U.S. - Petroleum Bitumen - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPetroleum Bitumen Price in the United States - 2023
Contents:
- Petroleum Bitumen Price in the United States (CIF) - 2023
- Petroleum Bitumen Price in the United States (FOB) - 2023
- Petroleum Bitumen Imports in the United States
- Petroleum Bitumen Exports in the United States
Petroleum Bitumen Price in the United States (CIF) - 2023
The average petroleum bitumen import price stood at $465 per ton in September 2023, falling by -2.5% against the previous month. Over the period under review, the import price showed a slight setback. The pace of growth appeared the most rapid in August 2023 an increase of 4.3% m-o-m. The import price peaked at $534 per ton in September 2022; however, from October 2022 to September 2023, import prices remained at a lower figure.
Average prices varied noticeably amongst the major supplying countries. In September 2023, the highest price was recorded for prices from Turkey ($535 per ton) and Colombia ($498 per ton), while the price for Canada ($462 per ton) and Greece ($479 per ton) were amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Greece (+1.4%), while the prices for the other major suppliers experienced a decline.
Petroleum Bitumen Price in the United States (FOB) - 2023
In September 2023, the average petroleum bitumen export price amounted to $401 per ton, increasing by 8.4% against the previous month. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in June 2023 when the average export price increased by 30% m-o-m. The export price peaked at $453 per ton in October 2022; however, from November 2022 to September 2023, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was Costa Rica ($1,182 per ton), while the average price for exports to Mexico ($325 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 Honduras (+12.9%), while the prices for the other major destinations experienced more modest paces of growth.
Petroleum Bitumen Imports in the United States
For the fourth year in a row, the United States recorded growth in purchases abroad of petroleum bitumen, which increased by 44% to 5.6M tons in 2022. Over the period under review, total imports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +18.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +64.2% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, petroleum bitumen imports surged to $3B in 2022. Overall, imports showed a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.
Import of Petroleum Bitumen in the United States (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Canada | 1,009 | 750 | 1,290 | 2,656 | 38.1% |
Turkey | 46.7 | 38.9 | 89.9 | 192 | 60.2% |
Colombia | 19.0 | 23.1 | 40.8 | 60.1 | 46.8% |
Greece | 73.9 | 67.9 | 75.7 | 59.9 | -6.8% |
Spain | 88.9 | 30.8 | 37.1 | 22.0 | -37.2% |
Others | 34.1 | 44.9 | 30.5 | 59.8 | 20.6% |
Total | 1,272 | 955 | 1,564 | 3,049 | 33.8% |
Top Suppliers of Petroleum Bitumen to the United States in 2022:
- Canada (4956.6K tons)
- Turkey (314.1K tons)
- Greece (113.5K tons)
- Colombia (89.7K tons)
- Spain (36.8K tons)
Petroleum Bitumen Exports in the United States
In 2022, petroleum bitumen exports from the United States declined significantly to 640K tons, falling by -19.9% on 2021 figures. In general, exports recorded a abrupt downturn. The smallest decline of -15.9% was in 2020.
In value terms, petroleum bitumen exports stood at $308M in 2022. Over the period under review, exports saw a abrupt setback. The pace of growth appeared the most rapid in 2021 with an increase of 4.5%.
Export of Petroleum Bitumen in the United States (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Canada | 77.3 | 44.8 | 67.6 | 76.6 | -0.3% |
Mexico | 231 | 111 | 82.0 | 46.8 | -41.3% |
Chile | 24.6 | 25.9 | 26.6 | 44.7 | 22.0% |
New Zealand | N/A | 2.0 | 27.3 | 40.6 | 350.6% |
Costa Rica | N/A | 11.9 | 27.4 | 29.6 | 57.7% |
Panama | 24.9 | 6.7 | 9.2 | 18.2 | -9.9% |
Dominican Republic | 75.3 | 17.7 | 20.0 | 16.8 | -39.3% |
Others | 49.6 | 71.5 | 44.1 | 34.7 | -11.2% |
Total | 483 | 291 | 304 | 308 | -13.9% |
Top Export Markets for Petroleum Bitumen from the United States in 2022:
- Canada (157.5K tons)
- Mexico (117.4K tons)
- Chile (85.7K tons)
- New Zealand (77.1K tons)
- Costa Rica (58.3K tons)
- Panama (39.6K tons)
- Dominican Republic (33.5K tons)
This report provides an in-depth analysis of the petroleum bitumen market in the U.S.. 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:
- United States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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Explore the top import markets for petroleum bitumen and their key statistics. Discover the leading countries and their import values, including the United States, China, and India. Get insights from the IndexBox market intelligence platform.