Global Bitumen Market Size is Projected to Exceed USD 110 Billion by 2024

(EstateNewsWire.com, October 09, 2018 ) According to Goldstein Research, bitumen is used as a binder in road construction and in roofing and waterproofing applications. Almost 80% of the bitumen is consumption across globe is in road construction with the balance of 20% shared equally for roofing and waterproofing. Further, augmented demand in developing nations owing to growth construction industry will provide the major impel to the market growth.

Bitumen market outlook also includes new technological advancements, product developments and capital investment as the key strategies adopted by the major players for a significant expansion of business in developed and as well as in developing countries across the globe. According to International Journal of Innovative Research & Development, research is going on analysis of properties in bitumen and asphalt with partial replacement of rubber tires by utilizing waste rubber tires (automobile) for the strengthening of pavement. Global bitumen market size is poised to exceed USD 110 billion by 2024 and is expected to expand at a CAGR of 6.59% over the forecast period. APAC bitumen Market is projected to account for a volume share of around 31% of the global bitumen market by the end of the 2024 owing to rising construction projects in India, China, Thailand, and Vietnam.

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Market Segmentation

On the basis of our in-depth analysis, global bitumen market can be segmented as follows:

By Grades

• Hard Grade

• Soft Grade

• Polymer Modified Bitumen (PMB)

By Product

• Paving grade bitumen

• Oxidized bitumen

• Cutback bitumen

• Bitumen emulsion

• Polymer Modified Bitumen (PMB)

• Others (including bitumen formed due to addition of zinc, copper, etc.)

By Application

• Roadways

• Waterproofing

• Adhesives

• Insulation

• Others

By Geography

• North America {Market Share (%), Market Size (USD Billion)}

• Europe {Market Share (%), Market Size (USD Billion)}

• Middle East and Africa {Market Share (%), Market Size (USD Billion) }

• Latin America {Market Share (%), Market Size (USD Billion) }

• Asia Pacific {Market Share (%), Market Size (USD Billion) }

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“Global Bitumen Industry Outlook 2024” incorporates the comprehensive overview of the global bitumen market. On the basis of our in-depth analysis, market can be segmented in terms of market segmentation by grade, by product, and by application.

Further, for the in-depth analysis, Global Bitumen Indsutry Analysis encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such as Total S.A., Chevron Texaco Corporation, China Petroleum and Chemical Corporation, Indian Oil Corporation, Royal Dutch Shell Plc., JX Nippon Oil & Energy Corporation, Petroleos Mexicanos, Bouygues S.A. and NuStar Energy etc. The market players profiles comprise business strategy, major information of the companies which encompasses, regional revenue distribution business outlook, products, services and financial analysis of the company and recent developments. On the basis of the geographical analysis, Global bitumen market size is poised to exceed USD 110 billion by 2024 and is expected to expand at a CAGR of 6.59% over the forecast period. APAC Bitumen Market is projected to account for a volume share of around 31% of the global bitumen market by the end of the 2024 owing to rising construction projects in India, China, Thailand, and Vietnam.

Overall, the report represents the global bitumen market trends along with the market forecast that will help industry consultants, technology providers, 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.

Key questions answered in this global bitumen market report

• What is the global bitumen market Size by 2024 and what would be the expected growth rate of the industry?

• What is the total revenue per segment and region in 2015-16 and what would be the expected revenue per segment and region over the forecast period?

• What are the bitumen market trends?

• What are the factors which are driving this industry?

• What are the major barriers to bitumen industry growth?

• What are the industry opportunities for the existing and entry-level players?

• What are the recent developments and business strategy of the key players?

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Steve Blade

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