SELBYVILLE, Del., Dec. 3, 2019 /PRNewswire/ -- The global Bitumen
Market is projected to cross USD $116
billion by 2026, as reported in the latest study by Global
Market Insights, Inc. The growing focus on building new
infrastructure, along with renovating present structures across the
globe, will lead the bitumen demand.
Bitumen is an essential component used in asphalt-based pavement
construction, such as roads, bridges, highways, and railways. It
has exceptional characteristics including high adhesion,
elasticity, hydrophobicity, hardness etc. Most importantly, such
roads can be constructed while keeping in mind the regional climate
and expected wear and tear from vehicle loads.
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at https://www.gminsights.com/request-sample/detail/1100
Bitumen is distilled from crude oil. Its composition makes it a
harmful substance with regards to the surrounding environment,
especially asphalt fumes during construction. Thus, the prevailing
environmental impact of its production and application process may
hamper business growth by 2026. However, the growing demand for PMB
is gaining traction in the market, thereby indicating a lower
threat to the environment.
Some major findings of the bitumen market report
include:
- Demand is growing on account of increasing roadway building on
account of maintenance in developed economies and massive urban
expansion in developing economies across the globe.
- Paving bitumen demand will be increasing in the Asia-Pacific, where the emerging economies are
focusing on building roadways and repairing related complex
structures.
- The expansion of the urban population in the Asia-Pacific and Latin America will drive the demand.
- Major players operating in the bitumen market are Exxon Mobil
Corporation, China Petroleum and Chemical Corporation, Royal Dutch Shell, JX Nippon Oil & Energy
Corporation, Total S.A., Suncor Energy, Petroleos Mexicanos, Nynas
AB and others.
- Companies are actively investing in the development of PMB to
lower its ill effects on the environment. Currently, Shell Bitumen
had heavily invested in the development of a PMB plant at Stanlow
near Ellesmere Port. The PMB market has grown hugely over the past
five years.
Browse key industry insights spread across 354 pages with 462
market data tables and 31 figures and charts from the
report, "Bitumen Market Share By Product (Paving,
Oxidized, Cutback, Emulsion, Polymer Modified), By Application
(Roadways, Waterproofing, Adhesives, Insulation), Industry Analysis
Report, Growth Potential, Price Trends, Competitive Market Share
& Forecast, 2019 – 2026," in detail, along with the
table of contents:
https://www.gminsights.com/industry-analysis/bitumen-market
Paving grade is the most commonly used product, with a
significant share of over 70% in the overall bitumen industry. The
product type will retain this share on account of rapid road
maintenance and construction activities all over the world,
especially in the Asia-Pacific.
Paving bitumen is mainly used in the production of hot mix asphalt
for bases and wearing courses. Over 80% of resulting asphalt
is used as a binder in asphalt concrete for road construction,
making paving grade an indispensable product.
To achieve their economic goals, governments of emerging
economies in the Asia-Pacific are
focusing on strengthening their infrastructure and road network by
building new roads and refurbishing existing ones. With an
ever-increasing sum of vehicles over the globe, especially in the
emerging economies of Asia-Pacific
and Latin America, the requirement
for road expansion will witness a notable rise in the coming years.
It will mainly include countries such as China, Malaysia, India, Indonesia and Thailand, where the number of vehicles is
increasing on account of rising urbanization and growing
middle-class spending. As per Asia Development Bank, in the
Asia-Pacific, China has the highest number of vehicles on
the road, while Malaysia has
higher quality roads. Additionally, China, India,
Japan and South Korea have the highest density of roads
per 1,000 sq km area, thereby projecting the substantial growth of
the bitumen market over the forecast period to maintain this
density at an optimum scale.
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at https://www.gminsights.com/inquiry-before-buying/1100
Browse Related Reports:
Bitumen Emulsifiers Market Share 2024: Based on products,
the global bitumen emulsifiers industry has been categorized into
cationic, non-ionic and anionic types. Non-ionic bitumen
emulsifiers are mixed in asphalt emulsions, where the bitumen
droplets are neutral in charge and, consequently, will not migrate
to either of the poles. Water-soluble, polar chemicals such as
highly ethoxylated nonylphenol are used to prepare
nonionic emulsions. Major bitumen emulsifier manufacturers include
Arkema, AkzoNobel, Opal Paints Products, Industrial Oleochemical
Products, Kao Corporation, Petrochem Specialties, Ingevity, The Dow
Chemical Company, Chemoran, Evonik, RX Marine International, Vizag
Chemicals, Pinova, etc.
https://www.gminsights.com/industry-analysis/bitumen-emulsifiers-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research
and consulting service provider, offering syndicated and custom
research reports along with growth consulting services. Our
business intelligence and industry research reports offer clients
with penetrative insights and actionable market data specially
designed and presented to aid strategic decision making. These
exhaustive reports are designed via a proprietary research
methodology and are available for key industries such as chemicals,
advanced materials, technology, renewable energy and
biotechnology.
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll-Free: 1-888-689-0688
Email: sales@gminsights.com
Related Images
bitumen-industry-forecasts-2026.jpg
Bitumen Industry Forecasts 2026
Bitumen Market revenue is expected to register around a 4% CAGR up
to 2026, propelled by the growing utilization of bitumen in
industrial roofing applications.
Related Links
Bitumen Membranes Market
Polymer Modified Bitumen (PMB) Market
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SOURCE Global Market Insights Inc.