Report Update: May 6, 2024

China - Petroleum Bitumen - Market Analysis, Forecast, Size, Trends And Insights

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Petroleum Bitumen Price in China - 2023

Petroleum Bitumen Price in China (CIF) - 2022

In 2022, the average petroleum bitumen import price amounted to $526 per ton, jumping by 30% against the previous year. Over the period under review, the import price, however, showed a perceptible descent. Over the period under review, average import prices reached the maximum at $642 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($604 per ton), while the price for the United Arab Emirates ($254 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iraq (+5.9%), while the prices for the other major suppliers experienced a decline.

Petroleum Bitumen Price in China (FOB) - 2023

The average petroleum bitumen export price stood at $674 per ton in September 2023, waning by -7.5% against the previous month. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in October 2022 when the average export price increased by 24% month-to-month. As a result, the export price attained the peak level of $886 per ton. From November 2022 to September 2023, the the average export prices remained at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was New Zealand ($820 per ton), while the average price for exports to Vietnam ($482 per ton) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (+2.1%), while the prices for the other major destinations experienced more modest paces of growth.

Petroleum Bitumen Imports in China

In 2022, purchases abroad of petroleum bitumen decreased by -8.6% to 2.9M tons, falling for the second year in a row after two years of growth. Over the period under review, imports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 11%. As a result, imports attained the peak of 4.8M tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, petroleum bitumen imports surged to $1.5B in 2022. Overall, imports saw a noticeable downturn.

Import of Petroleum Bitumen in China (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
South Korea	956	757	696	846	-4.0%
Singapore	444	470	422	515	5.1%
Iraq	0.3	40.3	45.7	53.9	464.3%
Thailand	92.6	64.2	51.0	45.1	-21.3%
Malaysia	248	194	57.5	43.4	-44.1%
United Arab Emirates	N/A	12.4	15.0	24.1	39.4%
Others	31.0	19.6	9.5	16.6	-18.8%
Total	1,773	1,557	1,296	1,543	-4.5%

Top Suppliers of Petroleum Bitumen to China in 2022:

South Korea (1624.2K tons)
Singapore (898.6K tons)
Iraq (129.2K tons)
United Arab Emirates (95.1K tons)
Thailand (75.4K tons)
Malaysia (71.9K tons)

Petroleum Bitumen Exports in China

In 2022, shipments abroad of petroleum bitumen increased by 2% to 564K tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, saw a perceptible descent.

In value terms, petroleum bitumen exports soared to $398M in 2022. Overall, total exports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +10.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +88.4% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Export of Petroleum Bitumen in China (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Malaysia	118	61.2	51.3	126	2.2%
Vietnam	49.1	67.1	74.0	111	31.2%
Australia	44.5	60.3	75.9	110	35.2%
Philippines	9.7	3.3	6.8	15.2	16.2%
Indonesia	40.1	7.9	15.3	7.8	-42.1%
Thailand	15.1	2.0	3.5	N/A	-51.9%
Others	18.8	9.6	28.8	28.2	14.5%
Total	296	212	255	398	10.4%

Top Export Markets for Petroleum Bitumen from China in 2022:

Thailand (undefinedK tons)
Malaysia (178.5K tons)
Australia (155.7K tons)
Vietnam (152.0K tons)
Philippines (20.6K tons)
Indonesia (9.5K tons)

Source: IndexBox Market Intelligence Platform

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

China

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in China
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. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. 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. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
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
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 In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023