MERCOSUR: Petroleum Bitumen Market 2024

Petroleum Bitumen Market Size in MERCOSUR

In 2022, the MERCOSUR petroleum bitumen market was finally on the rise to reach $X after three years of decline. Over the period under review, consumption, however, showed a noticeable slump. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Petroleum Bitumen Production in MERCOSUR

In value terms, petroleum bitumen production reduced slightly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Petroleum Bitumen Exports

Exports in MERCOSUR

In 2022, shipments abroad of petroleum bitumen increased by X% to X tons, rising for the second year in a row after five years of decline. Over the period under review, exports showed buoyant growth. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, petroleum bitumen exports surged to $X in 2022. Overall, exports posted strong growth. The pace of growth was the most pronounced in 2013 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Colombia prevails in exports structure, accounting for X tons, which was approx. X% of total exports in 2022. It was distantly followed by Venezuela (X tons), creating a X% share of total exports. The following exporters - Brazil (X tons) and Peru (X tons) - together made up X% of total exports.

Colombia was also the fastest-growing in terms of the petroleum bitumen exports, with a CAGR of X% from 2012 to 2022. Venezuela experienced a relatively flat trend pattern. Peru (X%) and Brazil (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Colombia increased by X percentage points.

In value terms, Colombia ($X) remains the largest petroleum bitumen supplier in MERCOSUR, comprising X% of total exports. The second position in the ranking was held by Brazil ($X), with a X% share of total exports. It was followed by Venezuela, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Colombia stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (X% per year) and Venezuela (X% per year).

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2022, picking up by X% against the previous year. In general, the export price, however, saw a perceptible curtailment. The most prominent rate of growth was recorded in 2018 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

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

Petroleum Bitumen Imports

Imports in MERCOSUR

In 2022, petroleum bitumen imports in MERCOSUR surged to X tons, increasing by X% compared with the previous year. In general, imports recorded a strong expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, petroleum bitumen imports surged to $X in 2022. Overall, imports posted strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Argentina was the main importing country with an import of about X tons, which reached X% of total imports. Uruguay (X tons) held the second position in the ranking, distantly followed by Paraguay (X tons) and Brazil (X tons). All these countries together held approx. X% share of total imports. Chile (X tons) followed a long way behind the leaders.

Argentina was also the fastest-growing in terms of the petroleum bitumen imports, with a CAGR of X% from 2012 to 2022. At the same time, Uruguay (X%), Chile (X%) and Paraguay (X%) displayed positive paces of growth. By contrast, Brazil (X%) illustrated a downward trend over the same period. While the share of Argentina (X p.p.) and Uruguay (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Paraguay (X p.p.) and Brazil (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Argentina ($X) constitutes the largest market for imported petroleum bitumen in MERCOSUR, comprising X% of total imports. The second position in the ranking was held by Uruguay ($X), with a X% share of total imports. It was followed by Paraguay, with a X% share.

In Argentina, petroleum bitumen imports 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: Uruguay (X% per year) and Paraguay (X% per year).

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2022, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. Over the period under review, import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Uruguay ($X per ton) and Paraguay ($X per ton), while Brazil ($X per ton) and Chile ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :