Lithuania: Petroleum Bitumen Market 2025

Petroleum Bitumen Market Size in Lithuania

In 2022, the Lithuanian petroleum bitumen market decreased by -16.2% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Petroleum Bitumen Production in Lithuania

In value terms, petroleum bitumen production shrank to $X in 2022 estimated in export price. In general, production enjoyed measured growth. The most prominent rate of growth was recorded in 2017 with an increase of 73%. Petroleum bitumen production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Petroleum Bitumen Exports

Exports from Lithuania

In 2022, shipments abroad of petroleum bitumen was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2019 with an increase of 189% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, petroleum bitumen exports skyrocketed to $X in 2022. Overall, exports posted prominent growth. The most prominent rate of growth was recorded in 2019 when exports increased by 121%. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Latvia (X tons) was the main destination for petroleum bitumen exports from Lithuania, accounting for a 41% share of total exports. Moreover, petroleum bitumen exports to Latvia exceeded the volume sent to the second major destination, Ukraine (X tons), twofold. The third position in this ranking was taken by Estonia (X tons), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume to Latvia totaled +7.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+153.6% per year) and Estonia (+6.9% per year).

In value terms, Latvia ($X) remains the key foreign market for petroleum bitumen exports from Lithuania, comprising 39% of total exports. The second position in the ranking was taken by Ukraine ($X), with a 19% share of total exports. It was followed by Estonia, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Latvia totaled +2.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+192.7% per year) and Estonia (+2.6% per year).

Export Prices by Country

The average petroleum bitumen export price stood at $X per ton in 2021, jumping by 80% against the previous year. In general, the export price, however, continues to indicate a pronounced setback. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Finland ($X per ton), while the average price for exports to Benin ($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 Ukraine (+15.4%), while the prices for the other major destinations experienced mixed trend patterns.

Petroleum Bitumen Imports

Imports into Lithuania

In 2022, overseas purchases of petroleum bitumen decreased by -19.2% to X tons, falling for the second year in a row after four years of growth. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 37% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, petroleum bitumen imports expanded sharply to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by 98% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2021, Poland (X tons) constituted the largest petroleum bitumen supplier to Lithuania, accounting for a 48% share of total imports. Moreover, petroleum bitumen imports from Poland exceeded the figures recorded by the second-largest supplier, Latvia (X tons), threefold. Russia (X tons) ranked third in terms of total imports with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Poland stood at -1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Latvia (+82.8% per year) and Russia (+23.5% per year).

In value terms, Poland ($X) constituted the largest supplier of petroleum bitumen to Lithuania, comprising 53% of total imports. The second position in the ranking was taken by Latvia ($X), with an 18% share of total imports. It was followed by Russia, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from Poland amounted to -4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Latvia (+80.8% per year) and Russia (+14.7% per year).

Import Prices by Country

In 2021, the average petroleum bitumen import price amounted to $X per ton, growing by 80% against the previous year. Overall, the import price, however, saw a pronounced downturn. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Poland ($X per ton) and Estonia ($X per ton), while the price for Russia ($X per ton) and Belarus ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Latvia (-1.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform