Benelux: Market for Asphalt or Bitumen Articles 2024

Market Size for Asphalt or Bitumen Articles in Benelux

The Benelux asphalt or bitumen article market soared to $X in 2022, with an increase of 28% against the previous year. Over the period under review, consumption recorded a prominent increase. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Production of Asphalt or Bitumen Articles in Benelux

In value terms, asphalt or bitumen article production rose remarkably to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a mild curtailment. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Asphalt or Bitumen Articles

Exports in Benelux

In 2022, approx. X tons of asphalt or bitumen articles were exported in Benelux; which is down by -28.4% on 2021 figures. In general, exports showed a deep reduction. The growth pace was the most rapid in 2020 with an increase of 33% against the previous year. Over the period under review, the exports hit record highs 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 dropped to $X in 2022. Overall, exports showed a slight decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 16% against the previous year. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Belgium (X tons) represented the largest exporter of asphalt or bitumen articles, constituting 79% of total exports. It was distantly followed by the Netherlands (X tons), committing a 20% share of total exports.

Exports from Belgium decreased at an average annual rate of -8.3% from 2012 to 2022. The Netherlands (-4.2%) illustrated a downward trend over the same period. While the share of the Netherlands (+6.1 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Belgium (-6.1 p.p.) displayed negative dynamics.

In value terms, Belgium ($X) remains the largest asphalt or bitumen article supplier in Benelux, comprising 83% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 16% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Belgium amounted to -1.4%.

Export Prices by Country

In 2022, the export price in Benelux amounted to $X per ton, increasing by 23% against the previous year. Export price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, asphalt or bitumen article export price increased by +78.1% against 2020 indices. The pace of growth was the most pronounced in 2021 when the export price increased by 45% against the previous year. Over the period under review, the export prices reached the maximum in 2022 and is likely to continue growth in years to come.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the Netherlands totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+7.5%).

Imports of Asphalt or Bitumen Articles

Imports in Benelux

For the third year in a row, Benelux recorded growth in overseas purchases of asphalt or bitumen articles, which increased by 41% to X tons in 2022. In general, imports enjoyed strong growth. The most prominent rate of growth was recorded in 2020 when imports increased by 42%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, asphalt or bitumen article imports skyrocketed to $X in 2022. Total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.7% 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 +79.5% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the Netherlands (X tons) was the key importer of asphalt or bitumen articles, comprising 76% of total imports. Belgium (X tons) ranks second in terms of the total imports with a 16% share, followed by Luxembourg (8%).

The Netherlands was also the fastest-growing in terms of the asphalt or bitumen articles imports, with a CAGR of +15.4% from 2012 to 2022. At the same time, Luxembourg (+8.4%) and Belgium (+2.8%) displayed positive paces of growth. While the share of the Netherlands (+22 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Luxembourg (-2.5 p.p.) and Belgium (-19.7 p.p.) displayed negative dynamics.

In value terms, the Netherlands ($X) constitutes the largest market for imported asphalt or bitumen articles in Benelux, comprising 70% of total imports. The second position in the ranking was held by Belgium ($X), with a 23% share of total imports.

From 2012 to 2022, the average annual growth rate of value in the Netherlands amounted to +6.9%. The remaining importing countries recorded the following average annual rates of imports growth: Belgium (+2.8% per year) and Luxembourg (+5.8% per year).

Import Prices by Country

In 2022, the import price in Benelux amounted to $X per ton, which is down by -8.5% against the previous year. In general, the import price continues to indicate a abrupt slump. The pace of growth appeared the most rapid in 2017 an increase of 9.1% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while Luxembourg ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (-0.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform