Slovenia: Market for Asphalt or Bitumen Articles 2024

Market Size for Asphalt or Bitumen Articles in Slovenia

In 2022, the Slovene asphalt or bitumen article market increased by 8.1% to $X for the first time since 2018, thus ending a three-year declining trend. Overall, consumption saw a slight decline. Asphalt or bitumen article consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Production of Asphalt or Bitumen Articles in Slovenia

In value terms, asphalt or bitumen article production rose remarkably to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 189% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Exports of Asphalt or Bitumen Articles

Exports from Slovenia

For the fourth year in a row, Slovenia recorded growth in shipments abroad of asphalt or bitumen articles, which increased by 0.5% to X tons in 2022. Over the period under review, exports showed a resilient increase. The most prominent rate of growth was recorded in 2020 when exports increased by 76% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, asphalt or bitumen article exports dropped rapidly to $X in 2022. Overall, exports saw a resilient expansion. The pace of growth appeared the most rapid in 2020 with an increase of 75% against the previous year. The exports peaked at $X in 2021, and then contracted markedly in the following year.

Exports by Country

Croatia (X tons) was the main destination for asphalt or bitumen article exports from Slovenia, with a 66% share of total exports. Moreover, asphalt or bitumen article exports to Croatia exceeded the volume sent to the second major destination, Austria (X tons), sixfold. Bosnia and Herzegovina (X tons) ranked third in terms of total exports with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Croatia stood at +20.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+28.7% per year) and Bosnia and Herzegovina (-2.6% per year).

In value terms, the largest markets for asphalt or bitumen article exported from Slovenia were Croatia ($X), Austria ($X) and Bosnia and Herzegovina ($X), together accounting for 72% of total exports. Jamaica, Hungary, Germany and Serbia lagged somewhat behind, together accounting for a further 22%.

Jamaica, with a CAGR of +256.8%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average asphalt or bitumen article export price amounted to $X per ton, shrinking by -16.7% against the previous year. Overall, the export price recorded a abrupt slump. The most prominent rate of growth was recorded in 2017 an increase of 11% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Serbia ($X per ton), while the average price for exports to Croatia ($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 Jamaica (+22.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Asphalt or Bitumen Articles

Imports into Slovenia

After three years of growth, purchases abroad of asphalt or bitumen articles decreased by -11% to X tons in 2022. The total import volume increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of 27%. Imports peaked at X tons in 2021, and then contracted in the following year.

In value terms, asphalt or bitumen article imports rose modestly to $X in 2022. Over the period under review, total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.3% 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 +18.2% against 2020 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 55%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, Italy (X tons) constituted the largest asphalt or bitumen article supplier to Slovenia, with a 49% share of total imports. Moreover, asphalt or bitumen article imports from Italy exceeded the figures recorded by the second-largest supplier, Poland (X tons), threefold. Serbia (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy stood at -1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+168.9% per year) and Serbia (+48.2% per year).

In value terms, Italy ($X) constituted the largest supplier of asphalt or bitumen articles to Slovenia, comprising 42% of total imports. The second position in the ranking was taken by Austria ($X), with an 18% share of total imports. It was followed by Poland, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+9.0% per year) and Poland (+150.1% per year).

Import Prices by Country

In 2022, the average asphalt or bitumen article import price amounted to $X per ton, with an increase of 18% against the previous year. Over the last decade, it increased at an average annual rate of +2.1%. The pace of growth appeared the most rapid in 2018 when the average import price increased by 23% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per ton), while the price for Serbia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform