BITUMEN MARKET ANALYSIS
Key Takeaways from Analyst
The market growth is driven by growing infrastructure development activities across both developed and developing regions. Bitumen finds major application in road construction as it provides strength and durability to roads and highways. North America is expected to fastest growing in this market.
However, stringent environmental regulations around the world regarding emission control may act as a restraint for the market. Many countries are promoting the use of recycled and modified bitumen to reduce emission levels from road construction
Asia Pacific region currently dominates the global bitumen market and is expected to continue its dominance. India, China, and Southeast Asian countries are witnessing tremendous road construction projects which will boost demand. Rapid expansion of road networks to support economic growth in these countries presents lucrative opportunities for bitumen producers.
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