United Kingdom: Market for Asphalt or Bitumen Articles 2024

Market Size for Asphalt or Bitumen Articles in the UK

The UK asphalt or bitumen article market shrank modestly to $X in 2022, which is down by -3.4% against the previous year. Overall, consumption saw a slight decrease. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Production of Asphalt or Bitumen Articles in the UK

In value terms, asphalt or bitumen article production shrank rapidly to $X in 2022 estimated in export price. In general, production faced a drastic downturn. The growth pace was the most rapid in 2021 when the production volume increased by 251%. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Exports of Asphalt or Bitumen Articles

Exports from the UK

In 2022, overseas shipments of asphalt or bitumen articles decreased by -16.6% to X tons, falling for the third year in a row after two years of growth. Over the period under review, exports showed a perceptible descent. The most prominent rate of growth was recorded in 2014 when exports increased by 31% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, asphalt or bitumen article exports dropped to $X in 2022. In general, exports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2019 with an increase of 27% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Ireland (X tons) was the main destination for asphalt or bitumen article exports from the UK, with a 36% share of total exports. Moreover, asphalt or bitumen article exports to Ireland exceeded the volume sent to the second major destination, China (X tons), fourfold. France (X tons) ranked third in terms of total exports with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ireland was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+23.4% per year) and France (+10.4% per year).

In value terms, Ireland ($X) remains the key foreign market for asphalt or bitumen articles exports from the UK, comprising 33% of total exports. The second position in the ranking was taken by Nicaragua ($X), with an 8% share of total exports. It was followed by Qatar, with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Ireland stood at +3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (0.0% per year) and Qatar (-15.3% per year).

Export Prices by Country

The average asphalt or bitumen article export price stood at $X per ton in 2022, with an increase of 10% against the previous year. Over the period under review, the export price, however, continues to indicate a mild slump. The most prominent rate of growth was recorded in 2021 an increase of 16%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Ghana ($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 Ireland (+3.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Asphalt or Bitumen Articles

Imports into the UK

In 2022, overseas purchases of asphalt or bitumen articles decreased by -14.8% to X tons, falling for the third consecutive year after four years of growth. In general, imports, however, showed a notable expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 50%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, asphalt or bitumen article imports expanded sharply to $X in 2022. The total import value increased at an average annual rate of +3.6% 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 2013 with an increase of 27%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

Italy (X tons), Germany (X tons) and France (X tons) were the main suppliers of asphalt or bitumen article imports to the UK, together accounting for 66% of total imports. Poland, Belgium, Slovakia, Russia, Portugal, Lithuania, the Netherlands, Spain and Turkey lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the biggest increases were recorded for Portugal (with a CAGR of +251.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Germany ($X) and France ($X) appeared to be the largest asphalt or bitumen article suppliers to the UK, with a combined 70% share of total imports. Poland, Belgium, the Netherlands, Spain, Portugal, Slovakia, Turkey, Russia and Lithuania lagged somewhat behind, together comprising a further 24%.

Portugal, with a CAGR of +270.0%, saw the highest growth rate of 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

In 2022, the average asphalt or bitumen article import price amounted to $X per ton, with an increase of 25% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The import price peaked at $X per ton in 2012; afterwards, it flattened through to 2022.

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 Spain ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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