-45 % change
Extra-EU imports of CN 27101962 were down 45% in 2025 compared with 2020 (€447.1 million), calculated from Eurostat values.
Eurostat2.06 EUR billion
EU exports of CN 27101962 to countries outside the EU were worth €2.06 billion in 2025.
Eurostat2.82 EUR billion
Trade between EU member states in CN 27101962 (intra-EU arrivals) came to €2.82 billion in 2025.
EurostatSource: Eurostat
Why this market is moving now
- Extra-EU import value moved -45% from 2020 to 2025, a direct read on EU demand for sourced supply.
- Supply is concentrated: one country provided a large share of extra-EU imports in 2025.
- US employment in the core industry shifted -6% since 2020.
What this market covers
Heavy and blended marine fuel oils burned in ship engines. Buyers are shipping lines, bunker traders and port suppliers that fuel cargo and passenger vessels.
Typical segments
- High sulfur fuel oil
- Very low sulfur fuel oil
- Marine gas oil
- Biofuel blends
Who buys
- Container and bulk shipping lines
- Bunker traders
- Port fuel suppliers
Largest non-EU suppliers to the EU
| Country | Import value |
|---|---|
| Norway | 123.2 EUR million |
| United Kingdom | 48.1 EUR million |
| Countries and territories not specified within the framework of extra-Union trade | 40.8 EUR million |
| Countries and territories not specified within the framework of intra-Union trade | 26.7 EUR million |
| United States from 1995 -> 2000) | 17.5 EUR million |
| Türkiye | 8.2 EUR million |
Key figures
Each figure links to the page it came from.
| Figure | Value | Year | Source |
|---|---|---|---|
| The EU imported €247.3 million of products under CN code 27101962 (Fuel oils obtained from bituminous materials, with a sulphur content of <= 0,1% by weight) from outside the EU in 2025. | 247.3 EUR million | 2025 | Eurostat |
| Extra-EU imports of CN 27101962 were down 45% in 2025 compared with 2020 (€447.1 million), calculated from Eurostat values. | -45 % change | 2025 | Eurostat |
| EU exports of CN 27101962 to countries outside the EU were worth €2.06 billion in 2025. | 2.06 EUR billion | 2025 | Eurostat |
| Trade between EU member states in CN 27101962 (intra-EU arrivals) came to €2.82 billion in 2025. | 2.82 EUR billion | 2025 | Eurostat |
| Norway was the largest non-EU supplier of CN 27101962 to the EU in 2025, with €123.2 million, or 50% of extra-EU imports. | 123.2 EUR million | 2025 | Eurostat |
| EU exports of CN 27101962 to the United States were €121.8 million in 2025. | 121.8 EUR million | 2025 | Eurostat |
| The average value of extra-EU imports of CN 27101962 was €0.61 per kilogram in 2025, calculated from Eurostat value and weight. | 0.61 EUR per kg | 2025 | Eurostat |
| Belgium was the largest EU exporter of CN 27101962 to non-EU countries in 2025, at €925.9 million. | 925.9 EUR million | 2025 | Eurostat |
| The EU had 723 enterprises in NACE class C1920 (Manufacture of refined petroleum products) in 2023. | 723 enterprises | 2023 | Eurostat |
| EU enterprises in NACE class C1920 had net turnover of €580.52 billion in 2023. | 580.52 EUR billion | 2023 | Eurostat |
| NACE class C1920 employed 160,000 people across the EU in 2023. | 160,000 persons employed | 2023 | Eurostat |
| The US had 685 private establishments in NAICS 324110 (Petroleum refineries) in 2025. | 685 establishments | 2025 | U.S. Bureau of Labor Statistics |
| NAICS 324110 employed an average of 62,480 people in US private industry in 2025. | 62,480 jobs | 2025 | U.S. Bureau of Labor Statistics |
| US employment in NAICS 324110 changed by -6% between 2020 (66,168 jobs) and 2025, calculated from BLS figures. | -6 % change | 2025 | U.S. Bureau of Labor Statistics |
| Average annual pay in US NAICS 324110 was $176,334 in 2025. | 176,334 USD per year | 2025 | U.S. Bureau of Labor Statistics |
What the full report covers
- 1
Executive summary
The answer on two pages: size, growth and what drives it.
- 2
Market size and outlook
History, the current year and a five-year view with base, low and high cases.
- 3
Segments and regions
Splits by product, buyer and geography across the US, Europe and MEA.
- 4
Company profiles
The main players, how they compete and where they are investing.
- 5
Data and method
Every figure in Excel, with the sources and assumptions behind it.
- 01Executive summary
The answer in one page: size, direction and what moves it - 02Market definition and scope
What is in and out of the European Union market - 03Market size, 2021 to 2025
Historical series and growth rates - 04Outlook to 2031
Base, low and high scenarios with stated assumptions - 05Rules, policy and deadlines
Regulation and programmes that change demand - 06Drivers and barriers
What accelerates or slows adoption, by customer segment - 07Prices, costs and margins
Unit economics where public data allows - 08Competitive landscape
8 to 12 company profiles with recent moves - 09Opportunities and risks
For new entrants, suppliers and investors - 10Method and sources
Every assumption and source, listed
Included with the full report
- PDF report, 40 to 60 pages
- Excel data pack
- Ready-to-use charts
- Method note and assumptions
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Frequently asked questions
How big is the EU bunker fuel market?
There is no single official market total. Eurostat trade data shows the EU imported €247.3 million of goods under CN 27101962 from outside the EU in 2025 and exported €2.06 billion.
Where does the EU import bunker fuel from?
Norway was the largest non-EU supplier in 2025. The next largest were United Kingdom, Countries and territories not specified within the framework of extra-Union trade, Countries and territories not specified within the framework of intra-Union trade.
What is the average import price of bunker fuel in the EU?
Dividing Eurostat import value by weight gives about €0.61 per kilogram for CN 27101962 in 2025.
Which EU countries export the most bunker fuel?
Belgium led EU exports to non-EU countries in 2025, followed by Netherlands, Spain.
How many US companies are in the bunker fuel industry?
BLS counts 685 private establishments in NAICS 324110 (Petroleum refineries), the closest official industry.
How many EU companies are in the bunker fuel industry?
Eurostat counts 723 enterprises in NACE class C1920 (Manufacture of refined petroleum products).
Sources and method
The figures on this page come from the public sources listed below. Read how we work.
- Eurostat: EU trade since 1988 by HS2-4-6 and CN8 (DS-045409) (2026-11-04)
DS-045409, reporter EU27_2020, product 27101962, partner EXT_EU27_2020, flow import, 2025, VALUE_IN_EUROS 247348471
- Eurostat: EU trade since 1988 by HS2-4-6 and CN8 (DS-045409) (2026-11-04)
DS-045409, reporter EU27_2020, product 27101962, flow import, 2020 VALUE_IN_EUROS 447070508; 2025 VALUE_IN_EUROS 247348471
- Eurostat: EU trade since 1988 by HS2-4-6 and CN8 (DS-045409) (2026-11-04)
DS-045409, reporter EU27_2020, product 27101962, partner EXT_EU27_2020, flow export, 2025, VALUE_IN_EUROS 2056710039
- Eurostat: EU trade since 1988 by HS2-4-6 and CN8 (DS-045409) (2026-11-04)
DS-045409, reporter EU27_2020, product 27101962, partner INT_EU27_2020, flow import, 2025, VALUE_IN_EUROS 2819745061
- Eurostat: EU trade since 1988 by HS2-4-6 and CN8 (DS-045409) (2026-11-04)
DS-045409, reporter EU27_2020, product 27101962, partner NO, flow import, 2025, VALUE_IN_EUROS 123172997
- Eurostat: EU trade since 1988 by HS2-4-6 and CN8 (DS-045409) (2026-11-04)
DS-045409, reporter EU27_2020, product 27101962, partner US, flow export, 2025, VALUE_IN_EUROS 121847641
- Eurostat: EU trade since 1988 by HS2-4-6 and CN8 (DS-045409) (2026-11-04)
DS-045409, reporter EU27_2020, product 27101962, flow import, 2025, VALUE_IN_EUROS 247348471, QUANTITY_IN_100KG 4052885
- Eurostat: EU trade since 1988 by HS2-4-6 and CN8 (DS-045409) (2026-11-04)
DS-045409, reporter BE, product 27101962, partner EXT_EU27_2020, flow export, 2025, VALUE_IN_EUROS 925931573
- Eurostat: Enterprises by detailed NACE Rev. 2 activity and special aggregates (sbs_ovw_act) (2026-11-04)
sbs_ovw_act, geo EU27_2020, nace_r2 C1920, indic_sbs ENT_NR, 2023, 723
- Eurostat: Enterprises by detailed NACE Rev. 2 activity and special aggregates (sbs_ovw_act) (2026-11-04)
sbs_ovw_act, geo EU27_2020, nace_r2 C1920, indic_sbs NETTUR_MEUR, 2023, 580516
- Eurostat: Enterprises by detailed NACE Rev. 2 activity and special aggregates (sbs_ovw_act) (2026-11-04)
sbs_ovw_act, geo EU27_2020, nace_r2 C1920, indic_sbs EMP_NR, 2023, 160000
- U.S. Bureau of Labor Statistics: QCEW annual averages, NAICS 324110, 2025 (2026-11-04)
QCEW 2025 annual, US000, private, NAICS 324110, annual_avg_estabs 685
- U.S. Bureau of Labor Statistics: QCEW annual averages, NAICS 324110, 2025 (2026-11-04)
QCEW 2025 annual, US000, private, NAICS 324110, annual_avg_emplvl 62480
- U.S. Bureau of Labor Statistics: QCEW annual averages, NAICS 324110, 2025 (2026-11-04)
QCEW 2020 annual_avg_emplvl 66168; 2025 annual_avg_emplvl 62480
- U.S. Bureau of Labor Statistics: QCEW annual averages, NAICS 324110, 2025 (2026-11-04)
QCEW 2025 annual, US000, private, NAICS 324110, avg_annual_pay 176334
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