Guatemala: Market for Asphalt or Bitumen Articles 2024

Market Size for Asphalt or Bitumen Articles in Guatemala

The Guatemalan asphalt or bitumen article market skyrocketed to $X in 2022, jumping by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated tangible growth 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, consumption increased by X% against 2017 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Asphalt or Bitumen Articles

Exports from Guatemala

In 2022, the amount of asphalt or bitumen articles exported from Guatemala dropped sharply to X tons, falling by X% on 2021. Overall, exports showed a abrupt descent. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, asphalt or bitumen article exports shrank rapidly to $X in 2022. Over the period under review, exports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

El Salvador (X tons) was the main destination for asphalt or bitumen article exports from Guatemala, with a X% share of total exports. Moreover, asphalt or bitumen article exports to El Salvador exceeded the volume sent to the second major destination, Mexico (X tons), fivefold. Honduras (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to El Salvador amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Honduras (X% per year).

In value terms, El Salvador ($X) remains the key foreign market for asphalt or bitumen articles exports from Guatemala, comprising X% of total exports. The second position in the ranking was taken by Honduras ($X), with a X% share of total exports. It was followed by Mexico, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to El Salvador was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (X% per year) and Mexico (X% per year).

Export Prices by Country

In 2022, the average asphalt or bitumen article export price amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the export price recorded a pronounced downturn. The pace of growth was the most pronounced in 2019 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Nicaragua ($X per ton), while the average price for exports to Mexico ($X 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 Honduras (X%), while the prices for the other major destinations experienced a decline.

Imports of Asphalt or Bitumen Articles

Imports into Guatemala

In 2022, the amount of asphalt or bitumen articles imported into Guatemala skyrocketed to X tons, jumping by X% on the previous year. Over the period under review, total imports indicated a moderate expansion 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 increased by X% against 2015 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, asphalt or bitumen article imports soared to $X in 2022. In general, total imports indicated a temperate expansion 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 2018 indices. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

The United States (X tons), Canada (X tons) and Mexico (X tons) were the main suppliers of asphalt or bitumen article imports to Guatemala, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Canada (with a CAGR of X%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) constituted the largest supplier of asphalt or bitumen articles to Guatemala, comprising X% of total imports. The second position in the ranking was taken by Canada ($X), with a X% share of total imports. It was followed by Mexico, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (X% per year) and Mexico (X% per year).

Import Prices by Country

In 2022, the average asphalt or bitumen article import price amounted to $X per ton, with an increase of X% against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs 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 supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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