Press release
Bitumen Market is estimated to grow at a CAGR of 3.4% during 2018 to 2024 | Vital Players are Exxon Mobil Corporation, Indian Oil Corporation Ltd., Royal Dutch Shell Plc., Marathon Oil Corporation, Calumet Specialty Partners Ltd. LP.
Bitumen Market was valued at USD 82.5 billion in 2017 and projected to reach USD xx billion by 2024 growing at a CAGR of 3.4% during the forecast period 2018-2024.
Bitumen Market Overview:
Bitumen is a highly sticky, black and viscous mixture of organic liquids, completely soluble in carbon disulfide and composed mainly of highly condensed polycyclic aromatic hydrocarbons. Natural bitumen is an extremely dense, heavy and thick form of oil that must be heated or diluted before it can flow. It contains mainly sulfur and various heavy metals such as vanadium, lead, nickel, chromium, mercury and other toxic elements.It is also used as a binder or glue, usually mixed with aggregates to form asphalt concrete. The increasing use of bitumen, especially in road construction activities in several developing countries, creates brilliant opportunities for the bitumen market.
Browse details of 224 number of pages research report developed on Bitumen Market @ https://www.researchcosmos.com/reports/global-bitumen-market-analysis-and-forecast-2016-2024-industry-growth-opportunities/3711484
Bitumen Market Growth Drivers and Restraints:
Currently, the global bitumen market is growing rapidly due to advances in bitumen production technology and increased use of bitumen in road construction and renovation activities around the world. It is expected that the global market will grow substantially during the forecast period as a result of the increased use of bitumen for sealing, roof fixing and adhesive in the automotive industry. The increasing use in paints and coatings, inks and dyes, etc., is another key factor in the global market. However, cement is used as an alternative to bitumen, particularly in road construction, which is a key factor that impedes the growth of the global bitumen market. In addition, the release of toxic gases after heating of bitumen also slows the negative impact on the world market.
Geographic Insights of Bitumen Market:
From the geographic perspective, Asia Pacific dominates the global bitumen market and is expected to maintain its dominant position in the coming years. The rapid expansion of the construction sector and the numerous infrastructure development activities observed in countries such as China, India, Thailand and Vietnam are the main factors in the predominance of the market in the Asia Pacific. The presence of key market players such as British Petroleum, ExxonMobil and Shell Bitumen in Asia-Pacific is another important factor behind the demand and growth of this regional market. In addition, the solid road infrastructure observed in the countries of the region will increase the demand for products during the forecast period.
Ask Free Sample of the report @ https://www.researchcosmos.com/request/global-bitumen-market-analysis-and-forecast-2016-2024-industry-growth-opportunities/3711484
Key Market Players of Bitumen Market:
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, and Nynas AB are the major players of the market.
Bitumen Market Key Segmentation:
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)
By Application
• Roadways
• Waterproofing
• Adhesives
• Insulation
• Others
By Region:
• North America
• South America
• Europe
• Asia Pacific
• Middle East and Africa
For any queries, inquire more @ https://www.researchcosmos.com/inquire/global-bitumen-market-analysis-and-forecast-2016-2024-industry-growth-opportunities/3711484
About Us:
Research Cosmos is a provider of standard and customized market research, business intelligence and consulting services across more than 100 domains in different industries of the world. We host the trending market reports of the world’s top-notch publishing companies, offering services to a wide range of customers from students to fortune 500 companies and discloses the hidden opportunities in every leading industry of the world.
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Kevin Stewart
Global Sales Manager
Research Cosmos
www.researchcosmos.com
Blog: https://acutemarketinsights.com
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