Serbia: Non-Rolled Bitumen Products Market 2024

Non-Rolled Bitumen Products Market Size in Serbia

The Serbian non-rolled bitumen products market reduced notably to $X in 2022, waning by -20.9% against the previous year. In general, consumption continues to indicate a noticeable shrinkage. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Non-Rolled Bitumen Products Production in Serbia

In value terms, non-rolled bitumen products production dropped slightly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a mild contraction. The most prominent rate of growth was recorded in 2014 with an increase of 135%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Non-Rolled Bitumen Products Exports

Exports from Serbia

Non-rolled bitumen products exports from Serbia contracted to X tons in 2022, with a decrease of -9.8% against 2021 figures. Over the period under review, exports, however, recorded a perceptible expansion. The pace of growth was the most pronounced in 2016 with an increase of 107%. The exports peaked at X tons in 2021, and then contracted in the following year.

In value terms, non-rolled bitumen products exports stood at $X in 2022. Overall, exports, however, posted a prominent expansion. The growth pace was the most rapid in 2021 when exports increased by 194%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Romania (X tons), Italy (X tons) and the Czech Republic (X tons) were the main destinations of non-rolled bitumen products exports from Serbia, together comprising 52% of total exports. Hungary, Croatia, Montenegro, Slovenia, Russia, North Macedonia and Bosnia and Herzegovina lagged somewhat behind, together comprising a further 44%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Slovenia (with a CAGR of +101.6%), while the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) remains the key foreign market for non-rolled bitumen products exports from Serbia, comprising 48% of total exports. The second position in the ranking was taken by Romania ($X), with a 14% share of total exports. It was followed by the Czech Republic, with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Italy totaled +86.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+1.6% per year) and the Czech Republic (+55.7% per year).

Export Prices by Country

In 2022, the average non-rolled bitumen products export price amounted to $X per ton, picking up by 12% against the previous year. In general, export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-rolled bitumen products export price increased by +71.2% against 2020 indices. The growth pace was the most rapid in 2021 when the average export price increased by 53%. The export price peaked in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Bosnia and Herzegovina ($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 Hungary (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Rolled Bitumen Products Imports

Imports into Serbia

In 2022, non-rolled bitumen products imports into Serbia contracted significantly to X tons, waning by -39.4% against the previous year's figure. Over the period under review, imports showed a abrupt decrease. The most prominent rate of growth was recorded in 2018 with an increase of 18% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, non-rolled bitumen products imports dropped sharply to $X in 2022. Overall, imports recorded a deep slump. The pace of growth was the most pronounced in 2018 with an increase of 21%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Slovakia (X tons), Russia (X tons) and Poland (X tons) were the main suppliers of non-rolled bitumen products imports to Serbia, with a combined 74% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +35.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest non-rolled bitumen products suppliers to Serbia were Slovakia ($X), Poland ($X) and Russia ($X), together accounting for 65% of total imports.

Russia, with a CAGR of +38.5%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average non-rolled bitumen products import price stood at $X per ton in 2022, with an increase of 19% against the previous year. Overall, the import price, however, continues to indicate a slight descent. Over the period under review, average import prices hit record highs 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 ($X per ton), while the price for Russia ($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 (+32.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform