Scandinavia: Petroleum Bitumen Market 2024

Petroleum Bitumen Market Size in Scandinavia

In 2023, the Scandinavia petroleum bitumen market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. Overall, consumption recorded a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2023, consumption failed to regain momentum.

Petroleum Bitumen Production in Scandinavia

In value terms, petroleum bitumen production expanded remarkably to $X in 2023 estimated in export price. In general, production, however, recorded a perceptible contraction. The pace of growth was the most pronounced in 2021 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2023, production stood at a somewhat lower figure.

Petroleum Bitumen Exports

Exports in Scandinavia

For the third consecutive year, Scandinavia recorded decline in overseas shipments of petroleum bitumen, which decreased by X% to X tons in 2023. Overall, exports recorded a noticeable decline. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, the exports attained the peak of X tons. From 2018 to 2023, the growth of the exports remained at a lower figure.

In value terms, petroleum bitumen exports contracted to $X in 2023. In general, exports saw a abrupt descent. The pace of growth was the most pronounced in 2017 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Sweden prevails in exports structure, finishing at X tons, which was approx. X% of total exports in 2023. Finland (X tons) followed a long way behind the leaders.

Sweden was also the fastest-growing in terms of the petroleum bitumen exports, with a CAGR of X% from 2012 to 2023. Finland (X%) illustrated a downward trend over the same period. Sweden (X p.p.) significantly strengthened its position in terms of the total exports, while Finland saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, Sweden ($X) remains the largest petroleum bitumen supplier in Scandinavia, comprising X% of total exports. The second position in the ranking was held by Finland ($X), with a X% share of total exports.

In Sweden, petroleum bitumen exports plunged by an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

In 2023, the export price in Scandinavia amounted to $X per ton, remaining constant against the previous year. Over the period under review, the export price, however, saw a slight shrinkage. The most prominent rate of growth was recorded in 2018 an increase of X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while Finland stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Sweden (X%).

Petroleum Bitumen Imports

Imports in Scandinavia

In 2023, after three years of growth, there was significant decline in overseas purchases of petroleum bitumen, when their volume decreased by X% to X tons. Total imports indicated modest growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2023, imports failed to regain momentum.

In value terms, petroleum bitumen imports dropped sharply to $X in 2023. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2022, and then contracted rapidly in the following year.

Imports by Country

In 2023, Norway (X tons) and Sweden (X tons) represented the key importers of petroleum bitumen in Scandinavia, together achieving X% of total imports. It was distantly followed by Finland (X tons), committing a X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Sweden (with a CAGR of X%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest petroleum bitumen importing markets in Scandinavia were Norway ($X), Sweden ($X) and Finland ($X).

Among the main importing countries, Sweden, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2023, the import price in Scandinavia amounted to $X per ton, reducing by X% against the previous year. In general, the import price showed a perceptible descent. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Norway ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Norway (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform