Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Global bitumen market 2017–2027

Bitumen is also referred to as asphalt compound that is obtained through distillation of crude oil that removes the lighter crude oil components such as diesel and gasoline, the heavier bitumen is left behind. Bitumen is consist of complex hydrocarbons and other compounds such as sulfur, calcium, iron, and oxygen. It is widely used as building materials and find application across construction and other industries. This material is mostly used in the road paving application as most of the roads are made up of bitumen or a mixture of bitumen and aggregates, this includes concrete.

The global bitumen market is estimated to account for approximately US$ 121 Billion in terms of revenue volume by the end of 2027, growing at a CAGR of 5.2% during the forecast period (2019-2027)

Drivers

Rising demand for bitumen as an additive across solvents and black paints application as it helps to enhance the efficiency of the paints and coatings by providing improved viscosity to waterproofing agents. Rising usage of chemically prepared bitumen as an additive across the various industrial application is projected to fuel the market growth of the bitumen. Moreover, bitumen also have better adhesion property when combining with organic amides and amines, which is fueling its demand across various industries, thereby augmenting market growth of bitumen.

Rising demand for bitumen as adhesives across various applications such as glass and ceramic industry where strong adhesion is required is driving the market growth of bitumen. Bitumen as adhesives is also used across the construction industry owing to its highly viscous nature and less setting time. Therefore, the rising use of bitumen as adhesive across waterproofing, pipelines, flooring, and water tanks is expected to propel the market growth of the bitumen.

Asia-Pacific region dominated the global bitumen market in 2018, accounting for 31% market share in terms of revenue, followed by North America and Europe, respectively. The bitumen market is anticipated to grow substantially in Asia-Pacific region during the forecast period (2019-2027), owing to the surge in population and urbanization in emerging economies.

Figure 1. Global Bitumen Market, Revenue Share (%), By Region, 2018

Bitumen  | Coherent Market Insights

Market Restraints

Production of bitumen from oil sands requires 2-4 barrels of fresh water in order to extract 1 barrel of bitumen or synthetic crude oil which is projected to curb the market growth of bitumen. Moreover, bitumen with impurities used in road pavement can cause soil pollution and bitumen pavement has low tensile strength as compared to concrete pavement. This factor is expected to restrict the market growth.

Increasing adoption of the alternate of the bitumen such as concrete roads and pavements due to their high tensile strength and other advantage is expected to negatively impact the market growth of bitumen. For instance, according to the Coherent Market Insights, in September 2013, the Indian government decided to abandon bitumen in road construction projects, especially for national highways to increase the life of roads and in turn decided to opt for cement in road construction.

Market Opportunities

Rising usage of bitumen in printing inks to provide dark and long-lasting inks is projected to fuel the market growth over the forecast period. Bitumen is mixed with the printing inks to attain dark and black colored oil which is mainly found in cheap black printing ink. Hence, rising application of bitumen in printing inks is expected to foster the market growth of the bitumen over the forecast timeframe.

Increasing application of bitumen in anti-corrosive paints such as waterproofing of boats & ships and terraces is expected to offer lucrative growth opportunities over the forecast period. Moreover, bitumen paints are also used in protective coatings, wood, steel, concrete, timber, and others. Hence, rising demand for anti-corrosive paints from end-use industries such as furniture, marine, aviation, and construction is expected to fuel the market growth of bitumen.  

Figure 2. Global Bitumen – Market Opportunity Analysis

Bitumen  | Coherent Market Insights

On the basis of product type, in 2018, paving grade accounted the largest market share of 57% in terms of revenue, followed by oxidized grade and bitumen emulsion. The demand for paving grade bitumen is expected to rise in forthcoming years due to increase in its usage for making pathways, railway beds as well as in road maintenance.

Figure 3. Global Bitumen Market, Revenue Share (%), By Product Type, in 2018

Bitumen  | Coherent Market Insights

Key Takeaways

The increasing trend of launch of innovation in bitumen product by major players is expected to augment the market growth of the bitumen. For instance, in March 2019, Shell has introduced a new bitumen product that can help reduce the impact of asphalt production and paving on local air quality. Shell Bitumen FreshAir has been shown to help reduce emissions of specific gases and particulates from asphalt mixtures during production and paving by an average of 40% when compared to conventional bitumen.

Rising investment for the production of bitumen by major players in order to meet the rising demand is expected to hinder the market growth of the bitumen over the forecast period. For instance, in September 2018, Gulf Petrochem Group has committed to invest close to US$ 508 million for setting up a bitumen refinery in Gujarat for A Sharjah-based oil Production Company. Hence, rising such investment by major players is expected to propel the market growth.

Figure 4. Global bitumen market–Value Chain Analysis

Bitumen  | Coherent Market Insights

Competitive Section

Players active in the market are Exxon Mobil Corporation, Total S.A., Indian Oil Corporation Ltd., Royal Dutch Shell Plc., Marathon Oil Corporation, Calumet Specialty Product Partners Ltd L.P, Chevron Texaco Corporation, and Nynas AB 

Few Recent Developments

ExxonMobil Corporation

  • In June 2015, ExxonMobil Corporation increased production capacity of bitumen from 110,000 barrels per day to 220,000 barrels per day at its Kearl Oil Sands Project, Canada

Total S.A.

  • In February 2016, Total S.A. started oil production at the Laggan-Tormore in the west of Shetland. The new production facility is expected to produce 90,000 barrels of oil equivalent per day.

Royal Dutch Shell plc.

  • In July 2015, Royal Dutch Shell plc. received the Global Road Achievement Award by International Road Federation for its bitumen odor-neutralizing product, Bitufresh
  • In November 2015, the company invested US$ 8 Million in its bitumen refineries in Rheinland (Germany) and Pernis (Netherlands) to increase bitumen production in the region

Bitumen is a highly viscous organic liquid which is derived from the residual products of the petroleum refineries.Due to its binding properties and bitumen is primarily utilized for road construction and repairs. In recent few years, Bitumen witnessed an expansion of its applications, for instance, it is used as a binder for waterproofing purpose in ships and terraces as well as a mixing agent for printing inks, paints and protective coatings.

Market Dynamics

On the basis of region, Asia-Pacific has witness a surge in demand for bitumen products for producing asphalt, which is then utilized for road construction & maintenance, owing to the expansion in infrastructure activities, rapid urbanization, emerging consumer goods industry in the region and rising demand for efficient transportation facilities.

Manufacturers are now focused on various developments in production technology of innovative bitumen products. Different materials such as rubber polymers, thermosetting and thermoplastic polymers are being added to bitumen, mechanically or chemically, to enhance its elasticity and strength. These innovations are expected to propel the bitumen market in forthcoming years.

Key features of the study:

  • This report provides in-depth analysis of Global Bitumen market size ( US$ Billion and Kilo Tons), and Compound Annual Growth Rate (CAGR %) for the forecast period (2019 – 2027), considering 2018 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights into market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by the leading players
  • It profiles leading players in the global bitumen market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study includes are Exxon Mobil Corporation, Total S.A., Indian Oil Corporation Ltd., Royal Dutch Shell Plc., Marathon Oil Corporation, Calumet Specialty Product Partners Ltd L.P, Chevron Texaco Corporation, and Nynas AB
  • Insights from this report would allow marketers and the management authorities of companies to make informed decision regarding their future product launches, technology up-gradation, market expansion, and marketing tactics
  • The Global Bitumen market report caters to various stakeholders in this industry including investors, suppliers, Global Bitumen manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analysing the Global Bitumen market

Detailed Segmentation:

