Central Asia: Market for Natural Bitumen and Asphalt 2024

Market Size for Natural Bitumen and Asphalt in Central Asia

After five years of decline, the Central Asian natural bitumen and asphalt market increased by X% to $X in 2023. The total consumption indicated prominent growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2017 indices. As a result, consumption reached the peak level of $X. From 2018 to 2023, the growth of the market failed to regain momentum.

Production of Natural Bitumen and Asphalt in Central Asia

In value terms, natural bitumen and asphalt production expanded to $X in 2023 estimated in export price. Over the period under review, production, however, posted a prominent expansion. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2023, production growth failed to regain momentum.

Exports of Natural Bitumen and Asphalt

Exports in Central Asia

In 2023, overseas shipments of natural bitumen and asphalt increased by X% to X tons, rising for the second year in a row after five years of decline. Over the period under review, exports saw a significant expansion. 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 skyrocketed to $X in 2023. Overall, exports showed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The biggest shipments were from Kazakhstan (X tons), together reaching X% of total export.

Kazakhstan was also the fastest-growing in terms of the natural bitumen and asphalt exports, with a CAGR of X% from 2012 to 2023. Kazakhstan (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kazakhstan ($X) also remains the largest natural bitumen and asphalt supplier in Central Asia.

In Kazakhstan, natural bitumen and asphalt exports expanded at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

In 2023, the export price in Central Asia amounted to $X per ton, growing by X% against the previous year. In general, the export price showed a resilient expansion. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. Over the period under review, the export prices hit record highs in 2023 and is expected to retain growth in the near future.

As there is only one major export destination, the average price level is determined by prices for Kazakhstan.

From 2012 to 2023, the rate of growth in terms of prices for Kazakhstan amounted to X% per year.

Imports of Natural Bitumen and Asphalt

Imports in Central Asia

In 2023, the amount of natural bitumen and asphalt imported in Central Asia contracted slightly to X tons, falling by X% compared with the previous year. Overall, imports showed a pronounced reduction. The pace of growth appeared the most rapid in 2015 with an increase of X%. The volume of import peaked at X tons in 2012; however, from 2013 to 2023, imports remained at a lower figure.

In value terms, natural bitumen and asphalt imports reached $X in 2023. Over the period under review, imports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2023, imports failed to regain momentum.

Imports by Country

Turkmenistan prevails in imports structure, recording X tons, which was approx. X% of total imports in 2023. Kyrgyzstan (X tons) ranks second in terms of the total imports with a X% share, followed by Uzbekistan (X%) and Tajikistan (X%). Kazakhstan (X tons) held a relatively small share of total imports.

Turkmenistan was also the fastest-growing in terms of the natural bitumen and asphalt imports, with a CAGR of X% from 2012 to 2023. At the same time, Tajikistan (X%) and Kyrgyzstan (X%) displayed positive paces of growth. By contrast, Uzbekistan (X%) and Kazakhstan (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Turkmenistan, Tajikistan and Kyrgyzstan increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkmenistan ($X) constitutes the largest market for imported natural bitumen and asphalt in Central Asia, comprising X% of total imports. The second position in the ranking was taken by Uzbekistan ($X), with a X% share of total imports. It was followed by Tajikistan, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Turkmenistan totaled X%. In the other countries, the average annual rates were as follows: Uzbekistan (X% per year) and Tajikistan (X% per year).

Import Prices by Country

The import price in Central Asia stood at $X per ton in 2023, growing by X% against the previous year. Over the period under review, the import price, however, recorded a pronounced decrease. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2023, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Uzbekistan ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Kyrgyzstan (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform