Saudi Arabia: Non-Rolled Bitumen Products Market 2024

Non-Rolled Bitumen Products Market Size in Saudi Arabia

The Saudi non-rolled bitumen products market rose modestly to $X in 2022, surging by 4.9% against the previous year. Over the period under review, consumption showed perceptible growth. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Non-Rolled Bitumen Products Production in Saudi Arabia

In value terms, non-rolled bitumen products production rose sharply to $X in 2022 estimated in export price. Overall, the total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +3.7% 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 -6.1% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of 40% against the previous year. Non-rolled bitumen products production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Non-Rolled Bitumen Products Exports

Exports from Saudi Arabia

In 2022, after two years of decline, there was significant growth in shipments abroad of non-rolled bitumen products, when their volume increased by 33% to X tons. Over the period under review, exports, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2015 with an increase of 77% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, non-rolled bitumen products exports soared to $X in 2022. In general, exports, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 when exports increased by 60%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for non-rolled bitumen products exports from Saudi Arabia, accounting for a 72% share of total exports. Moreover, non-rolled bitumen products exports to the United Arab Emirates exceeded the volume sent to the second major destination, Kuwait (X tons), sixfold. Oman (X tons) ranked third in terms of total exports with a 9.6% share.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates totaled -8.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (-0.9% per year) and Oman (-7.0% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for non-rolled bitumen products exports from Saudi Arabia, comprising 65% of total exports. The second position in the ranking was taken by Kuwait ($X), with a 17% share of total exports. It was followed by Oman, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates stood at -11.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+1.6% per year) and Oman (-7.0% per year).

Export Prices by Country

The average non-rolled bitumen products export price stood at $X per ton in 2022, dropping by -12.8% against the previous year. Over the period under review, the export price showed a noticeable decline. The pace of growth appeared the most rapid in 2021 when the average export price increased by 26% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 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 countries with the highest prices were Kuwait ($X per ton) and Oman ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) and Bahrain ($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 Kuwait (+2.5%), while the prices for the other major destinations experienced a decline.

Non-Rolled Bitumen Products Imports

Imports into Saudi Arabia

In 2017, supplies from abroad of non-rolled bitumen products decreased by 0% to X tons for the first time since 2014, thus ending a two-year declining trend. Over the period under review, imports saw a abrupt setback. The growth pace was the most rapid in 2014 when imports increased by 121% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2017, the growth of imports failed to regain momentum.

In value terms, non-rolled bitumen products imports stood at $X in 2017. Overall, imports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2014 when imports increased by 39% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2017, the growth of imports failed to regain momentum.

Imports by Country

In 2017, the United Arab Emirates (X tons) was the main non-rolled bitumen products supplier to Saudi Arabia, with a approx. 99% share of total imports.

From 2012 to 2017, the average annual growth rate of volume from the United Arab Emirates amounted to -7.9%.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of non-rolled bitumen products to Saudi Arabia.

From 2012 to 2017, the average annual rate of growth in terms of value from the United Arab Emirates stood at +8.2%.

Import Prices by Country

The average non-rolled bitumen products import price stood at $X per ton in 2017, approximately reflecting the previous year. Over the period under review, the import price posted a strong increase. The pace of growth appeared the most rapid in 2013 when the average import price increased by 134%. As a result, import price attained the peak level of $X per ton. From 2014 to 2017, the average import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2017, the rate of growth in terms of prices for the United Arab Emirates amounted to +17.5% per year.

Source: IndexBox Platform

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