A mixture of organic liquids that are black, sticky, soluble in carbon disulfide and highly viscous in nature usually obtained in petroleum refineries as a residual product after the removal of higher fractions like petrol, gas, diesel etc. is called bitumen. Bitumen possess adhesive properties and is mainly used in road construction and waterproofing. This lead the manufacturers to come out with advanced bitumen products. Bitumen is also used as a binder or glue, generally mixed with aggregate particles to form bitumen concrete. Increasing use of bitumen especially in road construction activities in various developing economies across the globe is creating vivid opportunities for the bitumen market.
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Currently, the world bitumen market is witnessing rapid growth due to advancements in technology of bitumen production along with increase in use of bitumen in road construction and renovation activities across the world. The world bitumen market is anticipated to exhibit substantial magnification during the forecast period, attributed to an increase in use of bitumen in waterproofing purposes, ceiling-binding and as adhesives in wood industry. Other factors driving the global bitumen market include growing application of bitumen in paints & coatings and inks & dyes etc. However, cement as an alternative of bitumen, especially in road construction is a key factor hampering the growth of the global bitumen market. Also, release of toxic gases after heating bitumen are also restraining the growth of the global bitumen market.
The report segments the world bitumen market on the basis of type, end-use industry and geography. Considering type, the market is segmented into paving grade bitumen, hard grade bitumen, oxidized grade bitumen, polymer modified bitumen and bitumen emulsions. On the basis of end-use industry, the global bitumen market is segmented into road construction, water proofing and others (paints & coatings, dyes, inks etc.). Geographic breakdown of the aforementioned segments includes North America, Europe, Asia-Pacific and LAMEA.
Advancements in the production technologies of bitumen such as polymer modified bitumen are projected to expand the overall market. Major market players including Indian Oil Corporation, Royal Dutch Shell PLC and British Petroleum are focusing on coming up with new, innovative and feasible technologies in the quality and type of bitumen. Furthermore, Gulf Petroleum acquired Royal Dutch Shell PLCs Gujrat plant to meet the ever growing demand for bitumen in India and its neighboring developing economies.
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Comprehensive competitive analysis and profiles of key market players including British Petroleum, Royal Dutch Shell PLC, Indian Oil Corporation, Exxon Mobil Corporation, Nynas AB, Marathon Oil Corporation, Nippon Oil Corporation, Villas Austria GmbH, Petroleos Mexicanos and Sinopec are provided in the report.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides an extensive analysis of the current and emerging market trends and opportunities in the global bitumen market.
- In-depth market analysis and forecasting of all possible segments are incorporated in the report.
- Geographically, the market is segmented into key regions including North America, Europe, Asia-Pacific and LAMEA.
- The report necessitates the detailed qualitative and quantitative analysis of current market estimations for the forecast period, 2014 2022, which assists in evaluating the prevailing market opportunities.
- Comprehensive analysis of factors that drive and restrict the growth of the global bitumen market is provided such as increasing road construction activities across the globe will drive the market though stringent government regulations on the use of bitumen can restrain the growth of the overall market.
- Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework
- The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth.
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This post was originally published on Trading Herald