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Top Import Markets for Petroleum Bitumen

petroleum

Top Import Markets for Petroleum Bitumen

When it comes to the global trade of petroleum bitumen, several countries dominate the import market. These nations have high demand for this essential component of asphalt and road construction, making them crucial players in the world’s bitumen trade. In this article, we will explore the top import markets for petroleum bitumen, providing key statistics and insights into their import volumes and values.

The IndexBox Market Intelligence Platform

Before diving into the details, it is important to mention the IndexBox market intelligence platform. This platform provides accurate and up-to-date information on global trade dynamics, offering valuable insights for businesses and organizations in various industries. By harnessing the power of IndexBox’s data, we can better understand the import market for petroleum bitumen.

1. United States

The United States is the leading importer of petroleum bitumen in the world, with an import value of $3.0 billion in 2022. This high demand for bitumen is driven by the country’s extensive infrastructure development and road construction projects. The United States relies heavily on asphalt for its transportation network, making it a key market for petroleum bitumen suppliers.

2. China

China follows closely behind the United States as the second-largest importer of petroleum bitumen. In 2022, China’s import value reached $1.5 billion. The country’s rapid urbanization and infrastructure expansion contribute to its significant demand for bitumen. China’s massive road construction projects and maintenance activities necessitate a continuous supply of high-quality bitumen.

3. India

India emerges as the third-largest import market for petroleum bitumen, with an import value of $1.2 billion in 2022. The Indian government’s focus on developing its transportation infrastructure, especially road networks, drives the demand for bitumen in the country. Additionally, India’s growing population and expanding urban areas require extensive road construction, further boosting the import market for petroleum bitumen.

4. France

France ranks fourth in the world in terms of import value of petroleum bitumen. In 2022, the country imported approximately $559.5 million worth of bitumen. France’s advanced road network and maintenance activities contribute to its significant bitumen imports. The country’s commitment to sustainability and green initiatives also drives the demand for high-quality bitumen.

5. Indonesia

Indonesia occupies the fifth spot among the world’s top import markets for petroleum bitumen. The country imported approximately $522.4 million worth of bitumen in 2022. Indonesia’s booming construction sector, coupled with extensive infrastructure development, propels its demand for bitumen. The country’s large-scale road projects and government investments contribute to the growth of its bitumen import market.

6. Vietnam

Vietnam emerges as another significant importer of petroleum bitumen, with an import value of $505.7 million in 2022. The country’s rapid economic growth and infrastructure development drive the demand for bitumen. Vietnam’s transportation and construction sectors rely heavily on high-quality bitumen, making it an attractive market for suppliers.

7. Australia

Australia ranks seventh in the world in terms of the import value of petroleum bitumen, reaching $497.8 million in 2022. The country’s vast road network, maintenance activities, and ongoing infrastructure projects contribute to its substantial bitumen imports. Australia’s harsh weather conditions also require durable and reliable bitumen, further enhancing its import demand.

8. Algeria

Algeria holds the eighth position among the world’s leading import markets for petroleum bitumen, with an import value of $480.5 million in 2022. The country’s infrastructure development and extensive road construction projects fuel its demand for bitumen. Algeria’s commitment to modernizing its transportation network and improving connectivity drives the import market for petroleum bitumen.

9. Turkey

Turkey is another noteworthy importer of petroleum bitumen, with an import value of $464.6 million in 2022. The country’s strategic location as a bridge between Europe and Asia makes it a critical transportation hub. Turkey’s ongoing infrastructure projects, including road expansions and upgrades, contribute to the demand for bitumen, strengthening its position in the global import market.

10. United Kingdom

The United Kingdom completes the list of the world’s top import markets for petroleum bitumen. In 2022, the country imported approximately $458.3 million worth of bitumen. The UK’s extensive road network, maintenance efforts, and ongoing construction projects drive its demand for high-quality bitumen. Additionally, the country’s commitment to sustainable infrastructure development further fuels its import market.

Conclusion

The import market for petroleum bitumen is heavily influenced by countries with significant infrastructure development, urbanization, and ongoing road construction projects. The United States leads the pack as the largest importer of bitumen, followed closely by China and India. Other important import markets include France, Indonesia, Vietnam, Australia, Algeria, Turkey, and the United Kingdom. These countriesgrowing demand for bitumen creates opportunities for suppliers to meet their construction and infrastructure needs. By leveraging the insights provided by the IndexBox market intelligence platform, businesses can make informed decisions and effectively navigate the global bitumen trade.

