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Bitumen Market Outlook 2019 | Shows Industry Overview, Size, Share, Remarkable Growth Factors, Types, and Applications Forecast to 2024

Bitumen

The “Bitumen Market” 2019 report provides market size (value and volume), market share, growth rate by types, applications, and combines both qualitative and quantitative methods to make micro and macro forecasts in different regions or countries. Bitumen Market report also aims to provide useful and comprehensive insights into current market trends and future growth scenarios. Bitumen market report contains information like SWOT analysis, business highlights, strength, weakness, threats and opportunities of industry.

Top Manufacturers of Bitumen Market Are:

  • Bouygues
  • BP PLC
  • China Petrochemical Corporation
  • Exxon Mobil Corporation
  • Icopal ApS
  • Indian Oil Corporation Ltd
  • JXTG Nippon Oil & Energy Corporation
  • Kraton Corporation
  • Marathon Oil Company
  • NuStar Energy LP
  • Nynas AB
  • Petrleos Mexicanos
  • Shell International BV
  • Suncor Energy Inc.

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    Market Overview:

  • The bitumen market is anticipated to register a CAGR of more than 4% during the forecast period, 2019-2024. Bitumen is widely used as a binding organic material, made from the by-products of refined crude oil. Bitumen is used in road construction, as it is easy to produce, reusable, non-toxic, and a strong binder.
  • – Increasing road construction and repair activities and demand from commercial and domestic building constructions are augmenting the growth of the market studied.
  • – Increasing environmental concerns are likely to hinder the market’s growth.
  • – Robust growth in construction activities in the Asia-Pacific region is projected to act as an opportunity for the market in future.<

    Scope of the Report:

  • This report studies the global Bitumen market size, industry status and forecast, competition landscape and growth opportunity.

    Bitumen Market Report Answers the Following Questions:

    • What will the market size and the growth rate be in 2024?
    • What are the key factors driving the global Bitumen market?
    • What are the key market trends impacting the growth of the global Bitumen market?
    • What are the challenges to market growth?
    • Who are the key vendors in the global Bitumen market?
    • What are the market opportunities and threats faced by the vendors in the global Bitumen market?
    • Trending factors influencing the market shares of the relevant regions.
    • What are the key outcomes of the five forces analysis of the global Bitumen market?

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    Key Market Trends:

    Increasing Demand Due to Increasing Road Construction Activities

    – The majority of bitumen consumed is processed into asphalt for road construction. Asphalt is a mixture of rock aggregates and bitumen. Bitumen serves as a binding agent and thus, is responsible for the stability of asphalt. Depending on the type of bitumen or composition of the mixture used, asphalt roads can be made suitable for regions with different climatic conditions or various levels of operational demands. Asphalt is also used for airport runways, parking decks, and working areas in ports.
    – Roadways is one of the key sectors that determines a country’s economic growth. Roads, airport runways, and parking decks are essential services that drive the economic activity by channelizing trade and mobility. Massive investments are required that help in modernization and maintenance of these systems.
    – Globally, the infrastructure sector is experiencing stable growth, as a result of increasing government spending to promote local infrastructure. In keeping pace with the growing economic activity and shifting demographic trends, spending on infrastructure activities is largely driven by developing economies in comparison to developed economies
    – In developing economies in Asia-Pacific, infrastructure activities are expected to increase significantly, especially in the transportation sector, owing to increasing urbanization and shifting focus toward the developing secondary sector in these countries. Furthermore, increasing economic prosperity is driving the infrastructure financing toward consumer sectors, including transportation and manufacturing, which provide and distribute raw materials for consumer goods.
    – India, in its 2018 budget, allotted INR 21,453.42 crore out of INR 71,000 crore budgetary allocation to the Highways Ministry for works under this Ministry. It includes expenditure on development of National Highways, including projects relating to expressways, two-laning of highways, under the National Highways Development Project, six-laning of crowded stretches of the Golden Quadrilateral, a special program for the development of road connectivity in Naxal affected areas, development of Vijayawada—Ranchi road, and for providing last mile connectivity.
    – As these sectors have potential to fetch larger investments in near future, the governments of developing economies (such as China and India, among others) are taking initiatives by floating tenders reflecting opportunities in building infrastructure, essential for the growth of a specific sector. Furthermore, the emergence of megacities in both, emerging and developed markets, which reflects the shifting economic and demographic trends, may create enormous need for new infrastructure.
    – All the aforementioned factors are expected to drive the global market during the forecast period.

