Global Bitumen Market Is Expected to Reach USD 84.42 Billion in 2018: Transparency Market Research
Albany, NY -- (SBWIRE) -- 05/21/2014 -- Global bitumen demand was 103.94 million tons in 2011 and is expected to reach 121.99 million tons in 2018, growing at a CAGR of 2.3% from 2012 to 2018. In terms of revenue, the market was valued at USD 66.70 billion in 2011 and is expected to reach USD 84.42 billion in 2018, growing at a CAGR of 3.5% from 2012 to 2018.
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Growing road construction activities in fast growing regional markets of China and India are expected to drive the growth of the bitumen market in Asia. Furthermore, there is an increasing use of Polymer Modified Bitumen (PMB) in road construction, water-proofing of roofs and consumer goods, as properties of PMB can be altered to suit different needs. However, extraction of bitumen from oil sands has environmental issues associated with it that could hamper the demand for bitumen.
Road construction was the largest application segment for bitumen and accounted for over 80% of the global bitumen consumption in 2011. Water-proofing of roofs was the next largest application segment, consuming over 12 million tons of bitumen in 2012. In addition, bitumen is used as an adhesive and insulating material in a variety of general industrial applications.
North America was the largest bitumen consumer with over 30 million tons consumed in 2011. Europe followed North America in bitumen consumption, accounting for over 15% of global volumes in 2012. Germany and France were the largest regional markets in Europe, together accounting for over 30% of total consumption in 2012. Middle East and Brazil are expected to register above average growth over the forecast period.
Key players in the bitumen market include Shell Bitumen, NuStar Energy, ExxonMobil, Marathon Oil Company, Valero Energy Corporation and Nynas AB among others. The report profiles the above mentioned companies comprising their detailed market share analysis.
The report includes a detailed analysis of the bitumen market in terms of volume and revenue. In addition, the study covers demand forecast of each application in various geographies of North America, Europe, China, Asia Pacific (excluding China) and Rest of the World. The report comprises of the following segments:
Bitumen Market:Product Segment Analysis
- Paving Bitumen
- Oxidized Bitumen
- Cutback Bitumen
- Bitumen Emulsion
- Polymer Modified Bitumen (PMB)
Bitumen Market: Application Analysis
- Waterproofing (Roofing)
- Others (decorative, industrial uses)
The report provides estimates and forecast on volume basis for applications (roadways and waterproofing (roofing)) based on various grades that include:
- Hard Grade
- Soft Grade
- Polymer Modified Bitumen (PMB)
The report highlights bitumen consumption for every application in the following regions:
- North America
- Asia Pacific (excluding China)
- Rest of World
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