Source: IndexBox Market Intelligence Platform  

GT Podcast Episode 127 Cover Art

GT Podcast – Episode 127 – North Carolina Ports – What it Takes to be North America’s #1 Most Productive Port

In GT Podcast – Episode 127 of Logistically Speaking, we will speak with North Carolina Ports Executive Director, Brian Clark.  We will learn why North Carolina Ports has seized the #1 spot in North America for productivity, what advantages the port offers from an intermodal side of business, and why the heck are things turning so cold at the ports and businesses are loving it!

For more information on North Carolina Ports, visit https://ncports.com/

Check out more of our GT Podcast – Logistically Speaking Series and more here!

rare earth

Expanding the Supply Chain for Rare Earth Materials

From cars and construction equipment to cell phones and military weapons, rare earth materials are critical to manufacturing many important things businesses and consumers use on a daily basis. While people around the world rely on these minerals in their everyday lives, China produces 80% of the U.S. rare earths and has been doing so for quite some time.1 What’s made things even worse over the past 12 to 18 months is a global pandemic. Many consumers stuck at home decided that their current cell phone or computer needed to be replaced, which ultimately caused a shortage of these materials that is affecting various other sectors including the automotive and electronic industries 

Expanding the supply chain means the production of at least 17 minerals indispensable to manufacturing both consumer and government necessities would not be solely sourced from China.2 However, this won’t happen overnight. The process of having a fully diversified supply chain is several years away due to the planning, process and permitting it takes to both open a mine and build a factory. 

New Rare Earth Production Will Open the Global Supply Chain 

Fortunately, new entrants into the market have begun mining projects throughout the world that are mining for tungsten, one rare earth particularly in demand for important items. This is extremely important as China has limited the amount of tungsten exports that can be shipped to the U.S., which has caused a great deal of concern regarding the overall supply chain of this rare material.  

Tungsten is used in the construction and content of both semiconductors and anodes. It’s also used in a wide array of products from the filament of light bulbs, electric furnaces, and X-rays for medical and industrial imaging, to lead-free fishing weights and golf clubs, and drill bits and saw blades.3 In fact, tungsten is also used for the production of glass syringes – a product that has become very high in demand during a global pandemic that relies on the worldwide distribution of vaccines.4  

This is why it’s imperative to diversify the supply chain for rare earth materials like tungsten. Efforts made by new mining projects throughout the world will increase both supply levels and exports back to or within the U.S., which will benefit the overall supply chain of tungsten for production and manufacturing.  

One mining project in South Korea is of particular importance. The Korea Tungsten project in the Sangdong Mine hosts one of the largest tungsten resources in the world. This mine was the leading global tungsten provider for more than 40 years and has the potential to produce 50% of the world’s tungsten supply. The project is steadily becoming the center of focus for resource experts, miners, investors, shareholders around the globe.  

What the Future Holds for the U.S. 

President Biden is working hard toward a significant infrastructure plan that is also meant to serve as 50% cut in emissions by 2030.5 The infrastructure proposal includes $174 billion in spending to create electric vehicle charging stations in addition to other roadway enhancements while also touting both tax incentives for electronic vehicle battery makers for building factories and the creation of new manufacturing jobs in the U.S. However, 70% of the world’s EV batteries are still currently built in China because that’s where most of the materials used to build them are located.5 Until the new rare earth production players are up-and-running in mining and manufacturing, there remains an immediate issue for those working in the coal mining and traditional auto manufacturing industries when it comes to making a pivot in their careers to clean energy sector that is to come in the U.S.  

Even so, the future of mining and manufacturing rare earths remains to be seen in the U.S. While China dominates a majority of rare earth mining and manufacturing, their domination didn’t happen overnight. For approximately 30 years, China has been building its supply chain in addition to re-evaluating it every one to five years. With export restrictions to the U.S. now hindering the demand of popular consumer goods and materials, it’s important for the U.S. and other countries around the world to evolve and diversify their own supply sources, but it will take time to make the change. 

Editor’s Note: Lewis Black is CEO of Almonty Industries, a leading global company involved in the mining, processing, and shipping of tungsten concentrate. For more information please visit www.almonty.com. 

