Africa: Market for Natural Bitumen and Asphalt 2024

Market Size for Natural Bitumen and Asphalt in Africa

The African natural bitumen and asphalt market fell to $X in 2023, stabilizing at the previous year. The total consumption indicated a pronounced expansion from 2012 to 2023: its value 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, consumption decreased by X% against 2021 indices. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Production of Natural Bitumen and Asphalt in Africa

In value terms, natural bitumen and asphalt production totaled $X in 2023 estimated in export price. The total production indicated a notable expansion from 2012 to 2023: its value 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, production increased by X% against 2016 indices. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. The level of production peaked in 2023 and is expected to retain growth in years to come.

Exports of Natural Bitumen and Asphalt

Exports in Africa

In 2023, exports of natural bitumen and asphalt in Africa was estimated at X tons, surging by X% on the previous year's figure. In general, exports, however, continue to indicate a drastic downturn. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

In value terms, natural bitumen and asphalt exports reached $X in 2023. Overall, exports, however, saw a abrupt shrinkage. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

South Africa represented the major exporting country with an export of about X tons, which resulted at X% of total exports. Swaziland (X tons) ranks second in terms of the total exports with a X% share, followed by Cote d'Ivoire (X%) and Morocco (X%).

From 2012 to 2023, average annual rates of growth with regard to natural bitumen and asphalt exports from South Africa stood at X%. At the same time, Swaziland (X%) displayed positive paces of growth. Moreover, Swaziland emerged as the fastest-growing exporter exported in Africa, with a CAGR of X% from 2012-2023. By contrast, Cote d'Ivoire (X%) and Morocco (X%) illustrated a downward trend over the same period. Swaziland (X p.p.) and Cote d'Ivoire (X p.p.) significantly strengthened its position in terms of the total exports, while Morocco and South Africa saw its share reduced by X% and X% from 2012 to 2023, respectively.

In value terms, South Africa ($X) remains the largest natural bitumen and asphalt supplier in Africa, comprising X% of total exports. The second position in the ranking was held by Swaziland ($X), with a X% share of total exports. It was followed by Cote d'Ivoire, with an X% share.

In South Africa, natural bitumen and asphalt exports plunged by an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Swaziland (X% per year) and Cote d'Ivoire (X% per year).

Export Prices by Country

In 2023, the export price in Africa amounted to $X per ton, shrinking by X% against the previous year. Export price indicated a mild expansion from 2012 to 2023: its price 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, natural bitumen and asphalt export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of X%. The level of export peaked at $X per ton in 2022, and then shrank in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Cote d'Ivoire ($X per ton) and Swaziland ($X per ton), while South Africa ($X per ton) and Morocco ($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 more modest paces of growth.

Imports of Natural Bitumen and Asphalt

Imports in Africa

Natural bitumen and asphalt imports declined remarkably to X tons in 2023, with a decrease of X% against the previous year. Over the period under review, imports recorded a noticeable shrinkage. The growth pace was the most rapid in 2018 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2023, imports remained at a lower figure.

In value terms, natural bitumen and asphalt imports rose modestly to $X in 2023. Overall, imports showed a deep setback. The pace of growth appeared the most rapid in 2018 when imports increased by X%. The level of import peaked at $X in 2014; however, from 2015 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, Ethiopia (X tons) was the key importer of natural bitumen and asphalt, making up X% of total imports. Kenya (X tons) ranks second in terms of the total imports with a X% share, followed by Niger (X%), Zimbabwe (X%), Botswana (X%), Namibia (X%) and Nigeria (X%). The following importers - Mayotte (X tons), Algeria (X tons), Burundi (X tons), Uganda (X tons), South Africa (X tons) and Mauritius (X tons) - together made up X% of total imports.

Imports into Ethiopia decreased at an average annual rate of X% from 2012 to 2023. At the same time, Niger (X%), Zimbabwe (X%), Nigeria (X%), Algeria (X%), Burundi (X%) and Mayotte (X%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing importer imported in Africa, with a CAGR of X% from 2012-2023. Namibia experienced a relatively flat trend pattern. By contrast, Kenya (X%), Botswana (X%), Uganda (X%), South Africa (X%) and Mauritius (X%) illustrated a downward trend over the same period. While the share of Niger (X p.p.), Zimbabwe (X p.p.), Kenya (X p.p.), Nigeria (X p.p.), Mayotte (X p.p.), Algeria (X p.p.), Ethiopia (X p.p.), Namibia (X p.p.) and Burundi (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Mauritius (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest natural bitumen and asphalt importing markets in Africa were Ethiopia ($X), Nigeria ($X) and Zimbabwe ($X), with a combined X% share of total imports. Namibia, Niger, Botswana, Uganda, Mayotte, Mauritius, South Africa, Burundi, Algeria and Kenya lagged somewhat behind, together comprising a further X%.

Niger, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Africa amounted to $X per ton, surging by X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. Over the period under review, import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2023, import prices remained at a lower figure.

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 Nigeria ($X per ton), while Kenya ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform