Romania: Market for Asphalt or Bitumen Articles 2024

Market Size for Asphalt or Bitumen Articles in Romania

The Romanian asphalt or bitumen article market declined to $X in 2022, dropping by -10.9% against the previous year. In general, consumption showed a noticeable reduction. Asphalt or bitumen article consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of Asphalt or Bitumen Articles in Romania

In value terms, asphalt or bitumen article production soared to $X in 2022 estimated in export price. Over the period under review, production faced a deep setback. Asphalt or bitumen article production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Exports of Asphalt or Bitumen Articles

Exports from Romania

In 2022, the amount of asphalt or bitumen articles exported from Romania expanded markedly to X tons, increasing by 14% compared with 2021 figures. In general, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 17%. The exports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, asphalt or bitumen article exports surged to $X in 2022. Over the period under review, total exports indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +73.7% against 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Bulgaria (X tons) was the main destination for asphalt or bitumen article exports from Romania, accounting for a 61% share of total exports. Moreover, asphalt or bitumen article exports to Bulgaria exceeded the volume sent to the second major destination, Greece (X tons), twofold. The third position in this ranking was held by Moldova (X tons), with a 3.7% share.

From 2012 to 2022, the average annual growth rate of volume to Bulgaria stood at +1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+2.4% per year) and Moldova (+10.8% per year).

In value terms, Bulgaria ($X) remains the key foreign market for asphalt or bitumen articles exports from Romania, comprising 60% of total exports. The second position in the ranking was taken by Greece ($X), with a 29% share of total exports. It was followed by Moldova, with a 5.3% share.

From 2012 to 2022, the average annual growth rate of value to Bulgaria amounted to +2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+4.2% per year) and Moldova (+9.5% per year).

Export Prices by Country

In 2022, the average asphalt or bitumen article export price amounted to $X per ton, rising by 10% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average export price increased by 11%. The export price peaked in 2022 and is likely to continue growth in the near future.

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 Moldova ($X per ton), while the average price for exports to Albania ($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 Turkey (+15.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Asphalt or Bitumen Articles

Imports into Romania

In 2022, after four years of growth, there was significant decline in overseas purchases of asphalt or bitumen articles, when their volume decreased by -26.3% to X tons. The total import volume increased at an average annual rate of +1.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when imports increased by 18%. Imports peaked at X tons in 2021, and then declined dramatically in the following year.

In value terms, asphalt or bitumen article imports reduced to $X in 2022. In general, total imports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +61.9% against 2016 indices. The most prominent rate of growth was recorded in 2021 with an increase of 36%. As a result, imports reached the peak of $X, and then reduced in the following year.

Imports by Country

Italy (X tons), Poland (X tons) and Austria (X tons) were the main suppliers of asphalt or bitumen article imports to Romania, together accounting for 52% of total imports. Slovakia, Turkey, Russia, Serbia, France, Germany and Lithuania lagged somewhat behind, together comprising a further 44%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +24.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Poland ($X) and Austria ($X) constituted the largest asphalt or bitumen article suppliers to Romania, together comprising 57% of total imports. Turkey, Slovakia, France, Serbia, Germany, Russia and Lithuania lagged somewhat behind, together accounting for a further 38%.

In terms of the main suppliers, France, with a CAGR of +20.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average asphalt or bitumen article import price amounted to $X per ton, rising by 17% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, 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 Germany ($X per ton), while the price for Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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