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Sources: 
1: https://www.wsj.com/video/tech-companies-depend-on-china-for-rare-earths-can-that-change/674228C1-D75A-4598-8597-D68108CDA45F.html  
2: https://www.eetimes.com/china-will-dominate-rare-earth-supply-for-decades/  
3: https://sciencing.com/info-8363311-things-made-out-tungsten.html  
4: http://ipimediaworld.com/wp-content/uploads/2017/10/Tungsten-in-the-production-1.pdf  
5: https://www.nytimes.com/2021/04/24/business/bidens-climate-change.html  

cider

Global Cider, Perry, and Mead Market – South Africa Has Overtaken South Korea as the World’s Largest Exporter

IndexBox has just published a new report: ‘World – Cider, Perry, Mead And Other Fermented Beverages – Market Analysis, Forecast, Size, Trends And Insights’. Here is a summary of the report’s key findings.

South Africa has overtaken South Korea as the world’s largest exporter of cider, perry, mead and other fermented beverages. In 2018, shipments from each country amounted to approximately 108 million liters. South Korea has long been a world leader in cider exports, but its supply has been rapidly declining, and as a result, it has halved over the past five years. In contrast, South Africa, by offering products at the lowest prices, increased its shipments to other countries.

Global Trade of Cider, Perry, and Mead 2014-2018

In 2018, approx. 1.1B litres of cider, perry, mead and other fermented beverages were exported worldwide; coming down by -2.8% against the previous year. Over the period under review, cider, perry and mead exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when exports increased by 0.7% y-o-y. In that year, global cider, perry and mead exports reached their peak of 1.2B litres, and then declined slightly in the following year.

In value terms, cider, perry and mead exports stood at $1.5B (IndexBox estimates) in 2018.

Exports by Country

The countries with the highest levels of cider, perry and mead exports in 2018 were South Africa (108M litres), South Korea (108M litres), Sweden (102M litres), Germany (76M litres), Ireland (73M litres), the UK (66M litres), Belgium (59M litres), the Netherlands (53M litres), France (44M litres), Italy (41M litres), Lithuania (37M litres) and Japan (36M litres), together accounting for 71% of total export.

From 2014 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by the UK, while exports for the other global leaders experienced more modest paces of growth.

In value terms, the largest cider, perry and mead supplying countries worldwide were Japan ($210M), Sweden ($134M) and Italy ($112M), with a combined 30% share of global exports.

Among the main exporting countries, Japan recorded the highest rates of growth with regard to the value of exports, over the period under review, while exports for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the average cider, perry and mead export price amounted to $1.3 per litre, growing by 7.8% against the previous year.

Prices varied noticeably by the country of origin; the country with the highest price was Japan ($5.8 per litre), while South Africa ($0.6 per litre) was amongst the lowest.

From 2014 to 2018, the most notable rate of growth in terms of prices was attained by Japan, while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox AI Platform

chocolate

The Market For Filled Chocolate Bars in the EU Overcame $3.5B

IndexBox has just published a new report: ‘EU – Chocolate Bars With Fillings – Market Analysis, Forecast, Size, Trends And Insights’. Here is a summary of the report’s key findings.

The revenue of the chocolate bars with filling market in the European Union amounted to $3.6B in 2018, surging by 3.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). Over the last three years, the market indicated a gradual but consistent growth both in value terms and in physical terms.

Consumption By Country in the EU

Germany (271K tonnes) remains the largest chocolate bar with filling consuming country in the European Union, comprising approx. 32% of total volume. Moreover, the volume of consumption in Germany exceeded the figures recorded by the second-largest consumer, Italy (108K tonnes), threefold. The UK (101K tonnes) ranked third in terms of total consumption with a 12% share.

From 2007 to 2018, the average annual rate of growth in terms of volume in Germany totaled +2.6%. The remaining consuming countries recorded the following average annual rates of consumption growth: Italy (+7.6% per year) and the UK (-4.4% per year).

In value terms, the largest chocolate bar with filling markets in the European Union were Germany ($963M), Italy ($756M) and the UK ($411M), with a combined 59% share of the total market. These countries were followed by France, the Netherlands, Poland, Romania, Sweden, Denmark, the Czech Republic and Spain, which together accounted for a further 27%.

The countries with the highest levels of chocolate bar with filling per capita consumption in 2018 were Germany (3,313 kg per 1000 persons), Denmark (2,703 kg per 1000 persons) and the Netherlands (2,165 kg per 1000 persons).

Market Forecast 2019-2025 in the EU

Driven by increasing demand for chocolate bars with filling in the European Union, the market is expected to continue an upward consumption trend over the next seven-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +0.7% for the period from 2018 to 2025, which is projected to bring the market volume to 881K tonnes by the end of 2025.

