INDIA'S BITUMEN IMPORT SKYROCKETS 30% THIS YEAR AS DOMESTIC PRODUCTION FALLS
Short Analysis
INDIA'S BITUMEN MARKET IN JAN-MAY 2023
Report by Premium Petro Products
India's bitumen import increased by 29% in Jan-May 2023, compared to Jan-May 2022. The country imported 2.07 million MT of bitumen during the period, up from 1.60 million MT in the same period last year.
India's bitumen production decreased by 5% in Jan-May 2023, compared to Jan-May 2022. The country produced 2.55 million MT of bitumen during the period, down from 2.68 million MT in the same period last year.
INSIDE THIS ISSUE:
Increase in Bitumen Imports in January to May 2023 compared to the same period in 2022: 29%
India's bitumen consumption decreased by 6% in Jan-May 2023, compared to Jan-May 2022. The country consumed 3.87 million MT of bitumen during the period, down from 4.11 million MT in the same period last year.
COMPARISION CHART
OUR CONCLUSION
India's bitumen market saw a mixed performance in Jan-May 2023. Import increased by 29%, while production and consumption decreased by 5% and 6%, respectively. The outlook for the market is mixed, with the rising demand for bitumen likely to support the market in the near term, but the slowdown in the country's economic growth posing a risk to the market in the long term.