Report Update Nov 1, 2024

Sri Lanka - Asphalt or Bitumen Articles - Market Analysis, Forecast, Size, Trends and Insights

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Sri Lanka: Market for Asphalt or Bitumen Articles 2024

Market Size for Asphalt or Bitumen Articles in Sri Lanka

In 2022, the Sri Lankan asphalt or bitumen article market decreased by -18.2% to $X, falling for the second year in a row after two years of growth. In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Exports of Asphalt or Bitumen Articles

Exports from Sri Lanka

In 2022, overseas shipments of asphalt or bitumen articles decreased by -54.3% to X tons, falling for the second consecutive year after two years of growth. Overall, exports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2014 when exports increased by 514%. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, asphalt or bitumen article exports shrank remarkably to $X in 2022. Over the period under review, exports, however, enjoyed a strong increase. The growth pace was the most rapid in 2014 with an increase of 403%. Over the period under review, the exports reached the peak figure at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Maldives (X tons) was the main destination for asphalt or bitumen article exports from Sri Lanka, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Maldives totaled +17.0%.

In value terms, Maldives ($X) also remains the key foreign market for asphalt or bitumen articles exports from Sri Lanka.

From 2012 to 2022, the average annual growth rate of value to Maldives amounted to +28.1%.

Export Prices by Country

The average asphalt or bitumen article export price stood at $X per ton in 2022, shrinking by -7.7% against the previous year. Overall, the export price, however, enjoyed modest growth. The pace of growth appeared the most rapid in 2020 when the average export price increased by 56% against the previous year. The export price peaked at $X per ton in 2021, and then dropped in the following year.

As there is only one major export destination, the average price level is determined by prices for Maldives.

From 2012 to 2022, the rate of growth in terms of prices for Maldives amounted to +9.5% per year.

Imports of Asphalt or Bitumen Articles

Imports into Sri Lanka

In 2022, purchases abroad of asphalt or bitumen articles decreased by -37.2% to X tons, falling for the second year in a row after two years of growth. Overall, imports recorded a abrupt shrinkage. The growth pace was the most rapid in 2019 with an increase of 30% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, asphalt or bitumen article imports declined to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when imports increased by 38%. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Saudi Arabia (X tons), Egypt (X tons) and China (X tons) were the main suppliers of asphalt or bitumen article imports to Sri Lanka, together comprising 78% of total imports. The United Arab Emirates, Japan and Italy lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +39.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest asphalt or bitumen article suppliers to Sri Lanka were Japan ($X), China ($X) and Egypt ($X), together accounting for 66% of total imports.

Japan, with a CAGR of +49.3%, recorded the highest growth rate of the value of imports, among 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 asphalt or bitumen article import price stood at $X per ton in 2022, jumping by 37% against the previous year. Over the period under review, import price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, asphalt or bitumen article import price increased by +64.4% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+11.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for asphalt or bitumen articles in the world?

The countries with the highest volumes of in 2021 were the United States, China and Russia, together accounting for 67% of global consumption. These countries were followed by Brazil, Germany, Italy, Iran, Turkey and Mexico, which together accounted for a further 14%.

What are the largest producers of asphalt or bitumen articles in the world?

The countries with the highest volumes of in 2021 were the United States, China and Russia, together accounting for 69% of global production. Brazil, Italy, Germany, Iran, Turkey, Mexico and Egypt lagged somewhat behind, together accounting for a further 17%.

What are the leading suppliers of asphalt or bitumen articles to Sri Lanka?

In value terms, the largest asphalt or bitumen article suppliers to Sri Lanka were Saudi Arabia, China and Egypt, with a combined 65% share of total imports. These countries were followed by Singapore, Russia and Bahrain, which together accounted for a further 14%.

What are the leading importers of asphalt or bitumen articles from Sri Lanka?

In value terms, Maldives remains the key foreign market for asphalt or bitumen article exports from Sri Lanka.

What is the average export price for asphalt or bitumen articles in Sri Lanka?

The average asphalt or bitumen article export price stood at $807 per ton in 2021, reducing by -23.6% against the previous year.

What is the average import price for asphalt or bitumen articles in Sri Lanka?

In 2021, the average asphalt or bitumen article import price amounted to $664 per ton, leveling off at the previous year.

This report provides an in-depth analysis of the market for asphalt or bitumen article in Sri Lanka. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 23991255 - Articles of asphalt or of similar materials, e.g. petroleum bitumen or coal tar pitch, in rolls
Prodcom 23991290 - Products based on bitumen (excluding in rolls)

Country coverage:

Sri Lanka

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Sri Lanka
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023