Press release
Global Bitumen Market to reach US$93.38 bn Driven by Growing Rate of Use in Roadwork Construction :2020
Bitumen Market
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According to the report, the global bitumen market is primarily driven by the growing rate of use in construction of roadways around the world. The report states that there is a rapid increase in the rate of creation of roadways and other related activities, creating a high demand for the global bitumen market. Polymer modified bitumen, a type of bitumen, is highly preferred due to the advantages it provides, such as high porosity, high skid resistance, and low noise. All three properties are the most sought-after ones in the global roadways industry, giving PMB an advantage over other materials.
The global bitumen market’s growth rate is, however, restrained to a high degree by the environmental hazards created by the use of bitumen.The report segments the global bitumen market in terms of products and applications, and also provides a geographical dissection.By products, the global bitumen market was dominated by PMB in 2013. The segment held more than 65% of the market for that year and is expected to be the fastest-growing segment for the report’s forecast period. PMB is also used for waterproofing purposes.
The report states that more than 80% of the global bitumen market, from the perspective of applications, was dominated by road construction in 2013. Other applications of bitumen arise in automotive, adhesives, paints and enamels, and the roofing industries.From a geographical point of view, the global bitumen market was led by North America in 2013. North America took up over 30% of the global bitumen market in 2013, a market share attributed to expansion of state infrastructure. However, the report states that the fastest growth rate in the global bitumen market for its given forecast period will be held by the Asia Pacific region owing to rapid rate of industrialization.
Browse the full Global Bitumen Market (Paving Bitumen, Oxidized Bitumen, Cutback Bitumen, Bitumen Emulsion, Polymer Modified Bitumen and Others) for Roadways, Waterproofing, Adhesives, Insulation and Other Applications - Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020 report at http://www.transparencymarketresearch.com/bitumen-market.html
The key players of the global bitumen market are Villas Austria GmbH, Valero Energy Corporation, Shell Bitumen, Petroleos Mexicanos, Nynas AB, NuStar Energy, JX Nippon Oil & Energy Corporation, Marathon Oil Company, Indian Oil Corporation, ExxonMobil, China Petroleum and Chemical Corporation ChevronTexaco Corporation, British Petroleum, Bouygues S.A., and Bau Holding Vermögensverwaltung AG. The report states that the global bitumen market is highly competitive and fragmented due to the presence of a large number of regional players.
Key segments of the Global Bitumen Market
Bitumen Market – Product Segment Analysis
Paving grade bitumen
Oxidized bitumen
Cutback bitumen
Bitumen emulsion
Polymer Modified Bitumen (PMB)
Others (including bitumen formed due to addition of zinc, copper, etc.)
Bitumen Market – Application Analysis
Roadways
Hard grade
Soft grade
Polymer Modified Bitumen (PMB)
Waterproofing (Roofing)
Hard grade
Soft grade
Polymer Modified Bitumen (PMB)
Adhesive
Insulation
Others (including decorative and industrial applications)
Bitumen Market – Regional Analysis
North America
Europe
China
Asia Pacific (Excluding China)
Rest of World (RoW)
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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