Report Update: May 6, 2024

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

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Petroleum Bitumen Price in Colombia - 2022

Petroleum Bitumen Price in Colombia (FOB) - 2022

The average petroleum bitumen export price stood at $436 per ton in 2022, increasing by 6.5% against the previous year. Overall, the export price, however, recorded a pronounced downturn. The growth pace was the most rapid in 2013 an increase of 28%. As a result, the export price reached the peak level of $809 per ton. From 2014 to 2022, the average export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($447 per ton), while the average price for exports to Mexico ($325 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+29.9%), while the prices for the other major destinations experienced a decline.

Petroleum Bitumen Price in Colombia (CIF) - 2022

The average petroleum bitumen import price stood at $510 per ton in 2022, falling by -8.7% against the previous year. Over the period under review, the import price continues to indicate a mild reduction. The pace of growth appeared the most rapid in 2021 an increase of 17%. The import price peaked at $600 per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($418 per ton), while the price for Venezuela totaled $332 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Venezuela (-3.9%).

Petroleum Bitumen Exports in Colombia

In 2022, after three years of growth, there was significant decline in shipments abroad of petroleum bitumen, when their volume decreased by -27.9% to 90K tons. Over the period under review, exports, however, saw a resilient increase. The growth pace was the most rapid in 2021 with an increase of 60%. As a result, the exports attained the peak of 125K tons, and then declined dramatically in the following year.

In value terms, petroleum bitumen exports shrank dramatically to $39M in 2022. Overall, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 86% against the previous year. As a result, the exports reached the peak of $51M, and then fell dramatically in the following year.

Export of Petroleum Bitumen in Colombia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	18.9	0.9	34.0	32.2	19.4%
Bolivia	1.2	4.8	1.3	4.3	53.0%
Mexico	N/A	0.4	N/A	2.6	155.0%
Nigeria	N/A	N/A	3.1	N/A	0%
Switzerland	N/A	20.6	10.5	N/A	-49.0%
South Africa	N/A	N/A	2.0	N/A	0%
Others	0.1	0.6	N/A	0.1	0.0%
Total	20.3	27.4	51.0	39.2	24.5%

Top Export Markets for Petroleum Bitumen from Colombia in 2022:

United States (72.2K tons)
Bolivia (9.6K tons)
Mexico (8.0K tons)

Petroleum Bitumen Imports in Colombia

In 2022, supplies from abroad of petroleum bitumen was finally on the rise to reach 64 tons after two years of decline. Overall, imports, however, continue to indicate a abrupt curtailment.

In value terms, petroleum bitumen imports reached $32K in 2022. In general, imports, however, showed a abrupt descent.

Import of Petroleum Bitumen in Colombia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Venezuela	20.5	15.6	13.9	15.7	-8.5%
United States	11.5	8.0	6.6	6.5	-17.3%
Spain	N/A	4.8	N/A	N/A	0%
South Africa	N/A	0.3	N/A	N/A	0%
Others	9.2	7.8	8.0	10.2	3.5%
Total	41.2	36.5	28.5	32.5	-7.6%

Top Suppliers of Petroleum Bitumen to Colombia in 2022:

Venezuela (47.3 tons)
United States (15.6 tons)

Source: IndexBox Market Intelligence Platform

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

Colombia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Colombia
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
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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