Report Update: May 6, 2024

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

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Petroleum Bitumen Price in Greece - 2023

Petroleum Bitumen Price in Greece (FOB) - 2023

The average petroleum bitumen export price stood at $534 per ton in August 2023, surging by 6.7% against the previous month. Over the period under review, export price indicated a mild increase from August 2022 to August 2023: its price increased at an average monthly rate of +1.3% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on August 2023 figures, petroleum bitumen export price increased by +18.1% against April 2023 indices. The growth pace was the most rapid in April 2023 when the average export price increased by 20% month-to-month. Over the period under review, the average export prices attained the maximum in August 2023.

Average prices varied noticeably for the major foreign markets. In August 2023, the highest price was recorded for prices to Malta ($565 per ton) and France ($556 per ton), while the average price for exports to Algeria ($515 per ton) and Egypt ($518 per ton) were amongst the lowest.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+11.6%), while the prices for the other major destinations experienced more modest paces of growth.

Petroleum Bitumen Price in Greece (CIF) - 2022

In 2022, the average petroleum bitumen import price amounted to $362 per ton, falling by -5% against the previous year. Overall, the import price saw a noticeable decline. The growth pace was the most rapid in 2017 an increase of 69%. Over the period under review, average import prices attained the maximum at $573 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Italy.

From 2012 to 2022, the rate of growth in terms of prices for Turkey amounted to +5.0% per year.

Petroleum Bitumen Exports in Greece

In 2022, the amount of petroleum bitumen exported from Greece amounted to 1.2M tons, increasing by 4.1% on 2021. Over the period under review, exports, however, saw a noticeable setback. The most prominent rate of growth was recorded in 2020 when exports increased by 11% against the previous year. As a result, the exports reached the peak of 1.5M tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, petroleum bitumen exports skyrocketed to $588M in 2022. Overall, total exports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +11.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +50.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 23% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.

Export of Petroleum Bitumen in Greece (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Togo	83.9	93.6	119	178	28.5%
Belgium	N/A	N/A	N/A	67.2	0%
Romania	21.3	30.5	34.5	48.5	31.6%
Egypt	83.8	55.3	9.4	31.5	-27.8%
North Macedonia	12.7	11.1	16.0	29.3	32.1%
Bulgaria	23.4	21.2	34.6	28.3	6.5%
South Africa	N/A	N/A	N/A	26.2	0%
Algeria	4.8	13.3	N/A	24.4	71.9%
Cyprus	8.8	5.9	24.0	18.0	26.9%
Nigeria	N/A	N/A	N/A	17.2	0%
United States	50.3	51.7	73.7	15.9	-31.9%
Morocco	10.3	5.6	6.5	15.2	13.9%
Lebanon	12.8	3.9	6.7	14.3	3.8%
Others	118	98.9	158	73.8	-14.5%
Total	430	391	482	588	11.0%

Top Export Markets for Petroleum Bitumen from Greece in 2022:

Togo (368.1K tons)
Belgium (113.4K tons)
Romania (98.0K tons)
Egypt (71.2K tons)
South Africa (56.7K tons)
North Macedonia (55.5K tons)
Bulgaria (53.9K tons)
Algeria (52.3K tons)
Cyprus (40.1K tons)
United States (36.1K tons)
Lebanon (33.1K tons)
Morocco (33.0K tons)
Nigeria (30.3K tons)

Petroleum Bitumen Imports in Greece

In 2022, overseas purchases of petroleum bitumen decreased by -94.1% to 240 tons, falling for the second year in a row after two years of growth. In general, imports, however, recorded significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 20,911% against the previous year. As a result, imports attained the peak of 17K tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, petroleum bitumen imports declined significantly to $87K in 2022. Over the period under review, imports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 11,506%. As a result, imports attained the peak of $5.1M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Import of Petroleum Bitumen in Greece (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Italy	N/A	1.0	1.5	0.1	-68.4%
Serbia	N/A	0.3	N/A	N/A	0%
Turkey	N/A	3.7	N/A	N/A	0%
Others	N/A	0.1	N/A	N/A	0%
Total	N/A	5.1	1.5	0.1	-86.0%

Top Suppliers of Petroleum Bitumen to Greece in 2022:

Italy (240.1 tons)

Source: IndexBox Market Intelligence Platform

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

Greece

Data coverage:

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