Venezuela: Market for Asphalt or Bitumen Articles 2025

Market Size for Asphalt or Bitumen Articles in Venezuela

The Venezuelan asphalt or bitumen article market contracted to $X in 2022, approximately reflecting the previous year. In general, consumption recorded a pronounced contraction. Asphalt or bitumen article consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Asphalt or Bitumen Articles in Venezuela

In value terms, asphalt or bitumen article production shrank to $X in 2022 estimated in export price. Over the period under review, production saw a abrupt setback. The pace of growth appeared the most rapid in 2018 when the production volume increased by 16% against the previous year. Asphalt or bitumen article production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Asphalt or Bitumen Articles

Exports from Venezuela

In 2022, the amount of asphalt or bitumen articles exported from Venezuela fell to X tons, waning by -11.4% on 2021 figures. Over the period under review, exports recorded a mild curtailment. The growth pace was the most rapid in 2017 when exports increased by 48% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, asphalt or bitumen article exports reduced sharply to $X in 2022. Overall, exports saw a abrupt decline. The pace of growth appeared the most rapid in 2021 with an increase of 44% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Colombia (X tons), the United States (X tons) and Mexico (X tons) were the main destinations of asphalt or bitumen article exports from Venezuela, together accounting for 91% of total exports. The Dominican Republic and Jamaica lagged somewhat behind, together accounting for a further 4.6%.

From 2012 to 2022, the biggest increases were recorded for Jamaica (with a CAGR of +8.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for asphalt or bitumen article exported from Venezuela were the United States ($X), Colombia ($X) and Mexico ($X), with a combined 85% share of total exports. The Dominican Republic and Jamaica lagged somewhat behind, together accounting for a further 7.6%.

The Dominican Republic, with a CAGR of +10.6%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average asphalt or bitumen article export price amounted to $X per ton, reducing by -4.3% against the previous year. In general, the export price showed a abrupt curtailment. The pace of growth appeared the most rapid in 2021 when the average export price increased by 11% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Dominican Republic ($X per ton), while the average price for exports to Colombia ($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 the Dominican Republic (+7.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Asphalt or Bitumen Articles

Imports into Venezuela

In 2022, approx. X tons of asphalt or bitumen articles were imported into Venezuela; which is down by -18.6% against the previous year's figure. Over the period under review, imports recorded a abrupt setback. The pace of growth appeared the most rapid in 2014 with an increase of 418% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, asphalt or bitumen article imports dropped markedly to $X in 2022. Overall, imports saw a abrupt slump. The pace of growth appeared the most rapid in 2014 when imports increased by 426%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Italy (X tons), China (X tons) and Spain (X tons) were the main suppliers of asphalt or bitumen article imports to Venezuela, with a combined 90% share of total imports. The United States and Turkey lagged somewhat behind, together comprising a further 7.9%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +43.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), China ($X) and the United States ($X) constituted the largest asphalt or bitumen article suppliers to Venezuela, together comprising 91% of total imports.

China, with a CAGR of +19.4%, 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

In 2022, the average asphalt or bitumen article import price amounted to $X per ton, flattening at the previous year. In general, the import price showed a mild contraction. The most prominent rate of growth was recorded in 2013 an increase of 37%. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Italy ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+4.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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