United Kingdom: Petroleum Bitumen Market 2024

Petroleum Bitumen Market Size in the UK

In 2022, the UK petroleum bitumen market increased by X% to $X, rising for the second year in a row after three years of decline. Over the period under review, consumption recorded a relatively flat trend pattern. Petroleum bitumen consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Petroleum Bitumen Production in the UK

In value terms, petroleum bitumen production shrank significantly to $X in 2022 estimated in export price. In general, production showed a abrupt downturn. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. Petroleum bitumen production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Petroleum Bitumen Exports

Exports from the UK

In 2022, petroleum bitumen exports from the UK shrank to X tons, falling by X% on 2021. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, petroleum bitumen exports totaled $X in 2022. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Ireland (X tons) was the main destination for petroleum bitumen exports from the UK, accounting for a X% share of total exports. Moreover, petroleum bitumen exports to Ireland exceeded the volume sent to the second major destination, Finland (X tons), fourfold. Sweden (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ireland stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (X.6% per year) and Sweden (X% per year).

In value terms, Ireland ($X) remains the key foreign market for petroleum bitumen exports from the UK, comprising X% of total exports. The second position in the ranking was taken by Finland ($X), with a X% share of total exports. It was followed by Sweden, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Ireland was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (X.7% per year) and Sweden (X% per year).

Export Prices by Country

In 2022, the average petroleum bitumen export price amounted to $X per ton, 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 most prominent rate of growth was recorded in 2018 an increase of X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Norway ($X per ton), while the average price for exports to the Netherlands ($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 Norway (X%), while the prices for the other major destinations experienced a decline.

Petroleum Bitumen Imports

Imports into the UK

In 2022, the amount of petroleum bitumen imported into the UK rose sharply to X tons, picking up by X% against the year before. Overall, imports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, petroleum bitumen imports skyrocketed to $X in 2022. In general, imports showed a prominent increase. The growth pace was the most rapid in 2013 when imports increased by X%. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest supplier of petroleum bitumen to the UK, accounting for a X% share of total imports. Moreover, petroleum bitumen imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Turkey (X tons), threefold. The third position in this ranking was held by Germany (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from the Netherlands totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Germany (X% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of petroleum bitumen to the UK, comprising X% of total imports. The second position in the ranking was held by Turkey ($X), with a X% share of total imports. It was followed by Sweden, with a X% share.

From 2012 to 2022, the average annual growth rate of value from the Netherlands totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Sweden (X% per year).

Import Prices by Country

In 2022, the average petroleum bitumen import price amounted to $X per ton, with an increase of X% against the previous year. In general, the import price, however, saw a mild setback. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Spain ($X per ton) and Belgium ($X per ton), while the price for Germany ($X per ton) and Sweden ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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