Tiki Tar Industries

What Tiki Tar Industries does

Tiki Tar Industries is a Mumbai-based, privately held manufacturer and supplier of construction materials, founded in 1964. It operates three core divisions: Tiki Tar & Shell (bitumen products, a 50-50 joint venture with Shell India established in 2019), TIKIDAN (construction chemicals and waterproofing systems, a joint venture with Spain's Danosa formed in 2014), and TIKI INSULATION (mechanical insulation solutions). The portfolio spans more than 150 products serving road, bridge, metro, commercial, and industrial construction segments.

The company runs six manufacturing plants and 13 sales locations across India, producing on the order of 250,000 tons of bitumen per year. Revenue is generated primarily through specification-driven supply contracts on large infrastructure and industrial projects, with material supplied to iconic engagements including the Statue of Unity, Chenab Bridge, Zojila Tunnel, Delhi-Mumbai Expressway, Chennai Metro, Mumbai-Pune Expressway, Buddh International Circuit, Rajiv Gandhi Setu, and the Hong Kong-Zhuhai-Macau Bridge, alongside commercial work such as Samsung India facilities.

Tiki Tar has expanded into 15 countries across Asia and the Middle East and has stated a "GOAL ZERO" sustainability commitment targeting 2030. The business model relies on long-cycle tender wins, JV-licensed formulations, and certification-backed qualification rather than disclosed subscription or transactional pricing, and the company remains private with no published financials.

Name

Tiki Tar Industries

Legal name

Tiki Tar Industries

Website

https://tikitar.com

Company type

Private

Founded year

1964

Operating status

Operating

Headcount range

51–100 employees

Short description

Mumbai-headquartered manufacturer of bitumen, construction chemicals, and mechanical insulation serving infrastructure, industrial, and commercial construction projects across 15 countries since 1964.

Ownership category

akta.pro rank

Product category

Construction Chemicals and Bituminous Products

NAICS

Asphalt Paving, Roofing, and Saturated Materials Manufacturing (32412), Asphalt Shingle and Coating Materials Manufacturing (324122)

SIC

Adhesives & Sealants (2891), Paints, Varnishes, Lacquers, Enamels & Allied Prods (2851)

akta.pro primary industry

Industrial & Waterproofing Bitumen Products (Roofing, Membranes, Shingles, Sealants) (EUALAKAF)

akta.pro secondary industries

Sealants (Construction & Industrial) (IMAEAGAI), Sealants, Expansion Joints & Weatherproofing (Caulking, Joint Systems) (IMAFAMAF)

Keywords

• Bitumen products
• Construction chemicals
• Waterproofing solutions
• Pavement technology
• Insulation products

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Bitumen Products: Manufacturing and supply of bitumen products for roads, highways, airports, and racetracks through Tiki Tar and Shell India JV. Products include standard-grade bitumen, polymer-modified bitumen, emulsions, and crumb rubber modified bitumen.
2. Construction Chemical Solutions: Construction solutions including flooring, waterproofing, thermal insulation, and acoustic insulation under TIKIDAN brand through JV with Danosa Spain
3. Insulation Chemicals: Manufacturing and marketing of high-quality adhesives, sealants, coatings, and mastics for mechanical insulation covering hot, cold/cryogenic, and HVAC applications
4. Protective Coatings: Protective and anti-corrosive coatings including coal tar epoxy, bitumen-based coatings for steel protection and waterproofing applications

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Tiki Tar Industries manufactures and supplies construction materials through three divisions: (1) Tiki Tar & Shell (50-50 JV with Shell India) for bituminous products such as polymer-modified bitumen, emulsions, and crumb rubber modified bitumen used in roads, highways, airports, and racetracks; (2) TIKIDAN (JV with Danosa Spain) for waterproofing, thermal and acoustic insulation, flooring, drainage, and sealants for buildings; and (3) TIKI INSULATION for mechanical insulation chemicals including adhesives, sealants, coatings, and mastics covering hot, cryogenic, and HVAC applications.

Product overview

Tiki Tar Industries operates as a multi-brand construction solutions company with three primary divisions: Tiki Tar & Shell (50-50 joint venture with Shell, established 2019) handles bitumen and pavement technology for roads, highways, airports, and racetracks; TIKIDAN (joint venture with Danosa Spain, established 2014) provides building materials including waterproofing, thermal/acoustic insulation, and flooring; and TIKI INSULATION manufactures mechanical insulation products (adhesives, sealants, coatings, mastics) for hot, cold, cryogenic, and HVAC applications. The company also produces protective coatings, sealants, and speciality bitumen products. Founded in 1964, the company serves infrastructure projects across India with 6 manufacturing plants, 13 sales locations, and operations in 15 countries.

Differentiator

Problem solved

Functional benefit

Brands

• Tiki Tar and Shell: Bitumen and pavement technology joint venture with Shell India delivering bituminous products for roads, highways, airports, and racetracks.
• TIKIDAN
• TIKI INSULATION

