South-Eastern Asia: Petroleum Bitumen Market 2024

Petroleum Bitumen Market Size in South-Eastern Asia

In 2022, the Southeast Asian petroleum bitumen market increased by X% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the immediate term.

Petroleum Bitumen Production in South-Eastern Asia

In value terms, petroleum bitumen production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Petroleum Bitumen Exports

Exports in South-Eastern Asia

In 2022, petroleum bitumen exports in South-Eastern Asia reached X tons, leveling off at the previous year. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, petroleum bitumen exports soared to $X in 2022. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

Singapore represented the largest exporter of petroleum bitumen in South-Eastern Asia, with the volume of exports finishing at X tons, which was approx. X% of total exports in 2022. Malaysia (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Thailand (X%).

Singapore was also the fastest-growing in terms of the petroleum bitumen exports, with a CAGR of X% from 2012 to 2022. Thailand and Malaysia experienced a relatively flat trend pattern. From 2012 to 2022, the share of Singapore increased by X percentage points.

In value terms, Singapore ($X) remains the largest petroleum bitumen supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Malaysia ($X), with an X% share of total exports.

In Singapore, petroleum bitumen exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (X% per year) and Thailand (X% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, jumping by X% against the previous year. Overall, the export price, however, continues to indicate a perceptible descent. The most prominent rate of growth was recorded in 2018 when the export price increased by X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Singapore ($X per ton) was amongst the lowest.

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

Petroleum Bitumen Imports

Imports in South-Eastern Asia

In 2022, imports of petroleum bitumen in South-Eastern Asia totaled X tons, increasing by X% compared with the year before. Total imports indicated a prominent increase 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 decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2015 when imports increased by X%. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, petroleum bitumen imports skyrocketed to $X in 2022. Total imports indicated a notable 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 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of petroleum bitumen imports in 2022 were Malaysia (X tons), Indonesia (X tons) and Vietnam (X tons), together accounting for X% of total import. It was distantly followed by Thailand (X tons), generating an X% share of total imports. The following importers - Cambodia (X tons) and Myanmar (X tons) - each reached a X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (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 South-Eastern Asia were Indonesia ($X), Vietnam ($X) and Malaysia ($X), with a combined X% share of total imports. Thailand, Myanmar and Cambodia lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Myanmar, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, 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 South-Eastern Asia stood at $X per ton in 2022, surging by X% against the previous year. Overall, the import price, however, showed a slight curtailment. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per ton), while Cambodia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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