Eastern Europe: Petroleum Bitumen Market 2024

Petroleum Bitumen Market Size in Eastern Europe

The East European petroleum bitumen market contracted to $X in 2022, which is down by X% against the previous year. In general, consumption continues to indicate a mild curtailment. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Petroleum Bitumen Production in Eastern Europe

In value terms, petroleum bitumen production dropped to $X in 2022 estimated in export price. Over the period under review, production showed a pronounced setback. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Petroleum Bitumen Exports

Exports in Eastern Europe

In 2022, overseas shipments of petroleum bitumen decreased by X% to X tons for the first time since 2014, thus ending a seven-year rising trend. Total exports indicated a slight increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2021, and then declined notably in the following year.

In value terms, petroleum bitumen exports declined slightly to $X in 2022. In general, exports, however, continue to indicate a relatively flat trend pattern. 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, and then declined slightly in the following year.

Exports by Country

In 2022, Russia (X tons), distantly followed by Hungary (X tons), Poland (X tons), the Czech Republic (X tons), Lithuania (X tons), Slovakia (X tons) and Belarus (X tons) represented the major exporters of petroleum bitumen, together committing X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Slovakia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest petroleum bitumen supplying countries in Eastern Europe were Russia ($X), Hungary ($X) and Poland ($X), together comprising X% of total exports. The Czech Republic, Lithuania, Slovakia and Belarus lagged somewhat behind, together comprising a further X%.

Slovakia, 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

The export price in Eastern Europe stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in the Czech Republic ($X per ton) and Poland ($X per ton), while Belarus ($X per ton) and Lithuania ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (X%), while the other leaders experienced a decline in the export price figures.

Petroleum Bitumen Imports

Imports in Eastern Europe

After two years of growth, purchases abroad of petroleum bitumen decreased by X% to X tons in 2022. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The volume of import peaked at X tons in 2021, and then contracted notably in the following year.

In value terms, petroleum bitumen imports fell rapidly to $X in 2022. Overall, imports showed a mild decrease. The pace of growth was the most pronounced in 2021 when imports increased by X%. As a result, imports reached the peak of $X, and then reduced markedly in the following year.

Imports by Country

In 2022, Romania (X tons), distantly followed by Hungary (X tons), Poland (X tons), Ukraine (X tons), the Czech Republic (X tons), Latvia (X tons) and Slovakia (X tons) represented the key importers of petroleum bitumen, together making up X% of total imports.

From 2012 to 2022, 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, Romania ($X), Hungary ($X) and Poland ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Hungary, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries 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 Eastern Europe stood at $X per ton in 2022, jumping by X% against the previous year. Overall, the import price, however, saw a perceptible downturn. The most prominent rate of growth was recorded in 2017 when the import price increased by X%. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Slovakia ($X per ton) and Hungary ($X per ton), while Latvia ($X per ton) and Ukraine ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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