India Bitumen Market; by Type (Bitumen Emulsion, Paving Grade Bitumen, Polymer Modified Bitumen, Oxidized Bitumen, and Others); By End-User (Water Proofing, Road Construction, and Others); and Region –Analysis of Market Size, Share & Trends for 2016 – 2019 and Forecasts to 2030
Bitumen is a black viscous partially solid crude oil distillation hydrocarbon product, primarily consisting of molecular hydrocarbons of high weight. It is produced by the removal during fractional distillation of lighter components like liquid oil gas, gas, and diesel from heavy crude oil. Bitumen has numerous physical characteristics including adhesion, water resistance, hardness, ductility, etc.
Fatpos Global anticipates the India Bitumen market to surpass USD XX Billion by 2030, which is valued at XX billion in 2019 at a compound annual growth rate of XX%.
India Bitumen Market: Segments
Indian market has been segmented on the basis of product, end user, and by location. It has been further segmented by countries into eastern, western, northern and southern region.
By product type (in %), India Bitumen Market, 2019
Bitumen emulsion is poised to grow at the highest CAGR during the forecasted period.
Due to rapid growing road construction activities across the country, the grade bitumen division held the largest market share of 2019.
India Bitumen Market is segmented by type into: Bitumen Emulsion, Paving Grade Bitumen, Polymer Modified Bitumen, Oxidized Bitumen, and Others.
Government projects such as Bharatmala, numerous national road projects and various economic tunnel developments in various states fuel the nation’s demand for bitumen emulsion. Increases in the demand for bitumen in India are likely to push Indian bitumen emulsion segment, as well as efforts undertaken by the India Government to construct roads in rural areas like Pradhan Mantri Gram Sadak Yojana (PMGSY), to improve, maintain and reconstruct the existing rural roads, national highways and expressways.
India Bitumen Market: Drivers and Restraints
• Housing for all scheme by GOI
The roofing industry uses bitumen adhesive extensively. This is a coldly applied adhesive that attaches bitumen to asphalt, felt, metal and concrete roofing. The physical properties of the bitumen adhesive are durability, strength, adhesive and stable film and strong UV protection.
• Availability of substitutes
The bitumen market will be adversely impacted at any point, from its production to final delivery, due to its effects on the environment. The techniques used in these procedures are quite environmentally harmful.
India Bitumen Market: Regions
North Indian segment accounted for the largest market share
This growth is anticipated due to the large programs launched by the Government of India (GoI) in the North Indian States, which include the national road projects in Uttar Pradesh and Punjab, North India accounted for India’s largest market share of bitumen in 2019. Further, the maintenance and repair of rural roads developed in Haryana, Rajasthan, Uttarakhand, and Himachal Pradesh under Pradhan Mantri Gram Sadak Yojana (PMGSY), is anticipated to fuel market growth for bitumen across the country and thus drive the growth of Northern India’s bitumen market.
India Bitumen Market: Competitive landscape
With many players around the globe, the Indian Bitumen market is strongly competitive. Such companies have taken a range of approaches aimed at growing their worldwide reach and market share. Some of the key approaches taken by the major players include the creation of new goods, fusions, procurements, and strategic alliances and collaborations.
India Bitumen Market: Key Players
• Indian Oil Corporation Ltd
o Company Overview
o Business Strategy
o Key Product Offerings
o Financial Performance
o Key Performance Indicators
o Risk Analysis
o Recent Development
o Regional Presence
o SWOT Analysis
• Bharat Petroleum Corporation Ltd
• Tiki Tar Industries India Ltd
• Bituminous Industries Pvt. Ltd.
• Hindustan Petroleum Corporation Limited
• Total India.
• Dutron Group
• Swastik Tar Industries.
• Juno Bitumix Pvt. Ltd
• Agarwal Industries Corporation Ltd
• Other prominent players
India Bitumen market report also contains analysis on:
• India Bitumen Market Segments:
o By Product type:
Paving Grade Bitumen
Polymer Modified Bitumen
o By end user:
• India Bitumen Market Dynamics
• India Bitumen Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints