Romania: Petroleum Bitumen Market 2024

Petroleum Bitumen Market Size in Romania

In 2022, the Romanian petroleum bitumen market decreased by X% to $X for the first time since 2017, thus ending a four-year rising trend. Over the period under review, consumption saw a mild curtailment. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Petroleum Bitumen Production in Romania

In value terms, petroleum bitumen production dropped to $X in 2022 estimated in export price. Overall, production continues to indicate a moderate increase. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Petroleum Bitumen Exports

Exports from Romania

In 2022, overseas shipments of petroleum bitumen increased by X% to X tons, rising for the second year in a row after three years of decline. In general, exports enjoyed temperate growth. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, petroleum bitumen exports soared to $X in 2022. Over the period under review, exports recorded a mild expansion. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Moldova (X tons) was the main destination for petroleum bitumen exports from Romania, with a X% share of total exports. Moreover, petroleum bitumen exports to Moldova exceeded the volume sent to the second major destination, Bulgaria (X tons), ninefold.

From 2012 to 2022, the average annual growth rate of volume to Moldova totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (X% per year) and Ukraine (X% per year).

In value terms, Moldova ($X) remains the key foreign market for petroleum bitumen exports from Romania, comprising X% of total exports. The second position in the ranking was taken by Bulgaria ($X), with an X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Moldova amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (X% per year) and Ukraine (X% per year).

Export Prices by Country

In 2022, the average petroleum bitumen export price amounted to $X per ton, growing by X% against the previous year. In general, the export price, however, recorded a noticeable decline. The growth pace was the most rapid in 2014 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Moldova ($X per ton), while the average price for exports to Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (X%), while the prices for the other major destinations experienced mixed trend patterns.

Petroleum Bitumen Imports

Imports into Romania

In 2022, overseas purchases of petroleum bitumen decreased by X% to X tons, falling for the second consecutive year after two years of growth. In general, imports recorded a mild curtailment. The most prominent rate of growth was recorded in 2019 with an increase of X%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, petroleum bitumen imports reduced slightly to $X in 2022. Over the period under review, imports continue to indicate a noticeable decrease. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Hungary (X tons), Greece (X tons) and Turkey (X tons) were the main suppliers of petroleum bitumen imports to Romania, together comprising X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Greece (with a CAGR of X%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest petroleum bitumen suppliers to Romania were Hungary ($X), Greece ($X) and Turkey ($X), together accounting for X% of total imports.

Greece, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average petroleum bitumen import price amounted to $X per ton, surging by X% against the previous year. In general, the import price, however, continues to indicate a noticeable descent. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Hungary ($X per ton) and Poland ($X per ton), while the price for Italy ($X per ton) and Bulgaria ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :