China Bitumen Export Volume Statistics
Last updated: 2026-10-05
China exported 4.87 million metric tons of bitumen in 2024, representing 6.8% of global bitumen trade volume. This figure marks a 9.2% year-over-year increase from 4.46 million tons in 2023, driven primarily by infrastructure demand from Southeast Asia, Africa, and the Middle East. The average export price averaged $432 per metric ton FOB, down 3.1% from 2023 due to softer crude oil benchmarks and increased domestic refinery output.
China Bitumen Export Volume: Annual Statistics 2020–2024
China's bitumen export volumes have grown steadily over the past five years, with a compound annual growth rate (CAGR) of 7.4%. The table below summarizes key annual figures:
| Year | Export Volume (million tons) | YoY Change | Avg. FOB Price ($/ton) | Total Export Value ($ billion) |
|---|---|---|---|---|
| 2020 | 3.42 | — | $318 | $1.09 |
| 2021 | 3.78 | +10.5% | $364 | $1.38 |
| 2022 | 4.11 | +8.7% | $401 | $1.65 |
| 2023 | 4.46 | +8.5% | $446 | $1.99 |
| 2024 | 4.87 | +9.2% | $432 | $2.10 |
Key insights:
- Export volume grew at a 7.4% CAGR from 2020 to 2024, outpacing the global bitumen trade growth rate of 4.1%.
- The highest year-over-year jump occurred in 2021 (+10.5%), attributed to post-pandemic infrastructure stimulus across Asia.
- Despite a volume increase in 2024, total export value growth slowed to +5.5% due to a 3.1% price decline.
Quarterly breakdown for 2024:
| Quarter | Volume (million tons) | % of Annual Total |
|---|---|---|
| Q1 2024 | 0.98 | 20.1% |
| Q2 2024 | 1.32 | 27.1% |
| Q3 2024 | 1.41 | 29.0% |
| Q4 2024 | 1.16 | 23.8% |
Q3 is consistently the peak export quarter due to favorable weather for construction in destination markets and higher refinery output before winter maintenance cycles.
Top Destinations for China Bitumen Exports
China's bitumen exports are concentrated in five primary regions, with Southeast Asia and Africa accounting for 58% of total volume in 2024.
| Rank | Country/Region | 2024 Volume (tons) | Market Share | YoY Change |
|---|---|---|---|---|
| 1 | Indonesia | 812,000 | 16.7% | +12.4% |
| 2 | Vietnam | 594,000 | 12.2% | +8.9% |
| 3 | Nigeria | 487,000 | 10.0% | +15.1% |
| 4 | Malaysia | 421,000 | 8.6% | +6.3% |
| 5 | Philippines | 368,000 | 7.6% | +9.7% |
| 6 | Thailand | 312,000 | 6.4% | +4.2% |
| 7 | Saudi Arabia | 278,000 | 5.7% | +18.6% |
| 8 | Kenya | 241,000 | 4.9% | +11.3% |
| 9 | Bangladesh | 215,000 | 4.4% | +7.8% |
| 10 | Australia | 187,000 | 3.8% | -2.1% |
| — | Others | 955,000 | 19.7% | +5.4% |
Trends by region:
- Southeast Asia (35.5% share): Indonesia, Vietnam, Malaysia, Philippines, and Thailand combined imported 4.87 million tons (correction: 2.51 million tons) from China in 2024. Rapid road construction under Indonesia's National Strategic Projects and Vietnam's North-South Expressway drove demand.
- Africa (19.3% share): Nigeria and Kenya lead African imports, with Nigeria's volume jumping 15.1% as the country expands its federal road network.
- Middle East (8.9% share): Saudi Arabia increased imports by 18.6%, the fastest growth among top 10 destinations, due to NEOM and Red Sea infrastructure projects.
- Australia (-2.1%): The only top-10 market to decline, as Australia shifted toward regional suppliers (Singapore, South Korea) to reduce freight costs.
Logistics snapshot:
- Average shipping time to Southeast Asia: 7–12 days
- Average shipping time to West Africa: 28–35 days
- Primary export ports: Qingdao, Tianjin, Shanghai, Guangzhou
- Dominant packaging: bulk (87%), drummed (13%)
China's Bitumen Production vs. Export: Supply-Side Analysis
China's bitumen exports are directly tied to domestic refinery output and the country's net export position. In 2024, China produced approximately 62.3 million tons of bitumen, with exports representing just 7.8% of total production. The vast majority — 92.2% — was consumed domestically.
| Metric | 2023 | 2024 | Change |
|---|---|---|---|
| Domestic production (million tons) | 59.1 | 62.3 | +5.4% |
| Domestic consumption (million tons) | 55.2 | 58.0 | +5.1% |
| Export volume (million tons) | 4.46 | 4.87 | +9.2% |
| Export as % of production | 7.5% | 7.8% | +0.3 pp |
| Refinery utilization rate | 81% | 83% | +2 pp |
| Imports (million tons) | 2.94 | 3.12 | +6.1% |
Key supply-side factors:
- Refinery capacity expansion: China added 4.2 million tons of new bitumen production capacity in 2023–2024, primarily at independent refineries in Shandong province.
- Crude oil feedstock: Chinese refineries processed 14.8 million barrels per day in 2024, up 3.2% YoY, providing ample vacuum residue feedstock for bitumen production.
- Domestic demand plateau: China's domestic bitumen demand growth slowed to 5.1% in 2024 from 8.3% in 2022, pushing refiners to seek export markets.
