EU: Petroleum Bitumen Market 2024

Petroleum Bitumen Market Size in the EU

The EU petroleum bitumen market reached $X in 2023, with an increase of X% against the previous year. In general, consumption saw a mild decrease. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Petroleum Bitumen Production in the EU

In value terms, petroleum bitumen production rose notably to $X in 2023 estimated in export price. Over the period under review, production, however, recorded a noticeable reduction. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

Petroleum Bitumen Exports

Exports in the EU

In 2023, overseas shipments of petroleum bitumen were finally on the rise to reach X tons for the first time since 2020, thus ending a two-year declining trend. The total export volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2020; however, from 2021 to 2023, the exports failed to regain momentum.

In value terms, petroleum bitumen exports amounted to $X in 2023. In general, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. The level of export peaked in 2023 and is likely to see gradual growth in the immediate term.

Exports by Country

In 2023, Greece (X tons), Germany (X tons), the Netherlands (X tons), Spain (X tons) and Italy (X tons) represented the largest exporter of petroleum bitumen in the European Union, generating X% of total export. France (X tons) ranks next in terms of the total exports with a X% share, followed by Hungary (X%). The following exporters - Lithuania (X tons), the Czech Republic (X tons), Sweden (X tons), Poland (X tons), Austria (X tons) and Belgium (X tons) - together made up X% of total exports.

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

In value terms, the largest petroleum bitumen supplying countries in the European Union were Greece ($X), Germany ($X) and the Netherlands ($X), with a combined X% share of total exports.

Greece, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries 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 the European Union amounted to $X per ton, waning by X% against the previous year. Overall, the export price continues to indicate a perceptible reduction. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Poland ($X per ton) and Austria ($X per ton), while Italy ($X per ton) and Greece ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Poland (X%), while the other leaders experienced a decline in the export price figures.

Petroleum Bitumen Imports

Imports in the EU

In 2023, imports of petroleum bitumen in the European Union declined to X tons, shrinking by X% compared with 2022. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

In value terms, petroleum bitumen imports fell to $X in 2023. Overall, imports continue to indicate a slight slump. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

The countries with the highest levels of petroleum bitumen imports in 2023 were France (X tons), Belgium (X tons) and Romania (X tons), together accounting for X% of total import. The Netherlands (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Spain (X%) and Sweden (X%). Germany (X tons), Austria (X tons), Hungary (X tons), Poland (X tons), Portugal (X tons), Ireland (X tons) and Finland (X tons) followed a long way behind the leaders.

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

In value terms, France ($X), Romania ($X) and Belgium ($X) constituted the countries with the highest levels of imports in 2023, together accounting for X% of total imports. Austria, Germany, Hungary, Sweden, Spain, Ireland, Poland, the Netherlands, Finland and Portugal lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Hungary, with a CAGR of X%, recorded the highest growth rate of 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

The import price in the European Union stood at $X per ton in 2023, approximately reflecting the previous year. Overall, the import price showed a mild shrinkage. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Ireland ($X per ton) and Finland ($X per ton), while the Netherlands ($X per ton) and Spain ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform