[Latest News 2023] Bitumen Industry Size and Research Report by 2029 | Road Construction Drives Growth in Bitumen Market for Durable and Long-lasting Roads

[Latast Business Report] Global "Bitumen Market" [2023-2030] provides invaluable insights into the market conditions, growth determinants, and competition analysis through an in-depth Analysis of the industry. The growth of the segments allows for precise estimates and forecasts of sales by Type and by Application in terms of volume and value for the years 2023 through 2030. You can grow your firm by focusing on suitable niche markets with the aid of this investigation.

Bitumen is a sticky, black, and highly viscous liquid or semi-solid material that is derived from petroleum and is used in various applications such as road construction, roofing, and waterproofing. The global bitumen market is expected to witness strong growth in the coming years, driven by the increasing demand for infrastructure development and the growth of the transportation sector.

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Who is the Largest Manufacturer of Bitumen Worldwide?
Asphalt & Bitumen West Co. (Tehran, Iran), Raha Bitumen (Esfahan, Iran), Asia Bitumen (Tehran, Iran), Exxon Mobil (Texas, U.S.), Royal Dutch Shell (Hague, Netherlands), Sinopec (Beijing, China), Nynas (Stockholm, Sweden), GOIL Ltd (Accra, Ghana), Total Energies (Courbevoie, France), Gazprom Neft (St. Petersburg, Russia), Indian Oil Corporation (New Delhi, India), and Others

Market Analysis and Insights:
Market Overview of the Global Bitumen Market:

According to our latest research, the global Bitumen market looks promising in the next 5 years. The global bitumen market is projected to grow from USD 51.69 billion in 2021 to USD 67.14 billion in 2028 at a CAGR of 3.8% during the 2021-2028 period.

This report covers a research time span from 2018 to 2030, and presents a deep and comprehensive analysis of the global Bitumen market, with a systematical description of the status and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application, and by region.

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Global Bitumen Market: Competitive Landscape
The market analysis entails a section solely dedicated to major players in the global Bitumen market wherein our analysts provide an insight into the financial statements of all the major players along with their key developments product benchmarking and SWOT analysis. The company profile section also includes a business overview and financial information. The companies that are provided in this section can be customized according to the client's requirements.

The Bitumen market growth is anticipated to rise at a considerable rate during the forecast period, between 2023 and 2030. In 2023, the market was growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon. Bitumen Market Forecast by regions, type and application, with sales and Revenue, from 2023 to 2030.

Bitumen Market Report also mentions the market share accrued by each product in the market, along with the production growth. Bitumen Market Trends for Development and marketing channels are analyzed. Finally, the feasibility of new investment projects is assessed and overall research conclusions are offered. Bitumen Market Analysis Report focuses on Market key trends and Market Segmentation (Types, Applications), and all the regions.

Growth Drivers:

One of the key drivers of the bitumen market is the increasing demand for road construction materials. Bitumen is widely used in road construction as a binder in asphalt concrete, enhancing the durability and longevity of the road surface. With the increasing demand for infrastructure development in emerging economies and the need for maintenance and repair of existing roads in developed economies, the demand for bitumen in the road construction industry is expected to increase significantly in the coming years.

The roofing industry is another significant end-user of bitumen. Bitumen is used as a waterproofing material in roofing applications, providing protection against weathering and moisture. With the increasing demand for energy-efficient and sustainable roofing materials, the demand for bitumen in the roofing industry is expected to increase in the coming years.

The waterproofing industry is also a major end-user of bitumen. Bitumen is used as a waterproofing material in various applications such as foundations, basements, and tunnels, providing protection against water ingress and moisture. With the increasing demand for sustainable and durablewaterproofing materials in construction and infrastructure projects, the demand for bitumen in the waterproofing industry is expected to increase in the coming years.

The transportation sector is another potential end-user of bitumen. Bitumen is used in the production of asphalt for airport runways and taxiways, providing durable and high-performance surfaces for aircraft operations. With the increasing demand for air travel and the expansion of airport infrastructure, the demand for bitumen in the transportation sector is expected to increase in the coming years.

Key Takeaways from the Global Bitumen Market Report:
Market Size Estimates: Bitumen market size estimation in terms of value and sales volume from 2018-2030
Market Trends and Dynamics: Bitumen market drivers, opportunities, challenges, and risks
Macro-economy and Regional Conflict: Influence of global inflation and Russia and Ukraine War on the Bitumen Industry
Segment Market Analysis: Bitumen industry value and sales volume by type and by application from 2018-2030
Regional Market Analysis: Bitumen market situations and prospects in North America, Asia Pacific, Europe, Latin America, Middle East, Africa
Country-level Studies on the Bitumen Market: Revenue and sales volume of Major Countries in Each Region
Bitumen Market Competitive Landscape and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product profile, application, etc.
Trade Flow: Import and export volume of the Bitumen market in major regions.
Bitumen Industry Value Chain: Bitumen market raw materials and suppliers, manufacturing process, distributors, downstream customers
Bitumen Industry News, Policies and Regulations
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Client Focus:
Does this report consider the impact of COVID-19 and the Russia-Ukraine war on the Bitumen market?

