SADC: Petroleum Bitumen Market 2024

Petroleum Bitumen Market Size in SADC

In 2023, the SADC petroleum bitumen market increased by X% to $X, rising for the third consecutive year after two years of decline. The total consumption indicated a modest increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2020 indices. The level of consumption peaked in 2023 and is expected to retain growth in the immediate term.

Petroleum Bitumen Production in SADC

In value terms, petroleum bitumen production expanded sharply to $X in 2023 estimated in export price. Overall, production, however, saw a perceptible contraction. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2023, production growth remained at a lower figure.

Petroleum Bitumen Exports

Exports in SADC

In 2023, overseas shipments of petroleum bitumen decreased by X% to X tons, falling for the fourth year in a row after two years of growth. Overall, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2023, the growth of the exports failed to regain momentum.

In value terms, petroleum bitumen exports reduced sharply to $X in 2023. Over the period under review, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2014 when exports increased by X%. As a result, the exports reached the peak of $X. From 2015 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

South Africa dominates exports structure, resulting at X tons, which was near X% of total exports in 2023. Tanzania (X tons), Zambia (X tons) and Swaziland (X tons) followed a long way behind the leaders.

Exports from South Africa decreased at an average annual rate of X% from 2012 to 2023. At the same time, Zambia (X%), Tanzania (X%) and Swaziland (X%) displayed positive paces of growth. Moreover, Zambia emerged as the fastest-growing exporter exported in SADC, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Tanzania, Zambia and Swaziland increased by X, X and X percentage points, respectively.

In value terms, South Africa ($X) remains the largest petroleum bitumen supplier in SADC, comprising X% of total exports. The second position in the ranking was held by Tanzania ($X), with a X% share of total exports. It was followed by Zambia, with a X% share.

In South Africa, petroleum bitumen exports declined by an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Tanzania (X% per year) and Zambia (X% per year).

Export Prices by Country

The export price in SADC stood at $X per ton in 2023, rising by X% against the previous year. Over the period under review, the export price posted slight growth. The pace of growth was the most pronounced in 2021 when the export price increased by X%. The level of export peaked in 2023 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Swaziland ($X per ton) and South Africa ($X per ton), while Zambia ($X per ton) and Tanzania ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Africa (X%), while the other leaders experienced mixed trends in the export price figures.

Petroleum Bitumen Imports

Imports in SADC

In 2023, purchases abroad of petroleum bitumen increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports showed a moderate increase. The pace of growth was the most pronounced in 2022 with an increase of X%. Over the period under review, imports reached the maximum in 2023 and are expected to retain growth in the near future.

In value terms, petroleum bitumen imports soared to $X in 2023. Overall, imports saw a modest expansion. The pace of growth was the most pronounced in 2022 when imports increased by X%. The level of import peaked in 2023 and is likely to see steady growth in years to come.

Imports by Country

South Africa represented the main importing country with an import of about X tons, which accounted for X% of total imports. It was distantly followed by Tanzania (X tons), constituting a X% share of total imports. Mauritius (X tons), Madagascar (X tons), Mozambique (X tons), Angola (X tons), Zimbabwe (X tons), Namibia (X tons) and Democratic Republic of the Congo (X tons) held a minor share of total imports.

South Africa 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, Madagascar (X%), Mauritius (X%), Namibia (X%), Mozambique (X%), Democratic Republic of the Congo (X%), Zimbabwe (X%) and Tanzania (X%) displayed positive paces of growth. By contrast, Angola (X%) illustrated a downward trend over the same period. While the share of South Africa (X p.p.) and Madagascar (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Tanzania (X p.p.) and Angola (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported petroleum bitumen in SADC, comprising X% of total imports. The second position in the ranking was taken by Tanzania ($X), with a X% share of total imports. It was followed by Mauritius, with a X% share.

In South Africa, petroleum bitumen imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Tanzania (X% per year) and Mauritius (X% per year).

Import Prices by Country

In 2023, the import price in SADC amounted to $X per ton, surging by X% against the previous year. In general, the import price, however, continues to indicate a slight slump. The growth pace was the most rapid in 2021 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.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Zimbabwe ($X per ton), while Angola ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Namibia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform