Published by Coherent Market Insights
Posted on September 15, 2021
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)
Top Key Players in Bitumen market: 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
Regional Analysis For Bitumen Market:
Besides segmental breakdown, the report is highly structured into region wise study. The regional analysis comprehensively done by the researchers highlights key regions and their dominating countries accounting for substantial revenue share in the Bitumen market. The study helps understanding how the market will fare in the respective region, while also mentioning the emerging regions growing with a significant CAGR. The following are the regions covered in this report.
Rising demand for bitumen as an additive across solvents and black paints application because it helps to reinforce 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 varied industrial application is projected to fuel the market growth of the bitumen. Moreover, bitumen even 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 like glass and ceramic industry where strong adhesion is required is driving the market growth of bitumen. Bitumen as adhesives is additionally used across the development industry due to its highly viscous nature and fewer setting time. Therefore, the rising use of bitumen as adhesive across waterproofing, pipelines, flooring, and water tanks is predicted to propel the market growth of the bitumen.
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.
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com
The post Bitumen market analysis by latest trends, demand, key companies and sales data appeared first on Gatorledger.
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)
Top Key Players in Bitumen market: 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
Regional Analysis For Bitumen Market:
Besides segmental breakdown, the report is highly structured into region wise study. The regional analysis comprehensively done by the researchers highlights key regions and their dominating countries accounting for substantial revenue share in the Bitumen market. The study helps understanding how the market will fare in the respective region, while also mentioning the emerging regions growing with a significant CAGR. The following are the regions covered in this report.
Rising demand for bitumen as an additive across solvents and black paints application because it helps to reinforce 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 varied industrial application is projected to fuel the market growth of the bitumen. Moreover, bitumen even 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 like glass and ceramic industry where strong adhesion is required is driving the market growth of bitumen. Bitumen as adhesives is additionally used across the development industry due to its highly viscous nature and fewer setting time. Therefore, the rising use of bitumen as adhesive across waterproofing, pipelines, flooring, and water tanks is predicted to propel the market growth of the bitumen.
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.
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com
The post Bitumen market analysis by latest trends, demand, key companies and sales data appeared first on Gatorledger.
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