India Bitumen Market, By Type (Paving Grade Bitumen, Oxidized Grade Bitumen, Polymer Modified Bitumen, Bitumen Emulsions, Others); By End Use Industry (Road Construction, Waterproofing, Others); By Region (North India, South India, East India, West India), Trend Analysis, Competitive Landscape & Forecast, 2019–2030
- Published Date: October 2024
- Report ID: BWC24804
- Available Format: PDF
- Page: 110
Report Overview
The rapid infrastructure development and rising urbanization are expected to boost the growth of India Bitumen Market during the forecast period between 2024 and 2030.
India Bitumen Market - Industry Trends & Forecast Report, 2030
India Bitumen Market size was estimated to be worth USD 4.80 billion in 2023. During the forecast period between 2024 and 2030, India Bitumen Market size is projected to grow at a CAGR of 4.08%, reaching a value of USD 6.10 billion by 2030. Major growth factors for India Bitumen Market include rapid infrastructural development due to urbanization and the development of smart cities and its extensive usage in a wide range of applications, including road surfacing, roofing, and paints. Furthermore, growing demand from the glass and ceramic industry due to its adhesive properties is anticipated to drive the India Bitumen Market growth during the forecast period.
Bitumen – Overview
Bitumen is a semi-solid hydrocarbon and oil-based material created during the refining process by removing lighter fractions (like liquid petroleum gas, gasoline, and diesel) from heavy crude oil. Sometimes called asphalt or tar, bitumen is a specialty fuel grade that can be used for roofing, road surfacing, and some types of paint. When bitumen is handled correctly, it can be stored at high temperatures for extended periods without losing its properties.
India Bitumen Market
Growth Drivers
Increasing Road Construction Activities
The increasing use of bitumen in road construction activities is emerging as the major driving factor for India Bitumen Market growth. Its growing usage in the sector is mainly attributed to its favorable qualities as a binding material. Bitumen also has adhesive and waterproofing properties, is non-toxic and reusable, as well as can be repaired quickly. In addition, roads made from bitumen instead of coal tar also provide better drip to vehicle tires, especially during heat. The increasing number of road construction projects launched by the Indian government for infrastructural development is projected to drive the growth of India Bitumen Market during the forecast period.
Challenges
Health Hazards associated with Bitumen
The health hazards associated with bitumen, particularly the emissions during its heating, may act as a major restricting factor for the India Bitumen Market. Bitumen, when heated, releases emissions made up of fumes, gases, and airborne particles. Workers are exposed to this heated bitumen, and these emissions form out of it in many ways, including respiratory, direct contact, as well as oral. Exposure to these may result in serious health complications in workers, including asthma and respiratory bronchitis. The lack of laws and regulations in India to ensure the safety of workers may limit India Bitumen Market growth.
Impact of Escalating Geopolitical Tensions on India Bitumen Market
Intensifying and further spreading of geopolitical tensions among the countries across the regions, particularly in the Middle East, could adversely affect the growth of India Bitumen Market. Bitumen is made by distillation of crude oil which India needs to import from other countries, such as Russia, Iraq, and Saudi Arabia. However, geopolitical tensions could lead to supply chain disruption and may cause disturbance in the procurement of other key materials due to sanctions or trade restrictions imposed on any of these countries. Another major impact that India Bitumen Market faces is price fluctuations in global oil prices. The surging oil prices due to geopolitical tensions directly cause an increase in bitumen costs, which may hinder the construction projects in the country as well.
India Bitumen Market
Segmental Coverage
India Bitumen Market – By Product
Based on product, India Bitumen Market is segmented into paving grade bitumen, oxidized grade bitumen, polymer modified bitumen, bitumen emulsions, and others. The paving grade bitumen holds the largest share of India Bitumen Market by product. The growth of the segment is mainly attributed to wide usage of paving grade bitumen in road construction and roofing activities. Bitumen 60/70 has the highest demand in the market because of its hardness and can withstand various temperatures, specifically from -22 to +76. This makes it a preferred material for road construction in a country like India with varied temperature regions.
India Bitumen Market – By End Use Industry
Based on end use industry, India Bitumen Market is segmented into road construction, waterproofing, and others. The road construction segment accounts for the highest market share owing to the increasing number of road construction projects across the country. Bitumen is extensively used in road construction activities because of its favorable qualities, such as high adhesiveness and waterproofing. The material has already replaced coal tar in the road-making process as a binder for aggregates in the production of asphalt and provides better drip with vehicle tires, which contributes to its market growth.
India Bitumen Market – By Region
The in-depth research report on India Bitumen Market covers the following major regions: North India, South India, East India, and West India. East India dominates India Bitumen Market. The government of India has been significantly focusing on the construction of roads in the Northeastern region to improve the connectivity of these states with the rest of the country. As a result, the demand for bitumen is increasing in East India, and therefore, various public-private players are collaborating to fulfill this demand in the region. For instance, the Border Roads Organization (BRO) and Indian Oil Corporation (IOCL) are collaborating to meet the oil and bitumen requirements for road projects in Northeast India.
Competitive Landscape
India Bitumen Market is intensely competitive, as a number of companies are competing to gain a significant market share. Key players in the market include Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL), Hindustan Petroleum Corporation Limited (HPCL), Nayara Energy Limited, Reliance Industries Limited, Shell India, BP India, Petronas India, and Cairn India. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
Scope of the Report
|
Attributes |
Details |
|
Years Considered |
Historical Data – 2019–2023 |
|
Base Year – 2023 |
|
|
Estimated Year – 2024 |
|
|
Forecast Period– 2024–2030 |
|
|
Facts Covered |
Revenue in USD Billion |
|
Market Coverage |
North India, South India, East India, West India |
|
Product/ Service Segmentation |
Type, End Use Industry, Region |
|
Key Players |
Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL), Hindustan Petroleum Corporation Limited (HPCL), Nayara Energy Limited, Reliance Industries Limited, Shell India, BP India, Petronas India, Cairn India |
By Type
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Paving Grade Bitumen
-
Oxidized Grade Bitumen
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Polymer Modified Bitumen
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Bitumen Emulsions
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Others
By End Use Industry
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Road Construction
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Waterproofing
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Others
By Region
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North India
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South India
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East India
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West India
- Research Framework
- Research Objective
- Product Overview
- Market Segmentation
- Executive Summary
- India Bitumen Market Insights
- Industry Value Chain Analysis
- DROC Analysis
- Growth Drivers
- Infrastructure Development
- Rising Urbanization
- Increasing Government Investments
- Restraints
- Fluctuating Crude Oil Prices
- Competition from Alternative Materials
- Opportunities
- Rising Fuel Prices
- Increasing Awareness of Road Safety
- Challenges
- Environmental Concerns
- Supply Chain Disruptions
- Growth Drivers
- Technological Advancements/Recent Developments
- Regulatory Framework
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of New Entrants
- Threat of Substitutes
- Intensity of Rivalry
- India Bitumen Market: Marketing Strategies
- India Bitumen Market: Pricing Analysis
- India Bitumen Market Overview
- Market Size & Forecast, 2019–2030
- By Value (USD Billion)
- Market Share & Forecast
- By Type
- Paving Grade Bitumen
- Oxidized Grade Bitumen
- Polymer Modified Bitumen
- Bitumen Emulsions
- Others
- By End Use Industries
- Road Construction
- Waterproofing
- Others
- By Region
- North India
- South India
- East India
- West India
- By Type
- Market Size & Forecast, 2019–2030
- North India Bitumen Market
- Market Size & Forecast, 2019–2030
- By Value (USD Billion)
- Market Share & Forecast
- By Product
- By End Use Industries
- Market Size & Forecast, 2019–2030
- South India Bitumen Market
- Market Size & Forecast, 2019–2030
- By Value (USD Billion)
- Market Share & Forecast
- By Product
- By End Use Industries
- Market Size & Forecast, 2019–2030
- East India Bitumen Market
- Market Size & Forecast, 2019–2030
- By Value (USD Billion)
- Market Share & Forecast
- By Product
- By End Use Industries
- Market Size & Forecast, 2019–2030
- West India Bitumen Market
- Market Size & Forecast, 2019–2030
- By Value (USD Billion)
- Market Share & Forecast
- By Product
- By End Use Industries
- Market Size & Forecast, 2019–2030
- Competitive Landscape
- List of Key Players and Their Offerings
- India Bitumen Market Company Market Share Analysis, 2023
- Competitive Benchmarking, By Operating Parameters
- Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
- Impact of Escalating Geopolitical Tensions on India Bitumen Market
- Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
- Indian Oil Corporation Limited (IOCL)
- Bharat Petroleum Corporation Limited (BPCL)
- Hindustan Petroleum Corporation Limited (HPCL)
- Nayara Energy Limited
- Reliance Industries Limited
- Shell India
- BP India
- Petronas India
- Cairn India
- Other Prominent Players
- Key Strategic Recommendations
- Research Methodology
- Qualitative Research
- Primary & Secondary Research
- Quantitative Research
- Market Breakdown & Data Triangulation
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Country
- Assumptions & Limitations
- Qualitative Research
*Financial information of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable
List of Figures
Figure 1 India Bitumen Market Segmentation
Figure 2 India Bitumen Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2023
Figure 4 India Bitumen Market Size, By Value (USD Billion), 2019–2030
Figure 5 India Bitumen Market Share, By Product, By Value, 2019–2030
Figure 6 India Bitumen Market Share, By End Use Industries, By Value, 2019–2030
Figure 7 India Bitumen Market Share, By Region, By Value, 2019–2030
Figure 8 North India Bitumen Market Size, By Value (USD Billion), 2019–2030
Figure 9 North India Bitumen Market Share, By Product, By Value, 2019–2030
Figure 10 North India Bitumen Market Share, By End Use Industries, By Value, 2019–2030
Figure 11 South India Bitumen Market Size, By Value (USD Billion), 2019–2030
Figure 12 South India Bitumen Market Share, By Product, By Value, 2019–2030
Figure 13 South India Bitumen Market Share, By End Use Industries, By Value, 2019–2030
Figure 14 East India Bitumen Market Size, By Value (USD Billion), 2019–2030
Figure 15 East India Bitumen Market Share, By Product, By Value, 2019–2030
Figure 16 East India Bitumen Market Share, By End Use Industries, By Value, 2019–2030
Figure 17 West India Bitumen Market Size, By Value (USD Billion), 2019–2030
Figure 18 West India Bitumen Market Share, By Product, By Value, 2019–2030
Figure 19 West India Bitumen Market Share, By End Use Industries, By Value, 2019–2030
List of Tables
Table 1 India Bitumen Market Size, By Value (USD Billion), 2019–2030
Table 2 India Bitumen Market Size, By Product, By Value, 2019–2030
Table 3 India Bitumen Market Size, By End Use Industries, By Value, 2019–2030
Table 4 India Bitumen Market Size, By Region, By Value, 2019–2030
Table 5 North India Bitumen Market Size, By Value (USD Billion), 2019–2030
Table 6 North India Bitumen Market Size, By Product, By Value, 2019–2030
Table 7 North India Bitumen Market Size, By End Use Industries, By Value, 2019–2030
Table 8 South India Bitumen Market Size, By Value (USD Billion), 2019–2030
Table 9 South India Bitumen Market Size, By Product, By Value, 2019–2030
Table 10 South India Bitumen Market Size, By End Use Industries, By Value, 2019–2030
Table 11 East India Bitumen Market Size, By Value (USD Billion), 2019–2030
Table 12 East India Bitumen Market Size, By Product, By Value, 2019–2030
Table 13 East India Bitumen Market Size, By End Use Industries, By Value, 2019–2030
Table 14 West India Bitumen Market Size, By Value (USD Billion), 2019–2030
Table 15 West India Bitumen Market Size, By Product, By Value, 2019–2030
Table 16 West India Bitumen Market Size, By End Use Industries, By Value, 2019–2030
Table 17 Indian Oil Corporation Limited (IOCL) Company Overview
Table 18 Indian Oil Corporation Limited (IOCL) Financial Overview
Table 19 Bharat Petroleum Corporation Limited (BPCL) Company Overview
Table 20 Bharat Petroleum Corporation Limited (BPCL) Financial Overview
Table 21 Hindustan Petroleum Corporation Limited (HPCL) Company Overview
Table 22 Hindustan Petroleum Corporation Limited (HPCL) Financial Overview
Table 23 Nayara Energy Limited Company Overview
Table 24 Nayara Energy Limited Financial Overview
Table 25 Reliance Industries Limited Company Overview
Table 26 Reliance Industries Limited Financial Overview
Table 27 Shell India Company Overview
Table 28 Shell India Financial Overview
Table 29 BP India Company Overview
Table 30 BP India Financial Overview
Table 31 Petronas India Company Overview
Table 32 Petronas India Financial Overview
Table 33 Cairn India Company Overview
Table 34 Cairn India Financial Overview
Market Segmentation
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