Turkey - Natural Bitumen And Natural Asphalt - Market Analysis, Forecast, Size, Trends And Insights
Turkey's Bitumen and Asphalt Price Slumps 17%, Averaging $771 per Ton
Turkey Bitumen And Asphalt Import Price in September 2022
In September 2022, the bitumen and asphalt price amounted to $771 per ton (CIF, Turkey), waning by -17.1% against the previous month. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in March 2022 an increase of 92% against the previous month. As a result, import price attained the peak level of $2,405 per ton. From April 2022 to September 2022, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In September 2022, the country with the highest price was the United States ($2,206 per ton), while the price for Iran stood at $474 per ton.
From January 2022 to September 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Turkey Bitumen And Asphalt Imports
In September 2022, purchases abroad of natural bitumen and natural asphalt decreased by -43.8% to 58 tons, falling for the second month in a row after three months of growth. In general, imports saw a abrupt decrease. The pace of growth appeared the most rapid in July 2022 with an increase of 94% month-to-month. Imports peaked at 133 tons in January 2022; afterwards, it flattened through to September 2022.
In value terms, bitumen and asphalt imports contracted remarkably to $45K (IndexBox estimates) in September 2022. Overall, imports recorded a deep setback. The most prominent rate of growth was recorded in June 2022 with an increase of 42% m-o-m. Over the period under review, imports reached the maximum at 100 tons in January 2022; however, from February 2022 to September 2022, imports remained at a lower figure.
Turkey Bitumen And Asphalt Imports by Country
In September 2022, Iran (48 tons) constituted the largest supplier of bitumen and asphalt to Turkey, accounting for a 83% share of total imports. Moreover, bitumen and asphalt imports from Iran exceeded the figures recorded by the second-largest supplier, the United States (9.9 tons), fivefold.
From January 2022 to September 2022, the average monthly rate of growth in terms of volume from Iran totaled -8.7%.
In value terms, Iran ($23K) and the United States ($22K) were the largest bitumen and asphalt suppliers to Turkey.
Iran, with a CAGR of -8.2%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review.
This report provides an in-depth analysis of the bitumen and asphalt market in Turkey. 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.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
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The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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