The Philosophy Of Petrochemical Industry

In developing economies like India, petrochemicals have an impactful influence on the economy. Dominating FY 2020, the basic Petrochemical segment accounts for 45.53% of the share of market volume. In 2020, the volume of the petrochemical industry stood at 42.50 Mn tons and had been predicted to potentially rise at a growth rate of 6.14% in the next 5 years estimating 49.62 Mn tons in the year 2025.

Challenges For The Petrochemical SMEs During Pandemic

Yet, there have been many adverse effects in the Petrochemical market over the Pandemic. In India, Bitumen prices exponentially soared from January to March. With the increase in Coronavirus cases over the 3rd week of March, the bitumen prices were further expected to surge. But, April’s nationwide lockdown plummeted the market values for bitumen.

The bitumen prices were anticipated to surge also because of more construction activities before the monsoon. But it did not happen because of the Coronavirus breakdown. Instead, the lowered prices remained stable as the upcoming projects halted and the ongoing projects were slowed down.

The vaccination process across the country got faster, most of the lockdown restrictions were lifted, and oil prices grew in June. Even then, bitumen prices fell due to labour shortages and logistics challenges in India.

These constant fluctuations in the market value of bitumen have affected the industry. While the leading enterprises can cope up with such oscillations, the SMEs suffer a great deal due to relentless variations in the market prices.

What Solutions Are Available In The Market?

There are many methods for SMEs to sustain themselves in these difficult times. From Large scale loans to revising market strategies and taking bigger risks. Regardless of choice, SMEs have a high-risk factor that can adversely impact their businesses. However, OfBusiness has completely different plans for such SMEs to sustain longer and better.

OfBusiness offers quick and detailed quotes and credit facilities for SMEs to procure their businesses with ease. Focusing on the PetroChemical Industry, we specialize in the provision of various grades of bitumen.

How OfBusiness Solve These Problems For Petrochemical SMEs?

The imported bitumen has a huge market of close to 3Lakh MT of imported bitumen coming to India monthly with an average rate of Rs 34,000/MT.

We deal with bulk bitumen VG30 and 40 grades approved in NHAI, SH, and PWD projects awarded for road construction. We also deal in modified grades of bitumen: PMB, CRMB, 85/25 Blown bitumen. Other than bitumen, we also provide all grades of emulsions qualified by the NABL standards. Catering to businesses as per their requirements with highly optimized quotes.

Many Road developers prefer bitumen from the countryside rather than the imported ones. This is because the minimum quantity of bitumen supplied by the countryside manufacturers is relatively cheaper than the foreign manufacturers. Thus, we procure this material directly from manufacturers in various parts of our nation like Rajasthan, Gujarat, Maharashtra, and others. We are providing the best offers to procure raw materials for businesses.

We have more than 5 years of experience in catering NHAI, SH, and PWD projects. We also work with reputed companies like TATA, JAI, and many more.

Further Products that OfBusiness Offers

Other than bitumen, fuels are also a massive and significant market with utilization both in the infra sector as well as in the manufacturing sector. Thus, we deal in LDO, PO, fuel oils, and biodiesel. We also cater to Base Oil that serves as a raw material for the lubricant manufacturers, and transformer oils that cater to the needs of transformer manufacturers. Next in line products include the varied grades of base oils for manufacturing industries, especially the auto sector.

All our products have quality as they are tested and certified by qualified standards. We ensure our customers with the best market rates with efficient prices. We also supply materials in lesser quantities for small buyers and huge quantities to cater to NHAI road projects and other big projects for larger enterprises.

Any local Indian company looking to procure supplies should contact us for an easy, quick, and efficient quote. We operate pan India.

Also Read:-
– Empowering SMEs in the Leather and Footwear Industry
– The Polymer Legacy of OfBusiness