Portugal: Market for Asphalt or Bitumen Articles 2024

Market Size for Asphalt or Bitumen Articles in Portugal

For the seventh year in a row, the Portuguese asphalt or bitumen article market recorded growth in sales value, which increased by 6.5% to $X in 2022. Over the period under review, the total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +96.6% against 2015 indices. Asphalt or bitumen article consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Production of Asphalt or Bitumen Articles in Portugal

In value terms, asphalt or bitumen article production rose notably to $X in 2022 estimated in export price. In general, the total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +102.9% against 2015 indices. The pace of growth appeared the most rapid in 2018 when the production volume increased by 29% against the previous year. Over the period under review, production hit record highs in 2022 and is likely to see steady growth in the immediate term.

Exports of Asphalt or Bitumen Articles

Exports from Portugal

After three years of decline, shipments abroad of asphalt or bitumen articles increased by 19% to X tons in 2022. Overall, total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -24.0% against 2018 indices. The pace of growth appeared the most rapid in 2016 with an increase of 58% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, asphalt or bitumen article exports surged to $X in 2022. Over the period under review, total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 49% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Spain (X tons), the UK (X tons) and Morocco (X tons) were the main destinations of asphalt or bitumen article exports from Portugal, together accounting for 73% of total exports. Belgium, Angola, Ireland and Albania lagged somewhat behind, together accounting for a further 18%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium (with a CAGR of +218.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for asphalt or bitumen article exported from Portugal were Spain ($X), the UK ($X) and Morocco ($X), with a combined 68% share of total exports. Angola, Belgium, Ireland and Albania lagged somewhat behind, together accounting for a further 20%.

Among the main countries of destination, Belgium, with a CAGR of +191.3%, 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 average asphalt or bitumen article export price stood at $X per ton in 2022, growing by 4.6% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 31%. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Angola ($X per ton), while the average price for exports to Albania ($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 Canada (+10.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Asphalt or Bitumen Articles

Imports into Portugal

Asphalt or bitumen article imports into Portugal skyrocketed to X tons in 2022, increasing by 18% against the year before. Over the period under review, imports, however, recorded a perceptible reduction. The most prominent rate of growth was recorded in 2019 when imports increased by 61%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, asphalt or bitumen article imports soared to $X in 2022. In general, imports, however, continue to indicate a noticeable decline. The pace of growth was the most pronounced in 2019 with an increase of 38%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Spain (X tons) constituted the largest asphalt or bitumen article supplier to Portugal, with a 84% share of total imports. Moreover, asphalt or bitumen article imports from Spain exceeded the figures recorded by the second-largest supplier, Egypt (X tons), more than tenfold. Belgium (X tons) ranked third in terms of total imports with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain stood at +1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+48.3% per year) and Belgium (-10.1% per year).

In value terms, Spain ($X) constituted the largest supplier of asphalt or bitumen articles to Portugal, comprising 83% of total imports. The second position in the ranking was taken by Egypt ($X), with a 5.2% share of total imports. It was followed by Italy, with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+54.5% per year) and Italy (-20.4% per year).

Import Prices by Country

The average asphalt or bitumen article import price stood at $X per ton in 2022, picking up by 6.5% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 31% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+5.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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