Central Asia: Market for Natural Bitumen and Asphalt 2024

Market Size for Natural Bitumen and Asphalt in Central Asia

The Central Asian natural bitumen and asphalt market was finally on the rise to reach $X in 2022, after four years of decline. Over the period under review, consumption continues to indicate a resilient increase. Over the period under review, the market attained the peak level in 2022 and is likely to see gradual growth in the near future.

Production of Natural Bitumen and Asphalt in Central Asia

In value terms, natural bitumen and asphalt production surged to $X in 2022 estimated in export price. Overall, production recorded a buoyant increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level in 2022 and is expected to retain growth in the near future.

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Exports of Natural Bitumen and Asphalt

Exports in Central Asia

After five years of decline, overseas shipments of natural bitumen and asphalt increased by X% to X tons in 2022. In general, exports posted a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, natural bitumen and asphalt exports surged to $X in 2022. Overall, exports posted significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Uzbekistan dominates exports structure, recording X tons, which was approx. X% of total exports in 2022. Turkmenistan (X tons) followed a long way behind the leaders.

Uzbekistan experienced a relatively flat trend pattern with regard to volume of exports of natural bitumen and asphalt. Turkmenistan experienced a relatively flat trend pattern. While the share of Uzbekistan (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

From 2012 to 2022, the average annual rate of growth in terms of value in Uzbekistan was relatively modest.

Export Prices by Country

In 2022, the export price in Central Asia amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the export price enjoyed a strong expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkmenistan ($X per ton), while Uzbekistan totaled $X per ton.

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

Imports of Natural Bitumen and Asphalt

Imports in Central Asia

Natural bitumen and asphalt imports soared to X tons in 2022, growing by X% on the year before. Overall, imports, however, recorded a noticeable shrinkage. The pace of growth was the most pronounced in 2019 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, natural bitumen and asphalt imports skyrocketed to $X in 2022. Over the period under review, imports, however, continue to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Turkmenistan was the key importing country with an import of around X tons, which recorded X% of total imports. Kazakhstan (X tons) held the second position in the ranking, distantly followed by Mongolia (X tons) and Kyrgyzstan (X tons). All these countries together took near X% share of total imports. The following importers - Tajikistan (X tons) and Uzbekistan (X tons) - each finished at a X% share of total imports.

Turkmenistan was also the fastest-growing in terms of the natural bitumen and asphalt imports, with a CAGR of X% from 2012 to 2022. At the same time, Kazakhstan (X%), Tajikistan (X%) and Kyrgyzstan (X%) displayed positive paces of growth. By contrast, Uzbekistan (X%) and Mongolia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkmenistan, Kazakhstan, Tajikistan and Kyrgyzstan increased by X, X, X and X percentage points, respectively.

In value terms, Turkmenistan ($X) constitutes the largest market for imported natural bitumen and asphalt in Central Asia, comprising X% of total imports. The second position in the ranking was taken by Kazakhstan ($X), with a X% share of total imports. It was followed by Mongolia, with a X% share.

In Turkmenistan, natural bitumen and asphalt imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Kazakhstan (X% per year) and Mongolia (X% per year).

Import Prices by Country

The import price in Central Asia stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the import price, however, saw a slight curtailment. The growth pace was the most rapid in 2016 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the import prices remained 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 Mongolia ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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