Turkey: Petroleum Bitumen Market 2025

Petroleum Bitumen Market Size in Turkey

The Turkish petroleum bitumen market surged to $X in 2022, growing by 36% against the previous year. Overall, consumption, however, saw a perceptible shrinkage. Petroleum bitumen consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Petroleum Bitumen Production in Turkey

In value terms, petroleum bitumen production contracted to $X in 2022 estimated in export price. Overall, production recorded a deep contraction. The most prominent rate of growth was recorded in 2017 when the production volume increased by 81% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Petroleum Bitumen Exports

Exports from Turkey

In 2022, the amount of petroleum bitumen exported from Turkey declined notably to X tons, which is down by -99.9% compared with the previous year. Over the period under review, exports showed a abrupt slump. The most prominent rate of growth was recorded in 2019 with an increase of 31,201% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then contracted remarkably in the following year.

In value terms, petroleum bitumen exports fell remarkably to $X in 2022. In general, exports faced a deep reduction. The pace of growth appeared the most rapid in 2019 with an increase of 20,712%. Over the period under review, the exports hit record highs at $X in 2021, and then shrank notably in the following year.

Exports by Country

Egypt (X tons) was the main destination for petroleum bitumen exports from Turkey, with a 23% share of total exports. Moreover, petroleum bitumen exports to Egypt exceeded the volume sent to the second major destination, the United States (X tons), twofold. Spain (X tons) ranked third in terms of total exports with a 9.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Egypt totaled +236.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+3,765.1% per year) and Spain (+60.9% per year).

In value terms, the largest markets for petroleum bitumen exported from Turkey were Egypt ($X), the United States ($X) and Spain ($X), together accounting for 42% of total exports.

In terms of the main countries of destination, the United States, with a CAGR of +2,697.5%, recorded the highest rates of growth with regard to 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, with an increase of 53% against the previous year. Over the period under review, the export price, however, continues to indicate a deep downturn. The growth pace was the most rapid in 2017 an increase of 77% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Chile ($X per ton) and Romania ($X per ton), while the average price for exports to Egypt ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+10.1%), while the prices for the other major destinations experienced mixed trend patterns.

Petroleum Bitumen Imports

Imports into Turkey

After five years of growth, purchases abroad of petroleum bitumen decreased by -92% to X tons in 2022. Overall, imports, however, recorded a temperate increase. The growth pace was the most rapid in 2021 with an increase of 304%. As a result, imports reached the peak of X tons, and then reduced dramatically in the following year.

In value terms, petroleum bitumen imports declined sharply to $X in 2022. Over the period under review, imports showed a abrupt setback. The pace of growth appeared the most rapid in 2021 when imports increased by 447% against the previous year. As a result, imports reached the peak of $X, and then shrank dramatically in the following year.

Imports by Country

In 2021, Iraq (X tons) constituted the largest petroleum bitumen supplier to Turkey, accounting for a 46% share of total imports. Moreover, petroleum bitumen imports from Iraq exceeded the figures recorded by the second-largest supplier, Italy (X tons), more than tenfold. The third position in this ranking was taken by Azerbaijan (X tons), with a 1% share.

From 2012 to 2021, the average annual growth rate of volume from Iraq amounted to +255.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+0.9% per year) and Azerbaijan (+24.4% per year).

In value terms, Iraq ($X) constituted the largest supplier of petroleum bitumen to Turkey, comprising 46% of total imports. The second position in the ranking was held by Italy ($X), with a 2.4% share of total imports. It was followed by Azerbaijan, with a 0.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Iraq totaled +236.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-4.3% per year) and Azerbaijan (+17.7% per year).

Import Prices by Country

In 2021, the average petroleum bitumen import price amounted to $X per ton, rising by 35% against the previous year. In general, the import price, however, recorded a deep slump. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Iran ($X per ton) and Greece ($X per ton), while the price for Azerbaijan ($X per ton) and Iraq ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (-4.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform