Report Update Jan 1, 2025

World - Petroleum Bitumen - Market Analysis, Forecast, Size, Trends and Insights

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Global Petroleum Bitumen Market 2025

Petroleum Bitumen Market Size

The global petroleum bitumen market shrank to $X in 2022, falling by -6.1% against the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the global market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Petroleum Bitumen Production

In value terms, petroleum bitumen production shrank to $X in 2022 estimated in export price. In general, production recorded a noticeable setback. The growth pace was the most rapid in 2017 with an increase of 35%. Over the period under review, global production attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Petroleum Bitumen Exports

Exports

In 2022, after two years of growth, there was significant decline in shipments abroad of petroleum bitumen, when their volume decreased by -6.7% to X tons. The total export volume increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 with an increase of 23%. The global exports peaked at X tons in 2021, and then shrank in the following year.

In value terms, petroleum bitumen exports rose slightly to $X in 2022. Overall, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 42% against the previous year. Over the period under review, the global exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The biggest shipments were from Canada (X tons), Singapore (X tons), Iran (X tons) and South Korea (X tons), together amounting to 43% of total export. It was followed by Germany (X tons) and the United Arab Emirates (X tons), together comprising a 12% share of total exports. Greece (X tons), Italy (X tons), Spain (X tons), Malaysia (X tons), the Netherlands (X tons), Belarus (X tons) and the United States (X tons) held a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Greece (with a CAGR of +21.2%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest petroleum bitumen supplying countries worldwide were Singapore ($X), Canada ($X) and South Korea ($X), together accounting for 36% of global exports. Germany, Italy, Spain, Greece, the United Arab Emirates, the Netherlands, Malaysia, the United States, Belarus and Iran lagged somewhat behind, together accounting for a further 39%.

Among the main exporting countries, Greece, with a CAGR of +18.7%, saw the highest growth rate of 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

The average petroleum bitumen export price stood at $X per ton in 2022, picking up by 12% against the previous year. Overall, the export price, however, continues to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2021 when the average export price increased by 36% against the previous year. The global export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+1.4%), while the other global leaders experienced a decline in the export price figures.

Petroleum Bitumen Imports

Imports

After two years of growth, supplies from abroad of petroleum bitumen decreased by -20.8% to X tons in 2022. Overall, total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +63.9% against 2012 indices. The pace of growth was the most pronounced in 2021 with an increase of 35%. As a result, imports reached the peak of X tons, and then declined remarkably in the following year.

In value terms, petroleum bitumen imports rose rapidly to $X in 2022. Over the period under review, total imports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +64.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 48%. Global imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, the United States (X tons), distantly followed by China (X tons), India (X tons) and Australia (X tons) represented the major importers of petroleum bitumen, together achieving 41% of total imports. The following importers - Ukraine (X tons), France (X tons), Algeria (X tons), the UK (X tons), Belgium (X tons), Vietnam (X tons), Indonesia (X tons), Malaysia (X tons) and Romania (X tons) - together made up 26% of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +38.8%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest petroleum bitumen importing markets worldwide were the United States ($X), China ($X) and India ($X), with a combined 39% share of global imports.

India, with a CAGR of +37.7%, recorded the highest growth rate of 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

In 2022, the average petroleum bitumen import price amounted to $X per ton, growing by 41% against the previous year. Overall, the import price, however, recorded a perceptible downturn. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Romania ($X per ton), while Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+0.1%), while the other global leaders experienced a decline in the import price figures.

Source: IndexBox Platform

This report provides an in-depth analysis of the global petroleum bitumen market. 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:

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

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. CONSUMPTION BY COUNTRY
3. 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. GLOBAL PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2024
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
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
LIST OF TABLES
1. Key Findings In 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption, By Country, 2018–2024
5. Production, In Physical Terms, By Country, 2012–2024
6. Imports, In Physical Terms, By Country, 2012–2024
7. Imports, In Value Terms, By Country, 2012–2024
8. Import Prices, By Country Of Destination, 2012–2024
9. Exports, In Physical Terms, By Country, 2012–2024
10. Exports, In Value Terms, By Country, 2012–2024
11. Export Prices, By Country Of Origin, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Consumption, By Country, 2024
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, 2012–2024
18. Production, In Value Terms, 2012–2024
19. Production, By Country, 2024
20. Production, In Physical Terms, By Country, 2012–2024
21. Imports, In Physical Terms, 2012–2024
22. Imports, In Value Terms, 2012–2024
23. Imports, In Physical Terms, By Country, 2024
24. Imports, In Physical Terms, By Country, 2012–2024
25. Imports, In Value Terms, By Country, 2012–2024
26. Import Prices, By Country, 2012–2024
27. Exports, In Physical Terms, 2012–2024
28. Exports, In Value Terms, 2012–2024
29. Exports, In Physical Terms, By Country, 2024
30. Exports, In Physical Terms, By Country, 2012–2024
31. Exports, In Value Terms, By Country, 2012–2024
32. Export Prices, 2012–2024