Sweden: Market for Natural Bitumen and Asphalt 2024

Market Size for Natural Bitumen and Asphalt in Sweden

The Swedish natural bitumen and asphalt market surged to $X in 2021, growing by 3,357% against the previous year. Over the period under review, consumption posted a significant increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Natural Bitumen and Asphalt in Sweden

In value terms, natural bitumen and asphalt production totaled $X in 2021 estimated in export price. In general, production showed a notable expansion. The pace of growth was the most pronounced in 2016 when the production volume increased by 30%. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Exports of Natural Bitumen and Asphalt

Exports from Sweden

In 2021, after three years of growth, there was significant decline in overseas shipments of natural bitumen and asphalt, when their volume decreased by -37.1% to X tons. Overall, exports, however, showed a strong increase. The pace of growth appeared the most rapid in 2015 when exports increased by 218% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, natural bitumen and asphalt exports contracted to $X in 2021. In general, exports, however, showed moderate growth. The pace of growth appeared the most rapid in 2018 when exports increased by 84% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Finland (X tons), Norway (X tons) and Denmark (X tons) were the main destinations of natural bitumen and asphalt exports from Sweden, with a combined 100% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Finland (with a CAGR of +43.9%), while the other leaders experienced more modest paces of growth.

In value terms, Norway ($X) remains the key foreign market for natural bitumen and asphalt exports from Sweden, comprising 62% of total exports. The second position in the ranking was taken by Finland ($X), with a 30% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Norway amounted to +7.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (+23.3% per year) and Denmark (+11.5% per year).

Export Prices by Country

In 2021, the average natural bitumen and asphalt export price amounted to $X per ton, jumping by 37% against the previous year. In general, the export price, however, recorded a mild curtailment. The most prominent rate of growth was recorded in 2016 an increase of 247%. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Norway ($X per ton), while the average price for exports to Finland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Latvia (-4.0%), while the prices for the other major destinations experienced a decline.

Imports of Natural Bitumen and Asphalt

Imports into Sweden

In 2021, natural bitumen and asphalt imports into Sweden soared to X tons, growing by 158,063% compared with 2020 figures. Over the period under review, imports showed significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, natural bitumen and asphalt imports skyrocketed to $X in 2021. In general, imports enjoyed significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest natural bitumen and asphalt supplier to Sweden, accounting for a 14% share of total imports. It was followed by Denmark (X tons), with a 0.2% share of total imports. Finland (X tons) ranked third in terms of total imports with a 0.1% share.

From 2012 to 2021, the average annual growth rate of volume from the Netherlands stood at +155.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+3.1% per year) and Finland (-14.3% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of natural bitumen and asphalt to Sweden, comprising 99% of total imports. The second position in the ranking was taken by Finland ($X), with a 0.2% share of total imports. It was followed by Denmark, with a 0.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the Netherlands totaled +157.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Finland (+7.0% per year) and Denmark (+10.0% per year).

Import Prices by Country

The average natural bitumen and asphalt import price stood at $X per ton in 2021, shrinking by -90.5% against the previous year. Over the period under review, the import price, however, saw prominent growth. The pace of growth was the most pronounced in 2020 when the average import price increased by 2,958% against the previous year. As a result, import price attained the peak level of $X per ton, and then reduced notably in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Denmark ($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 (+31.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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