Australia and Oceania: Petroleum Bitumen Market 2024

Petroleum Bitumen Market Size in Australia and Oceania

The petroleum bitumen market in Australia and Oceania reached $X in 2023, remaining stable against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. The level of consumption peaked in 2023 and is likely to continue growth in the near future.

Petroleum Bitumen Production in Australia and Oceania

In value terms, petroleum bitumen production shrank rapidly to $X in 2023 estimated in export price. Overall, production showed a abrupt contraction. The pace of growth was the most pronounced in 2019 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2023, production growth failed to regain momentum.

Petroleum Bitumen Exports

Exports in Australia and Oceania

In 2023, petroleum bitumen exports in Australia and Oceania skyrocketed to X tons, with an increase of X% against the previous year. Over the period under review, exports posted a slight increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. The volume of export peaked in 2023 and is expected to retain growth in years to come.

In value terms, petroleum bitumen exports skyrocketed to $X in 2023. In general, exports, however, showed a slight descent. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Fiji was the largest exporter of petroleum bitumen in Australia and Oceania, with the volume of exports amounting to X tons, which was near X% of total exports in 2023. It was distantly followed by Australia (X tons), making up an X% share of total exports.

Fiji was also the fastest-growing in terms of the petroleum bitumen exports, with a CAGR of X% from 2012 to 2023. Australia (X%) illustrated a downward trend over the same period. While the share of Fiji (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Australia (X p.p.) displayed negative dynamics.

In value terms, Fiji ($X) remains the largest petroleum bitumen supplier in Australia and Oceania, comprising X% of total exports. The second position in the ranking was held by Australia ($X), with an X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in Fiji stood at X%.

Export Prices by Country

In 2023, the export price in Australia and Oceania amounted to $X per ton, reducing by X% against the previous year. In general, the export price saw a noticeable setback. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2023, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Fiji ($X per ton), while Australia amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Australia (X%).

Petroleum Bitumen Imports

Imports in Australia and Oceania

In 2023, imports of petroleum bitumen in Australia and Oceania reached X tons, growing by X% against the previous year. Total imports indicated a notable increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2021; afterwards, it flattened through to 2023.

In value terms, petroleum bitumen imports stood at $X in 2023. In general, imports posted a tangible expansion. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, imports hit record highs in 2023 and are expected to retain growth in the immediate term.

Imports by Country

Australia represented the largest importing country with an import of around X tons, which accounted for X% of total imports. It was distantly followed by New Zealand (X tons), achieving a X% share of total imports.

From 2012 to 2023, average annual rates of growth with regard to petroleum bitumen imports into Australia stood at X%. At the same time, New Zealand (X%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of X% from 2012-2023. New Zealand (X p.p.) significantly strengthened its position in terms of the total imports, while Australia saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, Australia ($X) constitutes the largest market for imported petroleum bitumen in Australia and Oceania, comprising X% of total imports. The second position in the ranking was held by New Zealand ($X), with a X% share of total imports.

From 2012 to 2023, the average annual growth rate of value in Australia stood at X%.

Import Prices by Country

In 2023, the import price in Australia and Oceania amounted to $X per ton, leveling off at the previous year. Overall, the import price, however, showed a mild decrease. The pace of growth was the most pronounced in 2017 when the import price increased by X%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was New Zealand ($X per ton), while Australia amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by New Zealand (X%).

Source: IndexBox Platform