Bitumen is a black to dark brown sticky substance made up primarily of high molecular weight hydrocarbons. It is a semi-solid hydrocarbon byproduct of crude oil distillation, created by separating the lighter fractions (such as liquid petroleum gas, petrol, and diesel) from heavy crude oil during the refining process. Bitumen's physical qualities include adhesion, water resistance, hardness, ductility, and a greater softening point.
The growth of bitumen market is majorly driven by increase in road and building construction activities. Construction of various national highways, expressways, and airport runways boosts the demand for bitumen across the country. Bitumen is processed into asphalt for road construction. In addition, rise in investments by the government for the development of national highways and expressways, which include projects relating two-laning of highways, the National Highways Development Project, six-laning of crowded stretches of the Golden Quadrilateral, a special program for the development of road connectivity in naxal affected areas, development of Vijayawada-Ranchi road, and for providing last mile connectivity, is anticipated to drive the growth of the market. Furthermore, because of its physical features like as adhesion, resistance to water, hardness, ductility, and higher softening point, bitumen is commonly utilised in the building sector for roofs. As a result of increased demand for bitumen across the country, growth in the construction sector as a result of increased population in cities and need for new dwellings led to a rise in demand for bitumen across the country. Furthermore, government efforts such as the Pradhan Mantri Awas Yojana (PMAY), which includes the construction of dwellings for impoverished people living in both rural and urban regions, are expected to raise demand for bitumen, hence propelling the India bitumen market forward.
However, human health and environmental hazards associated with bitumen, fluctuating international crude oil prices, and an increase in the usage of bitumen alternatives such as concrete in roadway construction applications are projected to limit market growth. Furthermore, the development of bio-based bitumen and EME (Enrobés á Module Elevé) binder is expected to give attractive potential for continued market development.
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