Production in the EU

The volume of production of chocolate bars with filling in the EU stood at 937K tonnes in 2018, going up by 5.1% against the previous year. Overall, the volume of production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 9.5% against the previous year. In that year, chocolate bars with filling production reached its peak volume of 968K tonnes. From 2015 to 2018, chocolate bars with filling production growth failed to regain its momentum.

Production By Country in the EU

Germany (386K tonnes) remains the largest chocolate bars with filling producing country in the European Union, comprising approx. 41% of total volume. Moreover, the volume of production in Germany exceeded the figures recorded by the second-largest producer, the Netherlands (178K tonnes), twofold. The third position in this ranking was occupied by Italy (108K tonnes), with a 12% share.

From 2007 to 2018, the average annual rate of growth in terms of volume in Germany amounted to +3.7%. The remaining producing countries recorded the following average annual rates of production growth: the Netherlands (+0.5% per year) and Italy (+9.1% per year).

Exports in the EU

In 2018, approx. 649K tonnes of chocolate bars with fillings were exported in the European Union; jumping by 4.6% against the previous year. The total exports indicated a tangible increase from 2007 to 2018: its volume increased at an average annual rate of +3.3% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the volume of exports attained its maximum in 2018 and isexpected to retain its growth in the immediate term. In value terms, chocolate bars with filling exports stood at $3.4B (IndexBox estimates) in 2018.

Exports by Country

Germany (197K tonnes) and the Netherlands (185K tonnes) represented roughly 59% of total exports of chocolate bars with fillings in 2018. Poland (43K tonnes) occupied a 6.6% share (based on tonnes) of total exports, which put it in second place, followed by Austria (6.5%). Belgium (26K tonnes), the UK (21K tonnes), Italy (20K tonnes), Spain (17K tonnes), France (15K tonnes), Hungary (13K tonnes), the Czech Republic (12K tonnes) and Bulgaria (10K tonnes) occupied a relatively small share of total exports.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Bulgaria, while exports for the other leaders experienced more modest paces of growth.

In value terms, the largest chocolate bars with filling supplying countries in the European Union were Germany ($1.3B), the Netherlands ($813M) and Poland ($200M), together comprising 66% of total exports. These countries were followed by Italy, Austria, Belgium, the UK, France, Spain, Hungary, the Czech Republic and Bulgaria, which together accounted for a further 25%.

Export Prices by Country

In 2018, the average export price for chocolate bars with filling in the European Union amounted to $5,297 per tonne, jumping by 3% against the previous year. Over the period from 2007 to 2018, it increased at an average annual rate of +1.6%.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was Italy ($7,684 per tonne), while Austria ($3,567 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by France, while the other leaders experienced more modest paces of growth.

Imports in the EU

In 2018, the amount of chocolate bars with fillings imported in the European Union stood at 553K tonnes, increasing by 5.2% against the previous year. The total imports indicated a remarkable expansion from 2007 to 2018: its volume increased at an average annual rate of +4.2% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. In value terms, imports  of chocolate bars with filling totaled $2.6B (IndexBox estimates) in 2018.

Imports by Country

The imports of the five major importers of chocolate bars with fillings, namely the UK, Germany, France, the Netherlands and Poland, represented more than half of total import. Belgium (22K tonnes), Romania (21K tonnes), Italy (21K tonnes), Sweden (20K tonnes), Austria (18K tonnes), Hungary (15K tonnes) and Denmark (15K tonnes) held a relatively small share of total imports.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Poland, while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest importing markets for chocolate bars with filling in the European Union were the UK ($366M), Germany ($359M) and France ($294M), together comprising 39% of total imports. These countries were followed by the Netherlands, Poland, Italy, Sweden, Belgium, Austria, Romania, Denmark and Hungary, which together accounted for a further 41%.

Import Prices by Country

The average import price for chocolate bars with filling in the European Union stood at $4,727 per tonne in 2018, rising by 3.5% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern.

Average prices varied somewhat amongst the major importing countries. In 2018, the major importing countries recorded the following average prices: in Italy ($5,759 per tonne) and Sweden ($5,656 per tonne), while Hungary ($4,010 per tonne) and the UK ($4,028 per tonne) were amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Italy, while the other leaders experienced more modest paces of growth.

