Global Bitumen Market is segmented by derivative (Paving, oxidized, cutback, emulsion, polymer modified), by application (Roadways, waterproofing, adhesives, insulation) and by region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America) Global Industry Analysis and Forecast 2018-2026. Global Bitumen Market was valued US$ 85 Bn in 2017 and is estimated to reach approximately US$ 110 Bn by 2026 at a CAGR of about 3.28 % during a forecast.
Bitumen is mainly driven by increasing government policies towards roads and infrastructural development by using Public Private Partnership (PPP) models across developed as well as developing nations. Urbanization led by increase in GDP resulting into road construction and maintenance industry. Various asphalting and paving projects further impels growth to the bitumen market. Cement as a alternative to the bitumen and depleting crude oil reserve hamper the market growth.
Paving segment contributed almost one third share in bitumen market.
Paving bitumen segment contributed almost one third in the overall market and is expected to retain its share due to robust road maintenance and construction activities across globe. Product also has got extended products in construction of greenhouse floors, running tracks, bicycle paths, runways, railway beds etc.
Road ways is the leading derivative segment of bitumen market accounting for almost 80 % share.
Infrastructure Construction activities across globe drives the market of roadways segment in bitumen market. Emerging economies will further fuel the growth to the bitumen market. Bituminous waterproofing systems in roofing will gain popularity in a forecast.
Asia Pacific accounts for two third of share in bitumen market.
Asia Pacific will see significant rise owing to infrastructural activities in China. India witnessed a good growth due to rising manufacturing and construction industries. Increase in expenditure on development of National Highways, including projects relating to expressways, two-laning of highways, under the National Highways Development Project.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading manufacturers such as Exxon Mobil Corporation, Total S.A., Indian Oil Corporation Ltd., Royal Dutch Shell Plc., Marathon Oil Corporation, Calumet Specialty Partners Ltd. LP, Chevron Texaco Corporation, Nynas AB, Villas Austria GmbH, Petroleos Mexicanos and Sinopec, Bouygues S.A., British Petroleum, China Petroleum and Chemical Corporation, Icopal Group, Kraton Corporation, NuStar Energy, Petroleos Mexicanos, Shell Bitumen and Suncor Energy Inc are major players operating in the global bitumen market.
Maximize market research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the global bitumen market. Report encompasses the market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the global bitumen market. The driving forces as well as considerable restraints have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain global bitumen market positioning of competitors.
Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Global Bitumen Market”.
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