MERCOSUR: Non-Rolled Bitumen Products Market 2024

Non-Rolled Bitumen Products Market Size in MERCOSUR

In 2022, the MERCOSUR non-rolled bitumen products market decreased by -0.1% to $X, falling for the second consecutive year after five years of growth. The total consumption indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -0.6% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Non-Rolled Bitumen Products Production in MERCOSUR

In value terms, non-rolled bitumen products production totaled $X in 2022 estimated in export price. The total production indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.9% 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 -2.3% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 14% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Non-Rolled Bitumen Products Exports

Exports in MERCOSUR

In 2022, overseas shipments of non-rolled bitumen products increased by 25% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, exports, however, continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2014 when exports increased by 51%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, non-rolled bitumen products exports surged to $X in 2022. Overall, exports, however, recorded a abrupt contraction. The growth pace was the most rapid in 2021 with an increase of 65% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil was the key exporting country with an export of about X tons, which recorded 64% of total exports. It was distantly followed by Venezuela (X tons), mixing up a 27% share of total exports. The following exporters - Ecuador (X tons), Chile (X tons) and Argentina (X tons) - together made up 7.9% of total exports.

From 2012 to 2022, average annual rates of growth with regard to non-rolled bitumen products exports from Brazil stood at -16.2%. At the same time, Chile (+27.7%) and Ecuador (+3.2%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +27.7% from 2012-2022. Venezuela experienced a relatively flat trend pattern. By contrast, Argentina (-26.6%) illustrated a downward trend over the same period. Venezuela (+21 p.p.), Chile (+2.8 p.p.) and Ecuador (+2.4 p.p.) significantly strengthened its position in terms of the total exports, while Argentina and Brazil saw its share reduced by -8.5% and -19% from 2012 to 2022, respectively.

In value terms, Brazil ($X) remains the largest non-rolled bitumen products supplier in MERCOSUR, comprising 73% of total exports. The second position in the ranking was taken by Venezuela ($X), with a 17% share of total exports. It was followed by Argentina, with a 2.6% share.

From 2012 to 2022, the average annual growth rate of value in Brazil stood at -13.9%. In the other countries, the average annual rates were as follows: Venezuela (-3.6% per year) and Argentina (-26.1% per year).

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2022, increasing by 8.5% against the previous year. Over the period under review, the export price showed a slight expansion. The most prominent rate of growth was recorded in 2021 an increase of 17%. Over the period under review, the export prices hit record highs in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Argentina ($X per ton), while Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+2.7%), while the other leaders experienced mixed trends in the export price figures.

Non-Rolled Bitumen Products Imports

Imports in MERCOSUR

Non-rolled bitumen products imports fell rapidly to X tons in 2022, reducing by -24.6% against the previous year. In general, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 67% against the previous year. As a result, imports attained the peak of X tons, and then contracted dramatically in the following year.

In value terms, non-rolled bitumen products imports declined sharply to $X in 2022. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 69% against the previous year. As a result, imports attained the peak of $X, and then dropped remarkably in the following year.

Imports by Country

Chile prevails in imports structure, accounting for X tons, which was near 79% of total imports in 2022. It was distantly followed by Brazil (X tons) and Colombia (X tons), together making up a 14% share of total imports. Peru (X tons) and Argentina (X tons) held a relatively small share of total imports.

Imports into Chile increased at an average annual rate of +1.4% from 2012 to 2022. At the same time, Colombia (+3.6%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +3.6% from 2012-2022. By contrast, Argentina (-1.5%), Peru (-2.0%) and Brazil (-4.9%) illustrated a downward trend over the same period. While the share of Chile (+7.2 p.p.) and Colombia (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Brazil (-5.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) constitutes the largest market for imported non-rolled bitumen products in MERCOSUR, comprising 70% of total imports. The second position in the ranking was taken by Brazil ($X), with a 9.4% share of total imports. It was followed by Colombia, with a 9% share.

In Chile, non-rolled bitumen products imports expanded at an average annual rate of +1.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (-5.4% per year) and Colombia (+1.5% per year).

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2022, growing by 5.5% against the previous year. In general, the import price, however, showed a slight reduction. The growth pace was the most rapid in 2013 when the import price increased by 7.5%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Peru ($X per ton), while Chile ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (-0.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform