Report Ocean has recently published the “India Bitumen Market“ Research Report 2023-2031, offering a comprehensive analysis of the market. This report delves deep into the market dynamics, including key trends, upcoming technologies, drivers, challenges, and regulatory policies. It also features company profiles and strategies of prominent players in the industry. With over 100+ market data tables, pie charts, graphs, and figures, this global market study provides a thorough understanding of the market landscape. It presents a complete assessment, encompassing future trends, current growth factors, informed opinions, factual insights, and industry-validated market data, enabling accurate forecasts until 2031.
Bitumen is an oil-based substance and semi-solid hydrocarbon product produced by removing the lighter fractions (such as liquid petroleum gas, petrol, and diesel) from heavy crude oil during the refining process. Composition of bitumen includes carbon (87-92%), hydrogen (6-8%), sulphur (~5%), nitrogen (1%), and oxygen (1%). It possesses physical properties such as adhesion, water resistance, hardness, and viscosity. Increase in road construction activities fuels the demand for bitumen. Bitumen is processed into asphalt for road construction. Asphalt is a mixture of rock aggregates and bitumen. Bitumen serves as a binding agent and improves the stability of asphalt.
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Depending on the type of bitumen or composition of the mixture used, asphalt roads can be made suitable for regions with different climatic conditions or various levels of operational demands. Asphalt is also used for airport runways, parking decks, and working areas in ports. In addition, India’s recent passed budget includes expenditure on development of National Highways, including projects relating to expressways, two-laning of highways, under the National Highways Development Project, six-laning of crowded stretches of the Golden Quadrilateral, a special program for the development of road connectivity in Naxal affected areas, development of Vijayawada-Ranchi road, and for providing last mile connectivity, which is anticipated to drive the growth of India bitumen market.
Furthermore, bitumen adhesive is widely used in the construction industry for roofs. It is a cold applied adhesive for bonding bituminous roofing felts to asphalt, felt, metal, and concrete. Bitumen adhesive has physical properties that includes toughness, flexibility, and forms adhesive and cohesive film and provides good UV resistance. Owing to growth in construction industry due to rapid urbanization and launch of government initiatives such as “Housing for All” that includes construction of houses for urban poor is expected to drive the growth of the bitumen market across the country.
However, human health & environmental issues associated with bitumen, fluctuating international crude oil prices, and increase in use of an alternative for bitumen such as concrete in roadway construction application restrain the growth of the market across the India. Moreover, development of bio-based bitumen and EME (Enrobes a Module Eleve) binder is anticipated to provide lucrative opportunities for further development of the market.
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The India bitumen market covered in the study includes paving grade bitumen, oxidized bitumen, polymer modified bitumen, and bitumen emulsions. By end-use industry, the market is classified into road construction (airports & runways and highways & express ways), waterproofing, and others. Region-wise, it is analyzed across North India (Uttar Pradesh, Rajasthan, Punjab, Haryana, rest of North India (Himachal Pradesh, Uttarakhand, Chandigarh, and Delhi)), East India (Bihar, Jharkhand, West Bengal, Odisha, and Andaman & Nicobar), Northeast India (Arunachal Pradesh, Assam, Tripura, Meghalaya, and rest of Northeast (Sikkim, Nagaland, and Mizoram)), and South India (Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Kerala, and rest of South India (Lakshadweep and Puducherry)), and West India (Maharashtra, Gujarat, Madhya Pradesh, Chhattisgarh, rest of West India (Goa, Dadra & Nagar Haveli, and Daman & Diu).
The major key players operating in the India bitumen market include Indian Oil Corporation Ltd., Hindustan Petroleum Corporation Limited, Bharat Petroleum Corporation Ltd., Oil & Natural Gas Corporation Ltd., Total India, Tiki Tar Industries India Ltd., Agarwal Industries Corporation Ltd., Juno Bitumix Pvt. Ltd., Universal Bituminous Industries Pvt. Ltd., and Swastik Tar Industries.
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KEY BENEFITS FOR STAKEHOLDERS
– Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the industry for strategy building.
– It outlines the current trends and future estimations of the market from 2019 to 2026 to understand the prevailing opportunities and potential investment pockets.
– The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
– The key drivers, restraints, and opportunities and their detailed impact analysis are elucidated in the study.
– The profiles of key players along with their key strategic developments are enlisted in the report.
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KEY MARKET SEGMENTS
– By Type
– Paving Grade Bitumen
– Oxidized Bitumen
– Polymer Modified Bitumen
– Bitumen Emulsion
– Others
– By End-Use Industry
– Road Construction
o National Highways
o State Highways
o Rural Road
o Airport Runways
– Waterproofing
– Others
– By Region
– North India
o Uttar Pradesh
o Rajasthan
o Punjab
o Haryana
o Rest of North India
– East India
o Bihar
o Jharkhand
o West Bengal
o Odisha
o Andaman & Nicobar
– Northeast India
o Arunachal Pradesh
o Assam
o Tripura
o Meghalaya
o Rest of East India
– South India
o Tamil Nadu
o Karnataka
o Andhra Pradesh
o Telangana
o Kerala
o Rest of South India
– West India
o Maharashtra
o Gujarat
o Madhya Pradesh
o Chhattisgarh
o Rest of West India
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Table of Contents:
- Introduction and Scope
- Definition and Forecast Parameters
- Methodology and Forecast Parameters
- Information Sources
- Latest Trends Summary
- Regional Trends
- Product Trends
- End-Use Trends
- Business Trends
- Industry Insights
- Industry Fragmentation
- Industry Landscape
- Vendor Matrix
- Technological and Innovative Landscape
- Market by Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
- Company Profiles
- Company Overview
- Financial Elements
- Product Landscape
- SWOT Analysis
- Systematic Outlook
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