This Persistence Market Research report examines the global bitumen market for the forecast period 2016 - 2022. The primary objective of the report is to identify opportunities in the market and present updates and insights pertaining to various segments of the global bitumen market.
A mixture of highly sticky, black, viscous organic liquids that is entirely soluble in carbon disulfide and primarily composed of highly condensed polycyclic aromatic hydrocarbons is called bitumen. Naturally occurring bitumen is a tar-lie form of petroleum which is so dense, heavy, and thick that it must be heated or diluted before it could flow. Bitumen mostly contain sulfur and various heavy metals such as vanadium, lead, nickel, chromium, mercury, and other toxic elements.
To understand and assess opportunities in this market, the report is categorically divided into three main market analysis sections, i.e., by product type, by end-use industry, and by region. The report analyses the global bitumen market in terms of market value (US$ Mn) and volume (metric tons).
The report begins with an overview of the global bitumen market, appraising the market performance in terms of revenue and volume, followed by PMR’s analysis of key trends, drivers, and restraints witnessed in the global bitumen market. Impact analysis of the key growth drivers and restraints based on the weighted average model is also included in the report to equip the client with crystal-clear, decision-making insights.
The subsequent section analyses the bitumen market as per product type, and presents a forecast for the period 2016 - 2022.
Product types assessed in the report include:
The report further analyses the market based on region and presents the forecast in terms of value for the next six years.
Regions assessed in the report are:
The report further analyses the market based on end-use industry and presents the forecast in terms of value and volume for the next six years.
To calculate the market size, the report considers various aspects based on secondary research. Furthermore, data points such as region-wise split and market split by application and qualitative inputs from primary respondents have been incorporated to arrive at appropriate market estimates. The forecast presented in the report assesses the total revenue generated by the global bitumen market between 2016 and 2022.
When developing the market forecast, the starting point begins with sizing up the current market, which forms the basis for forecasting how the market is anticipated to take shape in the near future. Given the characteristics of the market, PMR triangulates the data via different analysis based on the supply side, demand side, and dynamics of the bitumen market. However, quantifying the market across the above-mentioned segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalising them after the forecast has been completed.
It is imperative to note that in an ever-fluctuating economy scenario, we not only conduct forecasts in terms of CAGR, but also analyse on the basis of key parameters, such as Year-on-Year (Y-o-Y) growth, to understand the predictability of the market and to identify the right opportunities.
Another key feature of this report is the analysis of bitumen market, by region, product type, and end-use industry, and the corresponding revenue forecast in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective, in the global bitumen market.
To understand key segments in terms of their growth and performance in the bitumen market, Persistence Market Research has developed a market attractiveness index. The resulting index should help providers identify the existing market opportunities in the global bitumen market.
In the final section of the report, the bitumen market competitive landscape is included to provide a dashboard view of companies that manufacture and supply bitumen. The report contains company profiles of some of the major players operating in the global bitumen market.
A mixture of highly sticky, black, and viscous organic liquids that is entirely soluble in carbon disulfide and primarily composed of highly condensed polycyclic aromatic hydrocarbons is called bitumen. Naturally occurring bitumen is a tar-lie form of petroleum which is so dense, heavy, and thick that it must be heated or diluted before it could flow. Bitumen mostly contains sulfur and various heavy metals such as vanadium, lead, nickel, chromium, mercury, and other toxic elements.
Drivers and Trends
The market for bitumen is indirectly related to the GDP of various countries across the globe due to its widespread usage in road construction, waterproofing, and industrial applications. Due to the surge in production of bitumen in North America, the MEA and APAC, the bitumen market in the aforementioned regions is estimated to increase at a significant CAGR over 2016–2022 in terms of revenue. With an anticipated increase in production of bitumen in APAC in the coming years, demand for bitumen in the region is expected to increase between 2016 and 2022. Currently, some of the major factors driving growth of the global bitumen market are increasing road construction activities, use of bitumen in commercial and domestic building constructions, and supportive initiatives by governments of various countries.
Persistence Market Research, in its report titled “Bitumen Market: Global Industry Analysis and Forecast, 2016-2022,” has categorized the bitumen market into key segments based on product type, end-use industry, and region. On the basis of the product type segment, the global bitumen market is divided into five segments: paving grade, hard grade, oxidized grade, bitumen emulsions, and polymer modified bitumen. On the basis of end-use industry, the global bitumen market is divided into road construction, waterproofing, and others. Finally, on the basis of region, the global bitumen market is segmented into North America, Latin America, Europe, APAC, and the MEA.
Analysis, by Region
The bitumen market in APAC is expected to expand at a CAGR of 7.0% in terms of volume during the forecast period. The region is expected to account for a volume share of around 29.4% of the global bitumen market by the end of the 2022. In terms of value, the North America market is expected to account for a major value share of the global bitumen market during the forecast period.
Analysis, by Product Type
By product type, the paving grade segment in the global bitumen market is slated to expand at the fastest CAGR during the forecast period in terms of volume. Growth of this segment is primarily driven by increase in use of paving grade bitumen in road construction and road surfacing activities. In terms of market value, the bitumen emulsions segment is expected to expand at a CAGR of 4.0% during the forecast period.
Some of the market players featured in this report are as follows:
Some of the market players featured in this report include: