Europe: Market for Natural Bitumen and Asphalt 2024

Market Size for Natural Bitumen and Asphalt in Europe

In 2021, the Europe natural bitumen and asphalt market increased by 1.4% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption, however, saw a pronounced slump. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Natural Bitumen and Asphalt in Europe

In value terms, natural bitumen and asphalt production stood at $X in 2021 estimated in export price. In general, production, however, recorded a noticeable descent. The most prominent rate of growth was recorded in 2013 with an increase of 21%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Exports of Natural Bitumen and Asphalt

Exports in Europe

In 2021, after two years of decline, there was significant growth in shipments abroad of natural bitumen and asphalt, when their volume increased by 64% to X tons. Total exports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of export peaked 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. Over the period under review, exports continue to indicate a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Spain (X tons), Italy (X tons) and Belgium (X tons) represented roughly 89% of total exports in 2021. It was distantly followed by Croatia (X tons), constituting a 5.3% share of total exports. The Czech Republic (X tons) held a little share of total exports.

From 2012 to 2021, the biggest increases were recorded for Croatia (with a CAGR of +28.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Italy ($X) and Belgium ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 94% of total exports.

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

Export Prices by Country

In 2021, the export price in Europe amounted to $X per ton, jumping by 37% against the previous year. Export price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.5% 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 +31.8% against 2018 indices. The growth pace was the most rapid in 2017 an increase of 42%. The level of export peaked in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: 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 Europe

In 2021, the amount of natural bitumen and asphalt imported in Europe surged to X tons, increasing by 81% on the previous year's figure. Over the period under review, imports showed prominent 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 soared to $X in 2021. Overall, imports saw a strong expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

France represented the main importer of natural bitumen and asphalt in Europe, with the volume of imports resulting at X tons, which was near 48% of total imports in 2021. Austria (X tons) held the second position in the ranking, followed by Poland (X tons), Belgium (X tons) and Portugal (X tons). All these countries together took approx. 26% share of total imports. Denmark (X tons), Slovenia (X tons), Romania (X tons), Sweden (X tons) and Germany (X tons) followed a long way behind the leaders.

Imports into France increased at an average annual rate of +14.7% from 2012 to 2021. 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 Europe, 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 (+18 p.p.), Austria (+9.5 p.p.), Portugal (+4.6 p.p.), Belgium (+4.5 p.p.), Romania (+3.2 p.p.) and Sweden (+3.2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Denmark (-3.9 p.p.), Slovenia (-5.4 p.p.) and Poland (-10.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, France ($X) constitutes the largest market for imported natural bitumen and asphalt in Europe, comprising 55% of total imports. The second position in the ranking was taken by Denmark ($X), with a 6.1% share of total imports. It was followed by Poland, with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of value in France amounted to +19.7%. 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 Europe amounted to $X per ton, rising by 25% against the previous year. Over the period under review, the import price, however, saw 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