  • Global Bitumen market, By Product type :
    • Paving Grade
    • Hard Grade
    • Oxidized Grade
    • Bitumen Emulsion
    • Polymer Modified
  • Global Bitumen market, By End User:
    • Road Construction
    • Waterproofing
    • Others
  • Global Bitumen market, By Region:
    • North America
      • U.S.
        • By Product type
          • Paving Grade
          • Hard Grade
          • Oxidized Grade
          • Bitumen Emulsion
          • Polymer Modified
        • By End User
          • Road Construction
          • Waterproofing
          • Others
      • Canada
        • By Product type
          • Paving Grade
          • Hard Grade
          • Oxidized Grade
          • Bitumen Emulsion
          • Polymer Modified
        • By End User
          • Road Construction
          • Waterproofing
          • Others
    • Latin America
      • Brazil
        • By Product type
          • Paving Grade
          • Hard Grade
          • Oxidized Grade
          • Bitumen Emulsion
          • Polymer Modified
        • By End User
          • Road Construction
          • Waterproofing
          • Others
      • Mexico
        • By Product type
          • Paving Grade
          • Hard Grade
          • Oxidized Grade
          • Bitumen Emulsion
          • Polymer Modified
        • By End User
          • Road Construction
          • Waterproofing
          • Others
      • Argentina
        • By Product type
          • Paving Grade
          • Hard Grade
          • Oxidized Grade
          • Bitumen Emulsion
          • Polymer Modified
        • By End User
          • Road Construction
          • Waterproofing
          • Others
      • Rest of Latin America
        • By Product type
          • Paving Grade
          • Hard Grade
          • Oxidized Grade
          • Bitumen Emulsion
          • Polymer Modified
        • By End User
          • Road Construction
          • Waterproofing
          • Others
    • Europe
      • U.K.
        • By Product type
          • Paving Grade
          • Hard Grade
          • Oxidized Grade
          • Bitumen Emulsion
          • Polymer Modified
        • By End User
          • Road Construction
          • Waterproofing
          • Others
      • France
        • By Product type
          • Paving Grade
          • Hard Grade
          • Oxidized Grade
          • Bitumen Emulsion
          • Polymer Modified
        • By End User
          • Road Construction
          • Waterproofing
          • Others
      • Spain
        • By Product type
          • Paving Grade
          • Hard Grade
          • Oxidized Grade
          • Bitumen Emulsion
          • Polymer Modified
        • By End User
          • Road Construction
          • Waterproofing
          • Others
      • Italy
        • By Product type
          • Paving Grade
          • Hard Grade
          • Oxidized Grade
          • Bitumen Emulsion
          • Polymer Modified
        • By End User
          • Road Construction
          • Waterproofing
          • Others
      • Germany
        • By Product type
          • Paving Grade
          • Hard Grade
          • Oxidized Grade
          • Bitumen Emulsion
          • Polymer Modified
        • By End User
          • Road Construction
          • Waterproofing
          • Others
      • Russia
        • By Product type
          • Paving Grade
          • Hard Grade
          • Oxidized Grade
          • Bitumen Emulsion
          • Polymer Modified
        • By End User
          • Road Construction
          • Waterproofing
          • Others
      • Poland
        • By Product type
          • Paving Grade
          • Hard Grade
          • Oxidized Grade
          • Bitumen Emulsion
          • Polymer Modified
        • By End User
          • Road Construction
          • Waterproofing
          • Others
      • Rest of Europe
        • By Product type
          • Paving Grade
          • Hard Grade
          • Oxidized Grade
          • Bitumen Emulsion
          • Polymer Modified
        • By End User
          • Road Construction
          • Waterproofing
          • Others
    • Asia Pacific
      • China
        • By Product type
          • Paving Grade
          • Hard Grade
          • Oxidized Grade
          • Bitumen Emulsion
          • Polymer Modified
        • By End User
          • Road Construction
          • Waterproofing
          • Others
      • India
        • By Product type
          • Paving Grade
          • Hard Grade
          • Oxidized Grade
          • Bitumen Emulsion
          • Polymer Modified
        • By End User
          • Road Construction
          • Waterproofing
          • Others
      • Oceania
        • By Product type
          • Paving Grade
          • Hard Grade
          • Oxidized Grade
          • Bitumen Emulsion
          • Polymer Modified
        • By End User
          • Road Construction
          • Waterproofing
          • Others
      • ASEAN
        • By Product type
          • Paving Grade
          • Hard Grade
          • Oxidized Grade
          • Bitumen Emulsion
          • Polymer Modified
        • By End User
          • Road Construction
          • Waterproofing
          • Others
      • Rest of Asia Pacific
        • By Product type
          • Paving Grade
          • Hard Grade
          • Oxidized Grade
          • Bitumen Emulsion
          • Polymer Modified
        • By End User
          • Road Construction
          • Waterproofing
          • Others
    • Middle East & Africa
      • GCC
        • By Product type
          • Paving Grade
          • Hard Grade
          • Oxidized Grade
          • Bitumen Emulsion
          • Polymer Modified
        • By End User
          • Road Construction
          • Waterproofing
          • Others
      • Turkey
        • By Product type
          • Paving Grade
          • Hard Grade
          • Oxidized Grade
          • Bitumen Emulsion
          • Polymer Modified
        • By End User
          • Road Construction
          • Waterproofing
          • Others
      • Israel
        • By Product type
          • Paving Grade
          • Hard Grade
          • Oxidized Grade
          • Bitumen Emulsion
          • Polymer Modified
        • By End User
          • Road Construction
          • Waterproofing
          • Others
      • South Africa
        • By Product type
          • Paving Grade
          • Hard Grade
          • Oxidized Grade
          • Bitumen Emulsion
          • Polymer Modified
        • By End User
          • Road Construction
          • Waterproofing
          • Others
      • Rest of MEA
        • By Product type
          • Paving Grade
          • Hard Grade
          • Oxidized Grade
          • Bitumen Emulsion
          • Polymer Modified
        • By End User
          • Road Construction
          • Waterproofing
          • Others
  • Company Profiles
    • Exxon Mobil Corporation
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Total S.A.
    • Indian Oil Corporation Ltd.
    • Royal Dutch Shell Plc.
    • Marathon Oil Corporation
    • Calumet Specialty Product Partners Ltd L.P
    • Chevron Texaco Corporation
    • Nynas AB

