Russian Federation: Petroleum Bitumen Market 2025

Petroleum Bitumen Market Size in the Russian Federation

The Russian petroleum bitumen market shrank to $X in 2022, waning by -5.3% against the previous year. In general, consumption, however, recorded a slight downturn. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Petroleum Bitumen Production in the Russian Federation

In value terms, petroleum bitumen production shrank to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a noticeable decline. The most prominent rate of growth was recorded in 2018 with an increase of 34%. Petroleum bitumen production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Petroleum Bitumen Exports

Exports from the Russian Federation

In 2022, after two years of growth, there was significant decline in shipments abroad of petroleum bitumen, when their volume decreased by -16.3% to X tons. Over the period under review, exports saw a perceptible descent. The most prominent rate of growth was recorded in 2020 when exports increased by 94%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, petroleum bitumen exports dropped notably to $X in 2022. Overall, exports continue to indicate a deep slump. The pace of growth appeared the most rapid in 2021 when exports increased by 102%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The UK (X tons), Uzbekistan (X tons) and Norway (X tons) were the main destinations of petroleum bitumen exports from Russia, with a combined 44% share of total exports. These countries were followed by Kyrgyzstan, Finland, Sweden, Tajikistan, Mongolia, Belarus, Uruguay, Belgium and Moldova, which together accounted for a further 44%.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +1,943.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for petroleum bitumen exported from Russia were the UK ($X), Norway ($X) and Uzbekistan ($X), with a combined 44% share of total exports.

Norway, with a CAGR of +2,188.2%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average petroleum bitumen export price amounted to $X per ton, rising by 36% against the previous year. Over the period under review, the export price, however, continues to indicate a noticeable curtailment. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Norway (+36.3%), while the prices for the other major destinations experienced more modest paces of growth.

Petroleum Bitumen Imports

Imports into the Russian Federation

In 2022, imports of petroleum bitumen into Russia fell markedly to X tons, reducing by -38.8% against 2021 figures. Over the period under review, imports, however, enjoyed a buoyant increase. The pace of growth was the most pronounced in 2013 when imports increased by 578% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, petroleum bitumen imports fell markedly to $X in 2022. Overall, imports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 845%. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Belarus (X tons) was the main supplier of petroleum bitumen to Russia, accounting for a 98% share of total imports. It was followed by Finland (X tons), with a 1.7% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from Belarus amounted to +31.1%.

In value terms, Belarus ($X) constituted the largest supplier of petroleum bitumen to Russia, comprising 97% of total imports. The second position in the ranking was held by Finland ($X), with a 1.4% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Belarus amounted to +27.1%.

Import Prices by Country

In 2021, the average petroleum bitumen import price amounted to $X per ton, growing by 111% against the previous year. In general, the import price, however, saw a deep contraction. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Belarus ($X per ton), while the price for Finland totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belarus (-3.1%).

Source: IndexBox Platform