Key Market Indicators
By 2026, Canada's bitumen exports are projected to drop by 11.8% annually, from 73.5 million kilograms in 2021 to 36.5 million kilograms. Since 1994, the country's supply has decreased by 12.7% on average each year. Belgium overtook Canada to become the fourth-largest bitumen exporter in 2021, while Canada, Belgium and Trinidad and Tobago held the second, third and fourth spots, respectively. Meanwhile, Canadian bitumen imports are expected to decrease by an average of 1.9% annually, from 179.3 million kilograms in 2021 to 162.6 million kilograms in 2026. Since 1994, demand has decreased by 3.1% annually. Oman surpassed Canada in 2021 to become the fourth-biggest bitumen importer with 179.3 million kilograms, while Egypt, Oman and Canada held the second, third and fourth spots, respectively.
