India: Bituminous Mixtures Market 2024

Bituminous Mixtures Market Size in India

After six years of growth, the Indian bituminous mixtures market decreased by -4.4% to $X in 2021. Over the period under review, the total consumption indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +27.5% against 2013 indices. Over the period under review, the market hit record highs at $X in 2020, and then fell modestly in the following year.

Bituminous Mixtures Production in India

In value terms, bituminous mixtures production fell to $X in 2021 estimated in export price. Over the period under review, the total production indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +17.1% against 2013 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 27% against the previous year. Bituminous mixtures production peaked at $X in 2020, and then declined in the following year.

Bituminous Mixtures Exports

Exports from India

In 2021, shipments abroad of bituminous mixtures was finally on the rise to reach X tons after two years of decline. In general, exports posted a strong increase. The most prominent rate of growth was recorded in 2017 when exports increased by 169%. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, bituminous mixtures exports surged to $X in 2021. Over the period under review, exports posted a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of 164%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for bituminous mixtures exports from India, with a 67% share of total exports. Moreover, bituminous mixtures exports to the United States exceeded the volume sent to the second major destination, Nepal (X tons), ninefold. Nigeria (X tons) ranked third in terms of total exports with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +61.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nepal (+45.3% per year) and Nigeria (+29.8% per year).

In value terms, the United States ($X) remains the key foreign market for bituminous mixtures exports from India, comprising 64% of total exports. The second position in the ranking was held by Nigeria ($X), with a 5.8% share of total exports. It was followed by Nepal, with a 5.6% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +57.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (+21.0% per year) and Nepal (+34.7% per year).

Export Prices by Country

The average bituminous mixtures export price stood at $X per ton in 2021, falling by -21.1% against the previous year. Over the period under review, the export price continues to indicate a perceptible decline. The most prominent rate of growth was recorded in 2013 when the average export price increased by 49% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Bangladesh ($X per ton), while the average price for exports to Nepal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Tanzania (-1.1%), while the prices for the other major destinations experienced a decline.

Bituminous Mixtures Imports

Imports into India

In 2021, the amount of bituminous mixtures imported into India skyrocketed to X tons, surging by 27% on the year before. In general, imports, however, showed a deep slump. The most prominent rate of growth was recorded in 2016 when imports increased by 54%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, bituminous mixtures imports soared to $X in 2021. Over the period under review, imports, however, showed a abrupt contraction. The pace of growth appeared the most rapid in 2016 with an increase of 70% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), the United States (X tons) and the United Arab Emirates (X tons) were the main suppliers of bituminous mixtures imports to India, together accounting for 78% of total imports. These countries were followed by Bhutan, Russia, Canada, Italy and Thailand, which together accounted for a further 20%.

From 2012 to 2021, the biggest increases were recorded for Russia (with a CAGR of +187.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and the United Arab Emirates ($X) appeared to be the largest bituminous mixtures suppliers to India, together accounting for 78% of total imports. These countries were followed by Bhutan, Italy, Russia, Canada and Thailand, which together accounted for a further 16%.

In terms of the main suppliers, Russia, with a CAGR of +142.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average bituminous mixtures import price amounted to $X per ton, with an increase of 2.6% against the previous year. Overall, import price indicated a moderate increase from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, bituminous mixtures import price increased by +15.6% against 2018 indices. The pace of growth was the most pronounced in 2015 an increase of 87% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Italy ($X per ton), while the price for Bhutan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+10.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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