Bitumen Prices
Updated 2021 Prices
BITUMEN PENETRATION GRADE PRICES
The Current FOB, CFR & rack Bitumen prices for Asia, Middle East and Africa are as follows: In Iran FOB Bitumen Bulk current price reported at USD 270 – 285 PMT, while Iran FOB Bitumen drums current price reported in the range of USD 330 – 340 PMT. Bahrain FOB bitumen price remained steady as compared to last week price & current price reported at USD 300 PMT.
In Thailand FOB bitumen price hike up by USD 10 PMT as compared to last week price & current prices reported in the range of USD 320 – 330 PMT. Compared to last week prices of Singapore FOB bitumen bulk price gone up by USD 10 PMT as compared to last week price & current prices reported in the range of USD 325 – 335 PMT and Singapore FOB bitumen drums prices up by USD 10 PMT as compared to last week price & current price reported at USD 435 – 445 PMT. In Japan, FOB bitumen price increase by USD 10 PMT as compared to last week price & current prices reported at USD 325 – 335 PMT.
In Taiwan, FOB Bitumen price up by USD 15 PMT as compared to last week price & current prices reported in the range of USD 320 – 330 PMT. South Korea FOB bitumen price up by USD 20 PMT as compared to last week price & current prices reported in the range of USD 310 – 320 PMT. Vietnam North & South bitumen drums price up by USD 5 PMT as compared to last week price & current prices reported at USD 345 – 470 PMT & USD 340 – 360 PMT respectively.
South Africa bitumen rack price gone up by USD 5 PMT as compared to last week price & current prices reported in the range of USD 360 – 370 PMT. In Indonesia bitumen rack price down by USD 1 PMT as compared to last week price & current prices reported in the range of USD 428 PMT. China North, East and China South CFR bitumen prices up by roughly USD 10 – 20 PMT and current prices reported at USD 330 – 340 PMT, USD 355 – 365 PMT & USD 365 – 375 PMT
respectively. Turkey CFR bitumen prices up by USD 15 PMT and current prices reported at USD 310 – 320 PMT.
Asia Bitumen Freight rates from Singapore to South China hike up by USD 5 PMT as compared to last week rates and are in the range of USD 35 – 40 PMT. Singapore to East China rates gone up by USD 4 PMT as compared to last week rates and are hovering in the range of USD 55 – 60 PMT. While Thailand to South China freights rates up by USD 5 PMT as compared to last week freight rates & are oscillating between USD 45 – 50 PMT. Freight rates from Thailand to East china gone up by USD 5 PMT as compared to last week rates & are hovering around USD 40 – 45 PMT in the current week. Freight rates from South Korea to East china hike up by USD 3 PMT as compared to last week freight rates & rates are hovering in the range of USD 22 – 28 PMT.
Bitumen 60 70 Prices | The Year 2021
At the below table you can see updated weekly prices for bitumen 60/70 in the year 2021
Prices based on FOB Middle East USD/MT – Packing New Drum
| MONTH / WEEK | WEEK 1 | WEEK 2 | WEEK 3 | WEEK 4 |
|---|---|---|---|---|
| January | 320 USD | 320 USD | 320 USD | 330 USD |
| February | 330 USD | 335 USD | 335 USD | 335 USD |
| March | 335 USD | |||
| April |
Bitumen 80 100 Prices | The Year 2021
At the below table you can see updated weekly prices for bitumen 80/100 in the year 2021
Prices based on FOB Middle East USD/MT – Packing New Drum
| MONTH / WEEK | WEEK 1 | WEEK 2 | WEEK 3 | WEEK 4 |
|---|---|---|---|---|
| January | 320 USD | 320 USD | 320 USD | 330 USD |
| February | 330 USD | 335 USD | 335 USD | 335 USD |
| March | 335 USD | |||
| April |
Bitumen 40 50 Prices | The Year 2021
At the below table you can see updated weekly prices for bitumen 40/50 in the year 2021
Prices based on FOB Middle East USD/MT – Packing New Drum
| MONTH / WEEK | WEEK 1 | WEEK 2 | WEEK 3 | WEEK 4 |
|---|---|---|---|---|
| January | 320 USD | 320 USD | 320 USD | 330 USD |
| February | 330 USD | 335 USD | 335 USD | 335 USD |
| March | 335 USD | |||
| April |
We are a supplier of Bitumen
For more information about different grades of bitumen which we are supplying, specifications and enquiry please visit our Bitumen Product Page at the link below
BITUMEN PRICE TRENDS
Bitumen Outlook
The bitumen market is anticipated to register a CAGR of more than 4% during the forecast period. Bitumen is widely used as a binding organic material, made from the by-products of refined crude oil. Bitumen is used in road construction, as it is easy to produce, reusable, non-toxic, and a strong binder.