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By End user
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
        • Supply Side Drivers
        • Demand Side Drivers
        • Economic Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • PEST Analysis
      • PORTER’s Analysis
      • New Product Approvals/Launch
      • Promotion and Marketing Initiatives
  4. Global Bitumen Market, By Product Type, 2017 - 2027 (US$ Billion and Kilo Tons)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
      • Segment Trends
    • Paving Grade
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Billion and Kilo Tons)
    • Hard Grade
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Billion and Kilo Tons)
    • Oxidized Grade
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Billion and Kilo Tons)
    • Bitumen Emulsion
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Billion and Kilo Tons)
    • Polymer Modified
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Billion and Kilo Tons)
  5. Global Bitumen Market, By End user, 2017 - 2027 (US$ Billion and Kilo Tons)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
      • Segment Trends
    • Road Construction
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Billion and Kilo Tons)
    • Waterproofing
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Billion and Kilo Tons)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Billion and Kilo Tons)
  6. Global Bitumen Market, By Region, 2017- 2027 (US$ Billion and Kilo Tons)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Region, 2019 - 2027
    • North America
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2019 - 2027
        • U.S.
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion and Kilo Tons)
          • Market Size and Forecast, By End user, 2017- 2027 (US$ Billion and Kilo Tons)
        • Canada
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion and Kilo Tons)
          • Market Size and Forecast, By End user, 2017- 2027 (US$ Billion and Kilo Tons)
    • Latin America
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2019 - 2027
        • Brazil
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion and Kilo Tons)
          • Market Size and Forecast, By End user, 2017- 2027 (US$ Billion and Kilo Tons)
        • Mexico
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion and Kilo Tons)
          • Market Size and Forecast, By End user, 2017- 2027 (US$ Billion and Kilo Tons)
        • Argentina
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion and Kilo Tons)
          • Market Size and Forecast, By End user, 2017- 2027 (US$ Billion and Kilo Tons)
        • Rest of Latin America
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion and Kilo Tons)
          • Market Size and Forecast, By End user, 2017- 2027 (US$ Billion and Kilo Tons)
    • Europe
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2019 - 2027
        • U.K.
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion and Kilo Tons)
          • Market Size and Forecast, By End user, 2017- 2027 (US$ Billion and Kilo Tons)
        • France
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion and Kilo Tons)
          • Market Size and Forecast, By End user, 2017- 2027 (US$ Billion and Kilo Tons)
        • Spain
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion and Kilo Tons)
          • Market Size and Forecast, By End user, 2017- 2027 (US$ Billion and Kilo Tons)
        • Italy
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion and Kilo Tons)
          • Market Size and Forecast, By End user, 2017- 2027 (US$ Billion and Kilo Tons)
        • Germany
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion and Kilo Tons)
          • Market Size and Forecast, By End user, 2017- 2027 (US$ Billion and Kilo Tons)
          •  
        • Russia
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion and Kilo Tons)
          • Market Size and Forecast, By End user, 2017- 2027 (US$ Billion and Kilo Tons)
        • Poland
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion and Kilo Tons)
          • Market Size and Forecast, By End user, 2017- 2027 (US$ Billion and Kilo Tons)
        • Rest of Europe
