Spain: Market for Asphalt or Bitumen Articles 2024

Market Size for Asphalt or Bitumen Articles in Spain

In 2022, the Spanish asphalt or bitumen article market increased by 2.4% to $X, rising for the sixth year in a row after four years of decline. Overall, consumption showed a pronounced decrease. Asphalt or bitumen article consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Asphalt or Bitumen Articles in Spain

In value terms, asphalt or bitumen article production surged to $X in 2022 estimated in export price. In general, the total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +84.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 39%. Over the period under review, production reached the peak level in 2022 and is expected to retain growth in the near future.

Exports of Asphalt or Bitumen Articles

Exports from Spain

Asphalt or bitumen article exports from Spain soared to X tons in 2022, growing by 50% compared with 2021 figures. In general, total exports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +5.2% 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 +88.4% against 2018 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, asphalt or bitumen article exports surged to $X in 2022. Overall, total exports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.2% 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 +103.6% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

France (X tons) was the main destination for asphalt or bitumen article exports from Spain, with a 50% share of total exports. Moreover, asphalt or bitumen article exports to France exceeded the volume sent to the second major destination, Portugal (X tons), twofold. Germany (X tons) ranked third in terms of total exports with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to France amounted to +10.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+10.1% per year) and Germany (+121.8% per year).

In value terms, France ($X) remains the key foreign market for asphalt or bitumen articles exports from Spain, comprising 48% of total exports. The second position in the ranking was taken by Portugal ($X), with a 19% share of total exports. It was followed by Germany, with a 6.5% share.

From 2012 to 2022, the average annual growth rate of value to France stood at +9.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+6.1% per year) and Germany (+111.5% per year).

Export Prices by Country

In 2022, the average asphalt or bitumen article export price amounted to $X per ton, increasing by 7.4% against the previous year. In general, the export price, however, saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2021 an increase of 13% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Portugal ($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 (+2.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Asphalt or Bitumen Articles

Imports into Spain

In 2022, the amount of asphalt or bitumen articles imported into Spain surged to X tons, increasing by 24% against the previous year. Overall, imports, however, recorded a abrupt setback. The pace of growth appeared the most rapid in 2013 when imports increased by 46%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, asphalt or bitumen article imports amounted to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when imports increased by 31%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Portugal (X tons), Italy (X tons) and France (X tons) were the main suppliers of asphalt or bitumen article imports to Spain, together accounting for 75% of total imports. Lithuania, Germany, Turkey, the Czech Republic and the Netherlands lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +46.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Portugal ($X), Italy ($X) and France ($X) appeared to be the largest asphalt or bitumen article suppliers to Spain, with a combined 75% share of total imports. Turkey, Lithuania, Germany, the Czech Republic and the Netherlands lagged somewhat behind, together comprising a further 17%.

In terms of the main suppliers, Turkey, with a CAGR of +69.5%, recorded 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, shrinking by -14.1% against the previous year. Overall, the import price, however, saw a resilient increase. The pace of growth was the most pronounced in 2021 an increase of 63%. As a result, import price reached the peak level of $X per ton, and then contracted in the following year.

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 the Netherlands ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+35.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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