Global Bitumen Market Analysis, Growth, Trends & Forecast 2018-2023 - ResearchAndMarkets.com
The "Global
Bitumen Market - Segmented by Product Type, Application, and Geography -
Growth, Trends and Forecast (2018 - 2023)" report has been
added to ResearchAndMarkets.com's offering.
The
bitumen market is expected to witness a CAGR of 4% during the forecast
period, 2018-2023.
Asphalt bitumen is widely used as the
binding organic material, which is made from the by-products of refined
crude oil. Asphalt bitumen is used in road construction as it is easy to
produce, reusable, non-toxic, and a strong binder. The road construction
sector has been witnessing a strong growth, which has been driving the
demand in the bitumen market. In Europe, the road building market is
expected to have a strong growth up to 2019.
By application,
road construction is expected to dominate the market demand for bitumen.
Recently, China has come up with China's Belt and Road Initiative, which
aims to connect Asia, Europe, and the Middle East & Africa with a vast
logistics and transport network, using roads, airports, railway tracks,
ports, pipelines, transnational electric grids, and even fiber optic
lines.
Asia-Pacific is projected to dominate the bitumen
market, owing to the booming construction industry and increasing public
infrastructure projects in the region. India in its 2018 budget,
allotted INR 21,453.42 crore out of INR 71,000 crore budgetary
allocation to the Highways Ministry for work under the road wing. It
includes expenditure on development of National Highways, including
projects relating to expressways, two-laning of highways, under the
National Highways Development Project, six-laning of crowded stretches
of the Golden Quadrilateral, a special programme for the development of
road connectivity in Naxal affected areas, development of
VijaywadaRanchi road, and for providing last mile connectivity. In
February 2018, Philippines and Japan signed a YEN 9.4 billion loan for
the construction of the third phase of a road project in Bulacan.
Companies
Mentioned
-
Bouygues S.A.
-
British Petroleum
-
China Petroleum and Chemical Corporation
-
Exxon Mobil Corporation
-
Icopal Group
-
Indian Oil Corporation
-
JX Nippon Oil & Energy Corporation
-
Kraton Corporation
-
Marathon Oil Company
-
NuStar Energy
-
Nynas AB
-
Petroleos Mexicanos
-
Shell Bitumen
-
Suncor Energy Inc.
Key Topics Covered:
1. Introduction
2.
Executive Summary
3. Market Insights
4. Market
Dynamics
5. Market Segmentation and Analysis
6.
Regional Market Analysis
7. Competitive Landscape
8.
Company Profiles
9. Future of the Market
10.
Disclaimer
For more information about this report visit https://www.researchandmarkets.com/research/z3s3gx/global_bitumen?w=4
View source version on businesswire.com: https://www.businesswire.com/news/home/20180528005093/en/
Copyright Business Wire 2018
Source: Business Wire
(May 28, 2018 - 6:10 AM EDT)
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