India: Petroleum Bitumen Market 2024

Petroleum Bitumen Market Size in India

In 2022, the Indian petroleum bitumen market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, the total consumption indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2018 indices. Petroleum bitumen consumption peaked at $X in 2021, and then fell slightly in the following year.

Petroleum Bitumen Production in India

In value terms, petroleum bitumen production reduced slightly to $X in 2022 estimated in export price. Over the period under review, production saw a slight curtailment. The pace of growth appeared the most rapid in 2018 with an increase of X%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Petroleum Bitumen Exports

Exports from India

In 2022, shipments abroad of petroleum bitumen decreased by X% to X tons, falling for the third consecutive year after three years of growth. Overall, exports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, petroleum bitumen exports expanded modestly to $X in 2022. Over the period under review, exports, however, showed a remarkable increase. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Nepal (X tons) was the main destination for petroleum bitumen exports from India, with a X% share of total exports. Moreover, petroleum bitumen exports to Nepal exceeded the volume sent to the second major destination, Bhutan (X tons), fivefold.

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

In value terms, Nepal ($X) remains the key foreign market for petroleum bitumen exports from India, comprising X% of total exports. The second position in the ranking was held by Bhutan ($X), with a X% share of total exports.

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

Export Prices by Country

The average petroleum bitumen export price stood at $X per ton in 2022, growing by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average export price increased by X%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, 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 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (X%), while the prices for the other major destinations experienced mixed trend patterns.

Petroleum Bitumen Imports

Imports into India

In 2022, purchases abroad of petroleum bitumen decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, saw a significant increase. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2021, and then shrank slightly in the following year.

In value terms, petroleum bitumen imports soared to $X in 2022. In general, imports, however, showed a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of X%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest petroleum bitumen supplier to India, with a X% share of total imports. Moreover, petroleum bitumen imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Oman (X tons), fourfold. Iraq (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual growth rate of volume from the United Arab Emirates totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Oman (X.2% per year) and Iraq (X% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of petroleum bitumen to India, comprising X% of total imports. The second position in the ranking was held by Oman ($X), with an X% share of total imports. It was followed by Iraq, with an X% share.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Oman (X.4% per year) and Iraq (X% per year).

Import Prices by Country

The average petroleum bitumen import price stood at $X per ton in 2022, jumping by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Oman ($X per ton) and Malaysia ($X per ton), while the price for the United Arab Emirates ($X per ton) and Iran ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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