We are going to introduce to you the top leading countries which are actively exporting bitumen.
- Iran
With unprecedented volumes of bitumen supplied to the AMEA Region in the year 2020, Iran establishes itself as the world's leading bitumen exporter. Iran, South Korea, and Singapore are the countries that export the most bitumen. Iran exported around 4 million tons of bitumen in 2020, whereas South Korea exported 3.12 million tons of bitumen and Singapore exported 2.7 million tons of bitumen during the same year. These record volumes were supplied to significant regional purchasers located all around Asia, the Middle East, and Africa. At the Petrosil 6th AMEA Bitumen Conference, which will take place in Dubai on October 27, 2021, during Expo 2020 and at the beginning of the region's peak demand season, the leading Iranian bitumen producers and merchants will be present. Hormozan Oil, Petro Sanat Hormozan, Hiwa Oil, Bituco Group, Ethicon Impex, Signify, Infinity Galaxy, and Oxin Trade are just a few of the early participants that have been confirmed.
- Singapore
The amount of bitumen that Singapore exported in February increased by 25% to a total of 235,000 tons, and shipments went to China, Indonesia, Thailand, and Malaysia. During the time period of January to February 2021, Singapore was responsible for the export of 42, 4826 MT of bitumen. Bitumen was shipped out of the nation at a rate of 189084 MT in January 2021 and 235742 MT in February 2021. During the month of January 2020, Singapore was responsible for the export of 48, 9727 MT of bitumen. Our team conducted an examination of the data and found that the country's exports dropped by 13% from January to February 2021 when compared to the same time period the previous year, which was January to February 2020. In comparison to the previous month, namely January 2021, exports from the country increased by 25% in the month of February 2021. On the other hand, exports from the country decreased by 23% in January 2021 when compared to December 2020 exports. The amount of bitumen exported from Singapore in February 2021 fell by 10% as compared to the same month the previous year, i.e. February 2020. In the month of February 2021, Singapore was responsible for the export of 235742 MT of bitumen. The country exported the majority of its bitumen to various countries, including 88366 MT (37%) to China, 48090 MT (20%) to Indonesia, 23947 MT (10%) to Thailand, 21789 MT (9%) to Malaysia, 21142 MT (9%) to Australia, 18118 MT (8%) to Vietnam, 5651 MT (2%) to Taiwan, 5231 MT (2%) to the Philippines, 2982 MT (1%) to Bangladesh, and 426 MT to Other countries.
- Thailand
February saw a year-on-year increase in exports of bitumen from Thailand to Cambodia of 35%, at 5130 tons. The amount of bitumen that Cambodia imported from Thailand for the month of January to February 2021 was 10,467 MT. In January 2021, the nation brought in 5330 MT of bitumen, while in February 2021, it brought in 5137 MT. Between January and February of the year 2020, Cambodia brought in a total of 6,846 metric tons of bitumen from Thailand. According to the findings of the data analysis conducted by our group, the country's imports climbed by 53% during the month of January 2021 compared to the same month of the previous year, i.e. January to February 2020. This growth was observed over the first two months of 2021. In the month of February 2021, the country's total imports were 4% lower than they were in the previous month, which was January 2021. In February 2021, the amount of bitumen that Cambodia imported from Thailand was 35% higher than it was during the same time period the previous year, in February 2020.
- India
The months of January and February 2021 saw a total consumption of 1.40 million MT of bitumen by India. In January 2021, the use of bitumen was 676,000 MT, whereas in February 2021, it increased to 724,000 MT. The months of January and February of 2020 saw India's use of 1.51 million MT of bitumen. According to the findings of the data analysis conducted by our group, the amount of bitumen consumed in India during the month of January 2021 was 7% lower than the amount consumed during the same month the previous year, namely January to February 2020. In February 2021, the amount of bitumen that India consumed was higher by 7% when compared to the previous month, which was January 2021. In February 2021, the amount of bitumen that was consumed in India was down by 11% as compared to the same month the previous year, i.e. February 2020.
- The Republic of Korea (South)
Since the beginning of the year, the price of FOB bitumen in South Korea has increased by 25%. Current FOB bitumen bulk prices in South Korea can be found anywhere between USD 385 and USD 395 PMT. In comparison to rates from the previous week, these prices have decreased by USD 10 PMT. Prices for bitumen exported FOB from South Korea were reported to be USD 315 PMT on average in January 2021; however, prices continued to rise and were reported to be USD 355 PMT in February and USD 410 PMT in March 2021 respectively. When compared to the pricing of the previous month, those of the current month (early April 2021), the price of the product has decreased by USD 20 PMT (or 5%), and is now stated to be USD 390 PMT. When compared to the same month the previous year, April 2020, the cost of goods and services has increased by USD 205 PMT, or 111%. In April 2021, prices were USD 75 PMT higher than they were in January 2021, representing a 24 percent rise.
- UAE
The United Arab Emirates' bitumen exports to India dropped by 25% in February to 111,300 tons. The United Arab Emirates supplied India with 26, 2339 metric tons (MT) of bitumen during the month of January to February 2021. In the month of January 2021, the nation brought in 150985 MT of bitumen, while in the month of February 2021, it brought in 111354 MT. The United Arab Emirates was the source of 1, 63, 553 metric tons of bitumen that India imported between January and February of 2020. According to the findings of the data analysis conducted by our group, the country's imports have climbed by a factor of sixty percent during the months of January and February of 2021, as compared to the same months of the previous year, namely January and February of 2020. In February 2021, the amount of bitumen imported from the UAE decreased by 26% as compared to the previous month, which was January 2021. The amount of bitumen that was imported from the UAE in February 2021 saw a three percent increase over the same month the previous year, i.e. February 2020.