Bituminous Paints Market - Global Industry Analysis 2020

Bituminous paints are paints containing high quantity of bitumen, a highly viscous, sticky and black colored liquid compound. Bitumen contains high quantity of hydrocarbons and is a petroleum product with tar like appearance. Bitumen is produced by fractional distillation of crude oil or crude oil based products. Crude oil is processed at a temperature generally between 300 to degree Celsius to 350 degree Celsius. Heated crude oil is then processed in a distillation column to separate light fractions of the oil by vaporization. The fractions with higher boiling point remaining in the distillation column are then processed in a vacuum distillation column. Vacuum distillation process leads to production of short residue which is then used to manufacture various grades of bituminous paints as per the end use.

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Application of bituminous paints include anti corrosive, protective coating, steel, wood, concrete, water proofing and timber among several others. Setting time for bituminous paints is dependent on the grade of the paint and generally varies from 6 hours to 24 hours. Bituminous paints were mainly used as waterproofing material for boats, with increasing research and development in the market the application of the paints have increased. Major end user industries for bituminous paints include construction, aviation, marine and furniture among others.

Bituminous paints are supplied as ready to use and generally do not require any thinner or external agents to be added to the paints before use. Application of bituminous paints on the desired surface is commonly done using simple paint brushes, spraying and other such easy traditional painting techniques. Therefore, bituminous paints are easy to use, which has been among foremost factors driving demand for bituminous paints. Bituminous paints are mainly used for commercial purposes such as machinery, water tanks, pipes, etc. Owing to which, demand for bituminous paints is profoundly dependent on the industrial investments in any region. Macroeconomic factors such as GDP growth is also among major growth drivers for bituminous paints market.

Major feedstock required for the production of bituminous paints includes crude oil and its derivatives. Volatile pricing of crude oil has led to obscure profitability forecast in the bituminous paints market which is a major factor restraining market growth for bituminous paints. Bituminous paints are hazardous to the environment and when released in water, pose severe threat to aquatic life. Furthermore, bituminous paints also cause several health hazards in humans including skin cracking, dizziness, etc. The health and environmental hazards associated with bituminous paints has led to surge in number of regulations to control the use of these paints which has been a major restraint for market growth. Increasing research and development activities to produce bituminous paints from bio based and renewable sources is anticipated to offer huge growth opportunity in the market.

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Among all the regions North America dominates the global bituminous paints market followed by Asia Pacific. APAC is the second largest market for bituminous paints owing to the factors such as increasing industrial investment in the emerging economies of India and China. Demand for bituminous paint in Europe is anticipated to grow at a sluggish rate owing to increasing number of environmental regulations in the region.

Some of the major players in the bituminous paints market include Juno Bitumix Pvt Ltd., Tianjin Haiyunda Metal Material Co., Ltd. and Hebei Tuohua Metal Products Co., Ltd. among others.

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