South Africa: Petroleum Bitumen Market 2025

Petroleum Bitumen Market Size in South Africa

The South African petroleum bitumen market shrank slightly to $X in 2022, almost unchanged from the previous year. In general, consumption, however, showed a perceptible slump. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Petroleum Bitumen Production in South Africa

In value terms, petroleum bitumen production reduced to $X in 2022 estimated in export price. Over the period under review, production recorded a abrupt curtailment. The pace of growth was the most pronounced in 2014 when the production volume increased by 161%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Petroleum Bitumen Exports

Exports from South Africa

In 2022, overseas shipments of petroleum bitumen decreased by -15.5% to X tons, falling for the third consecutive year after two years of growth. In general, exports showed a abrupt contraction. The most prominent rate of growth was recorded in 2013 when exports increased by 50%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, petroleum bitumen exports soared to $X in 2022. Over the period under review, exports recorded a pronounced decline. The most prominent rate of growth was recorded in 2014 when exports increased by 114% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Zambia (X tons), Zimbabwe (X tons) and France (X tons) were the main destinations of petroleum bitumen exports from South Africa, with a combined 43% share of total exports. Mozambique, Mauritius, Botswana, Guinea, Namibia, Swaziland, Democratic Republic of the Congo, Malawi and Congo lagged somewhat behind, together comprising a further 49%.

From 2012 to 2021, the biggest increases were recorded for Guinea (with a CAGR of +52.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Zambia ($X), Zimbabwe ($X) and Mozambique ($X) constituted the largest markets for petroleum bitumen exported from South Africa worldwide, together accounting for 48% of total exports. Mauritius, Guinea, Namibia, Botswana, Swaziland, France, Democratic Republic of the Congo, Malawi and Congo lagged somewhat behind, together comprising a further 46%.

Among the main countries of destination, Guinea, with a CAGR of +68.4%, recorded the highest growth rate of the value of exports, 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 52% against the previous year. Over the period under review, the export price, however, continues to indicate a slight downturn. The growth pace was the most rapid in 2014 an increase of 124%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Guinea ($X per ton), while the average price for exports to France ($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 Guinea (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.

Petroleum Bitumen Imports

Imports into South Africa

In 2022, overseas purchases of petroleum bitumen increased by 18% to X tons, rising for the third year in a row after two years of decline. Over the period under review, imports, however, showed a noticeable setback. The most prominent rate of growth was recorded in 2021 with an increase of 1,450% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, petroleum bitumen imports stood at $X in 2022. In general, imports, however, saw a abrupt decline. The pace of growth was the most pronounced in 2021 when imports increased by 1,483% against the previous year. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Colombia (X tons), Spain (X tons) and the United Arab Emirates (X tons) were the main suppliers of petroleum bitumen imports to South Africa, with a combined 95% share of total imports. The United States lagged somewhat behind, comprising a further 2.8%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +84.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest petroleum bitumen suppliers to South Africa were Colombia ($X), Spain ($X) and the United Arab Emirates ($X), together comprising 91% of total imports.

Spain, with a CAGR of +93.5%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average petroleum bitumen import price stood at $X per ton in 2021, with an increase of 2.1% against the previous year. In general, the import price, however, saw a mild descent. The growth pace was the most rapid in 2019 an increase of 141% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices failed to regain momentum.

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 ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+8.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform