Russian Federation: Market for Natural Bitumen and Asphalt 2024

Market Size for Natural Bitumen and Asphalt in the Russian Federation

The Russian natural bitumen and asphalt market dropped slightly to $X in 2021, declining by -4.1% against the previous year. Overall, consumption, however, recorded a pronounced descent. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Production of Natural Bitumen and Asphalt in the Russian Federation

In value terms, natural bitumen and asphalt production reduced slightly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a perceptible descent. The most prominent rate of growth was recorded in 2013 with an increase of 25%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Exports of Natural Bitumen and Asphalt

Exports from the Russian Federation

In 2021, natural bitumen and asphalt exports from Russia shrank significantly to X tons, dropping by -92% on 2020. Over the period under review, exports continue to indicate a dramatic curtailment. The most prominent rate of growth was recorded in 2020 when exports increased by 618% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, natural bitumen and asphalt exports dropped significantly to $X in 2021. In general, exports saw a sharp curtailment. The growth pace was the most rapid in 2020 when exports increased by 1,399% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Uzbekistan (X tons) and Kazakhstan (X tons) were the main destinations of natural bitumen and asphalt exports from Russia.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Uzbekistan (with a CAGR of -2.9%).

In value terms, Uzbekistan ($X) emerged as the key foreign market for natural bitumen and asphalt exports from Russia, comprising 87% of total exports. The second position in the ranking was held by Kazakhstan ($X), with a 12% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Uzbekistan amounted to -1.2%.

Export Prices by Country

In 2021, the average natural bitumen and asphalt export price amounted to $X per ton, falling by -35% against the previous year. In general, the export price, however, recorded a prominent increase. The growth pace was the most rapid in 2016 when the average export price increased by 153% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Uzbekistan ($X per ton), while the average price for exports to Kazakhstan stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+51.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Natural Bitumen and Asphalt

Imports into the Russian Federation

In 2021, the amount of natural bitumen and asphalt imported into Russia reduced modestly to X tons, with a decrease of -4.2% on 2020. Overall, imports, however, saw a resilient expansion. The growth pace was the most rapid in 2020 when imports increased by 1,593% against the previous year. As a result, imports reached the peak of X tons, and then declined in the following year.

In value terms, natural bitumen and asphalt imports reduced to $X in 2021. Over the period under review, imports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 1,058% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United States (X tons), the United Arab Emirates (X tons) and Turkey (X tons) were the main suppliers of natural bitumen and asphalt imports to Russia, together accounting for 64% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +68.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of natural bitumen and asphalt to Russia, comprising 62% of total imports. The second position in the ranking was held by Argentina ($X), with an 18% share of total imports. It was followed by the United Arab Emirates, with a 9.9% share.

From 2012 to 2021, the average annual growth rate of value from the United States totaled +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+12.4% per year) and the United Arab Emirates (+22.1% per year).

Import Prices by Country

The average natural bitumen and asphalt import price stood at $X per ton in 2021, reducing by -10% against the previous year. Overall, the import price saw a abrupt curtailment. The pace of growth appeared the most rapid in 2013 when the average import price increased by 18% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Argentina ($X per ton), while the price for Belarus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+0.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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