MENA: Petroleum Bitumen Market 2024

Petroleum Bitumen Market Size in MENA

In 2022, after two years of decline, there was significant growth in the MENA's petroleum bitumen market, when its value increased by X% to $X. Overall, consumption, however, saw a slight downturn. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Petroleum Bitumen Production in MENA

In value terms, petroleum bitumen production fell slightly to $X in 2022 estimated in export price. In general, production continues to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Petroleum Bitumen Exports

Exports in MENA

After two years of growth, shipments abroad of petroleum bitumen decreased by X% to X tons in 2022. Over the period under review, exports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then fell sharply in the following year.

In value terms, petroleum bitumen exports contracted dramatically to $X in 2022. Overall, exports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports reached the peak of $X, and then reduced remarkably in the following year.

Exports by Country

Iraq (X tons) and Turkey (X tons) represented the major exporters of petroleum bitumen in 2022, accounting for near X% and X% of total exports, respectively. Iran (X tons) held the next position in the ranking, followed by the United Arab Emirates (X tons). All these countries together held approx. X% share of total exports. Bahrain (X tons) followed a long way behind the leaders.

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

In value terms, the largest petroleum bitumen supplying countries in MENA were Iraq ($X), Turkey ($X) and Iran ($X), together comprising X% of total exports.

Among the main exporting countries, Iraq, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, growing by X% against the previous year. Overall, the export price, however, showed a noticeable decrease. The pace of growth appeared the most rapid in 2021 when the export price increased by 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 somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Bahrain ($X per ton) and Turkey ($X per ton), while Iran ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

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

Petroleum Bitumen Imports

Imports in MENA

In 2022, imports of petroleum bitumen in MENA shrank slightly to X tons, leveling off at the previous year's figure. Over the period under review, imports, however, enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2021, and then dropped slightly in the following year.

In value terms, petroleum bitumen imports reached $X in 2022. Overall, imports, however, showed resilient growth. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Imports by Country

The countries with the highest levels of petroleum bitumen imports in 2022 were Algeria (X tons), Turkey (X tons), Egypt (X tons) and the United Arab Emirates (X tons), together reaching X% of total import. It was distantly followed by Morocco (X tons), making up an X% share of total imports. Iraq (X tons) and Tunisia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (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 MENA were Algeria ($X), Turkey ($X) and Egypt ($X), with a combined X% share of total imports. The United Arab Emirates, Morocco, Iraq and Tunisia lagged somewhat behind, together accounting for a further X%.

The United Arab Emirates, with a CAGR of X%, recorded the highest rates of growth with regard to 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 MENA stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the import price, however, saw a slight reduction. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Morocco ($X per ton), while the United Arab Emirates ($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 other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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