India’s Bitumen Market Value to Hit $3.6 Billion by 2026 | Global Top Companies and Regional Average Price Analysis

The North India market is estimated to register the fastest CAGR of 3.4% during the forecast period.

PORTLAND, OREGON, , USA, July 20, 2022 / — According to a new report released by Allied Market Research, titled “India Bitumen Market: Opportunity Analysis and Industry Forecast, 2019-2026”, the market Indian bitumen was valued at $2.8 billion in 2018 and is expected to reach $3.6 billion by 2026, growing at a CAGR of 2.8% from 2019 to 2026

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Rising road development activities, rising demand for adhesives and booming construction industry have complemented the growth of the Indian bitumen market. Whereas increasing usage of bitumen alternatives in road application, bitumen-related health issues and fluctuating crude oil prices are hampering the market growth. On the other hand, the development of bio-based bitumen and the development of EME (High Modulus Asphalt) binder should offer lucrative opportunities in the near future.

The Indian bitumen market is segmented into type, end-use industry and region. Based on type, the market is divided into road grade bitumen, oxidized bitumen, polymer modified bitumen, and bitumen emulsions. The road-grade bitumen segment held the largest share in 2018, contributing nearly two-thirds of India’s bitumen market. However, the polymer modified grades segment is expected to show the fastest CAGR of 4.0% during the forecast period.

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Based on end-use, the market is divided into underground road construction, waterproofing and others. The road construction segment is expected to register the fastest CAGR of 3.0% till 2026. Furthermore, the segment accounted for the highest share in 2018, contributing around three-fifths of the Indian bitumen market.

India bitumen market is analyzed in North India, East India, North East India, South India and West India. The North India region market held the largest share in 2018, contributing almost a third of the revenue. However,

Major market players analyzed in the research include Hindustan Petroleum Corporation Limited, Bharat Petroleum Corporation Ltd., Oil & Natural Gas Corporation Ltd, Agarwal Industries Corporation Ltd, Indian Oil Corporation Ltd, Total India, Juno Bitumix Pvt Ltd, Tiki Tar Industries India Ltd, Swastik Tar Industries and Universal Bituminous Industries Pvt. ltd.

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Key findings from the Indian bitumen market:

The East India bitumen market is expected to hold a share of over 23.8% by 2026.
The road construction segment is expected to garner the highest share of over 76.0% by 2026.
The North India bitumen market is expected to grow at the fastest CAGR of 3.4% during the forecast period.
Paving grade bitumen is expected to dominate the market, gaining Indian market share of 64.7% during the forecast period.

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Allied Market Research (AMR) is a market research and business consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services and market insights across 11 verticals. Adopting in-depth research methodologies, AMR helps its clients make strategic business decisions and achieve sustainable growth in their market areas. We are staffed with qualified analysts and experts and have extensive experience working with many Fortune 500 companies and small and medium enterprises.

David Correa
Allied Analytics LLP
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