Australia - Petroleum Bitumen - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPetroleum Bitumen Price in Australia - 2023
Contents:
- Petroleum Bitumen Price in Australia (CIF) - 2023
- Petroleum Bitumen Price in Australia (FOB) - 2022
- Petroleum Bitumen Imports in Australia
- Petroleum Bitumen Exports in Australia
Petroleum Bitumen Price in Australia (CIF) - 2023
The average petroleum bitumen import price stood at $583 per ton in September 2023, picking up by 3% against the previous month. Over the period from September 2022 to September 2023, it increased at an average monthly rate of +1.9%. The pace of growth was the most pronounced in December 2022 an increase of 19% month-to-month. Over the period under review, average import prices attained the maximum at $609 per ton in March 2023; however, from April 2023 to September 2023, import prices failed to regain momentum.
Average prices varied somewhat amongst the major supplying countries. In September 2023, the countries with the highest prices were China ($627 per ton) and Thailand ($601 per ton), while the price for Malaysia ($501 per ton) and Singapore ($564 per ton) were amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Thailand (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Petroleum Bitumen Price in Australia (FOB) - 2022
In 2022, the average petroleum bitumen export price amounted to $1,280 per ton, increasing by 242% against the previous year. Overall, the export price saw a buoyant expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
As there is only one major export destination, the average price level is determined by prices for New Caledonia.
From 2012 to 2022, the rate of growth in terms of prices for Malaysia amounted to -10.4% per year.
Petroleum Bitumen Imports in Australia
In 2022, after three years of growth, there was significant decline in purchases abroad of petroleum bitumen, when their volume decreased by -28% to 901K tons. In general, total imports indicated a notable increase from 2019 to 2022: its volume increased at an average annual rate of +2.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +6.5% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 39%. As a result, imports attained the peak of 1.3M tons, and then fell notably in the following year.
In value terms, petroleum bitumen imports rose rapidly to $498M in 2022. The total import value increased at an average annual rate of +6.9% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 25% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.
| Import of Petroleum Bitumen in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Singapore | 83.1 | 61.9 | 62.3 | 169 | 26.7% |
| China | 56.2 | 64.3 | 69.9 | 89.9 | 17.0% |
| Thailand | 64.0 | 60.2 | 61.6 | 83.3 | 9.2% |
| Malaysia | 36.3 | 42.3 | 44.8 | 77.0 | 28.5% |
| South Korea | 89.3 | 67.2 | 55.5 | 53.1 | -15.9% |
| Taiwan (Chinese) | 25.2 | 17.3 | 12.7 | 22.1 | -4.3% |
| Bahrain | 17.6 | 12.4 | 0.4 | 0.1 | -82.2% |
| Others | 36.0 | 47.0 | 158 | 3.1 | -55.8% |
| Total | 408 | 373 | 465 | 498 | 6.9% |
Top Suppliers of Petroleum Bitumen to Australia in 2022:
- Singapore (318.3K tons)
- China (158.9K tons)
- Thailand (154.0K tons)
- Malaysia (133.5K tons)
- South Korea (93.0K tons)
- Taiwan (Chinese) (38.8K tons)
- Bahrain (0.2K tons)
Petroleum Bitumen Exports in Australia
In 2022, petroleum bitumen exports from Australia soared to 200 tons, picking up by 77% on 2021. Overall, exports recorded significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, petroleum bitumen exports skyrocketed to $256K in 2022. Over the period under review, exports showed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Petroleum Bitumen in Australia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Caledonia | 0.3 | 0.5 | 0.6 | 256 | 848.5% |
| New Zealand | 16.3 | 17.7 | 13.9 | N/A | -7.7% |
| China | 31.4 | 20.7 | 6.0 | N/A | -56.3% |
| Christmas Island | 3.0 | 4.2 | 5.1 | N/A | 30.4% |
| Malaysia | 7.3 | 6.8 | 4.5 | N/A | -21.5% |
| Others | 4.2 | 2.7 | 12.4 | N/A | 71.8% |
| Total | 62.5 | 52.5 | 42.4 | 256 | 60.0% |
Top Export Markets for Petroleum Bitumen from Australia in 2022:
- New Caledonia (200.0 tons)
This report provides an in-depth analysis of the petroleum bitumen market in Australia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
Country coverage:
- Australia
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Australia
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
-
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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