Report Update: May 6, 2024

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

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Petroleum Bitumen Price in Venezuela - 2022

Petroleum Bitumen Price in Venezuela (FOB) - 2022

The average petroleum bitumen export price stood at $324 per ton in 2022, shrinking by -2.3% against the previous year. Over the period under review, the export price saw a deep slump. The most prominent rate of growth was recorded in 2017 when the average export price increased by 49%. Over the period under review, the average export prices hit record highs at $565 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was France ($409 per ton), while the average price for exports to Spain ($97 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 Colombia (-4.8%), while the prices for the other major destinations experienced a decline.

Petroleum Bitumen Price in Venezuela (CIF) - 2022

The average petroleum bitumen import price stood at $534 per ton in 2022, reducing by -7.5% against the previous year. Over the period under review, import price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when the average import price increased by 67%. As a result, import price reached the peak level of $602 per ton. From 2015 to 2022, the average 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 the United States ($1,093 per ton), while the price for China amounted to $504 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+15.1%).

Petroleum Bitumen Exports in Venezuela

For the third year in a row, Venezuela recorded decline in overseas shipments of petroleum bitumen, which decreased by -3.3% to 25K tons in 2022. Overall, exports continue to indicate a pronounced descent.

In value terms, petroleum bitumen exports fell to $8.2M in 2022. In general, exports recorded a deep contraction.

Export of Petroleum Bitumen in Venezuela (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
France	1.6	2.7	3.8	6.0	55.4%
United States	7.8	6.1	4.3	1.3	-45.0%
Taiwan (Chinese)	0.1	0.1	0.1	0.4	58.7%
Morocco	0.1	0.2	0.2	0.3	44.2%
Colombia	0.1	0.1	0.1	0.2	26.0%
Spain	N/A	N/A	N/A	N/A	0%
Others	0.1	0.1	0.1	0.1	0.0%
Total	9.7	9.2	8.7	8.2	-5.4%

Top Export Markets for Petroleum Bitumen from Venezuela in 2022:

France (14.6K tons)
United States (6.6K tons)
Morocco (1.6K tons)
Taiwan (Chinese) (1.0K tons)
Colombia (0.5K tons)
Spain (0.5K tons)

Petroleum Bitumen Imports in Venezuela

In 2022, petroleum bitumen imports into Venezuela soared to 857 tons, growing by 17% against the year before. In general, imports showed a significant expansion. The growth pace was the most rapid in 2021 when imports increased by 43%. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, petroleum bitumen imports expanded markedly to $458K in 2022. Overall, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 54%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

Import of Petroleum Bitumen in Venezuela (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	N/A	N/A	N/A	410	0%
United States	179	276	425	47.7	-35.6%
Others	N/A	N/A	N/A	0.2	0%
Total	179	276	425	458	36.8%

Top Suppliers of Petroleum Bitumen to Venezuela in 2022:

China (813.6 tons)
United States (43.7 tons)

Source: IndexBox Market Intelligence Platform

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

Venezuela

Data coverage:

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