South Africa: Market for Asphalt or Bitumen Articles 2024

Market Size for Asphalt or Bitumen Articles in South Africa

The South African asphalt or bitumen article market contracted modestly to $X in 2022, with a decrease of -4.3% 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). The market value increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X, and then reduced modestly in the following year.

Exports of Asphalt or Bitumen Articles

Exports from South Africa

In 2022, shipments abroad of asphalt or bitumen articles increased by 7.4% to X tons, rising for the second consecutive year after three years of decline. In general, exports, however, recorded a perceptible curtailment. The growth pace was the most rapid in 2013 with an increase of 77% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, asphalt or bitumen article exports skyrocketed to $X in 2022. Over the period under review, exports recorded a slight increase. The pace of growth was the most pronounced in 2013 when exports increased by 120% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Zimbabwe (X tons), Namibia (X tons) and Botswana (X tons) were the main destinations of asphalt or bitumen article exports from South Africa, with a combined 55% share of total exports. Malawi, Zambia, Nigeria, Mozambique and Democratic Republic of the Congo lagged somewhat behind, together comprising a further 38%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Nigeria (with a CAGR of +88.0%), while the other leaders experienced more modest paces of growth.

In value terms, Namibia ($X), Nigeria ($X) and Zimbabwe ($X) appeared to be the largest markets for asphalt or bitumen article exported from South Africa worldwide, together accounting for 48% of total exports.

Nigeria, with a CAGR of +91.9%, saw the highest rates of growth with regard to 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

The average asphalt or bitumen article export price stood at $X per ton in 2022, increasing by 15% against the previous year. Overall, export price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 when the average export price increased by 39%. As a result, the export price attained the peak level of $X per ton; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Democratic Republic of the Congo ($X per ton), while the average price for exports to Botswana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Democratic Republic of the Congo (+24.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Asphalt or Bitumen Articles

Imports into South Africa

Asphalt or bitumen article imports into South Africa reduced remarkably to X tons in 2022, which is down by -24% compared with the previous year's figure. Overall, total imports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +19.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 58%. As a result, imports reached the peak of X tons, and then fell notably in the following year.

In value terms, asphalt or bitumen article imports rose sharply to $X in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 29% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Italy (X tons) was the main asphalt or bitumen article supplier to South Africa, accounting for a 92% share of total imports. It was followed by Egypt (X tons), with a 2.8% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Italy amounted to +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (-7.3% per year) and France (+11.4% per year).

In value terms, Italy ($X) constituted the largest supplier of asphalt or bitumen articles to South Africa, comprising 92% of total imports. The second position in the ranking was taken by Egypt ($X), with a 1.8% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy totaled +2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (-9.8% per year) and France (+5.6% per year).

Import Prices by Country

The average asphalt or bitumen article import price stood at $X per ton in 2022, with an increase of 42% against the previous year. In general, the import price, however, showed a slight slump. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (-1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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