Bitumen Market Size To Reach USD 112.01 Billion By 2026 – Reports And Data

The global Bitumen Market is estimated to reach 112.01 Billion by 2026, according to a new report by Reports and Data. This can be mainly associated with the rising government policies towards infrastructural and roads development by using Public models such as Public-Private Partnership (PPP) across developed as well as developing nations.

Rising utilization of product0 in maintenance industry and road construction are also some of the important driving factors of the market. The product is used extensively to form asphalt concrete as a binder mixed with aggregate particles. Rise in bitumen usage, especially in waterproofing, roadways, insulation, etc. will spur the market in the construction and infrastructure industry. Bitumen is a mixture of black, very sticky, and viscous organic liquids that are sufficiently soluble in carbon disulfide and composed initially of highly compressed polycyclic aromatic hydrocarbons. Generally, bitumen is a tar-like sort of petroleum which is so thick, heavy, and dense that it must be diluted or heated before it could flow. It mostly contains sulfur and several heavy metals such as lead, vanadium, nickel, mercury, chromium, and other toxic elements. However, the growth of cement as an alternative to bitumen, mainly in road construction is a fundamental factor hindering the growth of the global bitumen market. Also, the release of toxic gases after heating bitumen is also restraining the growth of the market worldwide.

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APAC accounts for the largest share of 33.70% in 2018, encouraged by the expanding land connectivity in India, China, Japan, Vietnam, and other countries will slowly drive the bitumen market during the forecast time. This connectivity mostly depend on roads that act as a catalyst for the financial growth of a state.

Key participants include:

Indian Oil Corporation, Chevron Texaco Corporation, China Petroleum and Chemical Corporation, Total, British Petroleum, JX Nippon Oil & Energy Corporation, Villas Austria, Royal Dutch Shell, Marathon Oil Corporation, Petroleos Mexicanos, NuStar Energy, Nynas, Exxon Mobil, Bouygues, Imperial Oil.

Further key findings from the report suggest

• Generally, bitumen is a tar-like sort of petroleum which is so thick, heavy, and dense that it must be diluted or heated before it could flow. Bitumen mostly comprises sulfur and several heavy metals such as lead, vanadium, nickel, mercury, chromium, and other toxic elements.
• Stringent regulatory compliances regarding the extraction of bitumen and the initiation of some of the available alternatives to the product like concrete are anticipated to prevent the progress of the bitumen market soon. Moreover, the addition of a bio-based product like bio-bitumen may reduce market growth during the forecast period.
• However, companies have expanded R&D spending to innovate and develop affordable new technologies to overcome the challenges, which are expected to create enough opportunities for the existing as well as new market players. It needs low maintenance which is further expected to create profitable opportunities for the market players.
• The polymer modified segment (PMB) is valued at USD 5.14 Billion in 2018 and is estimated to reach USD 7.44 Billion by 2026, at a CAGR of 4.6% during the forecast period, due to its widespread usage in road surfacing and industrial applications. Addition of polymers in natural bitumen makes the mixture more cohesive with notable resistance to deformations for road pavements.
• Oxidized bitumen is valued at USD 14.84 Billion in 2018 and is estimated to reach USD 21.69 Billion by 2026 at a CAGR of 4.7% during the forecast period.
• The roadways market of the application segment accounts for the largest market share of 31.50% in 2018 and is estimated to reach USD 33.51 Billion by 2026.
• The other sector of the application segment includes minor sectors such as paints, turfs & grounds, and coatings, etc. The market players are primarily focused on developing new technologies to meet the requirement of users. Various companies are also involved in numerous merger & acquisitions as their essential strategy is to maintain sufficient market share. These factors are expected to have a positive impact on industry growth over the next few years.
• Growing population coupled with excellent living standards have significantly given rise to traffic globally which are leading to the construction of some heavy-duty roads and flyovers along with the extension of the existing roadways. This trend is predicted to boost the overall industry growth during the forecast period.
• Various emerging and leading players are launching extensive and advanced solutions with new applications for various clinical settings, with a move to consolidate their shares in various regions.
• The market players are primarily focused on developing new technologies to meet the requirement of users. Various companies are also involved in numerous mergers & acquisitions, as their essential strategy is to maintain sufficient market share. These factors are expected to have a positive impact on industry growth over the next few years.
• Other regions such as North America are estimated to register a CAGR of 4.8%, during the forecast period. Europe is valued at USD 17.00 Billion in 2018 and is estimated to reach USD 24.87 Billion by 2026 at a CAGR of 4.7% during the forecast period.

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For the purpose of this report, Reports and Data have segmented global Bitumen Market on the basis of Type, Application, Product type and region:

Type Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)

• Rapid setting (RS)
• Medium setting (MS)
• Slow setting (SC)

Product Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)

• Paving grade bitumen
• Oxidized bitumen
• Cutback bitumen
• Bitumen emulsion
• Polymer modified bitumen (PMB)
• Others

Application Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)

• Roadways
• Waterproofing
• Adhesive
• Insulation
• Others

Regional Outlook (Volume, Kilo Tons; and Revenue, USD Billion; 2016-2026)

• North America
  • U.S.
• Europe
  • Germany
  • UK
• Asia Pacific
  • China
  • India
  • South-east Asia
• Latin America
  • Brazil
• MEA

Buy now your Exclusive copy of Report @ https://www.reportsanddata.com/checkout-form/1271

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

Contact Us:

John W

Head of Business Development

Reports and Data | Web: www.reportsanddata.com

Direct Line: +1-212-710-1370

E-mail: sales@reportsanddata.com

Read Our Innovative Blogs @ https://www.reportsanddata.com/blogs

Read Full Press Release: https://www.reportsanddata.com/press-release/global-bitumen-market

The post Bitumen Market Size To Reach USD 112.01 Billion By 2026 – Reports And Data first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.

The global Bitumen Market is estimated to reach 112.01 Billion by 2026, according to a new report by Reports and Data. This can be mainly associated with the rising government policies towards infrastructural and roads development by using Public models such as Public-Private Partnership (PPP) across developed as well as developing nations.

Rising utilization of product0 in maintenance industry and road construction are also some of the important driving factors of the market. The product is used extensively to form asphalt concrete as a binder mixed with aggregate particles. Rise in bitumen usage, especially in waterproofing, roadways, insulation, etc. will spur the market in the construction and infrastructure industry. Bitumen is a mixture of black, very sticky, and viscous organic liquids that are sufficiently soluble in carbon disulfide and composed initially of highly compressed polycyclic aromatic hydrocarbons. Generally, bitumen is a tar-like sort of petroleum which is so thick, heavy, and dense that it must be diluted or heated before it could flow. It mostly contains sulfur and several heavy metals such as lead, vanadium, nickel, mercury, chromium, and other toxic elements. However, the growth of cement as an alternative to bitumen, mainly in road construction is a fundamental factor hindering the growth of the global bitumen market. Also, the release of toxic gases after heating bitumen is also restraining the growth of the market worldwide.

Access Free sample PDF Copy of the Report @ https://www.reportsanddata.com/sample-enquiry-form/1271

APAC accounts for the largest share of 33.70% in 2018, encouraged by the expanding land connectivity in India, China, Japan, Vietnam, and other countries will slowly drive the bitumen market during the forecast time. This connectivity mostly depend on roads that act as a catalyst for the financial growth of a state.

Key participants include:

Indian Oil Corporation, Chevron Texaco Corporation, China Petroleum and Chemical Corporation, Total, British Petroleum, JX Nippon Oil & Energy Corporation, Villas Austria, Royal Dutch Shell, Marathon Oil Corporation, Petroleos Mexicanos, NuStar Energy, Nynas, Exxon Mobil, Bouygues, Imperial Oil.

Further key findings from the report suggest

• Generally, bitumen is a tar-like sort of petroleum which is so thick, heavy, and dense that it must be diluted or heated before it could flow. Bitumen mostly comprises sulfur and several heavy metals such as lead, vanadium, nickel, mercury, chromium, and other toxic elements.
• Stringent regulatory compliances regarding the extraction of bitumen and the initiation of some of the available alternatives to the product like concrete are anticipated to prevent the progress of the bitumen market soon. Moreover, the addition of a bio-based product like bio-bitumen may reduce market growth during the forecast period.
• However, companies have expanded R&D spending to innovate and develop affordable new technologies to overcome the challenges, which are expected to create enough opportunities for the existing as well as new market players. It needs low maintenance which is further expected to create profitable opportunities for the market players.
• The polymer modified segment (PMB) is valued at USD 5.14 Billion in 2018 and is estimated to reach USD 7.44 Billion by 2026, at a CAGR of 4.6% during the forecast period, due to its widespread usage in road surfacing and industrial applications. Addition of polymers in natural bitumen makes the mixture more cohesive with notable resistance to deformations for road pavements.
• Oxidized bitumen is valued at USD 14.84 Billion in 2018 and is estimated to reach USD 21.69 Billion by 2026 at a CAGR of 4.7% during the forecast period.
• The roadways market of the application segment accounts for the largest market share of 31.50% in 2018 and is estimated to reach USD 33.51 Billion by 2026.
• The other sector of the application segment includes minor sectors such as paints, turfs & grounds, and coatings, etc. The market players are primarily focused on developing new technologies to meet the requirement of users. Various companies are also involved in numerous merger & acquisitions as their essential strategy is to maintain sufficient market share. These factors are expected to have a positive impact on industry growth over the next few years.
• Growing population coupled with excellent living standards have significantly given rise to traffic globally which are leading to the construction of some heavy-duty roads and flyovers along with the extension of the existing roadways. This trend is predicted to boost the overall industry growth during the forecast period.
• Various emerging and leading players are launching extensive and advanced solutions with new applications for various clinical settings, with a move to consolidate their shares in various regions.
• The market players are primarily focused on developing new technologies to meet the requirement of users. Various companies are also involved in numerous mergers & acquisitions, as their essential strategy is to maintain sufficient market share. These factors are expected to have a positive impact on industry growth over the next few years.
• Other regions such as North America are estimated to register a CAGR of 4.8%, during the forecast period. Europe is valued at USD 17.00 Billion in 2018 and is estimated to reach USD 24.87 Billion by 2026 at a CAGR of 4.7% during the forecast period.

Request for Custom Research @ https://www.reportsanddata.com/request-customization-form/1271

For the purpose of this report, Reports and Data have segmented global Bitumen Market on the basis of Type, Application, Product type and region:

Type Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)

• Rapid setting (RS)
• Medium setting (MS)
• Slow setting (SC)

Product Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)

• Paving grade bitumen
• Oxidized bitumen
• Cutback bitumen
• Bitumen emulsion
• Polymer modified bitumen (PMB)
• Others

Application Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)

• Roadways
• Waterproofing
• Adhesive
• Insulation
• Others

Regional Outlook (Volume, Kilo Tons; and Revenue, USD Billion; 2016-2026)

• North America
  • U.S.
• Europe
  • Germany
  • UK
• Asia Pacific
  • China
  • India
  • South-east Asia
• Latin America
  • Brazil
• MEA

Buy now your Exclusive copy of Report @ https://www.reportsanddata.com/checkout-form/1271

Explore Reports and Data’s Prime Analysis of the global Materials and Chemicals Industry:

Electrolytic Manganese Dioxide Market Size, Share, Trends & Analysis Report By Application (Battery, Water Treatment), By Region, And Segment Forecasts To 2027

Automotive Structural Adhesives Market By Type (Water-based, Solvent-based, Hot melt, Reactive, and Others), By Application Type (Bonding, NVH, and Sealing/Protection), And Region-Global Forecast To 2027

Vials Primary Packaging Market Size, Share & Analysis, By Type (Plastic, Glass), By End-user (Hospitals, Pharmaceutical Companies, Research Institutes), By Region, Forecast To 2027

UV Photoinitiators Market Size, Trends & Analysis, By Type (Free-Radical Type Photoinitiator, Cationic Type Photoinitiator), By Application (Paints, Inks, Adhesives) And Regional Forecast Over 2017-2027

Bio-Polish Market By Product Type (Cellulase, Catalase, Laccase, Amylase, And Pectinase), Application Type (Cotton Processing, Piling And Fuzz Fibre Removal, Bleaching, And finishing And Others), And Region – Global Forecast To 2027

About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

Contact Us:

John W

Head of Business Development

Reports and Data | Web: www.reportsanddata.com

Direct Line: +1-212-710-1370

E-mail: sales@reportsanddata.com

Read Our Innovative Blogs @ https://www.reportsanddata.com/blogs

Read Full Press Release: https://www.reportsanddata.com/press-release/global-bitumen-market

The post Bitumen Market Size To Reach USD 112.01 Billion By 2026 – Reports And Data first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.