- Increasing road construction and repair activities and demand from commercial and domestic building constructions are augmenting the growth of the market studied.
- Increasing environmental concerns are likely to hinder the market’s growth.
- Robust growth in construction activities in the Asia-Pacific region is projected to act as an opportunity for the market in future.
Key Market Trends
Increasing Demand Due to Increasing Road Construction Activities
- Most of the bitumen consumed is processed into asphalt for road construction. Asphalt is a mixture of rock aggregates and bitumen. Bitumen serves as a binding agent and thus, is responsible for the stability of asphalt.
- Depending on the type of bitumen or composition of the mixture used, asphalt roads can be made suitable for regions with different climatic conditions or various levels of operational demands. Asphalt is also used for airport runways, parking decks, and working areas in ports.
- Roadways is one of the key sectors that determines a country’s economic growth. Roads, airport runways, and parking decks are essential services that drive the economic activity by channelizing trade and mobility. Massive investments are required that help in modernization and maintenance of these systems.
- Globally, the infrastructure sector is experiencing stable growth, as a result of increasing government spending to promote local infrastructure. In keeping pace with the growing economic activity and shifting demographic trends, spending on infrastructure activities is largely driven by developing economies in comparison to developed economies
- In developing economies in Asia-Pacific, infrastructure activities are expected to increase significantly, especially in the transportation sector, owing to increasing urbanization and shifting focus toward developing secondary sector in these countries. Furthermore, increasing economic prosperity is driving the infrastructure financing toward consumer sectors, including transportation and manufacturing, which provide and distribute raw materials for consumer goods.
- India’s recent passed budget includes expenditure on development of National Highways, including projects relating to expressways, two-laning of highways, under the National Highways Development Project, six-laning of crowded stretches of the Golden Quadrilateral, a special program for the development of road connectivity in Naxal affected areas, development of Vijayawada—Ranchi road, and for providing last mile connectivity.
- China, on the other hand, is developing New Silk Road, for which the country has already built railway lines between Addis Ababa & Djibouti, Nairobi & Mombasa, and is likely to start projects in Uganda, Rwanda, and the Democratic Republic of Congo soon.
- As these sectors have potential to fetch larger investments in near future, the governments of developing economies (such as China and India, among others) are taking initiatives by floating tenders reflecting opportunities in building infrastructure, essential for the growth of a specific sector. Furthermore, the emergence of megacities in both, emerging and developed markets, which reflects the shifting economic and demographic trends, will create enormous need for new infrastructure.
- With such development projects, the demand for bitumen is expected to be the largest in the Asia-Pacific region, followed by Europe.
Asia-Pacific Region is Expected to Dominate the Market
- Asia-Pacific region dominated the global market share. In Asia-Pacific, China is the largest economy, the growth in the country remains high, but is gradually diminishing, as the population is aging and the economy is rebalancing from investment to consumption, manufacturing to services, and external to internal demand.
- China’s 13th Five-year Plan (2016-2021) started in 2016, which was an important year for the country’s engineering, procurement, and construction (EPC) industry as it ventured into new business models, domestically and internationally.
- While the residential sector is enjoying strong recovery, the results for the office, retail, and logistics sectors have been mixed. The office markets in Tier 1 cities (including Beijing, Shanghai, and Shenzhen) generally remain healthy and continue to enjoy strong demand for office space, driven by the information technology (IT) and finance sectors.
- Beside this, significant development of rail and road infrastructure by the Chinese government, to withstand the growing industrial and service sectors, has resulted in a significant growth of the Chinese construction industry in the recent years. As the construction industry is dominated by state-owned enterprises, the increased government spending is boosting the industry in the country.
- Moreover, in order to contain the growing greenhouse gas predicaments in the country’s major cities, the country’s national climate commitment calls for 50% of all new buildings constructed by 2020 to be certified as green buildings, while its 13th Five-year Plan prioritizes building efficiency. Following these commitments, the country’s green building sector is expected to increase from 5% to 28% by 2030, representing a USD 12.9 trillion investment opportunity. This is expected to propel the market during the forecast period.
- Overall, the market is projected to grow at a high rate, owing to the rapid growth of the construction industry in the country.
Competitive Landscape
The bitumen market is fragmented with no major players having a dominant share in the market. Key players in the bitumen market include BP PLC, China Petrochemical Corporation, Exxon Mobil Corporation, Nynas AB, Shell International BV, Marathon Oil Company, Indian Oil Corporation Ltd, and Marathon Oil Company, among others.
Major Players
- BP PLC
- China Petrochemical Corporation
- Exxon Mobil Corporation
- Nynas AB
- Royal Dutch Shell