Norway: Market for Asphalt or Bitumen Articles 2024

Market Size for Asphalt or Bitumen Articles in Norway

The Norwegian asphalt or bitumen article market fell sharply to $X in 2022, which is down by -28.1% against the previous year. In general, consumption faced a abrupt slump. Asphalt or bitumen article consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Asphalt or Bitumen Articles in Norway

In value terms, asphalt or bitumen article production fell rapidly to $X in 2022 estimated in export price. Overall, production showed a precipitous slump. The most prominent rate of growth was recorded in 2019 with an increase of 26% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Asphalt or Bitumen Articles

Exports from Norway

Asphalt or bitumen article exports from Norway rose markedly to X tons in 2022, growing by 9.7% against 2021. The total export volume increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 12%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, asphalt or bitumen article exports amounted to $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 16% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Sweden (X tons) was the main destination for asphalt or bitumen article exports from Norway, accounting for a 63% share of total exports. Moreover, asphalt or bitumen article exports to Sweden exceeded the volume sent to the second major destination, Germany (X tons), twofold. The third position in this ranking was taken by Iceland (X tons), with a 4.7% share.

From 2012 to 2022, the average annual growth rate of volume to Sweden stood at +7.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-3.8% per year) and Iceland (+6.8% per year).

In value terms, Sweden ($X) remains the key foreign market for asphalt or bitumen articles exports from Norway, comprising 60% of total exports. The second position in the ranking was taken by Germany ($X), with a 28% share of total exports. It was followed by Iceland, with a 6.9% share.

From 2012 to 2022, the average annual growth rate of value to Sweden amounted to +4.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-2.6% per year) and Iceland (+9.5% per year).

Export Prices by Country

In 2022, the average asphalt or bitumen article export price amounted to $X per ton, shrinking by -4.2% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 7.1% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Iceland ($X per ton), while the average price for exports to Sweden ($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 Iceland (+2.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Asphalt or Bitumen Articles

Imports into Norway

In 2022, overseas purchases of asphalt or bitumen articles decreased by -11.2% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 9.9% against the previous year. Imports peaked at X tons in 2021, and then contracted in the following year.

In value terms, asphalt or bitumen article imports dropped to $X in 2022. Overall, imports continue to indicate a noticeable decline. The most prominent rate of growth was recorded in 2021 when imports increased by 21%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Sweden (X tons) constituted the largest asphalt or bitumen article supplier to Norway, accounting for a 46% share of total imports. Moreover, asphalt or bitumen article imports from Sweden exceeded the figures recorded by the second-largest supplier, Finland (X tons), threefold. Belgium (X tons) ranked third in terms of total imports with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Sweden stood at +2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Finland (-5.1% per year) and Belgium (+2.8% per year).

In value terms, Sweden ($X) constituted the largest supplier of asphalt or bitumen articles to Norway, comprising 44% of total imports. The second position in the ranking was taken by Belgium ($X), with a 19% share of total imports. It was followed by Finland, with a 14% share.

From 2012 to 2022, the average annual growth rate of value from Sweden was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-0.3% per year) and Finland (-7.3% per year).

Import Prices by Country

The average asphalt or bitumen article import price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable downturn. The pace of growth was the most pronounced in 2017 an increase of 11% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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