🌍 Global & Regional Market Trends November 2025

Supply constraints in Europe push bitumen markets into tighter balance

In northern Europe, a key bitumen refinery — TotalEnergies’s bitumen-focused plant in Brunsbüttel (Germany) — remains shut five weeks after a fire in October. The prolonged halt is tightening supply for northwest European and Nordic markets, which had already been experiencing a seasonal slowdown in road-work demand.

This reduction in supply has helped stabilize cargo premiums and prevent steeper spot-price declines.

Diverging regional demand — Asia cooling, Middle East holding firm

According to a mid-November market report, many Asian markets (especially in Southeast Asia and China) saw bitumen demand weaken as road construction slowed for the season. Prices in Singapore, South Korea, and parts of China dropped accordingly.

In contrast, some Middle Eastern markets saw prices holding up or rising — driven by tighter supply, refinery maintenance elsewhere, and logistical constraints.

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📉 Price Movements in November 2025

According to price index data from late November, bitumen prices in major markets have declined. On 27 November 2025, a benchmark price in CNY-denominated markets dropped to about 2,975 CNY/t, reflecting a ~9–10% drop over the past month.

More globally, spot prices for certain grades such as VG30/VG40 were trading in the US $374–379/t range in mid-November.

Analysts link these drops mainly to weakening demand (especially from Asia), seasonal slowdown in roadworks, and softer crude-oil prices.

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📈 Medium-Term Forecasts: Growth with Modest Momentum

Two major recent market reports highlight the medium-term trajectory for bitumen in the Europe:

The IndexBox forecast projects the EU’s petroleum-derived bitumen market will grow to ≈ 17 million tons by 2035, valued at ≈ US $9.4 billion.

For non-rolled bitumen products (used for industrial/emulsion/alternative bitumen applications), the EU market is forecast to reach 1 million tons (value ≈ US $1.3 billion) by 2035.

These forecasts suggest stable but modest growth (~1–2.5% CAGR), underlining bitumen’s consistent role in infrastructure, construction, and industrial use across the EU.

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Pars Bitumen

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