Belgium: Market for Asphalt or Bitumen Articles 2024

Market Size for Asphalt or Bitumen Articles in Belgium

The Belgian asphalt or bitumen article market surged to $X in 2022, increasing by 18% against the previous year. Over the period under review, consumption recorded a strong increase. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in the near future.

Production of Asphalt or Bitumen Articles in Belgium

In value terms, asphalt or bitumen article production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production, however, showed a mild reduction. Asphalt or bitumen article production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Asphalt or Bitumen Articles

Exports from Belgium

Asphalt or bitumen article exports from Belgium shrank markedly to X tons in 2022, falling by -26.8% on the previous year's figure. In general, exports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2020 when exports increased by 41% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, asphalt or bitumen article exports shrank to $X in 2022. Overall, exports continue to indicate a mild reduction. The pace of growth appeared the most rapid in 2020 when exports increased by 15%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

The Netherlands (X tons), France (X tons) and Denmark (X tons) were the main destinations of asphalt or bitumen article exports from Belgium, together accounting for 61% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Denmark (with a CAGR of +2.3%), while the other leaders experienced mixed trend patterns.

In value terms, the Netherlands ($X) remains the key foreign market for asphalt or bitumen articles exports from Belgium, comprising 41% of total exports. The second position in the ranking was taken by France ($X), with a 12% share of total exports. It was followed by Denmark, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to the Netherlands was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+3.0% per year) and Denmark (+6.3% per year).

Export Prices by Country

In 2022, the average asphalt or bitumen article export price amounted to $X per ton, picking up by 29% against the previous year. In general, the export price recorded buoyant growth. The most prominent rate of growth was recorded in 2021 an increase of 51% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+12.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Asphalt or Bitumen Articles

Imports into Belgium

In 2022, after two years of growth, there was significant decline in supplies from abroad of asphalt or bitumen articles, when their volume decreased by -9.5% to X tons. Overall, total imports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +96.1% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 73%. Over the period under review, imports hit record highs at X tons in 2021, and then shrank in the following year.

In value terms, asphalt or bitumen article imports shrank slightly to $X in 2022. Over the period under review, total imports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +47.8% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 42%. Imports peaked at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, France (X tons) constituted the largest supplier of asphalt or bitumen article to Belgium, accounting for a 63% share of total imports. Moreover, asphalt or bitumen article imports from France exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), sixfold. Italy (X tons) ranked third in terms of total imports with a 9.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from France amounted to +12.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-1.7% per year) and Italy (+2.3% per year).

In value terms, France ($X) constituted the largest supplier of asphalt or bitumen articles to Belgium, comprising 55% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 13% share of total imports. It was followed by Italy, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from France totaled +9.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-0.4% per year) and Italy (+4.6% per year).

Import Prices by Country

The average asphalt or bitumen article import price stood at $X per ton in 2022, rising by 7.6% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 23%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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