Estonia: Non-Rolled Bitumen Products Market 2024

Non-Rolled Bitumen Products Market Size in Estonia

In 2022, after three years of growth, there was significant decline in the Estonian non-rolled bitumen products market, when its value decreased by -20.1% to $X. Over the period under review, consumption, however, recorded a buoyant expansion. Non-rolled bitumen products consumption peaked at $X in 2021, and then dropped sharply in the following year.

Non-Rolled Bitumen Products Production in Estonia

In value terms, non-rolled bitumen products production fell to $X in 2022 estimated in export price. Overall, production, however, recorded prominent growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 77% against the previous year. Over the period under review, production hit record highs at $X in 2021, and then declined in the following year.

Non-Rolled Bitumen Products Exports

Exports from Estonia

In 2022, non-rolled bitumen products exports from Estonia declined sharply to X tons, waning by -46.7% against the previous year. Over the period under review, exports recorded a deep contraction. The growth pace was the most rapid in 2021 with an increase of 122% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, non-rolled bitumen products exports reduced notably to $X in 2022. In general, exports recorded a abrupt descent. The growth pace was the most rapid in 2021 with an increase of 94% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The UK (X tons), Iceland (X tons) and Latvia (X tons) were the main destinations of non-rolled bitumen products exports from Estonia, with a combined 91% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +323.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X) remains the key foreign market for non-rolled bitumen products exports from Estonia, comprising 48% of total exports. The second position in the ranking was held by Iceland ($X), with a 21% share of total exports. It was followed by Latvia, with an 18% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the UK stood at +70.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iceland (+18.5% per year) and Latvia (-18.7% per year).

Export Prices by Country

The average non-rolled bitumen products export price stood at $X per ton in 2022, surging by 26% against the previous year. Overall, the export price enjoyed a mild increase. The growth pace was the most rapid in 2019 when the average export price increased by 67% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Latvia ($X per ton), while the average price for exports to Iceland ($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 Latvia (+11.2%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Rolled Bitumen Products Imports

Imports into Estonia

After two years of growth, overseas purchases of non-rolled bitumen products decreased by -6.3% to X tons in 2022. In general, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 64%. Imports peaked at X tons in 2021, and then contracted in the following year.

In value terms, non-rolled bitumen products imports skyrocketed to $X in 2022. Over the period under review, imports, however, continue to indicate a modest increase. The most prominent rate of growth was recorded in 2020 with an increase of 60%. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

Finland (X tons), Poland (X tons) and Lithuania (X tons) were the main suppliers of non-rolled bitumen products imports to Estonia, together comprising 84% of total imports. Russia, Turkey, Germany and the United States lagged somewhat behind, together comprising a further 13%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +1,289,060.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Finland ($X) and Lithuania ($X) constituted the largest non-rolled bitumen products suppliers to Estonia, with a combined 80% share of total imports. Germany, Turkey, Russia and the United States lagged somewhat behind, together comprising a further 13%.

Turkey, with a CAGR of +1,534,180.0%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average non-rolled bitumen products import price stood at $X per ton in 2022, increasing by 33% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+19.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform