Bitumen Market To Witness Highest Demand, Register Healthy Growth With Detail Analysis till 2028

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Jun 14, 2022 (The Expresswire) — The report entitled “Global Bitumen Market Size” 2022, provides an analysis of market size and growth, market share, and economic impact of the industry. Bitumen Marketresearch report contains all of the relevant facts. It provides market insight by providing accurate data to its clients, allowing them to make critical decisions. It provides an overview of the market, including its definition, applications, and trends, as well as manufacturing technology. This market research study on Bitumen keeps track of all the latest advancements and breakthroughs in the industry. It provides information on the issues encountered while starting a business and offers advice on how to overcome them.

The global bitumen market size is anticipated to hit USD 67.14 billion by 2028 and exhibit a CAGR of 3.8% during the forecast period. The soaring road construction activities and the rising demand for bitumen for products for waterproofing applications are expected to be the key factors boosting the Bitumen Market growth. Fortune Business InsightsTM has presented this information in its report titled, “Bitumen Market, 2021-2028”. The market size stood at USD 49.45 billion in 2020 and USD 51.69 billion in 2021.

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Who is Bitumen Market Key Manufacturers?

Company Information: List of Top Manufacturers/ Key Players In Bitumen Market Report Are:

  • Asphalt and Bitumen West Co. (Tehran, Iran)
  • Raha Bitumen (Esfahan, Iran)
  • Asia Bitumen (Tehran, Iran)
  • Exxon Mobil (Texas, U.S.)
  • Royal Dutch Shell (Hague, Netherlands)
  • Sinopec (Beijing, China)
  • Nynas (Stockholm, Sweden)
  • GOIL Ltd (Accra, Ghana)
  • Total Energies (Courbevoie, France)
  • Gazprom Neft (St. Petersburg, Russia)
  • Indian Oil Corporation (New Delhi, India)

COVID-19 ImpactOn Bitumen Market Size:

The updated research, which is available as an extract, also includes the option to acquire premium features that cover extensive historical, present, and future data. A revised and updated pricing model for production and launch prices has also been added to the worldwide Bitumen industry research. The study includes updated estimates that account for the economic environment and COVID-19’s impact, as well as new content to help decision-makers get vital market knowledge.

Regional Analysis of Bitumen Market:

Booming Construction Sector to Influence Growth in Asia PacificAsia Pacific is anticipated to dominate the global bitumen market share. The adoption of several schemes and initiatives by governments to improve public infrastructure is likely to uplift the region’s market growth. Additionally, the booming construction sector and improving socio-economic conditions are expected to complement the region’s market growth.Europe is expected to emerge as a key market due to high emulsion demand and rising construction activities. The growing adoption of asphalt sheets and films in waterproofing solutions is likely to favor the region’s market growth.North America is projected to witness significant growth due to the rising bitumen adoption. Depleting crude oil and petroleum reserves is likely to bolster the demand for bio-asphalt in the coming years.The Middle East and Africa, and Latin America are expected to witness slow growth. Though, rising urbanization and industrialization are anticipated to amplify the region’s market growth in the coming years.

If you have any queries related to the Bitumen market report, you can ask our expert:

This report presents a comprehensive overview, market shares, and growth opportunities of the Bitumen market by product type, application, key manufacturers, and key regions and countries.Moreover, it helps new businesses perform a positive assessment of their business plans because it covers a range of topics market participants must be aware of to remain competitive.

Quick Takeaways from this Bitumen Industry Research Analysis:

1.Key drivers and Opportunities: Detailed analysis of driving factors and opportunities in different segments for strategizing.

2.Current trends and forecasts: Comprehensive analysis of the latest trends, development, and forecasts for the next few years to take the next steps.

3.Segmental analysis: Each segment analysis and driving factors along with revenue forecasts and growth rate analysis.

4.Regional Analysis: Thorough analysis of each region helps market players devise expansion strategies and take a leap.

5.Competitive Landscape: Extensive insights on each of the leading market players for outlining competitive scenarios and taking steps accordingly.

Drivers and Restraints:

Increasing Road Construction Activities to Fuel Market GrowthThe high demand for bitumen products such as bitumen paint, bitumen primer, bitumen roof, bitumen adhesive, and others, due to their exceptional properties, are anticipated to fuel the market growth. These products are widely applied in waterproofing underground structures, bridges, basements, and other infrastructure. Hence, the high demand for bitumen products in waterproofing applications is likely to stimulate market growth.The innate and unique properties of bitumen allow it to be used as a raw material in pavement and road construction. The increasing road construction activities across developing and developed economies are likely to benefit the market growth.Additionally, the development of bio-asphalt that is sustainable and eco-friendly is likely to amplify market growth in the forthcoming years.

Key Questions Answered in This Report:

  • How does our product and services portfolio compare to leading competitors?
  • What are the key developments in customer demand given the changing economy?
  • What are the new pricing and consumption models in the marketplace and how should we align our portfolio?
  • What are the key decision drivers for service buyers?
  • What is the potential of the Bitumen Market?
  • What are the top strategies that companies adopting in Bitumen Market?
  • What are the challenges faced by prominent vendors in Bitumen Market?
  • Which region has the highest investments in Bitumen Market?
  • What are the latest research and activities in Bitumen Market?

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