Bitumen Market Future Outlook | Exxon Mobil Corporation, China Petroleum and Chemical Corporation, Royal Dutch Shell

This Bitumen market report provides explanation about the detailed market analysis with inputs from industry experts. The Bitumen market ype, organization size, availability on-premises, end-users’ organization type, and the availability in areas such as North America, South America, Europe, Asia-Pacific and Middle East & Africa are kept into view while formulating this global market report. The research studies involved in this report helps to evaluate several important aspects that includes but are not limited to investment in a rising market, success of a new product, and expansion of market share. Bitumen market research analysis puts forth a vast market place clearly into focus.

Major Leading players Covered in the bitumen market report are Exxon Mobil Corporation, China Petroleum and Chemical Corporation, Royal Dutch Shell, JX Nippon Oil & Energy Corporation, Total S.A., Suncor Energy, Petroleos Mexicanos, Nynas AB and others.

The Bitumen market was valued at XX Million US$ in 2018 and is projected to reach XX Million US$ by 2024, at a CAGR of XX% during the forecast period. In this study, 2018 has been considered as the base year and 2019 to 2024 as the forecast period to estimate the market size for Bitumen. Request a sample of this research report at  https://www.researchformarkets.com/sample/global-bitumen-market-528903 

Global Bitumen industry market professional research 2014-2024, is a report which provides the details about industry overview, industry chain, market size (sales, revenue, and growth rate), gross margin, major manufacturers, development trends and forecast.

Bitumen Market segmentation, by product types:

Natural Bitumen
Petroleum Bitumen
Coal-Tar Pitch

Bitumen Market segmentation, by applications:

Emulsion
Polymer Modified
Roadways
Waterproofing
Adhesives
Other

Some major findings of the bitumen market report include:

Demand is growing on account of increasing roadway building on account of maintenance in developed economies and massive urban expansion in developing economies across the globe.
Paving bitumen demand will be increasing in the Asia-Pacific, where the emerging economies are focusing on building roadways and repairing related complex structures.
The expansion of the urban population in the Asia-Pacific and Latin America will drive the demand.
Companies are actively investing in the development of PMB to lower its ill effects on the environment. Currently, Shell Bitumen had heavily invested in the development of a PMB plant at Stanlow near Ellesmere Port. The PMB market has grown hugely over the past five years.

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Paving grade is the most commonly used product, with a significant share of over 70% in the overall bitumen industry. The product type will retain this share on account of rapid road maintenance and construction activities all over the world, especially in the Asia-Pacific. Paving bitumen is mainly used in the production of hot mix asphalt for bases and wearing courses. Over 80% of resulting asphalt is used as a binder in asphalt concrete for road construction, making paving grade an indispensable product.

To achieve their economic goals, governments of emerging economies in the Asia-Pacific are focusing on strengthening their infrastructure and road network by building new roads and refurbishing existing ones. With an ever-increasing sum of vehicles over the globe, especially in the emerging economies of Asia-Pacific and Latin America, the requirement for road expansion will witness a notable rise in the coming years. It will mainly include countries such as China, Malaysia, India, Indonesia and Thailand, where the number of vehicles is increasing on account of rising urbanization and growing middle-class spending. As per Asia Development Bank, in the Asia-Pacific, China has the highest number of vehicles on the road, while Malaysia has higher quality roads. Additionally, China, India, Japan and South Korea have the highest density of roads per 1,000 sq km area, thereby projecting the substantial growth of the bitumen market over the forecast period to maintain this density at an optimum scale.

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Research for Markets

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Email: alan.naidu@researchformarkets.com

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This release was published on openPR.