Dublin, Nov. 25, 2024 (GLOBE NEWSWIRE) — The “Bitumen Market Size, Share and Trends Analysis Report by Application (Roadways, Waterproofing, Adhesives, Insulation), Region (North America, Europe) 2024-2030” report has been added to ResearchAndMarkets.com’s offering.
The global bitumen market size is expected to reach USD 90.4 billion by 2030, registering a CAGR of 1.8%
Rise in infrastructure development in emerging economies including China, India, and Brazil has resulted in propelling demand for bitumen in the last few years. Road connectivity is among the most important features of any developed economy. This factor has resulted in product market growth on account of the growing need for roads in emerging economies.
Road widening and rebuilding existing assets including buildings and roads are some key areas where product need is expected to increase constantly. Rising demand from the construction sector has been influencing the growth of the product. The increasing need to provide cost-effective solutions for roofing applications is expected to influence the growth of the bitumen industry over the forecast period. Increasing need for waterproofing solutions across the globe is projected to propel growth.
Bitumen demand in roadways dominated the market and accounted for a 59.8% share in 2023. The intervention of various government policies such as FDI is expected to drive the Indian construction industry. The increasing trend of using paving techniques including micro-surfacing on heavy traffic roads is contributing towards PMB demand. This trend is supposed to continue over the forecast period.
Changing government requirements owing to environment regulations coupled with low-cost roofing solutions are major factors propelling demand for polymer-modified bitumen (PMB) in roofing applications. Excellent durability, water-resistance and ability to withstand extreme temperatures have resulted in increasing demand for PMB.
European bitumen market is expected to grow at a CAGR of 1.4% from 2024 to 2030 in terms of volume. Turkey is projected to be a key market for the product on account of increasing infrastructure spending by the government over the past few years. Asia Pacific is expected to be the fastest-growing market and is expected to witness gains at a CAGR of 3.4% from 2024 to 2030 in terms of volume. Government initiatives to construct roads to access rural areas is projected to propel the demand for bitumen over the forecast period.
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
The leading players in the Bitumen market include:
- Shell Bitumen
- NuStar Energy
- Exxon Mobil
- Marathon Oil Corporation
- Valero Energy Corporation
- Nynas AB
- Petroleos Mexicanos (PEMEX)
- Indian Oil Corporation
- Chevron Texaco Corporation
- Villas Austria GmbH
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 100 |
| Forecast Period | 2023 – 2030 |
| Estimated Market Value (USD) in 2023 | $77.6 Billion |
| Forecasted Market Value (USD) by 2030 | $90.4 Billion |
| Compound Annual Growth Rate | 1.8% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. Bitumen Market Variables, Trends, & Scope
3.1. Market Introduction/Lineage Outlook
3.2. Market Size and Growth Prospects (USD Million, Kilo Tons)
3.3. Market Dynamics
3.3.1. Market Drivers Analysis
3.3.2. Market Restraints Analysis
3.4. Bitumen Market Analysis Tools
3.4.1. Porter’s Analysis
3.4.2. PESTEL Analysis
Chapter 4. Bitumen Market: Application Estimates & Trend Analysis
4.1. Segment Dashboard
4.2. Bitumen Market: Technology Movement Analysis, 2023 & 2030 (USD Million)
4.3. Roadways
4.3.1. Roadways Market Revenue Estimates and Forecasts, 2018 – 2030 (USD Million) (Kilo Tons)
4.4. Waterproofing
4.5. Adhesives
4.6. Insulation
4.7. Others
Chapter 5. Bitumen Market: Regional Estimates & Trend Analysis
5.1. Bitumen Market Share, By Region, 2023 & 2030 (USD Million)
Chapter 6. Competitive Landscape
6.1. Recent Developments & Impact Analysis by Key Market Participants
6.2. Company Categorization
6.3. Company Heat Map Analysis
6.4. Company Profiles
6.4.1. Participant’s Overview
6.4.2. Financial Performance
6.4.3. Product Benchmarking
6.4.4. Recent Developments/ Strategic Initiatives
For more information about this report visit https://www.researchandmarkets.com/r/fu4cfc
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