Surging Demand for Quality Transport Infrastructure Fuelling the Bitumen Market Growth
According to a new report published by Reports Monitor titled, “Global Construction Bitumen Market, Growth Opportunities, Innovations and Forecast, 2017-2025,” the Construction Bitumen market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025.
Bitumen, a dark coloured amorphous, cementitious material which occurs in different forms such as rock asphalt, natural bitumen, tar and it also occurs as by product of crude oil distillation process. When the fuels such as petrol, diesel and gasoline are refined from the crude oil, the bitumen is left behind, which is further treated and pure bitumen is derived.
Growing population has continuously raised the demand for quality infrastructure to ensure improved standard of living. This has resulted in the major factor driving the market growth. Increased demand from the construction sector also plays a role in propelling the market growth. However, the fluctuation in the crude oil prices would result in hampering the growth of bitumen market.
This report provides a detailed analysis of Construction Bitumen market, which includes current industry situations such as market size, growth and demands, market outlook, major players with their key strategies such as investment, mergers and acquisitions, value chain analysis and porter’s analysis. It covers the market canvas and the growth opportunities in the coming years. The report has been made with an in-depth analysis along with important inputs from the various industry experts. The research is carried out with both extensive primary and secondary data sources with bottom-up and top-down approaches.
The construction bitumen market is mainly bifurcated on the basis of type, end-use and application method. Depending upon the type, market is segmented into: Styrene-Butadiene-Styrene (SBS), Atactic Polypropylene (APP) , Crumb Rubber , Natural Rubber , Others, while on the basis of end-use, market is classified into: Road Construction , Building Construction , Others. Based on the application method, market is segmented into: Hot Asphalt Method, Cold Asphalt Method, Torch Applied Method, Others.
Asia Pacific is anticipated to achieve dominant position in the forecast period mainly owing to the rapid growth in the construction sector in the developing economies of India, China, Vietnam and others, while North American market is projected to achieve significant growth owing to the increasing need for reconstruction of the infrastructure such as roads, highways and buildings. The market is analyzed across the regions such as: North America, Europe, Asia Pacific and LAMEA (Latin America, Middle East and Africa).
The key vendors operating in the market are: Sika AG , Nynas AB , Total S.A. , Royal Dutch Shell PLC , Colas S.A. , Hindustan Colas Private Limited , Soprema Group , The DOW Chemical Company ,GAF Materials Corporation , Gazprom Neft PJSC , PJSC Rosneft Oil Company , Saint-Gobain Weber , Orlen Asfalt Sp. Z.O.O. , Exxonmobil Corporation , W.R.Grace and Company , Firestone Building Products Company , Fosroc International Limited , Lagan Asphalt Group , Bitumina Group , Global Road Technology , Texsa Systems SLU
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