Peru: Market for Asphalt or Bitumen Articles 2024

Market Size for Asphalt or Bitumen Articles in Peru

The Peruvian asphalt or bitumen article market dropped to $X in 2022, with a decrease of -10.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a perceptible reduction. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Exports of Asphalt or Bitumen Articles

Exports from Peru

In 2022, after two years of growth, there was significant decline in overseas shipments of asphalt or bitumen articles, when their volume decreased by -23.6% to X tons. In general, exports, however, saw a resilient increase. The pace of growth appeared the most rapid in 2018 when exports increased by 1,426%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, asphalt or bitumen article exports dropped dramatically to $X in 2022. Overall, exports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2018 when exports increased by 538%. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Colombia (X tons) was the main destination for asphalt or bitumen article exports from Peru, with a 81% share of total exports. Moreover, asphalt or bitumen article exports to Colombia exceeded the volume sent to the second major destination, Chile (X kg), sevenfold. The third position in this ranking was held by Bolivia (X kg), with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Colombia totaled +101.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+17.7% per year) and Bolivia (+17.5% per year).

In value terms, Colombia ($X) remains the key foreign market for asphalt or bitumen articles exports from Peru, comprising 77% of total exports. The second position in the ranking was taken by Chile ($X), with a 15% share of total exports. It was followed by Bolivia, with a 5.9% share.

From 2012 to 2022, the average annual growth rate of value to Colombia amounted to +93.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+10.7% per year) and Bolivia (+19.6% per year).

Export Prices by Country

The average asphalt or bitumen article export price stood at $X per ton in 2022, surging by 7.6% against the previous year. Overall, the export price, however, saw a pronounced curtailment. The most prominent rate of growth was recorded in 2016 an increase of 48%. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Chile ($X per ton) and Colombia ($X per ton), while the average price for exports to Ecuador ($X per ton) and Bolivia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bolivia (+1.8%), while the prices for the other major destinations experienced a decline.

Imports of Asphalt or Bitumen Articles

Imports into Peru

In 2022, asphalt or bitumen article imports into Peru dropped to X tons, standing approx. at the previous year. Overall, imports recorded a noticeable contraction. The growth pace was the most rapid in 2013 when imports increased by 58%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, asphalt or bitumen article imports fell to $X in 2022. In general, imports showed a abrupt setback. The pace of growth appeared the most rapid in 2013 with an increase of 57% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Russia (X tons) constituted the largest supplier of asphalt or bitumen article to Peru, with a 29% share of total imports. Moreover, asphalt or bitumen article imports from Russia exceeded the figures recorded by the second-largest supplier, Ecuador (X tons), twofold. The third position in this ranking was held by Canada (X tons), with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Russia stood at +51.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Ecuador (+7.5% per year) and Canada (+3.8% per year).

In value terms, the largest asphalt or bitumen article suppliers to Peru were Russia ($X), the United States ($X) and Ecuador ($X), with a combined 52% share of total imports.

Among the main suppliers, Russia, with a CAGR of +74.2%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average asphalt or bitumen article import price stood at $X per ton in 2022, which is down by -12.3% against the previous year. Overall, the import price recorded a noticeable decline. The pace of growth was the most pronounced in 2021 when the average import price increased by 33%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+15.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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