Southern Asia: Petroleum Bitumen Market 2024

Petroleum Bitumen Market Size in Southern Asia

The South Asian petroleum bitumen market reduced to $X in 2022, with a decrease of X% against the previous year. The total consumption indicated a noticeable increase 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, consumption increased by X% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2021, and then declined in the following year.

Petroleum Bitumen Production in Southern Asia

In value terms, petroleum bitumen production dropped slightly to $X in 2022 estimated in export price. In general, production showed a mild curtailment. The growth pace was the most rapid in 2018 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Petroleum Bitumen Exports

Exports in Southern Asia

In 2022, overseas shipments of petroleum bitumen were finally on the rise to reach X tons after two years of decline. Over the period under review, exports recorded a buoyant increase. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, petroleum bitumen exports rose significantly to $X in 2022. Overall, exports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

India represented the key exporting country with an export of around X tons, which finished at X% of total exports. It was distantly followed by Pakistan (X tons), making up a X% share of total exports.

Exports from India increased at an average annual rate of X% from 2012 to 2022. At the same time, Pakistan (X%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of X% from 2012-2022. While the share of Pakistan (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of India (X p.p.) displayed negative dynamics.

In value terms, India ($X) remains the largest petroleum bitumen supplier in Southern Asia, comprising X% of total exports. The second position in the ranking was held by Pakistan ($X), with a X% share of total exports.

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

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while Pakistan stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (X%).

Petroleum Bitumen Imports

Imports in Southern Asia

In 2022, after five years of growth, there was significant decline in purchases abroad of petroleum bitumen, when their volume decreased by X% to X tons. In general, imports, however, posted significant growth. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2021, and then shrank in the following year.

In value terms, petroleum bitumen imports expanded sharply to $X in 2022. Overall, imports, however, recorded resilient growth. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

India dominates imports structure, resulting at X tons, which was approx. X% of total imports in 2022. It was distantly followed by Pakistan (X tons), creating a X% share of total imports. Nepal (X tons), Bangladesh (X tons) and Sri Lanka (X tons) held a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to petroleum bitumen imports into India stood at X%. At the same time, Nepal (X%) and Pakistan (X%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of X% from 2012-2022. Bangladesh experienced a relatively flat trend pattern. By contrast, Sri Lanka (X%) illustrated a downward trend over the same period. While the share of India (X p.p.) and Nepal (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Bangladesh (X p.p.), Pakistan (X p.p.) and Sri Lanka (X p.p.) displayed negative dynamics.

In value terms, India ($X) constitutes the largest market for imported petroleum bitumen in Southern Asia, comprising X% of total imports. The second position in the ranking was taken by Nepal ($X), with a X% share of total imports. It was followed by Pakistan, with a X% share.

From 2012 to 2022, the average annual growth rate of value in India totaled X%. In the other countries, the average annual rates were as follows: Nepal (X% per year) and Pakistan (X% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, picking up by X% against the previous year. Overall, the import price, however, recorded a mild shrinkage. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Nepal ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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