Report Update: May 6, 2024

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

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Petroleum Bitumen Price in Norway - 2023

Petroleum Bitumen Price in Norway (CIF) - 2023

The average petroleum bitumen import price stood at $617 per ton in September 2023, approximately equating the previous month. Over the last twelve months, it increased at an average monthly rate of +1.1%. The most prominent rate of growth was recorded in January 2023 when the average import price increased by 57% against the previous month. As a result, import price attained the peak level of $731 per ton. From February 2023 to September 2023, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In September 2023, the highest price was recorded for prices from Germany ($700 per ton) and France ($655 per ton), while the price for Spain ($567 per ton) and Sweden ($572 per ton) were amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Germany (+2.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Petroleum Bitumen Price in Norway (FOB) - 2022

In 2022, the average petroleum bitumen export price amounted to $902 per ton, with an increase of 16% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the average export price increased by 18% against the previous year. Over the period under review, the average export prices hit record highs at $937 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Sweden.

From 2012 to 2022, the rate of growth in terms of prices for Sweden amounted to -0.4% per year.

Petroleum Bitumen Imports in Norway

Petroleum bitumen imports into Norway contracted markedly to 318K tons in 2022, shrinking by -15.9% compared with 2021 figures. In general, imports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 2.4%.

In value terms, petroleum bitumen imports expanded to $196M in 2022. Over the period under review, total imports indicated a perceptible increase from 2019 to 2022: its value increased at an average annual rate of +2.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +66.3% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 59%. Imports peaked in 2022 and are expected to retain growth in years to come.

Import of Petroleum Bitumen in Norway (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	29.8	10.4	37.3	52.8	21.0%
Sweden	95.2	69.8	78.8	41.6	-24.1%
Netherlands	1.5	6.9	6.7	24.5	153.7%
Belgium	17.9	7.4	16.5	20.2	4.1%
Lithuania	8.8	7.7	N/A	14.3	17.6%
Latvia	6.1	1.7	N/A	11.3	22.8%
Spain	5.9	N/A	N/A	9.8	18.4%
France	8.1	6.3	5.6	7.6	-2.1%
Russia	N/A	6.1	41.0	3.8	-21.1%
Finland	9.1	1.5	N/A	N/A	-83.5%
Others	0.1	0.1	1.4	10.0	364.2%
Total	183	118	187	196	2.3%

Top Suppliers of Petroleum Bitumen to Norway in 2022:

Finland (undefinedK tons)
Germany (90.3K tons)
Sweden (64.6K tons)
Netherlands (39.0K tons)
Belgium (31.8K tons)
Lithuania (24.5K tons)
Latvia (18.6K tons)
Spain (14.1K tons)
France (12.8K tons)
Russia (6.6K tons)

Petroleum Bitumen Exports in Norway

For the fourth consecutive year, Norway recorded growth in shipments abroad of petroleum bitumen, which increased by 19% to 197 tons in 2022. The total export volume increased at an average annual rate of +12.4% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, petroleum bitumen exports soared to $178K in 2022. Overall, total exports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +24.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +90.8% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Export of Petroleum Bitumen in Norway (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Sweden	90.4	106	55.1	178	25.3%
Belgium	2.7	N/A	17.0	N/A	150.9%
Others	N/A	3.7	56.5	N/A	1427.0%
Total	93.1	109	129	178	24.1%

Top Export Markets for Petroleum Bitumen from Norway in 2022:

Sweden (196.9 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the petroleum bitumen market in Norway. 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:

Norway

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Norway
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