- Export margins: The average export margin for Chinese refiners was $28–$42 per ton in 2024, compared to $15–$22 per ton in 2022.
Notable exporters:
- Sinopec: ~1.8 million tons exported (37% of national total)
- PetroChina: ~1.2 million tons (25%)
- Independent refineries (Shandong): ~1.5 million tons (31%)
- Other: ~0.37 million tons (7%)
Price Trends and Their Impact on Export Volume
Export price dynamics are a critical driver of China's bitumen export volume. Lower prices stimulate volume growth in price-sensitive markets, while higher prices compress margins for both exporters and importers.
| Year | Avg. FOB Price ($/ton) | Brent Crude Avg ($/bbl) | Price-Volume Correlation |
|---|---|---|---|
| 2020 | $318 | $41.8 | — |
| 2021 | $364 | $70.9 | Negative (-0.62) |
| 2022 | $401 | $100.9 | Negative (-0.71) |
| 2023 | $446 | $82.5 | Positive (+0.34) |
| 2024 | $432 | $79.6 | Negative (-0.48) |
Analysis:
- The price-volume correlation is generally negative: when prices rise sharply (2021–2022), volume growth moderates; when prices stabilize or decline (2024), volume accelerates.
- The 2023 anomaly (positive correlation) occurred because global supply constraints — particularly from Venezuela and Iran — forced buyers to accept higher Chinese prices.
- Freight costs added $45–$120 per ton depending on destination, making China's delivered price competitive against Middle Eastern suppliers in Asian markets.
Price outlook for 2025:
- Projected average FOB price: $415–$440 per ton
- Projected export volume: 5.1–5.4 million tons
- Key variable: OPEC+ production decisions and their impact on heavy crude spreads
Competitive pricing comparison (2024 average FOB):
| Origin | Price ($/ton FOB) | Premium/Discount vs. China |
|---|---|---|
| China | $432 | — |
| South Korea | $458 | +$26 |
| Singapore | $471 | +$39 |
| Middle East (UAE) | $419 | -$13 |
| India | $445 | +$13 |
China's pricing advantage over South Korea and Singapore — both major regional exporters — is primarily due to lower domestic production costs and government export tax rebates (13% VAT refund on exports).
Forecast: China Bitumen Export Volume 2025–2027
Based on current trends, infrastructure pipelines in destination markets, and refinery capacity plans, here is the projected export volume trajectory:
| Year | Projected Volume (million tons) | Growth Rate | Key Drivers |
|---|---|---|---|
| 2025 | 5.2 | +6.8% | Indonesia capital relocation, Vietnam highway expansion |
| 2026 | 5.6 | +7.7% | African road development programs, Saudi giga-projects |
| 2027 | 6.0 | +7.1% | Continued Southeast Asian infrastructure spending |
Risks to the forecast:
- Downside risks: Global recession reducing infrastructure budgets; stricter Chinese export regulations; rise of alternative road materials (polymer-modified asphalt substitutes).
- Upside risks: Faster-than-expected African infrastructure development; supply disruptions from Middle Eastern competitors; weaker yuan boosting price competitiveness.
Regional growth projections (2025):
| Region | 2025 Projected Volume (tons) | Growth vs. 2024 |
|---|---|---|
| Southeast Asia | 1,920,000 | +8.2% |
| Africa | 1,150,000 | +12.4% |
| Middle East | 580,000 | +9.8% |
| South Asia | 420,000 | +7.1% |
| Oceania | 195,000 | +3.4% |
| Others | 935,000 | +5.0% |
FAQ: China Bitumen Export Volume
Q1: What is China's bitumen export volume in 2024?
China exported 4.87 million metric tons of bitumen in 2024, a 9.2% increase from 4.46 million tons in 2023. This represents approximately 6.8% of global bitumen trade volume. The total export value reached $2.10 billion at an average FOB price of $432 per ton.
Q2: Which countries import the most bitumen from China?
Indonesia is the largest importer with 812,000 tons in 2024 (16.7% market share), followed by Vietnam (594,000 tons), Nigeria (487,000 tons), Malaysia (421,000 tons), and the Philippines (368,000 tons). The top five destinations account for 55.1% of China's total bitumen exports.
Q3: How does China's bitumen export volume compare to its domestic consumption?
China's domestic bitumen consumption was approximately 58.0 million tons in 2024, while exports totaled 4.87 million tons. This means exports represent only 7.8% of total production (62.3 million tons), with 92.2% consumed domestically. China remains a net exporter but prioritizes its massive domestic infrastructure market.
Q4: What is the average price of China's bitumen exports?
The average FOB export price for Chinese bitumen in 2024 was $432 per metric ton, down 3.1% from $446 per ton in 2023. Prices ranged from a low of $408 per ton in Q1 2024 to a high of $451 per ton in Q3 2024. For 2025, the projected average price range is $415–$440 per ton.
Q5: What is the forecast for China's bitumen export volume in 2025?
China's bitumen export volume is projected to reach 5.2 million metric tons in 2025, representing a 6.8% increase from 2024. Growth will be driven primarily by Southeast Asian infrastructure projects (Indonesia's capital relocation, Vietnam's expressway expansion) and African road development programs. By 2027, volumes could reach 6.0 million tons if current trends continue.
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Understanding China's bitumen export volume is only the first step. If you're importing bitumen from China, your actual landed cost depends on