BITUMEN MARKET ANALYSIS

Bitumen Market, By Product Type (Paving Grade Bitumen, Oxidized Bitumen, Cutback Bitumen, Bitumen Emulsions, Natural Bitumen (Gil Sonite), and Others), By Application (Roadways, Waterproofing, Adhesives, Insulation, and Others), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Published In : Nov 2024
Code : CMI3308
Pages :134
Formats :
Excel and PDF
Industry : Bulk Chemicals

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.