October 8, 2019 - 12:05 PM EDT
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Global Bitumen Market, By Product Grade, By Application, By Region, Competition, Forecast & Opportunities, 2024

Global Bitumen Market, By Product Grade (Paving Grade, Industrial & Polymer Modified), By Application (Paving, Roofing & Others), By Region, Competition, Forecast & Opportunities, 2024

New York, Oct. 08, 2019 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Bitumen Market, By Product Grade, By Application, By Region, Competition, Forecast & Opportunities, 2024" - https://www.reportlinker.com/p05820720/?utm_source=GNW

Global bitumen market was valued at over $ 44.7 billion in 2018 and is poised to grow at CAGR of over 6% during forecast period. Growth of the market is led by increasing investments by the governments of different economies for the maintenance & repair and construction of roads. Roads made with bitumen have high viscosity, stickiness and water resistance, which is stimulating its adoption for road construction. Additionally, hydrocarbon mixture due to its water proofing properties, also finds application in water tank manufacturing, tennis courts, runways and barn floors, among others. However, release of toxic gases due to the heating of bitumen and cement as an alternative for bitumen for the construction, is impeding the growth of the market.

Global bitumen market can be segmented based on product grade, application and region.In terms of product grade, the market can be segmented into paving, industrial and polymer modified.

Of all, paving product grade dominates global bitumen market and the trend is likely to maintain its dominance during forecast period as well.However, polymer modified segment is anticipated to witness the fastest CAGR during forecast period due to its growing usage in industrial applications and road surfacing.

Addition of polymers to the bitumen enhances the resistance to deformation of the mixture, which is further anticipated to promote the growth of this segment over the coming years.

Regionally, the market for bitumen is gaining traction and expanding to various regions including Asia-Pacific, Europe, North America, South America and Middle East & Africa.Among these regions, Asia-Pacific dominates the market on account of rising demand for expanding land connectivity in economies such as China, India, Japan, among others.

Moreover, increasing population, high standard of living and high vehicle ownership in the region, which is resulting in surge in traffic, is leading to the construction of new flyovers and roads, thereby further driving demand for bitumen in the region.

Major players operating in global bitumen market include China National Petroleum Corporation (CNPC), Indian Oil Corporation Limited (IOCL), Total S.A., Exxon Mobil Corporation, Royal Dutch Shell Plc, Sinopec, Valero Energy Corporation, Bouygues S.A., NuStar Energy L.P., Villas Austria GmbH, Marathon Oil Corporation, Nynas AB, Kraton Corporation, etc., are some of the leading players operating in global bitumen market. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.

Years considered for this report:

Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020–2024

Objective of the Study:

• To analyze and forecast the market size of global bitumen market.
• To classify and forecast global bitumen market based on product grade, application and regional distribution.
• To identify drivers and challenges for global bitumen market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global bitumen market.
• To conduct pricing analysis for global bitumen market.
• To identify and analyze the profile of leading players operating in global bitumen market.
Some of the leading players in global bitumen market are China National Petroleum Corporation (CNPC), Indian Oil Corporation Limited (IOCL), Total S.A., Exxon Mobil Corporation, Royal Dutch Shell Plc, Sinopec, Valero Energy Corporation, Bouygues S.A., NuStar Energy L.P., Villas Austria GmbH, Marathon Oil Corporation, Nynas AB, Kraton Corporation, etc.

The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers across the globe.

Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.

Through this technique, the analyst could include the manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the manufacturers, distribution channels and presence of all major players across the globe.
The analyst calculated the market size of global bitumen market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.

Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.

Key Target Audience:

• Road construction and repair companies
• Research organizations and consulting companies
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to Bitumen
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, global bitumen market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Market, By Product Grade:
o Paving
o Industrial
o Polymer Modified
• Market, By Application:
o Paving
o Roofing
o Others
• Market, By Region:
o Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Indonesia
o Europe
- Russia
- France
- Germany
- United Kingdom
- Italy
o North America
- United States
- Canada
- Mexico
o South America
- Brazil
- Venezuela
- Argentina
o Middle East & Africa
- Saudi Arabia
- South Africa
- UAE
- Qatar

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global bitumen market.

Available Customizations:

With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p05820720/?utm_source=GNW

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Source: GlobeNewswire PR (October 8, 2019 - 12:05 PM EDT)

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