Serbia: Market for Asphalt or Bitumen Articles 2025

Market Size for Asphalt or Bitumen Articles in Serbia

The Serbian asphalt or bitumen article market dropped to $X in 2022, with a decrease of -7.8% against the previous year. In general, consumption saw a slight curtailment. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Asphalt or Bitumen Articles in Serbia

In value terms, asphalt or bitumen article production fell slightly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a slight contraction. The growth pace was the most rapid in 2014 when the production volume increased by 135% against the previous year. Asphalt or bitumen article production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Asphalt or Bitumen Articles

Exports from Serbia

For the third year in a row, Serbia recorded growth in overseas shipments of asphalt or bitumen articles, which increased by 27% to X tons in 2022. In general, exports saw strong growth. The growth pace was the most rapid in 2021 when exports increased by 73%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, asphalt or bitumen article exports surged to $X in 2022. Over the period under review, exports saw a resilient expansion. The pace of growth appeared the most rapid in 2021 with an increase of 95%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons) was the main destination for asphalt or bitumen article exports from Serbia, with a 38% share of total exports. Moreover, asphalt or bitumen article exports to the United States exceeded the volume sent to the second major destination, Romania (X tons), threefold. The third position in this ranking was held by Slovenia (X tons), with a 7.5% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +116.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (-3.3% per year) and Slovenia (+174.0% per year).

In value terms, the United States ($X) remains the key foreign market for asphalt or bitumen articles exports from Serbia, comprising 50% of total exports. The second position in the ranking was taken by Italy ($X), with an 11% share of total exports. It was followed by Romania, with an 8.5% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +115.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+14.4% per year) and Romania (-1.0% per year).

Export Prices by Country

In 2022, the average asphalt or bitumen article export price amounted to $X per ton, with an increase of 12% against the previous year. Over the last decade, it increased at an average annual rate of +3.7%. The pace of growth appeared the most rapid in 2018 an increase of 28% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

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 Italy ($X per ton), while the average price for exports to Bulgaria ($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 Italy (+8.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Asphalt or Bitumen Articles

Imports into Serbia

In 2022, approx. X tons of asphalt or bitumen articles were imported into Serbia; waning by -23.1% on the previous year. Over the period under review, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 26%. Over the period under review, imports reached the peak figure at X tons in 2021, and then fell markedly in the following year.

In value terms, asphalt or bitumen article imports reached $X in 2022. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by 20% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Russia (X tons), Austria (X tons) and Italy (X tons) were the main suppliers of asphalt or bitumen article imports to Serbia, together comprising 53% of total imports. Turkey, Germany, Slovakia, North Macedonia, Poland and Belgium lagged somewhat behind, together comprising a further 45%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +55.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Austria ($X) and Italy ($X) appeared to be the largest asphalt or bitumen article suppliers to Serbia, together comprising 55% of total imports. Germany, Turkey, Poland, Slovakia, North Macedonia and Belgium lagged somewhat behind, together comprising a further 42%.

Among the main suppliers, Turkey, with a CAGR of +55.8%, recorded the highest growth rate of 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

The average asphalt or bitumen article import price stood at $X per ton in 2022, increasing by 30% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a 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 Belgium ($X per ton), while the price for North Macedonia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform