Europe: Petroleum Bitumen Market 2024

Petroleum Bitumen Market Size in Europe

The Europe petroleum bitumen market amounted to $X in 2023, rising by X% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2023, consumption failed to regain momentum.

Petroleum Bitumen Production in Europe

In value terms, petroleum bitumen production expanded notably to $X in 2023 estimated in export price. Overall, production, however, saw a pronounced contraction. The pace of growth was the most pronounced in 2021 when the production volume increased by X% against the previous year. 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 Europe

In 2023, approx. X tons of petroleum bitumen were exported in Europe; surging by X% compared with the previous year. 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 pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, the exports attained the peak figure at X tons in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

In value terms, petroleum bitumen exports rose to $X in 2023. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by X%. The level of export peaked at $X in 2013; afterwards, it flattened through to 2023.

Exports by Country

Greece (X tons), Germany (X tons), the Netherlands (X tons), Spain (X tons) and Italy (X tons) represented roughly X% of total exports in 2023. Russia (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by France (X%). The following exporters - Hungary (X tons), Belarus (X tons), Lithuania (X tons), the Czech Republic (X tons), Sweden (X tons) and Poland (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, Greece ($X), Germany ($X) and the Netherlands ($X) constituted the countries with the highest levels of exports in 2023, together accounting for X% of total exports.

Among the main exporting countries, Greece, with a CAGR of X%, saw the highest growth rate of 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

The export price in Europe stood at $X per ton in 2023, with a decrease of X% against the previous year. In general, the export price continues to indicate a mild downturn. The pace of growth appeared the most rapid in 2021 when the export price increased by X%. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

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 Poland ($X per ton), while Belarus ($X per ton) was amongst the lowest.

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

Petroleum Bitumen Imports

Imports in Europe

In 2023, overseas purchases of petroleum bitumen decreased by X% to X tons, falling for the second year in a row after two years of growth. The total import 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 imports increased by X%. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports remained at a lower figure.

In value terms, petroleum bitumen imports dropped to $X in 2023. Over the period under review, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by X%. The level of import peaked at $X in 2022, and then contracted in the following year.

Imports by Country

The purchases of the four major importers of petroleum bitumen, namely the UK, France, Belgium and Romania, represented more than third of total import. Norway (X tons), the Netherlands (X tons), Spain (X tons), Sweden (X tons), Germany (X tons), Austria (X tons), Hungary (X tons), Switzerland (X tons) and Poland (X tons) followed a long way behind the leaders.

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

In value terms, the largest petroleum bitumen importing markets in Europe were the UK ($X), France ($X) and Romania ($X), with a combined X% share of total imports.

In terms of the main importing countries, the UK, with a CAGR of X%, saw 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 2023, the import price in Europe amounted to $X per ton, approximately reflecting the previous year. In general, the import price recorded a slight shrinkage. The growth pace was the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Norway ($X per ton) and Romania ($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 Austria (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform