Report Update: May 6, 2024

Lithuania - Petroleum Bitumen - Market Analysis, Forecast, Size, Trends And Insights

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

Petroleum Bitumen Price in Lithuania - 2023

Petroleum Bitumen Price in Lithuania (FOB) - 2023

In September 2023, the average petroleum bitumen export price amounted to $568 per ton, picking up by 3.2% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +1.6%. The pace of growth was the most pronounced in August 2023 an increase of 21% m-o-m. Over the period under review, the average export prices hit record highs in September 2023.

Average prices varied somewhat for the major overseas markets. In September 2023, the highest price was recorded for prices to Sweden ($645 per ton) and Finland ($589 per ton), while the average price for exports to France ($446 per ton) and the UK ($526 per ton) were amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Ireland (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.

Petroleum Bitumen Price in Lithuania (CIF) - 2022

The average petroleum bitumen import price stood at $571 per ton in 2022, surging by 27% against the previous year. In general, the import price, however, saw a mild decrease. The pace of growth appeared the most rapid in 2017 an increase of 53% against the previous year. Over the period under review, average import prices reached the maximum at $675 per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($664 per ton), while the price for Estonia ($326 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Latvia (+2.0%), while the prices for the other major suppliers experienced a decline.

Petroleum Bitumen Exports in Lithuania

In 2022, overseas shipments of petroleum bitumen were finally on the rise to reach 261K tons after two years of decline. In general, exports, however, showed a abrupt shrinkage.

In value terms, petroleum bitumen exports soared to $125M in 2022. Overall, total exports indicated a pronounced expansion from 2019 to 2022: its value increased at an average annual rate of +3.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +79.3% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Export of Petroleum Bitumen in Lithuania (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Latvia	73.9	33.3	36.4	46.0	-14.6%
Sweden	6.5	5.4	11.1	33.6	72.9%
Estonia	10.8	6.7	12.9	19.1	20.9%
Norway	N/A	6.1	N/A	14.4	53.6%
Finland	4.5	1.8	7.8	5.3	5.6%
Malaysia	9.5	N/A	N/A	N/A	0%
United Kingdom	3.0	2.4	N/A	N/A	-20.0%
Netherlands	N/A	4.5	N/A	N/A	0%
Others	5.3	9.6	24.4	6.9	9.2%
Total	113	69.8	92.7	125	3.4%

Top Export Markets for Petroleum Bitumen from Lithuania in 2022:

Latvia (94.4K tons)
Sweden (72.9K tons)
Estonia (37.2K tons)
Norway (29.4K tons)
Finland (10.8K tons)

Petroleum Bitumen Imports in Lithuania

In 2022, purchases abroad of petroleum bitumen decreased by -19.1% to 45K tons, falling for the second year in a row after two years of growth. Overall, imports recorded a deep slump. The pace of growth was the most pronounced in 2020 when imports increased by 16% against the previous year. As a result, imports attained the peak of 76K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, petroleum bitumen imports totaled $26M in 2022. The total import value increased at an average annual rate of +4.6% from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 11%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Import of Petroleum Bitumen in Lithuania (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Poland	11.7	9.8	13.4	15.3	9.4%
Netherlands	N/A	N/A	N/A	3.3	0%
Russia	N/A	5.2	3.2	2.7	-27.9%
Latvia	0.4	1.7	4.5	2.3	79.2%
Kazakhstan	N/A	N/A	N/A	1.9	0%
Estonia	0.2	0.2	1.3	0.2	0.0%
Belarus	10.1	5.3	2.5	N/A	-50.2%
Others	0.1	0.3	0.2	0.1	0.0%
Total	22.6	22.5	25.1	25.8	4.5%

Top Suppliers of Petroleum Bitumen to Lithuania in 2022:

Poland (23.0K tons)
Netherlands (7.5K tons)
Russia (6.4K tons)
Latvia (4.0K tons)
Kazakhstan (3.7K tons)
Estonia (0.5K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the petroleum bitumen market in Lithuania. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Country coverage:

Lithuania

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Lithuania
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023