Based on revenue, cutback bitumen will hold approximately USD 3.9 billion of the overall bitumen market share by 2025.
Sellbyville, United States – September 30, 2019 /MarketersMedia/ —
Bitumen Market in adhesives segment will hold over USD 1.7 billion for the global revenue by 2025 and is anticipated to grow due to increasing usage of bituminous adhesive in cold-applied bonding, sealing, interply and surfacing. Cold applied bituminous adhesive is used for sticking roofing felts on asbestos, tiles including roofs on trains and railway carriages. Oxidized bitumen are processed by streaming air through penetration grade process, which gives the bitumen more rubbery texture than its original form. The insulation segment will exhibit a growth rate of over 2.5% due to growing usage of oxidized bitumen in electric cable joint protection, joint filling compound, sealant compound and many others.
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The growing trend of constructing wider roads and flyovers, owing to rising city traffic and population has impelled the growth of global bitumen market share from roadways applications. Indeed, roadways accounted for a prominent 80% of the overall bitumen market share in 2017 on account of the increased number of road construction projects. In this context, it is prudent to mention that polymer modified bitumen is a majorly used product in road surfacing and helps in maintaining the right consistency and strength, thus making the mixture more sustainable to various stresses.
The growing construction expenditure, which as per estimates, is likely to touch USD 13 trillion over the coming seven years has in turn accelerated the growth of bitumen industry across the globe. Bitumen market is also witnessing other lucrative growth avenues, owing to exclusive product demand from tire, paints & coatings, battery manufacturing, thermal & acoustic insulation sectors.
Based on revenue, cutback bitumen will hold approximately USD 3.9 billion of the overall bitumen market share by 2025. This is due to its growing utilization in sprayed sealing, especially in cold weather conditions where it yields initial stone retention due to their lower viscosity. The product is directly sprayed over the primed pavement on which final aggregate is laid. Bitumen emulsion segment will hold a lesser market share than the cutback secor in 2025 and will grow with a CAGR of close to 3.5% during the forecast spell.
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Estimates claim that North America accounted for 30% of the overall bitumen market share in 2017. Driven by the rising number of suburban remodeling projects across the United States and the subsequently growing product demand for waterproofing applications, especially across the U.S., North America bitumen market size, in terms of volume, will register a CAGR of 2.5% over 2018-2025.
Competitive landscape of the global bitumen market includes key industry players such as, Indian Oil Corporation, British petroleum, Royal Dutch Shell Plc, Total S.A., Chevron Texaco Corporation, NuStar Energy, China Petroleum and Chemical Corporation, Marathon Oil Corporation, Villas Austria GmbH, Exxon Mobil Corporation, Nynas AB, etc.
Major Point From Table Of Content:
Chapter 5. Bitumen Market, By Application
5.1. Global bitumen market, application insights
5.2. Roadways
5.2.1. Bitumen market estimates and forecast, 2014 – 2025
5.2.2. Bitumen market estimates and forecast by region, 2014 – 2025
5.3. Waterproofing
5.3.1. Market estimates and forecast, 2014 – 2025
5.3.2. Market estimates and forecast by region, 2014 – 2025
5.4. Adhesives
5.4.1. Market estimates and forecast, 2014 – 2025
5.4.2. Market estimates and forecast by region, 2014 – 2025
5.5. Insulation
5.5.1. Market estimates and forecast, 2014 – 2025
5.5.2. Market estimates and forecast by region, 2014 – 2025
5.6. Others
5.6.1. Market estimates and forecast, 2014 – 2025
5.6.2. Market estimates and forecast by region, 2014 – 2025
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