BITUMINOUS PAINTS MARKET ANALYSIS

The global bituminous paints market size is expected to witness a substantial rise in the coming future, and register a significant CAGR over the forecast period (2019 - 2027).

Market Overview

Bituminous paint is a combination of bitumen and white spirit, as well as viscous compounds and stabilizer additives. Bituminous paints are coatings that contain weatherproofing agents and provide protection from corrosion, water, vapour, UV rays, toxic chemicals, and rust. In addition to being durable, flexible, and vapour-proof, bituminous paint is highly economical. Bituminous paints contain high quantities of bitumen which has major application in road construction as a binding agent in the process of creating asphalt concrete, and also as a waterproofing agent. It can be obtained in natural deposits or through distillation of crude oil, in which components such as diesel and gasoline are removed, and bitumen is left behind.

Market Dynamics

Bituminous paints are alkaline resistant which makes them ideal for applications such as waterproofing, weather protecting steel coatings, under-water structures, portable water tanks, concrete, and wood. It is used for internal as well as external applications such as steel water pipes, fire escapes, railings and fences, gutters, ladders, and gates among others. Bituminous paint is also used for coating ferrous and non-ferrous metals, as well as for marine applications. Among industries, bituminous paints have the largest demand from the steel industry as they provide excellent cathodic protection to steel pipes, and the coating process is also fairly straightforward. These factors are expected to propel demand for bituminous paints over the forecast period.

Bituminous paints do not require any additional materials such as thinners and are available in the market in ready-for-use form. Bituminous paints can be applied with sprays, brushes, rollers, or using any traditional methods of application. As a result, its user friendly and easy to use properties have increased demand for bituminous paint in commercial applications, compared to its counterparts. Moreover, key players in the global bituminous coatings market are focused on research and development activities to improve their market share and expand their product offerings. This is projected to drive the market growth in the next few years.

It is worth noting, however, that bituminous paints have been found to contain solvents that can cause skin infections such as fattening of the skin, drying and cracking of the skin, and dermatitis. Moreover, contact with the skin can cause irritation and prolonged exposure to bituminous paints can induce dizziness, drowsiness, or loss of consciousness. Bituminous paints are also harmful for the aquatic life, and long term exposure can have adverse effects on the marine environment. These factors are likely to hamper demand for bituminous paints over the course of the next few years.

Market Outlook

North America is expected to account for the largest market share owing to increasing demand for bituminous paints from the U.S. market. Asia Pacific is expected to emerge as the second largest market owing to rapid industrialization and lax environmental regulations with respect to application of bituminous paints. The flourishing construction sector in some of the large economies in Asia Pacific is estimated to propel the market growth in the region. Fairly stringent guidelines and regulations implemented by environmental agencies in Europe regarding production and sale of bituminous paints is expected to result in a comparatively slower growth of the Europe bituminous paints market.

Key Players

Some of the key players operating on a global scale in the bituminous paints market are Tianjin Haiyunda Metal Material Co., Ltd., Juno Bitumix Pvt Ltd., Hebei Tuohua Metal Products Co., Ltd. among several others.