Scandinavia: Bituminous Mixtures Market 2024

Bituminous Mixtures Market Size in Scandinavia

After two years of decline, the Scandinavia bituminous mixtures market increased by 45% to $X in 2021. The total consumption indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Bituminous Mixtures Production in Scandinavia

In value terms, bituminous mixtures production skyrocketed to $X in 2021 estimated in export price. The total production indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Bituminous Mixtures Exports

Exports in Scandinavia

In 2021, the amount of bituminous mixtures exported in Scandinavia shrank markedly to X tons, declining by -27.7% against 2020 figures. Over the period under review, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 149% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, bituminous mixtures exports expanded markedly to $X in 2021. Total exports indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when exports increased by 62%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

In 2021, Sweden (X tons) represented the key exporter of bituminous mixtures, creating 58% of total exports. Finland (X tons) took a 20% share (based on physical terms) of total exports, which put it in second place, followed by Denmark (17%). Norway (X tons) followed a long way behind the leaders.

Sweden was also the fastest-growing in terms of the bituminous mixtures exports, with a CAGR of +8.3% from 2012 to 2021. Norway (-2.9%), Denmark (-5.0%) and Finland (-5.5%) illustrated a downward trend over the same period. Sweden (+28 p.p.) significantly strengthened its position in terms of the total exports, while Norway, Denmark and Finland saw its share reduced by -1.6%, -11.5% and -15.1% from 2012 to 2021, respectively.

In value terms, Sweden ($X) remains the largest bituminous mixtures supplier in Scandinavia, comprising 64% of total exports. The second position in the ranking was taken by Denmark ($X), with a 25% share of total exports. It was followed by Finland, with a 7.8% share.

From 2012 to 2021, the average annual growth rate of value in Sweden amounted to +3.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Denmark (-1.4% per year) and Finland (-2.2% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2021, growing by 51% against the previous year. Overall, the export price posted a modest increase. The pace of growth appeared the most rapid in 2019 an increase of 146%. Over the period under review, the export prices attained the maximum in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Denmark ($X per ton), while Finland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+6.0%), while the other leaders experienced more modest paces of growth.

Bituminous Mixtures Imports

Imports in Scandinavia

In 2021, after four years of growth, there was significant decline in supplies from abroad of bituminous mixtures, when their volume decreased by -62.2% to X tons. Over the period under review, imports, however, continue to indicate strong growth. The pace of growth was the most pronounced in 2020 with an increase of 174% against the previous year. As a result, imports attained the peak of X tons, and then reduced markedly in the following year.

In value terms, bituminous mixtures imports shrank remarkably to $X in 2021. Overall, imports, however, recorded a pronounced increase. The most prominent rate of growth was recorded in 2020 with an increase of 153%. As a result, imports attained the peak of $X, and then contracted remarkably in the following year.

Imports by Country

In 2021, Norway (X tons), Finland (X tons) and Sweden (X tons) represented the key importer of bituminous mixtures in Scandinavia, comprising 90% of total import. It was distantly followed by Denmark (X tons), achieving an 8.8% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Finland (with a CAGR of +22.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Finland ($X), Norway ($X) and Sweden ($X) were the countries with the highest levels of imports in 2021, together comprising 88% of total imports.

Finland, with a CAGR of +24.8%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per ton, surging by 33% against the previous year. Overall, the import price, however, saw a mild setback. The growth pace was the most rapid in 2016 an increase of 36% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Finland ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+4.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform