The bitumen is an oil-based substance and semi-solid hydrocarbon product introduced by eradicating the lighter fractions (such as liquid petroleum gas, petrol, and diesel) from heavy crude oil throughout the refining process. Composition of bitumen involves carbon (87-92%), hydrogen (6-8%), sulphur (~5%), nitrogen (1%), and oxygen (1%). It possesses physical possessions such as adhesion, water resistance, hardness, and viscosity.
According to the report analysis, ‘India Bitumen Market by Type (Paving Grade Bitumen, Oxidized Bitumen, Polymer Modified Bitumen, Bitumen Emulsion, and Others) and End-Use Industry (Road Construction, Water Proofing, and Others): Opportunity Analysis and Industry Forecast, 2019-2026’ states that in India Bitumen market there are several corporates which recently operating more effectively for leading the fastest market growth and dominating the handsome value of market share around the globe during the short span of time while spreading the awareness related to the bitumen, delivering the better consumer satisfaction, decreasing the compared prices, increasing the applications of the bitumen, advancing the applications of the production technologies, accepting the policies of profit making and employing the young workforce includes Indian Oil Corporation Ltd., Hindustan Petroleum Corporation Limited, Bharat Petroleum Corporation Ltd., Oil & Natural Gas Corporation Ltd., Total India, Tiki Tar Industries India Ltd., Agarwal Industries Corporation Ltd., Juno BitumixPvt Ltd., Universal Bituminous Industries Pvt. Ltd., and Swastik Tar Industries.
Whereas, the effective growth in the road construction activities propels the requirement for bitumen. Bitumen is administered into asphalt for road construction. Asphalt is an amalgamation of the rock aggregates and bitumen. Bitumen attends as a binding agent and advances the stability of asphalt. Depending on the variety of bitumen or composition of the mixture utilized, asphalt roads can be made appropriate for regions with dissimilar climatic conditions or several levels of operational requirement. Asphalt is also utilized for airport runways, parking decks, and working locations in ports.
In addition, India’s present passed budget involves the expenditure on development of National Highways, involving projects connecting to expressways, two-laning of highways, under the National Highways Development Project, six-laning of crowded bounces of the Golden Quadrilateral, a distinctive program for the advancement of road connectivity in Naxal affected areas, improvement of Vijayawada-Ranchi road, and for delivering last mile connectivity, which is projected to drive the growth of India bitumen market. Furthermore, the bitumen adhesive is widely utilized in the construction industry for roofs. It is a cold functional adhesive for bonding bituminous roofing felts to asphalt, felt, metal, and concrete. Bitumen adhesive has physical features that involves the toughness, flexibility, and forms adhesive and cohesive film and delivers good UV resistance. Due to growth in construction industry owing to the speedy urbanization and establish of government initiatives such as Housing for All that involves construction of houses for urban poor is predicted to propel the growth of the bitumen market around the country. Therefore, in the coming years, it is anticipated that the market of bitumen will increase around the globe more progressively over the forthcoming duration.
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