Report Update May 1, 2024

Philippines - Petroleum Bitumen - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Petroleum Bitumen Market 2024

Petroleum Bitumen Market Size in the Philippines

After two years of growth, the Philippine petroleum bitumen market decreased by X% to $X in 2022. Over the period under review, consumption continues to indicate a abrupt decline. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Petroleum Bitumen Production in the Philippines

In value terms, petroleum bitumen production shrank notably to $X in 2022 estimated in export price. In general, production, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Petroleum Bitumen Exports

Exports from the Philippines

For the fourth consecutive year, the Philippines recorded decline in shipments abroad of petroleum bitumen, which decreased by X% to X tons in 2022. In general, exports continue to indicate a dramatic descent. The most prominent rate of growth was recorded in 2018 with an increase of X%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, petroleum bitumen exports dropped notably to $X in 2022. Over the period under review, exports saw a sharp slump. The growth pace was the most rapid in 2018 with an increase of X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Vietnam (X tons) was the main destination for petroleum bitumen exports from the Philippines, accounting for a X% share of total exports. Moreover, petroleum bitumen exports to Vietnam exceeded the volume sent to the second major destination, Malaysia (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Vietnam totaled X%.

In value terms, Vietnam ($X) remains the key foreign market for petroleum bitumen exports from the Philippines, comprising X% of total exports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Vietnam amounted to X%.

Export Prices by Country

The average petroleum bitumen export price stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the export price, however, recorded a mild decline. Over the period under review, the average export prices reached the maximum at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Vietnam stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (X%).

Petroleum Bitumen Imports

Imports into the Philippines

Petroleum bitumen imports into the Philippines dropped significantly to X tons in 2022, waning by X% compared with 2021. Over the period under review, imports continue to indicate a dramatic decrease. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, petroleum bitumen imports declined rapidly to $X in 2022. Overall, imports continue to indicate a sharp curtailment. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X tons) and Bahrain (X tons) were the main suppliers of petroleum bitumen imports to the Philippines.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%).

In value terms, the largest petroleum bitumen suppliers to the Philippines were Bahrain ($X) and the United Arab Emirates ($X).

The United Arab Emirates, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review.

Import Prices by Country

In 2022, the average petroleum bitumen import price amounted to $X per ton, rising by X% against the previous year. In general, the import price recorded a temperate increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Bahrain ($X per ton), while the price for the United Arab Emirates stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for petroleum bitumen in the world?

The countries with the highest volumes of consumption in 2023 were China, the United States and India, with a combined 49% share of global consumption. Russia, Qatar, Iran, the United Arab Emirates, South Korea, Japan, France, Germany, Saudi Arabia and Turkey lagged somewhat behind, together comprising a further 25%.

What are the largest producers of petroleum bitumen in the world?

The countries with the highest volumes of production in 2022 were China, the United States and Russia, together comprising 44% of global production.

What are the leading suppliers of petroleum bitumen to the Philippines?

In value terms, Bahrain and the United Arab Emirates were the largest petroleum bitumen suppliers to the Philippines.

What are the leading importers of petroleum bitumen from the Philippines?

In value terms, Vietnam remains the key foreign market for petroleum bitumen exports from the Philippines, comprising 92% of total exports. The second position in the ranking was taken by Malaysia, with a 7.6% share of total exports.

What is the average export price for petroleum bitumen in the Philippines?

The average petroleum bitumen export price stood at $452 per ton in 2022, rising by 38% against the previous year.

What is the average import price for petroleum bitumen in the Philippines?

In 2022, the average petroleum bitumen import price amounted to $756 per ton, with an increase of 98% against the previous year.

This report provides an in-depth analysis of the petroleum bitumen market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Country coverage:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023