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion and Kilo Tons)
          • Market Size and Forecast, By End user, 2017- 2027 (US$ Billion and Kilo Tons)
    • Asia Pacific
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2019 - 2027
        • China
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion and Kilo Tons)
          • Market Size and Forecast, By End user, 2017- 2027 (US$ Billion and Kilo Tons)
        • India
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion and Kilo Tons)
          • Market Size and Forecast, By End user, 2017- 2027 (US$ Billion and Kilo Tons)
        • Oceania
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion and Kilo Tons)
          • Market Size and Forecast, By End user, 2017- 2027 (US$ Billion and Kilo Tons)
        • ASEAN
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion and Kilo Tons)
          • Market Size and Forecast, By End user, 2017- 2027 (US$ Billion and Kilo Tons)
        • Rest of Asia Pacific
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion and Kilo Tons)
          • Market Size and Forecast, By End user, 2017- 2027 (US$ Billion and Kilo Tons)
    • Middle East & Africa
      • Market Share Analysis, By Country/ Sub-region, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country/ Sub-region, 2019 - 2027
        • GCC
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion and Kilo Tons)
          • Market Size and Forecast, By End user, 2017- 2027 (US$ Billion and Kilo Tons)
        • Turkey
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion and Kilo Tons)
          • Market Size and Forecast, By End user, 2017- 2027 (US$ Billion and Kilo Tons)
        • Israel
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion and Kilo Tons)
          • Market Size and Forecast, By End user, 2017- 2027 (US$ Billion and Kilo Tons)
        • South Africa
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion and Kilo Tons)
          • Market Size and Forecast, By End user, 2017- 2027 (US$ Billion and Kilo Tons)
        • Rest of Middle East & Africa
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion and Kilo Tons)
          • Market Size and Forecast, By End user, 2017- 2027 (US$ Billion and Kilo Tons)
  7. Competitive Landscape
    • Market Share Analysis
    • Company Profiles
      • Exxon Mobil Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Total S.A.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Indian Oil Corporation Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Royal Dutch Shell Plc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Marathon Oil Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Calumet Specialty Product Partners Ltd L.P.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Chevron Texaco Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Nynas AB
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

* Browse 45 market data tables* and 30 figures* on "Global Bitumen Market” – global forecast to 2027

Frequently Asked Questions

The global bitumen market is estimated to reach US$ 121 Billion, in terms of revenue by the end of 2027.
Major players operating in the global bitumen market include Exxon Mobil Corporation, Total S.A., Indian Oil Corporation Ltd., Royal Dutch Shell Plc., Marathon Oil Corporation, Calumet Specialty Product Partners Ltd L.P, Chevron Texaco Corporation, and Nynas AB.
The increasing adoption of alternate of the bitumen such as concrete roads and pavements due to their high tensile strength is one of the major factors that is expected to hamper growth of the market over the forecast period.
Rising demand for bitumen as an additive across solvents and black paints application, coupled with growing demand for bitumen as adhesives across glass and ceramic industry are the major factors that are expected to propel growth of the market over the forecast period.
The global bitumen market is estimated to exhibit a CAGR of 5.2% over the forecast period (2019-2027).
Among regions, Asia Pacific held a dominant position in the global bitumen market in 2018, accounting for 31% market share, in terms of revenue, followed by North America and Europe, respectively.
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