Source: IndexBox AI Platform

Global Ginger Market 2019 – U.S. Imports Increases Robustly, Turning The Country Into The Most Promising Market

IndexBox has just published a new report: ‘World – Ginger – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The global ginger market revenue amounted to $5.3B in 2018, jumping by 2.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). Over the period under review, ginger consumption continues to indicate a strong growth. The pace of growth appeared the most rapid in 2011, when the market value increased by 53% y-o-y. Global ginger consumption peaked at $5.6B in 2016; however, from 2017 to 2018, consumption failed to regain its momentum.

Production 2007-2018

In 2018, approx. 3.3M tonnes of ginger were produced worldwide; surging by 6.7% against the previous year. Over the period under review, the total output indicated a remarkable expansion from 2007 to 2018: its volume increased at an average annual rate of +6.5% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, the ginger production increased by +42.8% against 2014 indices.

Exports 2007-2018

In 2018, the amount of ginger exported worldwide stood at 564K tonnes, reducing by -15.1% against the previous year. Overall, the total exports indicated a temperate expansion from 2007 to 2018: its volume increased at an average annual rate of +2.5% over the last eleven year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, the ginger exports decreased by -16.9% against 2016 indices. In value terms, ginger exports amounted to $754M (IndexBox estimates) in 2018.

Exports by Country

China dominates ginger exports structure, accounting for 390K tonnes, which was near 69% of total exports in 2018. It was distantly followed by Thailand (54K tonnes), achieving 9.7% share of total exports. Peru (21K tonnes), India (21K tonnes), Brazil (15K tonnes) and the Netherlands (13K tonnes) took a relatively small share of total exports.

From 2007 to 2018, average annual rates of growth with regard to ginger exports from China stood at +3.4%. At the same time, Peru (+49.2%), India (+7.2%), Brazil (+7.0%), the Netherlands (+3.3%) and Thailand (+1.9%) displayed positive paces of growth. Moreover, Peru emerged as the fastest growing exporter in the world, with a CAGR of +49.2% from 2007-2018. China (+21 p.p.), Peru (+3.7 p.p.), India (+2 p.p.) and Thailand (+1.8 p.p.) significantly strengthened its position in terms of the global exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($490M) remains the largest ginger supplier worldwide, comprising 65% of global exports. The second position in the ranking was occupied by Thailand ($56M), with a 7.5% share of global exports. It was followed by Peru, with a 5.6% share.

Export Prices by Country

The average ginger export price stood at $1,336 per tonne in 2018, going up by 15% against the previous year. In general, the ginger export price continues to indicate a remarkable expansion. Export prices varied noticeably by the country of origin; the country with the highest export price was Peru ($1,989 per tonne), while Thailand ($1,033 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of export prices was attained by China, while the other global leaders experienced more modest paces of growth.

Imports 2007-2018

In 2018, the amount of ginger imported worldwide amounted to 645K tonnes, shrinking by -8.3% against the previous year.

In value terms, ginger imports totaled $823M (IndexBox estimates) in 2018. Overall, ginger imports, however, continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2010, with an increase of 49% against the previous year. Over the period under review, global ginger imports attained their maximum at $987M in 2014; however, from 2015 to 2018, imports failed to regain their momentum.

Imports by Country

In 2018, the U.S. (89K tonnes), Japan (68K tonnes), the Netherlands (60K tonnes), the United Arab Emirates (47K tonnes), Pakistan (46K tonnes), Malaysia (45K tonnes), Bangladesh (42K tonnes), Saudi Arabia (28K tonnes), the UK (26K tonnes), India (24K tonnes) and Germany (23K tonnes) were the largest importers of ginger in the world, committing 77% of total import. Yemen (12K tonnes) occupied a little share of total imports.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by India, while the other global leaders experienced more modest paces of growth.

In value terms, the U.S. ($125M), Japan ($107M) and the Netherlands ($83M) constituted the countries with the highest levels of imports in 2018, with a combined 38% share of global imports. These countries were followed by Pakistan, Germany, the UK, the United Arab Emirates, Malaysia, Saudi Arabia, India, Yemen and Bangladesh, which together accounted for a further 38%.

Import Prices by Country

In 2018, the average ginger import price amounted to $1,275 per tonne, growing by 11% against the previous year. Overall, the import price indicated a remarkable growth from 2007 to 2018: its price increased at an average annual rate of +5.1% over the last eleven year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, the ginger import price increased by +33.3% against 2016 indices. There were significant differences in the average import prices amongst the major importing countries. In 2018, the country with the highest import price was Germany ($2,672 per tonne), while Bangladesh ($279 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of import prices was attained by Pakistan, while the other global leaders experienced more modest paces of growth.

Source: IndexBox AI Platform