Market for Natural Bitumen and Asphalt in Chile
Market Overview
In 
, the Chilean natural bitumen and asphalt market decreased by -% to $, falling for the fourth year in a row after four years of growth. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $ in 2018; however, from 2019 to , consumption remained at a lower figure.
, the Chilean natural bitumen and asphalt market decreased by -% to $, falling for the fourth year in a row after four years of growth. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $ in 2018; however, from 2019 to , consumption remained at a lower figure.Consumption
In , consumption of natural bitumen and asphalt decreased by -% to tons, falling for the fourth year in a row after four years of growth. Overall, consumption showed a relatively flat trend pattern. Over the period under review, consumption hit record highs at tons in 2018; however, from 2019 to , consumption failed to regain momentum.
The size of the natural bitumen and asphalt market in Chile reduced to $ in , with a decrease of -% 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, consumption saw a relatively flat trend pattern. Natural bitumen and asphalt consumption peaked at $ in 2018; however, from 2019 to , consumption failed to regain momentum.
, consumption of natural bitumen and asphalt decreased by -% to tons, falling for the fourth year in a row after four years of growth. Overall, consumption showed a relatively flat trend pattern. Over the period under review, consumption hit record highs at tons in 2018; however, from 2019 to , consumption failed to regain momentum.The size of the natural bitumen and asphalt market in Chile reduced to $
in , with a decrease of -% 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, consumption saw a relatively flat trend pattern. Natural bitumen and asphalt consumption peaked at $ in 2018; however, from 2019 to , consumption failed to regain momentum.Market Forecast
Driven by rising demand for natural bitumen and asphalt in Chile, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .
In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the period from to , which is projected to bring the market volume to tons by the end of .In value terms, the market is forecast to increase with an anticipated CAGR of +
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .Market Structure
Natural bitumen and asphalt market in Chile consists almost entirely of imported products.
Trade Balance
Chile remains a net importer of natural bitumen and asphalt; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
. In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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