The export of Bitumen and Asphalt, Asphaltites, and Asphaltic Rocks from India has seen significant fluctuations over the past decade. From the actual data in 2023, the volume stood at around 5.1 million kilograms, demonstrating a -4.33% decrease year-on-year. Examining the trends over the last two years, the exports declined by 4.33% from 2022 to 2023 and by a slight increase of 0.81% from 2021 to 2022. Analyzing the long-term trend, the Compounded Annual Growth Rate (CAGR) over the past five years (2018-2023) is 0.44%, signifying a very modest average annual increase.
Looking ahead, forecasted data shows a declining trend. The volume is expected to fall to approximately 3.88 million kilograms by 2028, reflecting a projected 5-year CAGR of -4.28% and a total forecasted decline of 19.65% from 2023 to 2028. The export volumes are expected to continue a downward trajectory marked by consistent yearly reductions.
Future trends to watch for include potential shifts in global demand for bitumen and asphalt materials, changes in trade policies, and technological advancements in production and usage of these materials. Tracking geopolitical developments and trade agreements affecting major importing countries could provide further insights into future trends.
