Belgium: Market for Natural Bitumen and Asphalt 2024

Market Size for Natural Bitumen and Asphalt in Belgium

The Belgian natural bitumen and asphalt market expanded sharply to $X in 2021, picking up by 6% against the previous year. Overall, consumption enjoyed a remarkable increase. Over the period under review, the market attained the peak level in 2021 and is expected to retain growth in the near future.

Production of Natural Bitumen and Asphalt in Belgium

In value terms, natural bitumen and asphalt production expanded rapidly to $X in 2021 estimated in export price. Overall, the total production indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +116.2% against 2015 indices. The pace of growth appeared the most rapid in 2016 with an increase of 21%. Natural bitumen and asphalt production peaked in 2021 and is likely to see steady growth in years to come.

Exports of Natural Bitumen and Asphalt

Exports from Belgium

In 2021, exports of natural bitumen and asphalt from Belgium soared to X tons, growing by 71% against the previous year's figure. In general, exports, however, continue to indicate a noticeable decline. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, natural bitumen and asphalt exports soared to $X in 2021. Overall, exports, however, saw a noticeable reduction. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

France (X tons) was the main destination for natural bitumen and asphalt exports from Belgium, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to France amounted to -1.3%.

In value terms, France ($X) also remains the key foreign market for natural bitumen and asphalt exports from Belgium.

From 2012 to 2021, the average annual rate of growth in terms of value to France totaled -2.8%.

Export Prices by Country

In 2021, the average natural bitumen and asphalt export price amounted to $X per ton, waning by -4.7% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 38% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for France.

From 2012 to 2021, the rate of growth in terms of prices for France amounted to -1.6% per year.

Imports of Natural Bitumen and Asphalt

Imports into Belgium

In 2021, the amount of natural bitumen and asphalt imported into Belgium skyrocketed to X tons, growing by 24% compared with the previous year. Overall, imports showed a significant increase. The pace of growth appeared the most rapid in 2017 when imports increased by 393%. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, natural bitumen and asphalt imports expanded to $X in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 494%. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest supplier of natural bitumen and asphalt to Belgium, accounting for a 45% share of total imports. Moreover, natural bitumen and asphalt imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. Turkey (X tons) ranked third in terms of total imports with a 1.2% share.

From 2012 to 2021, the average annual growth rate of volume from the Netherlands totaled +65.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+73.2% per year) and Turkey (+164.5% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of natural bitumen and asphalt to Belgium, comprising 60% of total imports. The second position in the ranking was taken by Germany ($X), with a 15% share of total imports. It was followed by the United States, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the Netherlands totaled +18.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+37.4% per year) and the United States (-13.2% per year).

Import Prices by Country

In 2021, the average natural bitumen and asphalt import price amounted to $X per ton, reducing by -18% against the previous year. Overall, the import price continues to indicate a dramatic contraction. The pace of growth appeared the most rapid in 2018 when the average import price increased by 26%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (-3.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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