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Turkey - Petroleum Bitumen - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPetroleum Bitumen Price in Turkey - 2023
Contents:
- Petroleum Bitumen Price in Turkey (FOB) - 2023
- Petroleum Bitumen Price in Turkey (CIF) - 2023
- Petroleum Bitumen Exports in Turkey
- Petroleum Bitumen Imports in Turkey
Petroleum Bitumen Price in Turkey (FOB) - 2023
In September 2023, the average petroleum bitumen export price amounted to $627 per ton, with an increase of 28% against the previous month. In general, export price indicated a prominent increase from September 2022 to September 2023: its price increased at an average monthly rate of +5.9% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2023 figures, petroleum bitumen export price increased by +53.8% against April 2023 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by the country of destination: the country with the highest price was Romania ($1,793 per ton), while the average price for exports to Morocco ($455 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+14.9%), while the prices for the other major destinations experienced more modest paces of growth.
Petroleum Bitumen Price in Turkey (CIF) - 2023
The average petroleum bitumen import price stood at $503 per ton in September 2023, growing by 7.2% against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.1%. The growth pace was the most rapid in August 2023 when the average import price increased by 14% month-to-month. The import price peaked in September 2023.
As there is only one major supplying country, the average price level is determined by prices for Iraq.
From September 2022 to September 2023, the rate of growth in terms of prices for Iraq amounted to +1.1% per month.
Petroleum Bitumen Exports in Turkey
In 2022, approx. 1.4M tons of petroleum bitumen were exported from Turkey; with an increase of 4.2% compared with 2021. In general, exports posted prominent growth. The growth pace was the most rapid in 2021 when exports increased by 99% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the near future.
In value terms, petroleum bitumen exports soared to $625M in 2022. Over the period under review, exports showed a significant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 172%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.
Export of Petroleum Bitumen in Turkey (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Egypt | 34.6 | 23.3 | 195 | 237 | 89.9% |
Spain | 66.0 | 34.3 | 96.7 | 97.6 | 13.9% |
United States | 4.7 | 34.7 | 109 | 72.9 | 149.4% |
Togo | 11.1 | 3.6 | 2.1 | 59.2 | 74.7% |
France | N/A | N/A | 6.2 | 59.2 | 854.8% |
Romania | 27.4 | 12.6 | 21.1 | 32.3 | 5.6% |
Ireland | N/A | N/A | N/A | 12.5 | 0% |
Belgium | 20.0 | 3.5 | N/A | 5.0 | -37.0% |
Malaysia | 33.1 | 21.5 | 18.2 | N/A | -25.8% |
Others | 80.1 | 43.5 | 33.3 | 49.6 | -14.8% |
Total | 277 | 177 | 481 | 625 | 31.2% |
Top Export Markets for Petroleum Bitumen from Turkey in 2022:
- Egypt (518.1K tons)
- Spain (214.0K tons)
- United States (153.9K tons)
- Togo (140.7K tons)
- France (128.7K tons)
- Romania (71.8K tons)
- Ireland (30.3K tons)
- Belgium (14.0K tons)
Petroleum Bitumen Imports in Turkey
In 2022, overseas purchases of petroleum bitumen decreased by -1.2% to 1M tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 102%. As a result, imports attained the peak of 1M tons, and then reduced in the following year.
In value terms, petroleum bitumen imports surged to $465M in 2022. In general, imports, however, recorded a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 173% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.
Import of Petroleum Bitumen in Turkey (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Iraq | 71.1 | 91.9 | 365 | 449 | 84.8% |
Azerbaijan | 2.8 | 2.7 | 6.7 | 10.4 | 54.9% |
Italy | 16.3 | 23.2 | 18.8 | 2.5 | -46.5% |
Iran | 54.7 | 22.8 | N/A | N/A | -58.3% |
Others | 4.5 | 3.5 | 3.4 | 2.6 | -16.7% |
Total | 149 | 144 | 394 | 465 | 46.1% |
Top Suppliers of Petroleum Bitumen to Turkey in 2022:
- Iraq (966.7K tons)
- Azerbaijan (24.4K tons)
- Italy (4.8K tons)
- Iran (0.1K tons)
This report provides an in-depth analysis of the petroleum bitumen market in Turkey. 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:
- Turkey
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Turkey
- 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
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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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Explore the top import markets for petroleum bitumen and their key statistics. Discover the leading countries and their import values, including the United States, China, and India. Get insights from the IndexBox market intelligence platform.