Improved safety and environmental standards, mounting demand for better road surfaces, huge demand of cost effective constructions for low volume roads, large number of modified binders, recycling possibilities and utilization in asphalt recycling and cold mix technology are the major factor propelling the growth of bitumen market all across the globe. Global bitumen market size is expected to reach USD 110 billion by 2024. Bitumen/Asphalt is the 110 million metric ton (as of 2017) industry owing to the need for maintenance on the massive regional network of roads and highways.On the basis of application, waterproofing applications was valued at over USD 8.78 billion in 2016. On the basis of product, paving bitumen market is forecast to witness gains more than 2.25% CAGR over the estimated period.Geographically, Middle East and Africa bitumen market is anticipated to show remarkable volume gains with CAGR of 2.2% from 2016 to 2024 as a consequence of growing construction sector predominately in UAE and Qatar coupled with rising infrastructure activities in the region.
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• By Grades
o Hard Grade
o Soft Grade
o Polymer Modified Bitumen (PMB)
• By Product
o Paving grade bitumen
o Oxidized bitumen
o Cutback bitumen
o Bitumen emulsion
o Polymer Modified Bitumen (PMB)
o Others (including bitumen formed due to addition of zinc, copper, etc.)
• By Application
• By Geography
o North America (US, Canada)
o Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe)
o Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa)
o Latin America (Brazil, Mexico and Rest of Latin America)
o Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific)
o Rest of the World
“Global Bitumen Market Outlook 2024” contains detailed overview of the global bitumen market in terms of market segmentation by grade, product and application.
Further, for the in-depth analysis, bitumen market report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global bitumen market report also provides competitive outlook forsome of the major players which includes profiling of companies such as British Petroleum, Total S.A., Chevron Texaco Corporation, China Petroleum and Chemical Corporation, Indian Oil Corporation, Royal Dutch Shell Plc., JX Nippon Oil & Energy Corporation, PetroleosMexicanos, Bouygues S.A., NuStar Energy, Villas Austria GmbH, Marathon Oil Corporation, Exxon Mobil Corporation and Nynas AB,etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global bitumen market trends that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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