Malaysia: Petroleum Bitumen Market 2024

Petroleum Bitumen Market Size in Malaysia

For the third year in a row, the Malaysian petroleum bitumen market recorded growth in sales value, which increased by X% to $X in 2022. Over the period under review, consumption saw significant growth. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the near future.

Petroleum Bitumen Production in Malaysia

In value terms, petroleum bitumen production amounted to $X in 2022 estimated in export price. In general, production, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Petroleum bitumen production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Petroleum Bitumen Exports

Exports from Malaysia

In 2022, exports of petroleum bitumen from Malaysia shrank dramatically to X tons, reducing by X% against the year before. Overall, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, petroleum bitumen exports soared to $X in 2022. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when exports increased by X%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Thailand (X tons), Australia (X tons) and Indonesia (X tons) were the main destinations of petroleum bitumen exports from Malaysia, with a combined X% share of total exports. China, New Zealand, Vietnam and Qatar lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by New Zealand (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for petroleum bitumen exported from Malaysia were Thailand ($X), Indonesia ($X) and Australia ($X), with a combined X% share of total exports. China, Qatar, Vietnam and New Zealand lagged somewhat behind, together comprising a further X%.

Qatar, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average petroleum bitumen export price stood at $X per ton in 2022, surging by X% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Qatar ($X per ton) and China ($X per ton), while the average price for exports to New Zealand ($X per ton) and Australia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (X%), while the prices for the other major destinations experienced a decline.

Petroleum Bitumen Imports

Imports into Malaysia

In 2022, the amount of petroleum bitumen imported into Malaysia skyrocketed to X tons, growing by X% on 2021 figures. Over the period under review, imports recorded a remarkable increase. The most prominent rate of growth was recorded in 2019 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, petroleum bitumen imports skyrocketed to $X in 2022. In general, imports recorded a remarkable increase. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, Singapore (X tons) constituted the largest petroleum bitumen supplier to Malaysia, accounting for a X% share of total imports. Moreover, petroleum bitumen imports from Singapore exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The United Arab Emirates (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Singapore stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and the United Arab Emirates (X% per year).

In value terms, Singapore ($X) constituted the largest supplier of petroleum bitumen to Malaysia, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Singapore amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

In 2022, the average petroleum bitumen import price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the import price, however, showed a pronounced setback. The pace of growth was the most pronounced in 2018 an increase of X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, 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 Turkey ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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