ASEAN: Petroleum Bitumen Market 2024

Petroleum Bitumen Market Size in ASEAN

In 2022, the ASEAN petroleum bitumen market increased by X% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the immediate term.

Petroleum Bitumen Production in ASEAN

In value terms, petroleum bitumen production declined to $X in 2022 estimated in export price. Overall, production, however, recorded a deep setback. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Petroleum Bitumen Exports

Exports in ASEAN

Petroleum bitumen exports amounted to X tons in 2022, remaining relatively unchanged against 2021. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of X%. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, petroleum bitumen exports skyrocketed to $X in 2022. Overall, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Singapore represented the main exporter of petroleum bitumen in ASEAN, with the volume of exports finishing at X tons, which was approx. X% of total exports in 2022. Malaysia (X tons) held the second position in the ranking, distantly followed by Thailand (X tons). All these countries together took approx. X% share of total exports.

Singapore was also the fastest-growing in terms of the petroleum bitumen exports, with a CAGR of X% from 2012 to 2022. Thailand and Malaysia experienced a relatively flat trend pattern. While the share of Singapore (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Thailand (X p.p.) and Malaysia (X p.p.) displayed negative dynamics.

In value terms, Singapore ($X) remains the largest petroleum bitumen supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Malaysia ($X), with an X% share of total exports.

In Singapore, petroleum bitumen exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Malaysia (X% per year) and Thailand (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the export price, however, continues to indicate a pronounced decline. The growth pace was the most rapid in 2018 an increase of X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced a decline in the export price figures.

Petroleum Bitumen Imports

Imports in ASEAN

In 2022, approx. X tons of petroleum bitumen were imported in ASEAN; increasing by X% compared with the previous year's figure. Total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, petroleum bitumen imports skyrocketed to $X in 2022. Total imports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Malaysia (X tons), Indonesia (X tons) and Vietnam (X tons) represented roughly X% of total imports in 2022. It was distantly followed by Thailand (X tons), generating an X% share of total imports. The following importers - Cambodia (X tons) and Myanmar (X tons) - each recorded a X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest petroleum bitumen importing markets in ASEAN were Indonesia ($X), Vietnam ($X) and Malaysia ($X), with a combined X% share of total imports. Thailand, Myanmar and Cambodia lagged somewhat behind, together comprising a further X%.

Myanmar, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the import price, however, continues to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2018 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per ton), while Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :