EU: Market for Natural Bitumen and Asphalt 2024

Market Size for Natural Bitumen and Asphalt in the EU

The EU natural bitumen and asphalt market skyrocketed to $X in 2021, picking up by 25% against the previous year. The total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +18.2% against 2018 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Natural Bitumen and Asphalt in the EU

In value terms, natural bitumen and asphalt production surged to $X in 2021 estimated in export price. The total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +31.2% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 27%. Over the period under review, production reached the peak level in 2021 and is expected to retain growth in the immediate term.

Exports of Natural Bitumen and Asphalt

Exports in the EU

In 2021, shipments abroad of natural bitumen and asphalt was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports continue to indicate resilient growth. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, natural bitumen and asphalt exports surged to $X in 2021. Overall, exports continue to indicate prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The shipments of the three major exporters of natural bitumen and asphalt, namely Spain, Italy and Belgium, represented more than two-thirds of total export. It was distantly followed by Croatia (X tons), comprising a 5.4% share of total exports. The Czech Republic (X tons) took a relatively small share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Croatia (with a CAGR of +28.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest natural bitumen and asphalt supplying countries in the European Union were Spain ($X), Italy ($X) and Belgium ($X), together accounting for 95% of total exports.

In terms of the main exporting countries, Italy, with a CAGR of +24.6%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the European Union stood at $X per ton in 2021, picking up by 27% against the previous year. Export price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +1.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, natural bitumen and asphalt export price increased by +24.1% against 2018 indices. The most prominent rate of growth was recorded in 2017 when the export price increased by 34% against the previous year. Over the period under review, the export prices reached the maximum in 2021 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (-0.4%), while the other leaders experienced a decline in the export price figures.

Imports of Natural Bitumen and Asphalt

Imports in the EU

In 2021, approx. X tons of natural bitumen and asphalt were imported in the European Union; jumping by 81% against the previous year. Over the period under review, imports posted resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, natural bitumen and asphalt imports skyrocketed to $X in 2021. Overall, imports showed a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

France represented the largest importing country with an import of around X tons, which accounted for 50% of total imports. Austria (X tons) took a 10% share (based on physical terms) of total imports, which put it in second place, followed by Poland (7.1%), Belgium (5.1%) and Portugal (4.9%). The following importers - Denmark (X tons), Slovenia (X tons), Romania (X tons), Sweden (X tons) and Germany (X tons) - together made up 19% of total imports.

From 2012 to 2021, average annual rates of growth with regard to natural bitumen and asphalt imports into France stood at +14.7%. At the same time, Portugal (+65.8%), Austria (+52.6%), Sweden (+50.2%), Belgium (+43.3%), Romania (+33.8%), Germany (+13.1%) and Denmark (+1.3%) displayed positive paces of growth. Moreover, Portugal emerged as the fastest-growing importer imported in the European Union, with a CAGR of +65.8% from 2012-2021. Slovenia experienced a relatively flat trend pattern. By contrast, Poland (-1.8%) illustrated a downward trend over the same period. While the share of France (+19 p.p.), Austria (+9.8 p.p.), Portugal (+4.8 p.p.), Belgium (+4.6 p.p.), Romania (+3.3 p.p.) and Sweden (+3.3 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Denmark (-4 p.p.), Slovenia (-5.6 p.p.) and Poland (-10.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, France ($X) constitutes the largest market for imported natural bitumen and asphalt in the European Union, comprising 57% of total imports. The second position in the ranking was held by Denmark ($X), with a 6.3% share of total imports. It was followed by Poland, with a 6.2% share.

In France, natural bitumen and asphalt imports expanded at an average annual rate of +19.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Denmark (-1.3% per year) and Poland (-8.3% per year).

Import Prices by Country

In 2021, the import price in the European Union amounted to $X per ton, with an increase of 28% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Sweden ($X per ton), while Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+14.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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