falling for the third year in a row after three years of growth. Over the period under review, exports saw a abrupt setback. The most prominent rate of growth was recorded in 2014 when exports increased by 43%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, non-rolled bitumen products exports declined rapidly to $X in 2022. In general, exports showed a deep contraction. The growth pace was the most rapid in 2014 with an increase of 37%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, Brazil (X tons) represented the main exporter of non-rolled bitumen products, constituting 43% of total exports. Mexico (X tons) took the second position in the ranking, distantly followed by Venezuela (X tons). All these countries together took near 45% share of total exports. Guatemala (X tons), Ecuador (X tons), Chile (X tons) and Panama (X tons) held a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of +27.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest non-rolled bitumen products supplying countries in Latin America and the Caribbean were Brazil ($X), Mexico ($X) and Venezuela ($X), with a combined 88% share of total exports. Guatemala, Chile, Ecuador and Panama lagged somewhat behind, together comprising a further 7%.

In terms of the main exporting countries, Chile, with a CAGR of +18.6%, recorded 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

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, increasing by 3.3% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2021 an increase of 57%. Over the period under review, the export prices hit record highs in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+11.4%), while the other leaders experienced mixed trends in the export price figures.

Non-Rolled Bitumen Products Imports

Imports in Latin America and the Caribbean

In 2022, non-rolled bitumen products imports in Latin America and the Caribbean contracted sharply to X tons, reducing by -15.4% against the previous year's figure. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 48% against the previous year. As a result, imports attained the peak of X tons, and then contracted significantly in the following year.

In value terms, non-rolled bitumen products imports shrank to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 33%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Chile was the main importer of non-rolled bitumen products in Latin America and the Caribbean, with the volume of imports amounting to X tons, which was approx. 47% of total imports in 2022. It was distantly followed by Mexico (X tons) and Bahamas (X tons), together mixing up a 27% share of total imports. Brazil (X tons), Colombia (X tons), Guatemala (X tons), the Dominican Republic (X tons), Costa Rica (X tons) and Peru (X tons) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to non-rolled bitumen products imports into Chile stood at +1.4%. At the same time, the Dominican Republic (+7.2%), Guatemala (+5.4%), Costa Rica (+3.8%) and Colombia (+3.6%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +7.2% from 2012-2022. Mexico experienced a relatively flat trend pattern. By contrast, Peru (-2.0%), Bahamas (-2.2%) and Brazil (-4.9%) illustrated a downward trend over the same period. Chile (+6.1 p.p.) significantly strengthened its position in terms of the total imports, while Bahamas and Brazil saw its share reduced by -2% and -2.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) constitutes the largest market for imported non-rolled bitumen products in Latin America and the Caribbean, comprising 37% of total imports. The second position in the ranking was held by Mexico ($X), with a 15% share of total imports. It was followed by Bahamas, with a 15% share.

In Chile, non-rolled bitumen products imports expanded at an average annual rate of +1.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Mexico (+0.1% per year) and Bahamas (+1.0% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, rising by 9.2% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The level of import peaked 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 destination: amid the top importers, the country with the highest price was Bahamas ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahamas (+3.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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