Asphalt and bitumen articles market in Greece

Earlier Report Observations

Between 2018 and 2020, the Greek market for asphalt and bitumen articles was influenced by EU-wide raw material supply challenges and tightening environmental regulations, which pressured input costs and availability. Despite this, production increased to 15.1 million USD in 2019, and the total market size grew to 20.7 million USD. However, in 2020, a sharp rise in energy prices, particularly for natural gas and petroleum products, led to a decline in production to 13.8 million USD and a contraction of the market to 16.6 million USD, as higher energy costs impacted asphalt production economics.

From 2021 onward, import values fluctuated, peaking at 8.1 million USD in 2022, while exports grew steadily to reach 10.9 million USD in 2024. This export expansion occurred amidst evolving international energy prices and Greece's pursuit of ambitious 2030 and 2050 energy targets, which emphasized sustainable infrastructure and affected raw material costs. In 2024, new EU hazard classifications for chemical products and Regulation (EU) 2024/1252 introduced updated licensing and environmental compliance rules for asphalt, coinciding with the anticipated revised National Energy and Climate Plan focusing on low-carbon construction materials.

Production asphalt and bitumen articles in Greece

In value, 2017-2020, K $ US

In 2020, Greece's output of asphalt and bitumen articles was valued at 13 773 thousand US dollars, marking a 9.0% decrease compared to the previous year. Over the period from 2017 to 2020, production declined by 4%, which translates to an average annual rate of 1.3%. The lowest value was recorded in 2018 at 13 422 thousand US dollars, while the peak occurred in 2019 with 15 131 thousand US dollars. The most significant increase was observed in 2019, reaching 12.7%.

Annual dynamics of production in Greece in value, 2017-2020, K $ US

Exports asphalt and bitumen articles from Greece

Exports in kind, t

The market displayed an unstable trend throughout the timeframe. Export volumes reached their lowest point in 2017 and peaked in 2020, showing a 3.9-fold difference between these years. In 2020, Greece's export volume of asphalt and bitumen articles amounted to 6 877 tonnes, representing a sharp increase of 220.5% compared to the prior year. The largest decline was recorded in 2019 at 14.5%.

Annual dynamics of product's exports from Greece in kind, 2017-2020, t

From 2017 to 2020, Israel (39.1% of exports in kind), Albania (17.0% of exports in kind), and Bulgaria (15.9% of exports in kind) consistently held the leading positions in Greece's export structure for asphalt and bitumen articles. Together, these three countries accounted for 72.0% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Greece in kind, 2017-2020

Exports in value, K $ US

The market exhibited volatile behavior during these years. Export values were at their lowest in 2017 and reached their highest in 2020, reflecting a 3.6-fold gap. In 2020, Greece's cross-border shipments of asphalt and bitumen articles totaled 3 511 thousand US dollars, which is 240.4% more than in 2019. The largest decline was recorded in 2019 at 25.1%.

Annual dynamics of product's exports from Greece in value, 2017-2020, K $ US

Between 2017 and 2020, the leading destinations for Greece's exports of asphalt and bitumen articles in value terms were Israel (38.5% of exports in value terms), Bulgaria (14.3% of exports in value terms), and Cyprus (12.9% of exports in value terms). Collectively, these three markets represented 65.8% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Greece in value, 2017-2020

Imports asphalt and bitumen articles to Greece

Imports in kind, t

After a two-year period of growth, Greece's import volumes of asphalt and bitumen articles declined. In 2020, Greece imported 10 631 tonnes of these articles, showing a slight reduction of 2.4% compared to 2019. Over the span from 2017 to 2020, imports increased by 13.9%, equating to an average annual rate of 4.4%. The highest volume was recorded in 2019 at 10 893 tonnes, with the largest increase occurring in 2018 at 9.9%.

Annual dynamics of product's imports to Greece in kind, 2017-2020, t

Throughout 2017 to 2020, Italy (32.7% of imports in kind), Romania (26.8% of imports in kind), and Russia (13.4% of imports in kind) formed the key group of partners for Greece's imports of asphalt and bitumen articles in kind. Together, these countries represented 73.0% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Greece in kind, 2017-2020

Imports in value, K $ US

Following a two-year increase, Greece's import value of asphalt and bitumen articles declined. In 2020, Greece imported approximately 6 388 thousand US dollars of these articles, which is 2.5% less than the previous year. From 2017 to 2020, imports rose by 12.8%, corresponding to an average annual rate of 4.1%. The peak value was recorded in 2019 at 6 554 thousand US dollars, with the most significant increase in 2018 at 14.2%.

Annual dynamics of product's imports to Greece in value, 2017-2020, K $ US

From 2017 to 2020, Italy (36.7% of imports in value terms), Romania (23.3% of imports in value terms), and Russia (10.7% of imports in value terms) constituted the core group of markets for Greece's imports of asphalt and bitumen articles in value terms. Collectively, they accounted for 70.8% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Greece in value, 2017-2020