Central Asia: Petroleum Bitumen Market 2024

Petroleum Bitumen Market Size in Central Asia

For the third consecutive year, the Central Asian petroleum bitumen market recorded growth in sales value, which increased by X% to $X in 2023. Overall, consumption posted a notable increase. Over the period under review, the market attained the maximum level in 2023 and is likely to see gradual growth in the immediate term.

Petroleum Bitumen Production in Central Asia

In value terms, petroleum bitumen production reached $X in 2023 estimated in export price. In general, production saw strong growth. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Petroleum Bitumen Exports

Exports in Central Asia

Petroleum bitumen exports surged to X tons in 2023, rising by X% compared with the previous year's figure. Over the period under review, exports enjoyed noticeable growth. The pace of growth appeared the most rapid in 2021 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2023, the exports failed to regain momentum.

In value terms, petroleum bitumen exports surged to $X in 2023. In general, exports enjoyed a mild increase. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The level of export peaked at $X in 2019; however, from 2020 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

The shipments of the two major exporters of petroleum bitumen, namely Turkmenistan and Kazakhstan, represented more than two-thirds of total export.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Turkmenistan (with a CAGR of X%).

In value terms, Turkmenistan ($X) and Kazakhstan ($X) were the countries with the highest levels of exports in 2023.

Among the main exporting countries, Turkmenistan, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2023, the export price in Central Asia amounted to $X per ton, growing by X% against the previous year. In general, the export price, however, saw a noticeable setback. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

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

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

Petroleum Bitumen Imports

Imports in Central Asia

For the third year in a row, Central Asia recorded growth in supplies from abroad of petroleum bitumen, which increased by X% to X tons in 2023. Overall, imports, however, showed a slight descent. The pace of growth appeared the most rapid in 2019 when imports increased by X%. The volume of import peaked at X tons in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

In value terms, petroleum bitumen imports surged to $X in 2023. In general, imports, however, showed a pronounced reduction. The growth pace was the most rapid in 2019 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Uzbekistan dominates imports structure, amounting to X tons, which was approx. X% of total imports in 2023. Turkmenistan (X tons) ranks second in terms of the total imports with a X% share, followed by Mongolia (X%), Kyrgyzstan (X%), Tajikistan (X%) and Kazakhstan (X%).

Uzbekistan was also the fastest-growing in terms of the petroleum bitumen imports, with a CAGR of X% from 2012 to 2023. At the same time, Tajikistan (X%) displayed positive paces of growth. Mongolia experienced a relatively flat trend pattern. By contrast, Kyrgyzstan (X%), Turkmenistan (X%) and Kazakhstan (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Uzbekistan and Tajikistan increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2023, the average annual growth rate of value in Uzbekistan totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Mongolia (X% per year) and Kyrgyzstan (X% per year).

Import Prices by Country

The import price in Central Asia stood at $X per ton in 2023, falling by X% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2023, 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 Kyrgyzstan ($X per ton), while Turkmenistan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Uzbekistan (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform