In 2024, the total global value of asphalt exports reached US$1 billion.

Overall, asphalt exports dropped by an average of -35.1% compared to 2020, when shipments totaled $1.55 billion. Year over year, exports also decreased -32.9%, down from $1.5 billion in 2023.

Asphalt is primarily used to produce asphalt concrete, a material essential for road construction. Typically, asphalt concrete consists of 5% asphalt cement and 95% aggregates such as stone, sand, and gravel. Its durability and easy maintenance also make it a preferred material for airport runways worldwide.

In terms of export value, the top five asphalt exporters — Venezuela, Canada, Spain, the United States, and Germany — accounted for 49.7% of global asphalt exports in 2024.

From a regional perspective, Europe dominated asphalt exports in 2024 with shipments valued at $479.6 million, representing 48.9% of global exports. North America ranked second with 20.3%, followed by Latin America (excluding Mexico but including the Caribbean) at 14.8%.

Smaller shares came from Asia (13%), Africa (2.8%), and Oceania (0.1%), mainly from Australia and New Zealand.

Asphalt Imports Overview

Turning to imports, the five largest asphalt importers in 2024 were mainland China, the United States, Malaysia, Chile, and the Dominican Republic. Combined, these countries represented 83.3% of total global asphalt imports by value.

These figures reveal that while the top 5 exporters controlled roughly half of total exports (49.7%), asphalt imports were more heavily concentrated, with the top 5 importers purchasing over four-fifths (83.3%) of the world’s total.

From a continental angle, Asia was by far the largest importer, accounting for 79.4% of all asphalt imports, followed by Europe (8.7%), Latin America (5%), North America (4.4%), Africa (1.4%), and Oceania (1.1%), led by New Zealand and Australia.

Globally, the average import price for asphalt was $486 per ton in 2024 — reflecting a 24.3% increase from the $391 per ton recorded in 2023.

For classification purposes, asphalt is categorized under the 6-digit Harmonized System (HS) code 271500, covering bituminous mastics, cut-backs, and other mixtures based on natural asphalt.

Top Asphalt Exporting Companies (2024)

Based on Tendata trade data, the leading asphalt exporters were:

1.АО НЗНП – 52.1% ($248.83M)

2.Công Ty TNHH Nhựa Đường Petrolimex – 6.17% ($29.45M)

3.Ammann Apollo India Pvt Ltd – 3.79% ($18.09M)

4.Perenco Guatemala Limited – 3.45% ($16.49M)

5.Marini India Pvt Ltd – 2.75% ($13.11M)

6.Ammann Makina İnşaat Emlak Mühendislik Ticaret ve Sanayi A.Ş. – 2.13% ($10.15M)

7.Quimi Kao – 2.05% ($9.79M)

8.STG Infrastructure Pvt Ltd – 1.85% ($8.84M)

9.Marini İç ve Dış Ticaret A.Ş. – 1.61% ($7.67M)

10.Simge Mak Dış Ticaret A.Ş. – 1.24% ($5.92M)

Top Asphalt Importing Companies (2024)

According to Tendata global trade statistics, the top 10 asphalt importers were:

1.PT Pertamina Patra Niaga – 9.54% ($160.66M)

2.Global Gas Trans Enerji Sanayi ve Ticaret A.Ş. – 7.05% ($118.7M)

3.Công Ty TNHH Nhựa Đường Petrolimex – 5.48% ($92.36M)

4.Công Ty Cổ Phần Thương Mại Và Xuất Nhập Khẩu Vật Tư Giao Thông – 4.34% ($73.19M)

5.Công Ty TNHH Cung Ứng Nhựa Đường – 3.83% ($64.55M)

6.Công Ty Cổ Phần Đầu Tư Xuất Nhập Khẩu RED – 3.59% ($60.56M)

7.Productos Bituminosos S.A. – 2.95% ($49.77M)

8.Công Ty Cổ Phần VN Asphalt – 2.78% ($46.84M)

9.Ergon Mexico – 2.29% ($38.53M)

10.Fluidos Peninsulares – 1.57% ($26.43M)

Top Asphalt Exporting Countries in 2024

Here are the 15 leading asphalt exporters ranked by export value:

1.Venezuela: US$131.9 million (13.1%)

2.Canada: $113.8 million (11.3%)

3.Spain: $87.8 million (8.7%)

4.United States: $85.2 million (8.5%)

5.Germany: $80.6 million (8%)

6.Belgium: $53.6 million (5.3%)

7.Netherlands: $38.9 million (3.9%)

8.Russia: $36 million (3.6%)

9.Turkmenistan: $34.5 million (3.4%)

10.Austria: $32.1 million (3.2%)

11.Poland: $28.9 million (2.9%)

12.United Kingdom: $24.5 million (2.4%)

13.South Africa: $23 million (2.3%)

14.Thailand: $20.4 million (2%)

15.France: $19.6 million (1.9%)

Together, these countries shipped 80.7% of total global asphalt exports in 2024.

Among them, the fastest-growing exporters compared to 2023 were:

·Venezuela (+2,340%)

·Turkmenistan (+34.5%)

·Spain (+23.4%)

·United Kingdom (+14.5%)

Meanwhile, exporters that experienced declines included:

·Russia (-40.8%)

·Canada (-13.2%)

·Austria (-8.2%)

·Germany (-4.1%)

Top Asphalt Importing Countries in 2024

The total value of asphalt imports decreased by -3.3% over five years (since 2020) and by -27.5% year-on-year from 2023.

The top 15 importing countries in 2024 were:

1.Mainland China: US$3.6 billion (74%)

2.United States: $178.1 million (3.7%)

3.Malaysia: $123 million (2.5%)

4.Chile: $83.4 million (1.7%)

5.Dominican Republic: $63.1 million (1.3%)

6.Finland: $56.1 million (1.2%)

7.New Zealand: $45.9 million (0.9%)

8.United Kingdom: $45.4 million (0.9%)

9.Netherlands: $39 million (0.8%)

10.Uzbekistan: $35.9 million (0.7%)

11.Poland: $33.8 million (0.7%)

12.Austria: $32.2 million (0.7%)

13.Canada: $30 million (0.6%)

14.Panama: $29.4 million (0.6%)

15.France: $28.5 million (0.6%)

These countries accounted for 91% of global asphalt imports in 2024.

The fastest-growing importers since 2023 were:

·Finland (+171.1%)

·New Zealand (+41.5%)

·Uzbekistan (+37.1%)

·Chile (+30.8%)

Conversely, import declines were recorded in:

·Mainland China (-32.8%)

·Netherlands (-31.3%)

·Canada (-23.5%)

·Poland (-17.2%)

·Panama (-14.2%)

Summary

Despite a global slowdown in asphalt trade in 2024, several countries — notably Venezuela and Turkmenistan — achieved remarkable growth in exports. Meanwhile, Asia remained the dominant hub for asphalt imports, led overwhelmingly by China.