Belgium: Petroleum Bitumen Market 2025

Petroleum Bitumen Market Size in Belgium

In 2022, the Belgian petroleum bitumen market increased by 3.4% to $X, rising for the second year in a row after two years of decline. Overall, consumption, however, showed a prominent expansion. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Petroleum Bitumen Production in Belgium

In value terms, petroleum bitumen production declined sharply to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a precipitous curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 118% against the previous year. Petroleum bitumen production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Petroleum Bitumen Exports

Exports from Belgium

In 2022, overseas shipments of petroleum bitumen decreased by -3.2% to X tons, falling for the second consecutive year after two years of growth. In general, exports faced a abrupt contraction. The pace of growth appeared the most rapid in 2020 with an increase of 205%. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, petroleum bitumen exports skyrocketed to $X in 2022. Overall, exports continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2020 with an increase of 149% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

France (X tons), the Netherlands (X tons) and Norway (X tons) were the main destinations of petroleum bitumen exports from Belgium, together accounting for 79% of total exports. These countries were followed by Morocco, Sweden, Finland, Luxembourg, Germany, Algeria and the UK, which together accounted for a further 20%.

From 2012 to 2021, the biggest increases were recorded for Morocco (with a CAGR of +54.4%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for petroleum bitumen exported from Belgium were the Netherlands ($X), France ($X) and Norway ($X), together comprising 80% of total exports. Morocco, Sweden, Finland, Luxembourg, Germany, Algeria and the UK lagged somewhat behind, together accounting for a further 19%.

Morocco, with a CAGR of +76.8%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average petroleum bitumen export price amounted to $X per ton, rising by 44% against the previous year. Overall, the export price, however, showed a pronounced descent. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: 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 2021, the most notable rate of growth in terms of prices was recorded for supplies to Morocco (+14.5%), while the prices for the other major destinations experienced a decline.

Petroleum Bitumen Imports

Imports into Belgium

In 2022, imports of petroleum bitumen into Belgium declined to X tons, which is down by -10.3% compared with 2021. In general, imports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 149% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, petroleum bitumen imports soared to $X in 2022. Overall, imports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 294%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest supplier of petroleum bitumen to Belgium, accounting for a 73% share of total imports. Moreover, petroleum bitumen imports from the Netherlands exceeded the figures recorded by the second-largest supplier, France (X tons), sevenfold. The third position in this ranking was taken by Germany (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from the Netherlands totaled +21.2%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+1.0% per year) and Germany (+14.8% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of petroleum bitumen to Belgium, comprising 69% of total imports. The second position in the ranking was taken by France ($X), with a 12% share of total imports. It was followed by Germany, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from the Netherlands stood at +14.0%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-3.6% per year) and Germany (+9.9% per year).

Import Prices by Country

The average petroleum bitumen import price stood at $X per ton in 2021, with an increase of 58% against the previous year. In general, the import price, however, continues to indicate a drastic downturn. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were France ($X per ton) and Turkey ($X per ton), while the price for the Netherlands ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+4.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform