Report Update Nov 1, 2024

Libya - Natural Bitumen and Asphalt - Market Analysis, Forecast, Size, Trends and Insights

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Libya: Market for Natural Bitumen and Asphalt 2024

Market Size for Natural Bitumen and Asphalt in Libya

In 2021, the Libyan natural bitumen and asphalt market decreased by -0.9% to $X, falling for the eighth consecutive year after two years of growth. The market value increased at an average annual rate of +5.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Exports of Natural Bitumen and Asphalt

Exports from Libya

In 2021, overseas shipments of natural bitumen and asphalt decreased by -12.3% to X kg, falling for the eighth year in a row after two years of growth. In general, exports faced a sharp shrinkage. The growth pace was the most rapid in 2013 with an increase of 70% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, natural bitumen and asphalt exports fell to $X in 2021. Over the period under review, exports recorded a dramatic decline. The most prominent rate of growth was recorded in 2013 with an increase of 79% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Sudan (X tons) was the main destination for natural bitumen and asphalt exports from Libya, with a approx. 100% share of total exports.

From 2012 to 2016, the average annual rate of growth in terms of volume to Sudan was relatively modest.

From 2012 to 2016, the average annual growth rate of value to Sudan was relatively modest.

Export Prices by Country

In 2016, the average natural bitumen and asphalt export price amounted to $X per ton, increasing by 12% against the previous year. Over the last four years, it increased at an average annual rate of +7.4%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Sudan.

From 2012 to 2016, the rate of growth in terms of prices for Sudan amounted to 0.0% per year.

Imports of Natural Bitumen and Asphalt

Imports into Libya

In 2021, overseas purchases of natural bitumen and asphalt decreased by -7.3% to X tons, falling for the eighth consecutive year after two years of growth. Over the period under review, total imports indicated a mild expansion from 2012 to 2021: its volume increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -37.4% against 2013 indices. The pace of growth was the most pronounced in 2013 when imports increased by 78%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, natural bitumen and asphalt imports rose markedly to $X in 2021. Overall, total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +12.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +184.8% against 2012 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 86%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, Egypt (X tons) constituted the largest supplier of natural bitumen and asphalt to Libya, accounting for a 90% share of total imports. Moreover, natural bitumen and asphalt imports from Egypt exceeded the figures recorded by the second-largest supplier, Italy (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from Egypt amounted to +26.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-28.3% per year) and the United Arab Emirates (+5.0% per year).

In value terms, Egypt ($X) constituted the largest supplier of natural bitumen and asphalt to Libya, comprising 95% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 2% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Egypt stood at +46.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+18.9% per year) and Italy (-31.4% per year).

Import Prices by Country

The average natural bitumen and asphalt import price stood at $X per ton in 2021, rising by 14% against the previous year. Over the period under review, the import price continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2014 an increase of 43%. Over the period under review, average import prices attained the peak figure in 2021 and is likely to see gradual growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+16.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for natural bitumen and natural asphalt in the world?

China constituted the country with the largest volume of bitumen and asphalt consumption, comprising approx. 24% of total volume. Moreover, bitumen and asphalt consumption in China exceeded the figures recorded by the second-largest consumer, the United States, twofold. Pakistan ranked third in terms of total consumption with a 4.7% share.

What are the largest producers of natural bitumen and natural asphalt in the world?

China constituted the country with the largest volume of bitumen and asphalt production, comprising approx. 24% of total volume. Moreover, bitumen and asphalt production in China exceeded the figures recorded by the second-largest producer, the United States, twofold. Pakistan ranked third in terms of total production with a 4.7% share.

What are the leading suppliers of natural bitumen and natural asphalt to Libya?

In value terms, Egypt constituted the largest supplier of bitumen and asphalt to Libya, comprising 98% of total imports. The second position in the ranking was occupied by the United Arab Emirates, with a 0.8% share of total imports. It was followed by the United States, with a 0.8% share.

What is the average export price for natural bitumen and natural asphalt in Libya?

The average bitumen and asphalt export price stood at $1,027 per ton in 2016, remaining relatively unchanged against the previous year.

What is the average import price for natural bitumen and natural asphalt in Libya?

In 2020, the average bitumen and asphalt import price amounted to $4,645 per ton, growing by 41% against the previous year.

This report provides an in-depth analysis of the market for natural bitumen and asphalt in Libya. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 08991000 - Natural bitumen and natural asphalt, asphaltites and asphaltic rocks

Country coverage:

Libya

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Libya
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023