The India asphalt market size reached USD 8.47 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 13.14 Million by 2033, exhibiting a growth rate (CAGR) of 5.00% during 2025-2033. The market is experiencing steady growth, driven by expanding infrastructure projects, particularly in road construction and urban development. Additionally, government initiatives, such as the National Infrastructure Pipeline (NIP), along with the rising demand for durable road surfaces, are fueling the widespread adoption of asphalt products in the country.
Report Attribute
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Key Statistics
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Base Year
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2024
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Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024 | USD 8.47 Million |
Market Forecast in 2033 | USD 13.14 Million |
Market Growth Rate 2025-2033 | 5.00% |
Growing Demand Driven by Infrastructure Expansion
India’s asphalt market is experiencing steady growth due to large-scale infrastructure projects aimed at enhancing transportation networks. Government-led initiatives such as Smart Cities Mission are fueling the demand for high-quality asphalt in road construction, highways, and expressways. For instance, as of December 2024, India’s Smart Cities Mission (SCM) achieved 91% project completion, with a total investment of ₹1.47 lakh crore. The development of logistics corridors and upgrading of city roads are other critical drivers fueling market growth. With India planning to enhance city-rural connectivity, the demand for long-lasting road surfaces with greater load-carrying capacity is on the rise. Airports and seaports are also being significantly upgraded, demanding asphalt solutions that provide better performance under heavy traffic loads. Also, the growth in urbanization is creating demand for commercial and residential infrastructure, increasing demand for high-performance asphalt products. As more investments are being made in industrial corridors and metro rail networks, the market is witnessing increased use of modified asphalt for better durability and resistance to harsh weather conditions. With government accelerating infrastructural development, demand for quality asphalt products is likely to further increase, opening up prospects for producers to innovate and respond to changing construction needs.
Sustainability and Eco-Friendly Asphalt Solutions
Sustainability is becoming a major focus in the India asphalt market as regulatory policies and environmental concerns push for greener construction practices. The rising adoption of recycled asphalt pavement (RAP) is helping reduce reliance on virgin materials while cutting down waste and emissions. For instance, as per recent study, incorporating RAP can decrease asphalt production emissions by up to 20%. In line with this, RAP allows old asphalt to be reprocessed and reused in new pavement, making road construction more cost-effective and sustainable. Low-carbon bitumen technologies are also gaining attention, with manufacturers developing bio-based and sulfur-enhanced bitumen that offers improved durability while lowering environmental impact. For instance, according to industry reports, lignin-based bio-bitumen may cut greenhouse gas emissions by 70%. Additionally, warm mix asphalt (WMA) is being promoted as an eco-friendly alternative, reducing energy consumption during production and lowering greenhouse gas emissions. The push for green infrastructure development, particularly under initiatives like Smart Cities, is accelerating the adoption of sustainable asphalt solutions. Furthermore, as India continues its transition towards eco-conscious construction, demand for innovative, low-emission asphalt products is expected to rise, shaping the future of road infrastructure with environmentally responsible materials.
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on product, asphalt type, application, and end-use sector.
Product Insights:
The report has provided a detailed breakup and analysis of the market based on the product. This includes asphalt paving mixtures and blocks, prepared asphalt and tar roofing and siding products, roofing asphalts and pitches, and coatings and cement.
Asphalt Type Insights:
A detailed breakup and analysis of the market based on the asphalt type have also been provided in the report. This includes hot mix asphalt, warm mix asphalt, and cold mix asphalt.
Application Insights:
The report has provided a detailed breakup and analysis of the market based on the application. This includes roadways, waterproofing, recreation, and others.
End-Use Sector Insights:
A detailed breakup and analysis of the market based on the end-use sector have also been provided in the report. This includes non-residential, residential, and others.
Regional Insights:
The report has also provided a comprehensive analysis of all the major regional markets, which include North India, South India, East India, and West India.
The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
Report Features | Details |
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Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Million USD |
Scope of the Report | Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
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Products Covered | Asphalt Paving Mixtures and Blocks, Prepared Asphalt and Tar Roofing and Siding Products, Roofing Asphalts and Pitches, Coatings and Cement |
Asphalt Types Covered | Hot Mix Asphalt, Warm Mix Asphalt, Cold Mix Asphalt |
Applications Covered | Roadways, Waterproofing, Recreation, Others |
End-Use Sectors Covered | Non-Residential, Residential, Others |
Regions Covered | North India, South India, East India, West India |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
Key Benefits for Stakeholders: