India Bitumen Market - Future, Scope, Trends
India Bitumen Market has valued at USD1.36 billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 2.5% through 2028. Bitumen is a viscous material ranging from black to dark brown, primarily composed of high molecular weight hydrocarbons. It is a semi-solid product derived from crude oil distillation, obtained by separating the lighter fractions (such as liquid petroleum gas, petrol, and diesel) from heavy crude oil during the refining process. The physical characteristics of bitumen include adhesion, water resistance, hardness, ductility, and higher softening point. The growth of the Indian bitumen market is predominantly driven by the surge in road and building construction activities. The construction of national highways, expressways, and airport runways significantly boosts the demand for bitumen across the country. Bitumen is processed into asphalt for road construction purposes. Moreover, the government's increased investme...