Based on the forecast, India's import of petroleum bitumen is expected to witness a steady increase from 2024 to 2028. In 2023, the actual import volume was recorded lower than the projected 1.2487 billion kilograms for 2024. Year-on-year percentage increases are observed as follows: 2025 at approximately 4.72%, 2026 at 4.43%, 2027 at 4.15%, and 2028 at 3.90%. The compound annual growth rate (CAGR) from 2024 to 2028 suggests an average growth of around 4.30% annually, indicating stable growth in bitumen import.
Future trends to watch for include the potential impact of infrastructure development demands, changes in domestic bitumen production, and fluctuations in international oil prices that could affect import volumes. Monitoring government policies related to renewable energy initiatives and environmental regulations may also provide insights into future import needs and trends.
