Global Bitumen Market incredible future growth | 2018 Key Players are British Petroleum, Total S.A., Chevron Texaco Corporation, Valero Energy Corporation, China Petroleum and Chemical Corporation, Royal Dutch Shell Plc, Petroleos Mexicanos, Bouygues S.A,

Based on volume, roadways segment will capture more than 80% of the bitumen market share during the forecast period. The adhesives segment is predicted to poise over USD 1.7 billion by 2025. Rapid urbanization and recovery of construction sector owing to the government’s policy to increase private sector participation is a boon to infrastructure industry especially in developing countries such as India, Thailand among others. The waterproofing segment revenue will capture a market share of around 11% by the end of 2025.

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Based on revenue, cutback bitumen will hold approximately USD 3.9 billion of the overall bitumen market share by 2025. This is due to its growing utilization in sprayed sealing, especially in cold weather conditions where it yields initial stone retention due to their lower viscosity. The product is directly sprayed over the primed pavement on which final aggregate is laid. Bitumen emulsion segment will hold a lesser market share than the cutback secor in 2025 and will grow with a CAGR of close to 3.5% during the forecast spell.

Adhesives segment will hold over USD 1.7 billion for the global revenue by 2025 and is anticipated to grow due to increasing usage of bituminous adhesive in cold-applied bonding, sealing, interply and surfacing. Cold applied bituminous adhesive is used for sticking roofing felts on asbestos, tiles including roofs on trains and railway carriages. Oxidized bitumen are processed by streaming air through penetration grade process, which gives the bitumen more rubbery texture than its original form. The insulation segment will exhibit a growth rate of over 2.5% due to growing usage of oxidized bitumen in electric cable joint protection, joint filling compound, sealant compound and many others.

In construction sector, bitumen is among the major raw materials used in manufacturing water tanks, dams and bridges since it provides high viscosity, stickiness and water resistance to the structure. The escalating number of property renovation projects and modern construction systems especially in North America & Europe having waterproofed flat roofs will further stimulate the demand for bitumen. Rapid urbanization in developing regions such as Asia Pacific and Latin America comprises a huge market for road construction, development and infrastructure. Increasing land connectivity in China, India, Vietnam, Japan, Brazil and several such other countries will gradually drive the bitumen market during the forecast spell. This connectivity majorly depends on roads that act as a catalyst for the economic growth of a country.

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Bitumen Market, By Product

o Paving bitumen
o Roadways
o Waterproofing
o Adhesives
o Insulation
o Others
o Oxidized bitumen
o Roadways
o Waterproofing
o Adhesives
o Insulation
o Others
o Cutback bitumen
o Roadways
o Waterproofing
o Adhesives
o Insulation
o Others
o Bitumen Emulsion
o Roadways
o Waterproofing
o Adhesives
o Insulation
o Others
o Polymer Modified Bitumen (PMB)
o Roadways
o Waterproofing
o Adhesives
o Insulation
o Others
o Others
o Roadways
o Waterproofing
o Adhesives
o Insulation
o Others

Bitumen Market, By Application
• Roadways
• Waterproofing
• Adhesives
• Insulation

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Asia Pacific will hold the maximum bitumen consumption with a market share of close to 40% by the end of forecast period. The growing infrastructure development projects due to government initiatives and maintenance of existing ones to gain greater access to rural areas is the major driving force behind the growing demand for bitumen across the APAC region.

Global bitumen market is consolidated and quite competitive due to presence of several industry players. Some crucial players in the industry are Chevron Texaco Corporation, Indian Oil Corporation, China Petroleum and Chemical Corporation, Total, JX Nippon Oil & Energy Corporation, British Petroleum, Royal Dutch Shell, Petroleos Mexicanos, Marathon Oil Corporation, NuStar Energy, Villas Austria, Bouygues, Nynas, Exxon Mobil, Imperial Oil.

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