Market Forecast By Product Type (Paving Grade, Hard Grade, Oxidized Grade, Bitumen Emulsions, Polymer Modified Bitumen, Other), By Application (Road Construction, Waterproofing, Adhesives, Other) And Competitive Landscape
Product Code: ETC043356 | Publication Date: Jan 2021 | Updated Date: May 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 60 | No. of Figures: 15 | No. of Tables: 3 | |
Ghana Bitumen market currently, in 2023, has witnessed an HHI of 7167, Which has increased slightly as compared to the HHI of 4206 in 2017. The market is moving towards Highly concentrated. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.
Ghana Bitumen Market has witnessed robust growth recently, driven by the expansion of the road network on the back of increasing road construction and thriving residential sector in the country. Residential infrastructure development, particularly in housing and urban development, has contributed to this growth. For instance, in 2020, TDCL collaborated with the National Housing and Mortgage Fund to complete the construction of 204 housing units. Such developments have spurred potential demand for bitumen due to its essential role in waterproofing structures.
According to 6Wresearch, Ghana Bitumen Market is projected to grow at a CAGR of 4.7% during 2024-2030. The Bitumen Market in Ghana is poised for growth in the coming years, attributed to the implementation of the Ghana Infrastructure Plan (2018-2027), With an ambitious objective to extend the existing road network from 78,401 kilometers to a significant 253,000 kilometers by 2047, this plan aims to greatly enhance transportation infrastructure nationwide, fostering improved connectivity for both urban and rural areas. Additionally, alongside expanding the road network, there's a targeted increase in the proportion of paved roads from the current 23% to a substantial 70% by 2047, thus generating significant potential demand for bitumen in the country. Furthermore, the Government is planning to resurface approximately 10,000km of roads and build new highways and urban roads to improve connectivity and facilitate economic growth, which is likely to generate a potential demand of around 1,00,000 metric tonnes of bitumen during the forecast period, which is likely to expand the bitumen market in the country.
Paving grade bitumen has secured a dominant position in the Ghanaian bitumen market due to a significant rise in road construction and maintenance projects nationwide. In 2022, the President of Ghana designated the year as the "Year of Roads," heralding the commencement of numerous road initiatives. These projects include the construction of the Kumasi South and Western Bypass, Kumasi Outer Ring Road, Mamfe-Koforidua Road, among others. Additionally, five interchanges were erected in the Greater Kumasi Metropolitan Area during the same year.
During the forecast period, the road construction segment is expected to continue its domination in the Ghana Bitumen Market on account of an increase in road construction activities due to the Ghana National Infrastructure Plan (2018-2047) under which the government aims to create extensive bus routes to connect major cities across the country as part of Mass transport system and link urban areas in regional capitals by multi-lane carriageway.
The report provides a detailed analysis of the following market segments:
1. Executive Summary |
2. Introduction |
2.1 Report Description |
2.2 Key Highlights of the Report |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3. Ghana Bitumen Market Overview |
3.1 Ghana Bitumen Market Revenues (2020-2030F) |
3.2 Ghana Bitumen Market Industry Life Cycle |
3.3 Ghana Bitumen Market Porter's Five Forces |
4. Ghana Bitumen Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraint |
5. Ghana Bitumen Market Trends & Evolution |
6. Ghana Bitumen Market Overview, By Product Type |
6.1 Ghana Bitumen Market Revenue Share & Revenues, By Product Type, (2020-2030F) |
6.1.1 Ghana Bitumen Market Revenues, By Paving Grade, (2020-2030F) |
6.1.2 Ghana Bitumen Market Revenues, By Hard Grade, (2020-2030F) |
6.1.3 Ghana Bitumen Market Revenues, By Oxidized Grade, (2020-2030F) |
6.1.4 Ghana Bitumen Market Revenues, By Bitumen Emulsions, (2020-2030F) |
6.1.5 Ghana Bitumen Market Revenues, By Polymer Modified Bitumen, (2020-2030F) |
6.1.6 Ghana Bitumen Market Revenues, By Others, (2020-2030F) |
7. Ghana Bitumen Market Overview, By Application |
7.1 Ghana Bitumen Market Revenue Share & Revenues, By Application, (2020-2030F) |
7.1.1 Ghana Bitumen Market Revenues, By Road Construction (2020-2030F) |
7.1.2 Ghana Bitumen Market Revenues, By Waterproofing (2020-2030F) |
7.1.3 Ghana Bitumen Market Revenues, By Adhesives (2020-2030F) |
7.1.4 Ghana Bitumen Market Revenues, By Others (2020-2030F) |
8. Ghana Bitumen Market Key Performance Indicators |
9. Ghana Bitumen Market Import Statistics |
10. Ghana Bitumen Market Opportunity Assessment |
10.1 Ghana Bitumen Market Opportunity Assessment, By Product Type (2030F) |
10.2 Ghana Bitumen Market Opportunity Assessment, By Application (2030F) |
11. Ghana Bitumen Market Competitive Landscape |
11.1 Ghana Bitumen Market Revenue Ranking, By Companies (2023) |
11.2 Ghana Bitumen Market Competitive Benchmarking, By Operating Parameters |
12. Company Profiles |
12.1 GOIL PLC |
12.2 TotalEnergies Marketing Ghana PLC |
12.3 Vivo Energy Ghana |
12.4 Tiger Cement Limited |
12.5 First Sky Bitumen Processing Limited |
12.6 Sika Chemicals Ghana Ltd. |
12.7 Petra Oil Ghana Ltd. |
13. Key Strategic Recommendation |
14. Disclaimer |
List of Figures |
1. Ghana Bitumen Market Revenues, 2020-2030F ($ Million) |
2. Ghana Percentage of Urban Population, 2018-2050F, (%) |
3. Ghana Corruption Perception Index Score 2020-2022 |
4. Ghana Government Debt to GDP Ratio, 2019-2022 |
5. Ghana Bitumen Market Revenue Share, By Product Type, 2023 & 2030F |
6. Ghana Bitumen Market Revenue Share, By Application, 2023 & 2030F |
7. Ghana road network size, 2018-2047F |
8. Ghana Paved roads as a percentage of total roads , 2018-2047F |
9. Proportion of dwelling units in Ghana, 2022 (In %) |
10. Number of residential structure in Ghana, 2022 (In million) |
11. Ghana Share of Top 3 Import Partners for HS Code 2713, 2714 and 2715, 2023 |
12. Ghana Bitumen Import Data, By Country for HS Code 2713, 2714 and 2715, 2023 (in $ Thousand) |
13. Ghana Bitumen Market Opportunity Assessment, By Product Type, 2030F ($ Million) |
14. Ghana Bitumen Market Opportunity Assessment, By Application, 2030F ($ Million) |
15. Ghana Bitumen Market Revenue Share, By Companies, 2023 |
List of Tables |
1. Ghana Major Road Construction Projects, As of 2023 |
2. Ghana Bitumen Market Revenues, By Product Type, 2020-2030F ($ Million) |
3. Ghana Bitumen Market Revenues, By Application, 2020-2030F ($ Million) |