Bitumen and asphalt, natural: asphaltites and asphaltic rock

In 2024, bitumen and asphalt, natural: asphaltites and asphaltic rock trade exhibited significant decline, with global flows reaching $505,649,140 and a three-year compound annual growth rate of -14.3% (five-year: -6.3%). The all-time peak of $1,274,799,994 was recorded in 2014; the current level is 60% below that high-water mark.

Over the 30-year observation window (1995–2024), 55% of years recorded positive growth, indicating a mildly upward trajectory with periodic contractions. Trend momentum is decelerating (-5.4% acceleration).

The World Trade Flows Characterization classifies bitumen and asphalt, natural: asphaltites and asphaltic rock as "One-way trade" in the unclassified price segment, providing additional context for market positioning and competitive dynamics.

The supply side is diversified (Herfindahl-Hirschman Index 0.066). The three largest exporters — Venezuela ($242.4M), United States ($100.4M), and Iraq ($54.3M) — collectively dominate supply flows. The leading exporter has grown at +14.9% over the last three years.

On the demand side, importer concentration is diversified (HHI 0.041). The three largest import markets are United States ($40.9M), United Kingdom ($40.0M), and Vietnam ($38.1M). The largest importing market sources from 20 different supplying countries.

The dominant trade corridor is United States → United Kingdom at $37.8M, representing 94.4% of the importer's total demand.

The volatility score for bitumen and asphalt, natural: asphaltites and asphaltic rock is 14 out of 100, classified as low. Trade flows are relatively stable compared to other HS6 products, suggesting mature supply chains and predictable demand.

For market entrants, contracting demand signals caution before committing resources. The diversified supply landscape means many competitors but also multiple entry points and buyer relationships to target.

Data confidence is rated "High" based on reporting coverage and consistency across OECD member and partner countries.