    The Asia-Pacific Region is Expected to Dominate the Market

    – The Asia-Pacific region is expected to experience robust bitumen growth, owing to the industrial and infrastructural activities in countries, like China and India.
    – China is the largest economy, in terms of GDP. The country’s annual growth of GDP was 6.6% in 2018, and it is expected to increase by 6.3% in 2019. The growth in the country remains high, but is gradually diminishing, as the population is aging and the economy is rebalancing from investment to consumption, manufacturing to services, and external to internal demand.
    – The China Railway Corporation (CRC) announced its plans to construct 6,800 km of new railway lines, including 3,200 km of high-speed rail, which represents a 40% increase of new tracks compared to those in 2018.
    – The government has also approved the construction of urban and inter-city rail projects worth USD 127.26 billion (CNY 860 billion) in several cities, including Shanghai and Wuhan.
    – Similarly, India is expected to have a requirement of investment worth USD 777.73 billion in infrastructure by 2022, to have sustainable development in the country.
    – In 2018, the infrastructure sector in India witnessed private equity and venture capital investments worth USD 1.97 billion. The Government of India is expected to invest highly in the infrastructure sector, mainly highways, renewable energy and urban transport.
    – Such factors are projected to drive the market in the Asia-Pacific region.

    Market Dynamics: –

    • Drivers: (Developing regions and growing markets)
    • Limitations: (Regional, Key Player facing Issues, Future Barriers for growth)
    • Opportunities: (Regional, Growth Rate, Competitive, Consumption)

    The report provides key statistics on the market status of the Bitumen Market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the Bitumen .

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    Report Objectives:

    • Analyzing the size of the Bitumen market on the basis of value and volume.
    • Accurately calculating the market segments, consumption, and other dynamic factors of different sections of the global Bitumen market.
    • Determining the key dynamics of the Bitumen market.
    • Highlighting significant trends of the Bitumen market in terms of manufacture, revenue, and sales.
    • Deeply summarizing top players of the Bitumen market and showing how they compete in the industry.
    • Studying industry processes and costs, product pricing, and various trends related to them.
    • Displaying the performance of different regions and countries in the global Bitumen market.

    Detailed TOC of Bitumen Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Drivers
    4.1.1 Increasing Road Construction and Repair Activities
    4.1.2 Demand from Commercial and Domestic Building Constructions
    4.2 Restraints
    4.2.1 Environmental Concerns
    4.2.2 Other Restraints
    4.3 Industry Value-Chain Analysis
    4.4 Porter’s Five Forces Analysis
    4.4.1 Bargaining Power of Suppliers
    4.4.2 Bargaining Power of Consumers
    4.4.3 Threat of New Entrants
    4.4.4 Threat of Substitute Products and Services
    4.4.5 Degree of Competition

    5 MARKET SEGMENTATION
    5.1 Product Type
    5.1.1 Paving Grade
    5.1.2 Hard Grade
    5.1.3 Oxidized Grade
    5.1.4 Bitumen Emulsions
    5.1.5 Polymer Modified Bitumen
    5.1.6 Other Product Types
    5.2 Application
    5.2.1 Road Construction
    5.2.2 Waterproofing
    5.2.3 Adhesives
    5.2.4 Other Applications
    5.3 Geography
    5.3.1 Asia-Pacific
    5.3.1.1 China
    5.3.1.2 India
    5.3.1.3 Japan
    5.3.1.4 South Korea
    5.3.1.5 ASEAN Countries
    5.3.1.6 Rest of Asia-Pacific
    5.3.2 North America
    5.3.2.1 United States
    5.3.2.2 Canada
    5.3.2.3 Mexico
    5.3.3 Europe
    5.3.3.1 Germany
    5.3.3.2 United Kingdom
    5.3.3.3 Italy
    5.3.3.4 France
    5.3.3.5 Russia
    5.3.3.6 Rest of Europe
    5.3.4 South America
    5.3.4.1 Brazil
    5.3.4.2 Argentina
    5.3.4.3 Rest of South America
    5.3.5 Middle East & Africa
    5.3.5.1 Saudi Arabia
    5.3.5.2 South Africa
    5.3.5.3 Rest of Middle East & Africa

    6 COMPETITIVE LANDSCAPE
    6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
    6.2 Market Share Analysis**
    6.3 Strategies Adopted by Leading Players
    6.4 Company Profiles
    6.4.1 Bouygues
    6.4.2 BP PLC
    6.4.3 China Petrochemical Corporation
    6.4.4 Exxon Mobil Corporation
    6.4.5 Icopal ApS
    6.4.6 Indian Oil Corporation Ltd
    6.4.7 JXTG Nippon Oil & Energy Corporation
    6.4.8 Kraton Corporation
    6.4.9 Marathon Oil Company
    6.4.10 NuStar Energy LP
    6.4.11 Nynas AB
    6.4.12 Petrleos Mexicanos
    6.4.13 Shell International BV
    6.4.14 Suncor Energy Inc.

    7 MARKET OPPORTUNITIES AND FUTURE TRENDS
    7.1 Robust Growth in Construction Activities in Asia-Pacific
    7.2 Other Opportunities

     

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