The import forecast of petroleum coke and petroleum bitumen to India shows a projected increase from 2024 to 2028, with values rising from $2.79 billion to $3.22 billion. This reflects a steady year-on-year growth. In comparison, the actual import value in 2023 stood at approximately $2.68 billion. Year-on-year percentage increases appear stable, highlighting a consistent upward trend in import value over this period. The compound annual growth rate (CAGR) across these five years suggests a robust average annual increase in import expenditure.
Future trends to watch for include the impact of global oil prices, India's energy policies, and advancements in alternative energy sources that may influence the demand for petroleum products. Additionally, infrastructure and construction activities in India could significantly affect import volumes and values.