Yes. As COVID-19 and the Russia-Ukraine war are profoundly affecting the global supply chain relationship and raw material price system, we have definitely taken them into consideration throughout the research, we elaborate at full length on the impact of the pandemic and the war on the Bitumen Industry.

How do you determine the list of the key players included in the report?

With the aim of clearly revealing the competitive situation of the industry, we concretely analyze not only the leading enterprises that have a voice on a global scale but also the regional small and medium-sized companies that play key roles and have plenty of potential growth.

What are your main data sources?

Both Primary and Secondary data sources are being used while compiling the report.

Primary sources include extensive interviews of key opinion leaders and industry experts (such as experienced front-line staff, directors, CEOs, and marketing executives), downstream distributors, as well as end-users.

Secondary sources include the research of the annual and financial reports of the top companies, public files, new journals, etc. We also cooperate with some third-party databases.

Can I modify the scope of the report and customize it to suit my requirements?

Yes. Customized requirements of multi-dimensional, deep-level, and high-quality can help our customers precisely grasp market opportunities, effortlessly confront market challenges, properly formulate market strategies and act promptly, thus winning them sufficient time and space for market competition.

In conclusion, the bitumen market is expected to witness strong growth in the coming years, driven by the increasing demand for infrastructure development and the growth of the transportation sector. The road construction, roofing, waterproofing, and transportation industries are some of the major end-users of bitumen. With the increasing demand for sustainable and durable materials in these industries, the demand for bitumen is expected to increase significantly in the coming years. North America and Europe are currently the largest markets for bitumen, while the Asia Pacific region presents a promising opportunity for manufacturers and investors in the coming years. Overall, the bitumen market offers significant growth potential, as new applications andtechnologies continue to emerge, and the demand for infrastructure development continues to increase.

Detailed TOC of Global Bitumen Market Research Report, 2023-2030
1 Market Overview
1.1 Product Overview and Scope of Bitumen
1.2 Classification of Bitumen by Type
1.2.1 Overview: Global Bitumen Market Size by Type: 2017 Versus 2021 Versus 2030
1.2.2 Global Bitumen Revenue Market Share by Type in 2021
1.3 Global Bitumen Market by Application
1.3.1 Overview: Global Bitumen Market Size by Application: 2017 Versus 2021 Versus 2030
1.4 Global Bitumen Market Size and Forecast
1.5 Global Bitumen Market Size and Forecast by Region
1.6 Market Drivers, Restraints, and Trends
1.6.1 Bitumen Market Drivers
1.6.2 Bitumen Market Restraints
1.6.3 Bitumen Trends Analysis

2 Company Profiles
2.1 Company
2.1.1 Company Details
2.1.2 Company Major Business
2.1.3 Company Bitumen Product and Solutions
2.1.4 Company Bitumen Revenue, Gross Margin, and Market Share (2019, 2020, 2021, and 2023)
2.1.5 Company Recent Developments and Future Plans

3 Market Competition, by Players
3.1 Global Bitumen Revenue and Share by Players (2019,2020,2021, and 2023)
3.2 Market Concentration Rate
3.2.1 Top3 Bitumen Players Market Share in 2021
3.2.2 Top 10 Bitumen Players Market Share in 2021
3.2.3 Market Competition Trend
3.3 Bitumen Players Head Office, Products and Services Provided
3.4 Bitumen Mergers and Acquisitions
3.5 Bitumen New Entrants and Expansion Plans

4 Market Size Segment by Type
4.1 Global Bitumen Revenue and Market Share by Type (2017-2023)
4.2 Global Bitumen Market Forecast by Type (2023-2030)

5 Market Size Segment by Application
5.1 Global Bitumen Revenue Market Share by Application (2017-2023)
5.2 Global Bitumen Market Forecast by Application (2023-2030)

6 Regions by Country, by Type, and by Application
6.1 Bitumen Revenue by Type (2017-2030)
6.2 Bitumen Revenue by Application (2017-2030)
6.3 Bitumen Market Size by Country
6.3.1 Bitumen Revenue by Country (2017-2030)
6.3.2 United States Bitumen Market Size and Forecast (2017-2030)
6.3.3 Canada Bitumen Market Size and Forecast (2017-2030)
6.3.4 Mexico Bitumen Market Size and Forecast (2017-2030)

7 Research Findings and Conclusion

8 Appendix
8.1 Methodology
8.2 Research Process and Data Source
8.3 Disclaimer

9 Research Methodology

10 Conclusion

Continued…

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