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Report World - Natural Bitumen and Asphalt - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Nov 1, 2024

World - Natural Bitumen and Asphalt - Market Analysis, Forecast, Size, Trends and Insights

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Overview of the Global Market for Natural Bitumen and Asphalt

Market Size for Natural Bitumen and Asphalt

After two years of decline, the global natural bitumen and asphalt market increased by 12% to $X in 2021. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the global market failed to regain momentum.

Production of Natural Bitumen and Asphalt

In value terms, natural bitumen and asphalt production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 20% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, global production growth remained at a lower figure.

Exports of Natural Bitumen and Asphalt

Exports

Global natural bitumen and asphalt exports surged to X tons in 2021, with an increase of 23% against the previous year's figure. The total export volume increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, natural bitumen and asphalt exports soared to $X in 2021. Overall, exports showed a relatively flat trend pattern. Over the period under review, the global exports reached the peak figure at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Canada (X tons) and the United States (X tons) represented the main exporters of natural bitumen and asphaltacross the globe, together resulting at near 43% of total exports. Spain (X tons) held the next position in the ranking, followed by the United Arab Emirates (X tons), Italy (X tons), Turkey (X tons) and Belgium (X tons). All these countries together held near 38% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Turkey (with a CAGR of +80.2%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest natural bitumen and asphalt supplying countries worldwide were Canada ($X), the United States ($X) and Spain ($X), with a combined 51% share of global exports. Turkey, Italy, the United Arab Emirates and Belgium lagged somewhat behind, together accounting for a further 30%.

In terms of the main exporting countries, Turkey, with a CAGR of +78.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average natural bitumen and asphalt export price amounted to $X per ton, growing by 24% against the previous year. In general, the export price, however, saw a noticeable contraction. The global export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (-0.4%), while the other global leaders experienced a decline in the export price figures.

Imports of Natural Bitumen and Asphalt

Imports

In 2021, global imports of natural bitumen and asphalt surged to X tons, rising by 31% against the previous year's figure. The total import volume increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, natural bitumen and asphalt imports soared to $X in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. Global imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

The countries with the highest levels of natural bitumen and asphalt imports in 2021 were the United States (X tons), France (X tons) and China (X tons), together recording 47% of total import. Canada (X tons) took a 7% share (based on physical terms) of total imports, which put it in second place, followed by Costa Rica (5.8%) and the Philippines (5.5%). Cambodia (X tons), Austria (X tons), Vietnam (X tons), Poland (X tons), Myanmar (X tons), Belgium (X tons) and Portugal (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Portugal (with a CAGR of +65.8%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($X), France ($X) and Canada ($X) were the countries with the highest levels of imports in 2021, together accounting for 43% of global imports. The Philippines, China, Cambodia, Vietnam, Costa Rica, Myanmar, Poland, Portugal, Austria and Belgium lagged somewhat behind, together accounting for a further 30%.

Portugal, with a CAGR of +46.5%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average natural bitumen and asphalt import price stood at $X per ton in 2021, increasing by 16% against the previous year. Overall, the import price, however, saw a pronounced contraction. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Vietnam ($X per ton), while Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The country with the largest volume of bitumen and asphalt consumption was China, comprising approx. 24% of total volume. Moreover, bitumen and asphalt consumption in China exceeded the figures recorded by the second-largest consumer, the United States, twofold. The third position in this ranking was occupied by Pakistan, with a 4.7% share.
The country with the largest volume of bitumen and asphalt production was China, accounting for 24% of total volume. Moreover, bitumen and asphalt production in China exceeded the figures recorded by the second-largest producer, the United States, twofold. Pakistan ranked third in terms of total production with a 4.7% share.
In value terms, the largest bitumen and asphalt supplying countries worldwide were Iran, Bahrain and the United States, with a combined 73% share of global exports. These countries were followed by Canada, Colombia, Malaysia, the United Arab Emirates and Belgium, which together accounted for a further 13%.
In value terms, Saudi Arabia constitutes the largest market for imported natural bitumen and natural asphalt worldwide, comprising 30% of global imports. The second position in the ranking was occupied by the United States, with a 12% share of global imports. It was followed by Egypt, with an 11% share.
In 2020, the average bitumen and asphalt export price amounted to $424 per ton, falling by -2.5% against the previous year.
The average bitumen and asphalt import price stood at $486 per ton in 2020, growing by 25% against the previous year.

This report provides an in-depth analysis of the global market for natural bitumen and asphalt. 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 08991000 - Natural bitumen and natural asphalt, asphaltites and asphaltic rocks

Country coverage:

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

  • Global market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Global production, split by region and country
  • Global trade (exports and imports)
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Company coverage:

Shell Bitumen, NuStar Energy, ExxonMobil, Marathon Oil Company, Valero Energy Corporation, Nynas AB., CEMEX S.A.B. de C.V., China Petroleum and chemical Corporation, Royal Dutch Shell, United Refining Company, Total France, Asphalt & Bitumen West Co., Raha Bitumen, Asia Bitumen, Sinopec, Nynas, GOIL Ltd, Total Energies, Gazprom Neft, Indian Oil Corporation

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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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. 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. 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. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 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. 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. 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. 7. GLOBAL PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. GLOBAL IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. GLOBAL EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • United States
    • China
    • Japan
    • Germany
    • United Kingdom
    • France
    • Brazil
    • Italy
    • Russian Federation
    • India
    • Canada
    • Australia
    • Republic of Korea
    • Spain
    • Mexico
    • Indonesia
    • Netherlands
    • Turkey
    • Saudi Arabia
    • Switzerland
    • Sweden
    • Nigeria
    • Poland
    • Belgium
    • Argentina
    • Norway
    • Austria
    • Thailand
    • United Arab Emirates
    • Colombia
    • Denmark
    • South Africa
    • Malaysia
    • Israel
    • Singapore
    • Egypt
    • Philippines
    • Finland
    • Chile
    • Ireland
    • Pakistan
    • Greece
    • Portugal
    • Kazakhstan
    • Algeria
    • Czech Republic
    • Qatar
    • Peru
    • Romania
    • Vietnam

  12. 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, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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