Venezuela: Non-Rolled Bitumen Products Market 2024

Non-Rolled Bitumen Products Market Size in Venezuela

The Venezuelan non-rolled bitumen products market reached $X in 2022, remaining stable against the previous year. Overall, consumption showed a pronounced contraction. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Non-Rolled Bitumen Products Production in Venezuela

In value terms, non-rolled bitumen products production amounted to $X in 2022 estimated in export price. In general, production saw a pronounced descent. The pace of growth was the most pronounced in 2016 when the production volume increased by 45% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Non-Rolled Bitumen Products Exports

Exports from Venezuela

In 2022, approx. X tons of non-rolled bitumen products were exported from Venezuela; increasing by 23% against the year before. Over the period under review, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when exports increased by 58% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, non-rolled bitumen products exports totaled $X in 2022. In general, exports, however, recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2016 when exports increased by 34%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Colombia (X tons) was the main destination for non-rolled bitumen products exports from Venezuela, accounting for a 73% share of total exports. Moreover, non-rolled bitumen products exports to Colombia exceeded the volume sent to the second major destination, Jamaica (X tons), sixfold. The Dominican Republic (X tons) ranked third in terms of total exports with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Colombia totaled +20.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jamaica (+5.9% per year) and the Dominican Republic (+3.4% per year).

In value terms, Colombia ($X) remains the key foreign market for non-rolled bitumen products exports from Venezuela, comprising 53% of total exports. The second position in the ranking was taken by Jamaica ($X), with a 20% share of total exports. It was followed by Guatemala, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Colombia totaled +29.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jamaica (+17.1% per year) and Guatemala (-6.1% per year).

Export Prices by Country

The average non-rolled bitumen products export price stood at $X per ton in 2022, dropping by -8.6% against the previous year. Over the period under review, the export price saw a pronounced downturn. The growth pace was the most rapid in 2021 an increase of 17% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the average price for exports to Colombia ($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 Jamaica (+10.6%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Rolled Bitumen Products Imports

Imports into Venezuela

After two years of decline, overseas purchases of non-rolled bitumen products increased by 156% to X tons in 2022. In general, imports, however, recorded a precipitous shrinkage. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, non-rolled bitumen products imports surged to $X in 2022. Overall, imports, however, saw a dramatic shrinkage. The pace of growth appeared the most rapid in 2014 with an increase of 181%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) was the main supplier of non-rolled bitumen products to Venezuela, with a 92% share of total imports. Moreover, non-rolled bitumen products imports from China exceeded the figures recorded by the second-largest supplier, Spain (X kg), more than tenfold. The third position in this ranking was held by the United States (X kg), with a 2.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -14.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-18.8% per year) and the United States (-17.8% per year).

In value terms, China ($X) constituted the largest supplier of non-rolled bitumen products to Venezuela, comprising 73% of total imports. The second position in the ranking was taken by the United States ($X), with a 16% share of total imports. It was followed by Spain, with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to -22.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-20.0% per year) and Spain (-26.5% per year).

Import Prices by Country

The average non-rolled bitumen products import price stood at $X per ton in 2022, reducing by -5.7% against the previous year. Overall, the import price showed a abrupt slump. The pace of growth appeared the most rapid in 2014 when the average import price increased by 57% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

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 Brazil ($X per ton), while the price for Colombia ($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 (+34.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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