Press release
Global Bitumen Market Growth by Key Players: British Petroleum, Royal Dutch Shell, Petroleos Mexicanos, Marathon Oil Corporation, NuStar Energy, Villas Austria, Bouygues, Nynas, Exxon Mobil, Imperial Oil
Global Market Insights, Inc.
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Highly water insolubility of bitumen enables it to be used as sealants and adhesives in marine applications for waterproofing applications. It is also used in water tank manufacturing to help preserve the precious commodity by curbing evaporation and leakage in storage. This demand in the construction industry was a major driving factor in the past and will be a strong driver in coming years.
Overall construction expenditure was valued at approximately USD 7 trillion in 2013 and is anticipated to mark USD 13 trillion by 2024 and is likely to help industry demand. The product is used in manufacturing tires, paints &coatings, batteries, insulation products and acoustic applications. Growing automotive industry will positively impact the global bitumen market.
Strict environmental regulations towards applications and manufacturing process threaten to impede growth in future years. For instance, the industry is firmly directed by occupational exposure limit. In China, Australia, France and Belgium the limit is confined to 5 mg/m3. As the product is obtained from petrochemicals and crude oil, it follows the same price dynamics as crude oil and showed similar sluggish growth in the recent past. Wavering crude and petrochemical prices may impact the bitumen market price trends over the projected period. Nevertheless, emergence of bio-based bitumen is analyzed to create new growth avenues for industry players.
Key insights from the report include:
Bitumen market size will reach USD 110 billion by 2024, with projected growth at over 4%.
Polymer modified bitumen market size is expected to gain significantly over the next 8 years. It is widely used in industrial applications and road surfacing. Polymers are added to the product in order to enhance physical properties such as elasticity and viscosity, of the product making them desirable high stress applications.
Paving bitumen market size is shall witness gains at over 2.5% CAGR by 2024. The product segment shall witness promising gains mainly due to rapid road construction and maintenance globally. It is used in constructing runways, railway beds, playgrounds, tennis courts, running tracks, bicycle paths, greenhouse floors and barn floors.
Growing population along with improved consumer lifestyles has substantially propelled vehicular traffic across the globe, resulting in rising demand for wider roads, which has enhanced demand.
In 2015, the global bitumen market for waterproofing generated revenue more than USD 9 billion. Increasing waterproofing activities such as piping and roofing in the construction will drive business growth.
In 2015, North America held the largest overall bitumen market share. Increasing road development and repair in the U.S. is the prime factor contributing the regional industry growth. In addition, rising residential renovation activities in the U.S. will consequently boost the industry growth in the region.
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Partial Chapter of the Table of Content
Chapter 3. Bitumen Industry Insights
3.1. Industry segmentation
3.2. Industry size and forecast, 2014 - 2025
3.3. Industry ecosystem analysis
3.3.1. Raw material analysis
3.3.2. Manufacturing trends
3.3.3. Profit margin
3.3.4. Value addition
3.3.5. Distributor channel analysis
3.3.6. Vendor matrix
3.3.6.1. List of key raw material suppliers
3.3.6.2. List of key manufacturers/distributors
3.3.6.3. List of key potential customers
3.4. Innovation & sustainability
3.4.1. Patent analysis
3.4.2. Production process
3.4.3. Future trends
3.5. Industry impact forces
3.5.1. Growth drivers
3.5.1.1. Robust growth in the construction industry
3.5.1.2. Growth in road construction activities
3.5.2. Industry pitfalls & challenges
3.5.2.1. Environmental concerns associated with product extraction
3.5.2.2. Fluctuating crude oil prices
3.6. Regulatory landscape
3.6.1. U.S.
3.6.2. Europe
3.6.3. China
3.7. Growth potential analysis
3.8. Regional price trends
3.8.1. Cost structure analysis
3.8.1.1. R & D cost
3.8.1.2. Manufacturing & equipment cost
3.8.1.3. Raw material cost
3.8.1.4. Distribution cost
3.8.1.5. Operating cost
3.8.1.6. Miscellaneous cost
3.8.2. Price by product
3.8.3. Price by application
3.9. Competitive landscape, 2017
3.9.1. Company market share analysis, 2017
3.9.1.1. Global
3.9.1.2. Regional
3.9.2. Brand analysis
3.9.3. Key stake holders
3.9.4. Strategy dashboard
3.10. Porter’s analysis
3.10.1. Supplier power
3.10.2. Buyer power
3.10.3. Threat of new entrants
3.10.4. Industry rivalry
3.10.5. Threat of substitutes
3.11. PESTEL analysis
Browse Full Report @ https://www.gminsights.com/industry-analysis/bitumen-market
Asia Pacific, led by China, is analyzed to observe growth at over 5% by 2024. Strong growth in the regional business is the crucial factor propelling regional growth.
Key industry share contributors are Chevron Texaco, British Petroleum, Total S.A., Indian Oil Corporation, China Petroleum and Chemical Corporation, Shell., JX Nippon Oil &Energy, NuStar Energy, Petroleos Mexicanos, Villas Austria GmbH, Bouygues S.A, Marathon Oil, Exxon Mobil and Nynas AB.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
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Email: sales@gminsights.com
Web: https://www.gminsights.com
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