Bitumen Market Report: Trends, Forecast and Competitive Analysis to 2030

Bitumen Market Report: Trends, Forecast and Competitive Analysis to 2030

Bitumen Trends and Forecast

The future of the global bitumen market looks promising with opportunities in the road construction and waterproofing markets. The global bitumen market is expected to reach an estimated $60.6 billion by 2030 with a CAGR of 3.2% from 2024 to 2030. The major drivers for this market are increasing activities for road construction and repair, growing demand from home and commercial construction projects, and expansion of transportation infrastructure.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Bitumen by Segment

The study includes a forecast for the global bitumen by type, end use, and region.

Bitumen Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• Paving Grade Bitumen
• Oxidized Grade Bitumen
• Polymer Modified Bitumen
• Bitumen Emulsion
• Others

Bitumen Market by End Use [Shipment Analysis by Value from 2018 to 2030]:

• Road Construction
• Waterproofing
• Others

Bitumen Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Bitumen Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies bitumen companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the bitumen companies profiled in this report include-

• Asphalt & Bitumen West
• Royal Dutch Shell
• GOIL
• NYNAS
• Exxon Mobil
• Hindustan Petroleum
• RAHA Bitumen
• Sinopec
• Gazprom
• TotalEnergies

Bitumen Market Insights

Lucintel forecasts that paving grade bitumen is expected to witness the highest growth over the forecast period due to its substantial usage to create concrete blocks and coarse and fine materials, including pebbles or crushed rock.

Within this market, road construction is expected to witness the highest growth over the forecast period.

APAC will remain the largest region over the forecast period due to quick industrialization and urbanization in the region.

Features of the Global Bitumen Market

Market Size Estimates: Bitumen market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Bitumen market size by type, end use, and region in terms of value ($B).

Regional Analysis: Bitumen market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different types, end uses, and regions for the bitumen market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the bitumen market.

Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the bitumen market size?

Answer: The global bitumen market is expected to reach an estimated $60.6 billion by 2030.

Q2. What is the growth forecast for bitumen market?

Answer: The global bitumen market is expected to grow with a CAGR of 3.2% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the bitumen market?

Answer: The major drivers for this market are increasing activities for road construction and repair, growing demand from home and commercial construction projects, and expansion of transportation infrastructure.

Q4. What are the major segments for bitumen market?

Answer: The future of the bitumen market looks promising with opportunities in the road construction and waterproofing markets.

Q5. Who are the key bitumen market companies?

Answer: Some of the key bitumen companies are as follows:

• Asphalt & Bitumen West
• Royal Dutch Shell
• GOIL
• NYNAS
• Exxon Mobil
• Hindustan Petroleum
• RAHA Bitumen
• Sinopec
• Gazprom
• TotalEnergies

Q6. Which bitumen market segment will be the largest in future?

Answer: Lucintel forecasts that paving grade bitumen is expected to witness the highest growth over the forecast period due to its substantial usage to create concrete blocks and coarse and fine materials, including pebbles or crushed rock.

Q7. In bitumen market, which region is expected to be the largest in next 5 years?

Answer: APAC will remain the largest region over the forecast period due to quick industrialization and urbanization in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

Q.1. What are some of the most promising, high-growth opportunities for the bitumen market by type (paving grade bitumen, oxidized grade bitumen, polymer modified bitumen, bitumen emulsion, and others), end use (road construction, waterproofing, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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