Products and services

• Tiki Tar & Shell Bituminous Products Bituminous product line offered through the 50-50 joint venture with Shell India, providing standard-grade bitumen, polymer-modified bitumen, emulsions, and crumb rubber modified bitumen for road construction, highways, expressways, airports, and racetracks, combining over 100 years of combined expertise in pavement technology.
• TIKIDAN Construction Solutions Construction solutions brand from the JV with Danosa Spain, offering waterproofing, thermal insulation, acoustic insulation, flooring, drainage, and sealants for buildings and infrastructure across India, combining Tiki Tar's market presence with Danosa's materials science expertise.
• TIKI INSULATION Mechanical Insulation Mechanical insulation division manufacturing and marketing high-quality adhesives, sealants, coatings, and mastics for hot, cold/cryogenic, and HVAC insulation applications, with over 60 years of expertise in the Indian subcontinent and NABL-accredited in-house testing (ISO/IEC 17025:2017).
• Hot Insulation Products High-temperature insulation solutions including the TIKI series adhesives (P8133, F8182, K8127, STIC PLUS 8110), sealants (F9544, F3045/3045N, FCP70, B9588, F9533), mastics (K9007, KCP9/KCP9+, F6090/6091, P6505, P6044/6045, K3500, K4650/4651, K3090/3091), and coatings designed for hot surface insulation.
• Cold and Cryogenic Insulation Products Low-temperature insulation solutions including adhesives (VS9066, F8277, F8184, AP88, F8575), sealants (VS9061, F9555, P9550/9550+), mastics (M6038/6039, F6075), and coatings for cryogenic applications and cold storage systems.
• HVAC Insulation Products Heating, ventilation, and air conditioning insulation solutions including TIKI series adhesives (K8560, F8122, STIC 8522, F8520, K8550), sealants (K3217, K3219, SMARTSEAL B395), and mastics for ductwork insulation.
• Protective & Anti-Corrosive Coatings Industrial protective and anti-corrosive coatings including TIKI CTE (Coal Tar Epoxy), TIKI FLASH (Bitumen Aluminum Paint), TIKI KOTE (water-based coating), and TIKI MASTIC for protecting steel and concrete structures from corrosion in refineries, factories, and infrastructure facilities.
• Sealants & Adhesives Construction-grade sealants and adhesives including TIKI BOND (cold-applied bituminous adhesive) and TIKI PLAST (bituminous compound) for waterproofing, caulking, and sealing applications in roofing and general construction.
• Speciality Bitumen Specialized bitumen products formulated for specific applications in road construction, roofing, and industrial uses beyond the standard bitumen grades offered through the Tiki Tar & Shell joint venture.

Quantifiable outcome

• 300,000+ kilometers of roads paved
• +3 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered flagship.

• Shell IndiaflagshipStrategic or Co-development Partner · 1 January 2019Tiki Tar partnered with Shell through a 50-50 incorporated Joint Venture in 2019 to cover huge demand in the road construction sector. Together, Tiki Tar and Shell India brings over 100 years of knowledge and reliability in delivering bituminous products for major roads, highways, iconic bridges, airports, and racetracks around the world. The JV operates under the brand Tiki Tar and Shell India.
• Danosa (Spain)flagshipStrategic or Co-development Partner · 1 January 2014Tiki Tar Industries joined forces with Danosa, one of the leading construction solution providers from Spain, to form Tiki Tar Danosa India Pvt Ltd. The JV operates under the brand name TIKIDAN and brings together Tiki Tar's local expertise and market presence with Danosa's materials science, research, and expertise to the Indian Construction Industry. The partnership covers waterproofing, thermal insulation, acoustic insulation, and other construction chemical solutions.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Berger Paints India: Major Indian paints and coatings company expanding into waterproofing and construction chemicals. Competes with Tiki Tar in protective and anti-corrosive coatings, with broader decorative coatings scale and brand reach.
• Asian Paints: India's largest paint and coatings company with a growing construction chemicals portfolio (waterproofing, adhesives). Overlaps with Tiki Tar's protective coatings and waterproofing businesses but operates at significantly greater scale and across decorative as well as industrial segments.

Direct peers

• CICO Technologies: Construction chemicals company offering waterproofing, repair, sealants, and protective coatings. Comparable B2B infrastructure and buildings focus, with similar specialty chemicals positioning versus Tiki Tar's TIKIDAN and TIKI INSULATION offerings.
• Chembond Chemicals: Indian manufacturer of construction chemicals, waterproofing, sealants, and industrial coatings. Comparable product mix and project-based B2B go-to-market targeting infrastructure, buildings, and industrial customers in India.
• Sika India: Subsidiary of Swiss specialty chemicals major Sika, focused on concrete admixtures, waterproofing, sealants, and flooring systems. Direct competitor in construction chemicals and waterproofing, with comparable B2B project sales motion and premium specification positioning.
• Pidilite Industries: India's dominant adhesives and sealants company (Fevicol, Dr. Fixit waterproofing). Direct overlap with Tiki Tar's TIKIDAN waterproofing line, TIKI INSULATION adhesives/sealants, and construction chemicals portfolio, serving the same B2B contractor and project channels.
• Fosroc India: Construction chemicals specialist (admixtures, waterproofing, sealants, protective coatings) operating in India. Direct competitor across Tiki Tar's TIKIDAN and TIKI INSULATION product lines, particularly in infrastructure and industrial projects.
• STP Ltd (Shalimar Tar Products): Indian manufacturer of bitumen, bituminous products, waterproofing membranes, and construction chemicals. Among the closest direct peers to Tiki Tar given the shared heritage in tar/bitumen products and similar end-market exposure.
• Mapei India: Indian operations of Italian construction chemicals major Mapei, providing adhesives, sealants, waterproofing, and specialty products. Directly comparable to Tiki Tar's TIKIDAN and TIKI INSULATION product portfolios across construction and infrastructure projects.

Regional players

• Supreme Industries: Large Indian plastics and building products company with waterproofing membranes, protective packaging, and construction-related products. Comparable in Indian infrastructure and buildings channels but with a broader plastics-driven portfolio rather than a chemicals focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/TikiTarIndustries
• LinkedInlinkedin.com/company/tikitar-industries
• Instagraminstagram.com/tikitarindustries
• Xx.com/tikitarltd

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tiki Tar Industries