๐๐ง๐๐ข๐๐ง ๐๐ข๐ญ๐ฎ๐ฆ๐๐ง ๐๐๐ซ๐ค๐๐ญ ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ:
The India Bitumen market to surpass USD 77.1 Billion by 2031, which is valued at 49.7 billion in 2021 at a compound annual growth rate of 4.5%.
๐๐ง๐๐ซ๐๐ฌ๐ญ๐ซ๐ฎ๐๐ญ๐ฎ๐ซ๐ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ ๐๐ซ๐ข๐ฏ๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐จ๐ฐ๐ญ๐ก: The Indian Bitumen market is experiencing robust growth due to the surge in infrastructure development activities across the country. With ambitious projects such as highway construction, expressways, and rural road development underway, there is a growing demand for bitumen, a crucial component in road construction and pavement maintenance. The government's focus on improving connectivity and transportation networks further fuels the demand for bitumen in India.
๐๐ซ๐จ๐ฐ๐ข๐ง๐ ๐๐๐๐ ๐๐จ๐ซ ๐๐จ๐๐ ๐๐ฎ๐ข๐ฅ๐๐ข๐ง๐ ๐๐ง๐ ๐๐ฉ๐ค๐๐๐ฉ: Building and maintaining roads, highways, and urban infrastructure depend heavily on petroleum. New roads, bridges, and transportation infrastructure are always needed in India to support economic growth and make it easier for people and commodities to travel about the country as a result of the country's rapid urbanization and population increase. The Indian market's demand for premium bitumen products is fueled by the growing emphasis on high-quality road infrastructure.
๐๐จ๐ฉ ๐๐จ๐ฆ๐ฉ๐๐ง๐ข๐๐ฌ:
- Indian Oil Corporation Ltd
- 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
- Universal
๐๐จ๐ฏ๐๐ซ๐ง๐ฆ๐๐ง๐ญ ๐๐ง๐ฏ๐๐ฌ๐ญ๐ฆ๐๐ง๐ญ๐ฌ ๐๐ง๐ ๐๐ง๐ข๐ญ๐ข๐๐ญ๐ข๐ฏ๐๐ฌ: The Indian government's investments and initiatives, like the Smart Cities Mission, PMGSY, and Bharatmala Pariyojana, are major growth drivers in the bitumen market. These programs seek to raise citizen quality of life, upgrade urban infrastructure, and boost connectivity. A favorable climate for market expansion and investment in the bitumen industry is created by the distribution of cash for infrastructure projects and the enactment of supportive legislation.
๐๐๐๐ก๐ง๐จ๐ฅ๐จ๐ ๐ข๐๐๐ฅ ๐๐ซ๐จ๐ ๐ซ๐๐ฌ๐ฌ ๐๐ง๐ ๐๐ง๐ง๐จ๐ฏ๐๐ญ๐ข๐ฏ๐ ๐๐ซ๐จ๐๐ฎ๐๐ญ๐ฌ: The production, refining, and application of bitumen have advanced technologically, which has led to the growth and competitiveness of the Indian bitumen market. To deliver cutting-edge products with better performance, durability, and environmental sustainability, such as warm mix asphalt (WMA), polymer-modified bitumen (PMB), and bitumen emulsions, manufacturers are spending in R&D. These cutting-edge bitumen solutions address issues including traffic congestion, environmental concerns, and climate resiliency while meeting the changing demands of the building sector.
๐๐ง๐๐ซ๐๐ฌ๐ญ๐ซ๐ฎ๐๐ญ๐ฎ๐ซ๐ ๐๐ข๐๐๐ข๐๐ฎ๐ฅ๐ญ๐ข๐๐ฌ ๐๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐๐จ๐ญ๐๐ง๐ญ๐ข๐๐ฅ: The Indian bitumen market has a lot of room to grow, but there are obstacles in the form of efficient supply chains, logistics, and environmental laws. Efficient logistics and storage facilities are necessary for bitumen transfer from refineries to construction sites. To reduce its negative effects on the environment and solve issues with air and water pollution, the industry is also putting more and more emphasis on eco-friendly technologies and sustainable business practices.
