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Bitumen Market to Reach 173.08 Million Tons by 2030 with 6.00% CAGR, Top Key Players BP plc, Shell plc, TotalEnergies | Mordor Intelligence
Bitumen Market
Bitumen Market Outlook
The global bitumen market is projected to grow steadily, reaching a volume of 173.08 million tons by 2030, up from 133.95 million tons in 2025. This growth reflects a compound annual growth rate (CAGR) of 5.26% over the forecast periodMordor Intelligence. Bitumen, a key material derived from crude oil, continues to play a vital role in infrastructure development, especially in road construction and roofing applications.
As urbanization expands and governments invest in transportation networks, the demand for bitumen-based products is expected to remain strong. The market's resilience is also supported by its diverse applications, including waterproofing, adhesives, and sealants. Asia-Pacific leads both in consumption and production, with countries like China and India ramping up infrastructure spending.
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Key Trends in the Bitumen Industry
Road Construction Remains the Largest Application Segment
Bitumen's primary use in road paving and maintenance continues to dominate the market. Governments across regions are allocating significant budgets to highway expansion, rural connectivity, and urban mobility projects. In developing economies, road infrastructure is a priority, and bitumen remains the preferred binder due to its cost-effectiveness and durability.
Roofing and Waterproofing Applications Gain Traction
Bitumen's waterproofing properties make it a reliable choice for roofing membranes and below-grade insulation. The construction sector's growth, particularly in residential and commercial buildings, is boosting demand for bitumen emulsions and polymer-modified bitumen in roofing applications.
Asia-Pacific Leads Global Consumption
Asia-Pacific is both the largest and fastest-growing regional market for bitumen. Rapid urban development, population growth, and infrastructure investments in countries like China, India, and Indonesia are driving consumption. The region's dominance is expected to continue through 2030, supported by favorable government policies and rising construction activityMordor Intelligence.
Shift Toward Polymer-Modified Bitumen
Polymer-modified bitumen (PMB) is gaining popularity due to its enhanced performance characteristics. PMB offers better resistance to deformation, cracking, and aging, making it suitable for high-traffic roads and extreme weather conditions. This segment is expected to grow faster than traditional grades.
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Bitumen Market Segmentation: Product Types and Applications
By Product Type:
* Penetration Grade Bitumen: Widely used in road construction due to its viscosity and binding properties.
* Oxidized Grade Bitumen: Preferred for roofing and industrial applications.
* Bitumen Emulsions: Used in surface treatments and maintenance of roads.
* Polymer-Modified Bitumen (PMB): Offers improved elasticity and durability.
* Other Products: Includes cutback bitumen and specialty grades.
By Application:
* Road Construction: The largest segment, driven by global infrastructure projects.
* Roofing: Increasing demand from residential and commercial construction.
* Adhesives and Sealants: Used in industrial and household applications.
* Other Uses: Includes canal lining, coating, and waterproofing.
By Geography:
* Asia-Pacific: Largest and fastest-growing region.
* North America: Mature market with steady demand.
* Europe: Focused on sustainable infrastructure.
* South America: Emerging opportunities in urban development.
* Middle East & Africa: Investments in transport and housing sectors.
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Key Players in the Bitumen Market
The global bitumen market is moderately fragmented, with several regional and international players competing across product segments.
* BP p.l.c.
* Shell plc
* TotalEnergies
* China Petroleum and Chemical Corporation (Sinopec)
* Exxon Mobil Corporation
These companies operate across multiple geographies and offer a wide range of bitumen grades tailored to specific applications. Strategic partnerships with construction firms and government agencies help them maintain market relevance.
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Conclusion: Bitumen Market Poised for Steady Growth
The bitumen market is set to grow at a healthy pace through 2030, driven by consistent demand from road construction and roofing sectors. With a projected volume of 173.08 million tons by the end of the forecast period, the market reflects strong fundamentals and broad application diversity
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About Mordor Intelligence:
Mordor Intelligence is a trusted partner for businesses seeking comprehensive and actionable market intelligence. Our global reach, expert team, and tailored solutions empower organizations and individuals to make informed decisions, navigate complex markets, and achieve their strategic goals. With a team of over 550 domain experts and on-ground specialists spanning 150+ countries, Mordor Intelligence possesses a unique understanding of the global business landscape. This expertise translates into comprehensive syndicated and custom research reports covering a wide spectrum of industries, including aerospace & defense, agriculture, animal nutrition and wellness, automation, automotive, chemicals & materials, consumer goods & services, electronics, energy & power, financial services, food & beverages, healthcare, hospitality & tourism, information & communications technology, investment opportunities, and logistics.
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