Bitumen Market Will Witness Enhanced Demand In Infrastructural Development Projects Till 2020: Grand View Research, Inc.

GrandViewResearch.com has announced the addition of “Global Biocides Market Analysis And Segment Forecasts To 2020” Market Research report to their Database

The global bitumen market is expected to reach USD 95.77 billion by 2020, according to a new study by Grand View Research, Inc. Bitumen is primarily used in road construction activities and increased road development in high growth markets of India, China and Brazil is expected to be a key driver for the growth of the market.
Roadway constructions were the major consumers of bitumen in 2013, accounting for over 80 million tons of global consumption. Other key applications include waterproofing, insulation and adhesives. Water proofing is expected to be the fastest growing application market for bitumen, at an estimated CAGR of 2.9% on volume basis, primarily on account of improved Polymer Modified Bitumen (PMB) quality in water resistance. Environmental issues associated with the extraction of bitumen from oil sands are expected to remain a key challenge for the growth of the market in the near future.

Browse full research report on Global Bitumen Market:
http://www.grandviewresearch.com/industry-analysis/bitumen-market

Further key findings from the study suggest:

Global bitumen consumption is expected to reach 135.07 million tons by 2020, growing at a CAGR of 2.7% from 2014 to 2020.

The improvement in technology with regards to transportation war mix asphalt from Canada is expected to present market participants with growth opportunities over the next six years.

North America was the largest regional market for bitumen; with demand estimated at over USD 21.0 billion in 2013 and is expected to remain the leader over the next six years. The region is expected to be a key market, owing to the vast network of roads in the regions coupled with the implementation of MAP – 21 (Moving Ahead for Progress in 21st Century Act) which funds road development program for the U.S. over the next two years.

China and Asia Pacific are expected to outpace North America in terms of growth on account of the rapid infrastructure development in India, South Korea and China. The governments of these countries have special focus on road construction activities in their current five year plans, with the Chinese construction spending expected to grow at a CAGR of nearly 4.0% from 2014 to 2020.

The global bitumen market is fragmented with the top four companies accounting for less than 25% of the global market share. This is largely due to the logistic issues associated with bitumen making the presence of large number of domestic manufacturers inevitable.

Read detailed report or request for sample of this research report:
http://www.grandviewresearch.com/industry-analysis/bitumen-market/request

For the purpose of this study, Grand View Research has segmented the global bitumen market on the basis of application, product and region:

• Bitumen Application Outlook (Volume, Million tons; Revenue, USD Billion, 2012 – 2020)
          • Roadways
          • Adhesives
          • Waterproofing
          • Insulation
          • Others
• Bitumen Regional Outlook (Volume, Million tons; Revenue, USD Billion, 2012 – 2020)
          • North America
          • Europe
          • China
          • Asia Pacific (excluding China)
          • RoW

Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Web: www.grandviewresearch.com

Logo: http://www.abnewswire.com/pressreleases/wp-content/uploads/2016/03/1458295632.jpeg

“Grand View Research, Inc. – Market Research And Consulting.”

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: sales@grandviewresearch.com
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:28 2nd Street, Suite 3036
City: San Francisco
State: California
Country: United States
Website: http://www.grandviewresearch.com/industry-analysis/solvent-market

Source: ABNewswire

ReleaseID: 56674

Go Top