South Africa: Market for Natural Bitumen and Asphalt 2024

Market Size for Natural Bitumen and Asphalt in South Africa

The South African natural bitumen and asphalt market skyrocketed to $X in 2021, jumping by 30% against the previous year. Overall, consumption enjoyed resilient growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Natural Bitumen and Asphalt in South Africa

In value terms, natural bitumen and asphalt production surged to $X in 2021 estimated in export price. Overall, production enjoyed a prominent expansion. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Exports of Natural Bitumen and Asphalt

Exports from South Africa

In 2021, the amount of natural bitumen and asphalt exported from South Africa skyrocketed to X tons, growing by 16% against 2020. Overall, exports, however, continue to indicate a abrupt descent. The pace of growth appeared the most rapid in 2018 with an increase of 17% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, natural bitumen and asphalt exports skyrocketed to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt downturn. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Zimbabwe (X tons), Botswana (X tons) and Lesotho (X tons) were the main destinations of natural bitumen and asphalt exports from South Africa, together accounting for 91% of total exports.

From 2012 to 2021, the biggest increases were recorded for Zimbabwe (with a CAGR of +34.2%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Zimbabwe ($X) remains the key foreign market for natural bitumen and asphalt exports from South Africa, comprising 59% of total exports. The second position in the ranking was taken by Botswana ($X), with a 29% share of total exports. It was followed by Namibia, with a 3.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Zimbabwe totaled +29.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Botswana (-4.0% per year) and Namibia (-20.0% per year).

Export Prices by Country

In 2021, the average natural bitumen and asphalt export price amounted to $X per ton, with an increase of 67% against the previous year. Over the period under review, export price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 Zimbabwe ($X per ton), while the average price for exports to Lesotho ($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 Mauritius (+15.4%), while the prices for the other major destinations experienced a decline.

Imports of Natural Bitumen and Asphalt

Imports into South Africa

In 2021, after two years of decline, there was significant growth in overseas purchases of natural bitumen and asphalt, when their volume increased by 6,810% to X tons. Overall, imports continue to indicate strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, natural bitumen and asphalt imports skyrocketed to $X in 2021. Over the period under review, imports enjoyed a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Greece (X tons) was the main supplier of natural bitumen and asphalt to South Africa, with a 97% share of total imports. It was followed by the United States (X tons), with a 0.6% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from Greece was relatively modest.

In value terms, Greece ($X) constituted the largest supplier of natural bitumen and asphalt to South Africa, comprising 94% of total imports. The second position in the ranking was held by the United States ($X), with a 1.2% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Greece was relatively modest.

Import Prices by Country

The average natural bitumen and asphalt import price stood at $X per ton in 2021, which is down by -17.9% against the previous year. In general, import price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, natural bitumen and asphalt import price decreased by -41.0% against 2019 indices. The pace of growth appeared the most rapid in 2017 when the average import price increased by 36% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 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 the United States ($X per ton), while the price for Greece amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+6.5%).

Source: IndexBox Platform

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