Europe: Market for Natural Bitumen and Asphalt 2024

Market Size for Natural Bitumen and Asphalt in Europe

The Europe natural bitumen and asphalt market expanded to $X in 2023, surging by X% against the previous year. Over the period under review, consumption, however, saw a noticeable downturn. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2023, consumption stood at a somewhat lower figure.

Production of Natural Bitumen and Asphalt in Europe

In value terms, natural bitumen and asphalt production reached $X in 2023 estimated in export price. In general, production, however, continues to indicate a pronounced decrease. The growth pace was the most rapid in 2021 when the production volume increased by X%. The level of production peaked at $X in 2013; however, from 2014 to 2023, production stood at a somewhat lower figure.

Exports of Natural Bitumen and Asphalt

Exports in Europe

In 2023, approx. X tons of natural bitumen and asphalt were exported in Europe; rising by X% compared with the year before. Total exports indicated a pronounced expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

In value terms, natural bitumen and asphalt exports rose remarkably to $X in 2023. In general, exports continue to indicate a remarkable increase. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

In 2023, Spain (X tons), distantly followed by Italy (X tons) and Belgium (X tons) represented the largest exporters of natural bitumen and asphalt, together comprising X% of total exports. Croatia (X tons), Bosnia and Herzegovina (X tons) and the Netherlands (X tons) took a relatively small share of total exports.

From 2012 to 2023, the biggest increases were recorded for Bosnia and Herzegovina (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest natural bitumen and asphalt supplying countries in Europe were Spain ($X), Italy ($X) and Belgium ($X), with a combined X% share of total exports. The Netherlands, Croatia and Bosnia and Herzegovina lagged somewhat behind, together accounting for a further X%.

In terms of the main exporting countries, Bosnia and Herzegovina, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in Europe amounted to $X per ton, rising by X% against the previous year. Export price indicated a mild expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, natural bitumen and asphalt export price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. The level of export peaked in 2023 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while Croatia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Bosnia and Herzegovina (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Natural Bitumen and Asphalt

Imports in Europe

In 2023, the amount of natural bitumen and asphalt imported in Europe dropped rapidly to X tons, with a decrease of X% against the previous year's figure. Over the period under review, imports, however, enjoyed a slight expansion. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports attained the peak of X tons. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, natural bitumen and asphalt imports fell sharply to $X in 2023. Overall, imports, however, showed measured growth. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

France represented the main importer of natural bitumen and asphalt in Europe, with the volume of imports amounting to X tons, which was approx. X% of total imports in 2023. Denmark (X tons) ranks second in terms of the total imports with a X% share, followed by Poland (X%), Romania (X%) and Slovenia (X%). Luxembourg (X tons) and the UK (X tons) held a little share of total imports.

Imports into France increased at an average annual rate of X% from 2012 to 2023. At the same time, Romania (X%), the UK (X%), Denmark (X%) and Luxembourg (X%) displayed positive paces of growth. Moreover, Romania emerged as the fastest-growing importer imported in Europe, with a CAGR of X% from 2012-2023. By contrast, Slovenia (X%) and Poland (X%) illustrated a downward trend over the same period. While the share of France (X p.p.), Romania (X p.p.), Denmark (X p.p.) and the UK (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Slovenia (X p.p.) and Poland (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, France ($X) constitutes the largest market for imported natural bitumen and asphalt in Europe, comprising X% of total imports. The second position in the ranking was held by Denmark ($X), with a X% share of total imports. It was followed by Poland, with an X% share.

From 2012 to 2023, the average annual growth rate of value in France stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Denmark (X% per year) and Poland (X% per year).

Import Prices by Country

In 2023, the import price in Europe amounted to $X per ton, growing by X% against the previous year. Over the period under review, the import price recorded a perceptible expansion. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. Over the period under review, import prices reached the peak figure in 2023 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Denmark ($X per ton), while the UK ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by France (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform