Guatemala: Market for Natural Bitumen and Asphalt 2024

Market Size for Natural Bitumen and Asphalt in Guatemala

In 2022, the Guatemalan natural bitumen and asphalt market was finally on the rise to reach $X for the first time since 2017, thus ending a four-year declining trend. In general, consumption, however, showed a abrupt decrease. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Natural Bitumen and Asphalt in Guatemala

In value terms, natural bitumen and asphalt production totaled $X in 2022 estimated in export price. Overall, production continues to indicate a pronounced reduction. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Exports of Natural Bitumen and Asphalt

Exports from Guatemala

In 2022, overseas shipments of natural bitumen and asphalt decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. In general, exports faced a precipitous decrease. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, natural bitumen and asphalt exports fell notably to $X in 2022. Over the period under review, exports showed a dramatic setback. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Honduras (X tons) was the main destination for natural bitumen and asphalt exports from Guatemala, with a X% share of total exports. Moreover, natural bitumen and asphalt exports to Honduras exceeded the volume sent to the second major destination, Panama (X kg), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Honduras amounted to X%.

In value terms, Honduras ($X) emerged as the key foreign market for natural bitumen and asphalt exports from Guatemala, comprising X% of total exports. The second position in the ranking was taken by Panama ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Honduras stood at X%.

Export Prices by Country

The average natural bitumen and asphalt export price stood at $X per ton in 2022, picking up by X% against the previous year. In general, the export price posted a significant increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to Honduras totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Honduras (X%), while the prices for the other major destinations experienced a decline.

Imports of Natural Bitumen and Asphalt

Imports into Guatemala

In 2022, the amount of natural bitumen and asphalt imported into Guatemala contracted sharply to X tons, waning by X% against 2021. Over the period under review, imports continue to indicate a significant curtailment. The pace of growth was the most pronounced in 2019 when imports increased by X% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, natural bitumen and asphalt imports plummeted to $X in 2022. Overall, imports saw a precipitous slump. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Mexico (X tons) was the main supplier of natural bitumen and asphalt to Guatemala, accounting for a X% share of total imports. Moreover, natural bitumen and asphalt imports from Mexico exceeded the figures recorded by the second-largest supplier, Honduras (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Mexico totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Honduras (X% per year) and the United States (X% per year).

In value terms, Mexico ($X) constituted the largest supplier of natural bitumen and asphalt to Guatemala, comprising X% of total imports. The second position in the ranking was taken by Honduras ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Mexico amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Honduras (X% per year) and the United States (X% per year).

Import Prices by Country

The average natural bitumen and asphalt import price stood at $X per ton in 2022, surging by X% against the previous year. Overall, the import price continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Honduras ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Honduras (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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