Bitumen Mixer Market

The article discusses the expected decline in the bitumen mixer market consumption over the next eight years, with a decrease in market performance and value. It provides detailed data on global consumption, production, imports, and exports of bitumen mixers, highlighting key trends and growth rates. The largest consuming and producing countries are identified, along with changes in per capita consumption and production. Import and export trends, including major exporting countries and average price fluctuations, are also analyzed.

Market Forecast

The bitumen mixer market is expected to start a downward consumption trend over the next eight-year period. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -0.6% for the eight-year period from 2022 to 2030, which is projected to depress the market volume to 96K units by the end of 2030.

In value terms, the market is forecast to contract with an anticipated CAGR of -0.4% for the period from 2022 to 2030, which is projected to bring the market value to $12.8B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Machines For Mixing Mineral Substances With Bitumen

In 2022, the amount of machines for mixing mineral substances with bitumen consumed worldwide skyrocketed to 101K units, picking up by 20% against the previous year's figure. In general, consumption continues to indicate a resilient increase. As a result, consumption reached the peak volume of 119K units. From 2014 to 2022, the growth of the global consumption failed to regain momentum.

The global bitumen mixer market value skyrocketed to $13.2B in 2022, rising by 146% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption posted a strong expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Consumption By Country

The country with the largest volume of bitumen mixer consumption was Bolivia (53K units), comprising approx. 52% of total volume. Moreover, bitumen mixer consumption in Bolivia exceeded the figures recorded by the second-largest consumer, China (7.8K units), sevenfold. India (7.5K units) ranked third in terms of total consumption with a 7.4% share.

In Bolivia, bitumen mixer consumption increased at an average annual rate of +96.1% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of consumption growth: China (+2.0% per year) and India (+11.5% per year).

In value terms, Bolivia ($9.3B) led the market, alone. The second position in the ranking was taken by China ($1.2B). It was followed by the United States.

From 2012 to 2022, the average annual growth rate of value in Bolivia totaled +103.8%. The remaining consuming countries recorded the following average annual rates of market growth: China (+2.4% per year) and the United States (-2.9% per year).

In 2022, the highest levels of bitumen mixer per capita consumption was registered in Bolivia (4,425 units per million persons), followed by Saudi Arabia (96 units per million persons), the United States (10 units per million persons) and China (5.5 units per million persons), while the world average per capita consumption of bitumen mixer was estimated at 0.2 units per million persons.

In Bolivia, bitumen mixer per capita consumption increased at an average annual rate of +93.3% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Saudi Arabia (-0.6% per year) and the United States (-3.3% per year).

Production

World Production of Machines For Mixing Mineral Substances With Bitumen

In 2022, global bitumen mixer production soared to 97K units, with an increase of 28% compared with 2021 figures. Overall, production enjoyed resilient growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 283% against the previous year. Global production peaked at 230K units in 2014; however, from 2015 to 2022, production remained at a lower figure.

In value terms, bitumen mixer production soared to $23.9B in 2022 estimated in export price. Over the period under review, production enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of 482% against the previous year. As a result, production attained the peak level of $30.3B. From 2021 to 2022, global production growth remained at a lower figure.

Production By Country

Bolivia (53K units) remains the largest bitumen mixer producing country worldwide, accounting for 55% of total volume. Moreover, bitumen mixer production in Bolivia exceeded the figures recorded by the second-largest producer, India (8.4K units), sixfold. China (8.3K units) ranked third in terms of total production with an 8.5% share.

From 2012 to 2022, the average annual growth rate of volume in Bolivia totaled +101.5%. In the other countries, the average annual rates were as follows: India (+11.8% per year) and China (+1.4% per year).

Imports

World Imports of Machines For Mixing Mineral Substances With Bitumen

In 2022, purchases abroad of machines for mixing mineral substances with bitumen decreased by -29.6% to 12K units for the first time since 2019, thus ending a two-year rising trend. In general, imports saw a perceptible descent. The most prominent rate of growth was recorded in 2017 with an increase of 33%. Global imports peaked at 18K units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, bitumen mixer imports fell dramatically to $434M in 2022. Over the period under review, imports recorded a deep reduction. The pace of growth appeared the most rapid in 2017 when imports increased by 23%. Global imports peaked at $870M in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports By Country

In 2022, Saudi Arabia (3.4K units) was the major importer of machines for mixing mineral substances with bitumen, comprising 28% of total imports. Armenia (1,033 units) ranks second in terms of the total imports with an 8.6% share, followed by the Philippines (6.1%). The following importers - Thailand (480 units), Norway (325 units), Russia (316 units), Malaysia (284 units), the Netherlands (284 units), Sweden (270 units), New Zealand (264 units), the United States (214 units), Timor-Leste (206 units) and Democratic Republic of the Congo (197 units) - together made up 24% of total imports.

From 2012 to 2022, average annual rates of growth with regard to bitumen mixer imports into Saudi Arabia stood at +1.4%. At the same time, the Netherlands (+432.9%), Armenia (+86.7%), Timor-Leste (+70.4%), Sweden (+67.7%), New Zealand (+41.9%), Democratic Republic of the Congo (+30.2%), the United States (+24.5%) and Norway (+11.8%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing importer imported in the world, with a CAGR of +432.9% from 2012-2022. Malaysia and Thailand experienced a relatively flat trend pattern. By contrast, the Philippines (-11.5%) and Russia (-14.1%) illustrated a downward trend over the same period. While the share of Saudi Arabia (+11 p.p.), Armenia (+8.6 p.p.), the Netherlands (+2.4 p.p.), Sweden (+2.2 p.p.), New Zealand (+2.1 p.p.), Norway (+2.1 p.p.), Timor-Leste (+1.7 p.p.), the United States (+1.6 p.p.) and Democratic Republic of the Congo (+1.6 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Russia (-5.6 p.p.) and the Philippines (-8.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($62M) constitutes the largest market for imported machines for mixing mineral substances with bitumen worldwide, comprising 14% of global imports. The second position in the ranking was taken by Thailand ($14M), with a 3.2% share of global imports. It was followed by Saudi Arabia, with a 2.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Russia amounted to -9.0%. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (+5.2% per year) and Saudi Arabia (-5.7% per year).

Import Prices By Country

The average bitumen mixer import price stood at $36,027 per unit in 2022, surging by 20% against the previous year. Over the period under review, the import price, however, recorded a slight descent. The pace of growth was the most pronounced in 2013 an increase of 47%. Over the period under review, average import prices attained the peak figure at $68,172 per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Russia ($195,921 per unit), while Timor-Leste ($949 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+15.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Machines For Mixing Mineral Substances With Bitumen

Global bitumen mixer exports declined to 7.5K units in 2022, reducing by -12.6% against 2021. In general, exports saw a deep contraction. The most prominent rate of growth was recorded in 2014 when exports increased by 1,498%. As a result, the exports reached the peak of 205K units. From 2015 to 2022, the growth of the global exports remained at a lower figure.

In value terms, bitumen mixer exports contracted remarkably to $447M in 2022. Overall, exports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 25% against the previous year. Over the period under review, the global exports reached the maximum at $766M in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

The shipments of the eight major exporters of machines for mixing mineral substances with bitumen, namely Russia, Malaysia, South Africa, India, Germany, Italy, China and Singapore, represented more than two-thirds of total export. The following exporters - Turkey (263 units), Spain (131 units) and the United States (115 units) - together made up 6.8% of total exports.

From 2012 to 2022, the biggest increases were recorded for South Africa (with a CAGR of +45.5%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, China ($102M), Italy ($65M) and Germany ($60M) appeared to be the countries with the highest levels of exports in 2022, with a combined 51% share of global exports. Turkey, India, Spain, the United States, Malaysia, Singapore, South Africa and Russia lagged somewhat behind, together accounting for a further 23%.

Russia, with a CAGR of +24.6%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average bitumen mixer export price amounted to $59,885 per unit, waning by -3.7% against the previous year. In general, the export price, however, showed a pronounced expansion. The growth pace was the most rapid in 2015 when the average export price increased by 2,587%. As a result, the export price attained the peak level of $86,995 per unit. From 2016 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($227,690 per unit), while Russia ($1,223 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+23.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform