India: Non-Rolled Bitumen Products Market 2024

Non-Rolled Bitumen Products Market Size in India

In 2022, the Indian non-rolled bitumen products market increased by 50% to $X, rising for the second consecutive year after two years of decline. In general, consumption showed a remarkable increase. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Non-Rolled Bitumen Products Exports

Exports from India

Non-rolled bitumen products exports from India fell to X tons in 2022, waning by -8.7% against 2021 figures. Overall, exports, however, posted strong growth. The most prominent rate of growth was recorded in 2013 when exports increased by 276% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, non-rolled bitumen products exports soared to $X in 2022. Over the period under review, exports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 339%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Bangladesh (X tons), Nepal (X tons) and Bhutan (X tons) were the main destinations of non-rolled bitumen products exports from India, together comprising 73% of total exports. Mauritius, Maldives, Ghana, the United Arab Emirates, Thailand, Zimbabwe and Democratic Republic of the Congo lagged somewhat behind, together comprising a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Zimbabwe (with a CAGR of +130.2%), while the other leaders experienced more modest paces of growth.

In value terms, Bangladesh ($X) emerged as the key foreign market for non-rolled bitumen products exports from India, comprising 38% of total exports. The second position in the ranking was taken by Nepal ($X), with a 19% share of total exports. It was followed by Bhutan, with an 18% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Bangladesh amounted to +35.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nepal (+107.5% per year) and Bhutan (+53.9% per year).

Export Prices by Country

The average non-rolled bitumen products export price stood at $X per ton in 2022, picking up by 55% against the previous year. Overall, the export price saw a relatively flat trend pattern. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Democratic Republic of the Congo ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Democratic Republic of the Congo (+13.5%), while the prices for the other major destinations experienced a decline.

Non-Rolled Bitumen Products Imports

Imports into India

In 2022, overseas purchases of non-rolled bitumen products increased by 40% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports saw a strong increase. The most prominent rate of growth was recorded in 2015 when imports increased by 119% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, non-rolled bitumen products imports skyrocketed to $X in 2022. In general, imports saw a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 82% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

Imports by Country

Lithuania (X tons), Canada (X tons) and the United States (X tons) were the main suppliers of non-rolled bitumen products imports to India, with a combined 66% share of total imports. Russia, China, Italy, Turkey, Malaysia and the United Arab Emirates lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Russia (with a CAGR of +196.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest non-rolled bitumen products suppliers to India were Lithuania ($X), Canada ($X) and the United States ($X), together accounting for 64% of total imports.

Lithuania, with a CAGR of +199.2%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average non-rolled bitumen products import price stood at $X per ton in 2022, growing by 13% against the previous year. Overall, the import price, however, recorded a deep downturn. The pace of growth was the most pronounced in 2014 when the average import price increased by 24% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+4.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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