Global Bitumen Market

Bitumen Market Size By Product (Paving, Oxidized, Cutback, Emulsion, Polymer Modified), By Application (Roadways, Waterproofing, Adhesives, Insulation), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trend, Competitive Market Share & Forecast, 2016 – 2024

Industry Trends

Bitumen Market size generated USD 75 billion in 2015 and is forecast to witness 4.2% CAGR by 2024.
U.S. Bitumen Market size, by application, 2013 – 2024 (USD Billion)

Increasing government initiatives towards road development across the globe is analyzed to be the key factor propelling the global bitumen market size. The product is extensively used as a binder in the road construction. The U.S. road and highway construction sector generated revenue roughly around USD 100 billion in 2015 and will continue to grow at a steady rate till 2024. Furthermore, increasing global traffic in the emerging nations will require wider roads, which will consequently boost the bitumen market size substantially over the forecast timeframe. The product offers superior water resistance, high stickiness and viscosity, which makes it desirable in the road construction applications.
The product is also used as an adhesive and sealant. It is also extensively used in the water proofing of ships and boats owing to its water insoluble characteristics. In the construction sector, it is used in manufacturing water tanks, dams and bridges. Robust growth in construction industry on account of government initiatives to upgrade public infrastructure will positively influence the bitumen market size over the forecast timeframe. For instance, in 2013, the global construction spending was close to USD 7 trillion and is likely to touch USD 13 trillion over the projected period. Furthermore, it is also used in manufacturing battery, tire and for the thermal and acoustic insulation purposes. Growing paint & coatings sector on account of growing end user industries including automotive is another factor driving the industry growth. Paints manufactured with the product, provides superior corrosion and weatherproofing traits.
Stringent legislations by REACH regarding the product manufacturing and applications is likely to affect all the downstream producers as well as the end users. In addition, the product is derived from fractional distillation of crude oil. Therefore, oscillating crude oil prices may negatively impact on the bitumen market price trend by 2024. However, development of bio-based bitumen will create new growth prospects for the industry participants.
Product Trends

(PMB) Polymer modified bitumen market share is forecast to witness highest gains over the projected timeframe. PMB is extensively used in road surfacing and industrial applications. The addition of polymers in the product upscale its viscosity and elasticity, which makes the resultant product much more suitable for applications with elevated stresses.
Paving bitumen market is forecast to witness gains more than 2.5% CAGR over the estimated period the product is majorly used in the road and highway construction. The segment is analyzed to witness escalating gains mainly due to rapid road maintenance and construction across the globe. The product is also used in construction of railway beds, runways, bicycle paths, playgrounds, tennis courts, running tracks, barn floors and greenhouse floors.
Application Trends

Global bitumen market size for road construction dominated the global industry in 2015. Increasing population paired and upgraded living standards has significantly increased the global traffic across the globe, resulting in construction of wider roads and flyovers. This trend is analyzed to boost the industry growth over the projected timeframe.
Bitumen market share for waterproofing applications was valued at over USD 9 billion in 2015. The product is widely used in waterproofing applications such roofing and piping. Superior water resistance characteristics of the product makes it suitable to finds widespread applications across construction industry, owing to boost the business growth by 2024.

Regional Trends

North America dominated the global demand in 2015. Increasing government initiatives towards repair and redevelopment of the existing roads is the major factor stimulating the product demand in the region. Furthermore, increasing residential remodeling practices in the U.S. will subsequently boost the product demand for waterproofing applications over the forecast timeframe. Latin America and Middle East & Africa are forecast to experience promising gains by 2024 owing to increasing infrastructure development in the region.
Asia Pacific, mainly by China, India and Japan bitumen market size is forecast to experience gains close to 5% CAGR over the projected timeframe. Regional growth was mainly attributed by increasing construction spending in the region. With more number of cities coming up and rising consumer disposable income resulting in increasing number of private vehicles, the regional bitumen market share will experience escalating gains for road & highway construction by 2024. Furthermore, upcoming construction projects such as airports, in the region, will propel product demand for constructing runways.
Europe bitumen market size is slated to exceed 29 kilo tons by 2024.

Competitive Market Share

Global bitumen market share was competitive in 2015. Key market competitors are British Petroleum, Total S.A., Chevron Texaco Corporation, China Petroleum and Chemical Corporation, Indian Oil Corporation, Royal Dutch Shell Plc., JX Nippon Oil & Energy Corporation, Petroleos Mexicanos, Bouygues S.A., NuStar Energy, Villas Austria GmbH, Marathon Oil Corporation, Exxon Mobil Corporation and Nynas AB.
Various companies including Petróleos Mexicanos (PEMEX), Valero Energy Corporation, and Shell have their presence across multiple levels of the industry ecosystem with enhances their global presence.

Industry Background

The global bitumen market size is primarily driven by rising product application in road construction. The product is also used in paints & adhesives, which are extensively used in roofing applications. Roofing industry is one of the prominent growth drivers for the industry. Increasing temperature of the earth due to global warming will ultimately increase the rooftop insulation demand, which will subsequently boost the industry growth. However, fluctuating crude oil prices may obstruct business growth.

Table of Content

Chapter 1.      Methodology and Scope

1.1.    Research methodology

1.1.1.    Initial data exploration

1.1.2.    Statistical modeling and forecast

1.1.3.    Industry insights and validation

1.1.4.    Research scope & assumptions

1.2.    List of data sources

1.2.1.    Primary

1.2.2.    Secondary

Chapter 2.      Executive Summary

2.1.    Bitumen industry 3600 synopsis, 2013 – 2024

2.1.1.    Business trends

2.1.2.    Product trends

2.1.3.    Application trends

2.1.4.    Regional trends

Chapter 3.      Bitumen Industry Insights

3.1.    Industry segmentation

3.2.    Industry size, forecast and growth expectations, 2013 – 2024

3.3.    Industry ecosystem analysis

3.3.1.    Vendor Matrix

3.3.2.    Distribution channel analysis

3.4.    Bitumen industry dynamics

3.4.1.    Growth drivers

3.4.1.1. Increasing road construction

3.4.1.2. Robust growth in the construction industry

3.4.2.    Industry pitfalls & challenges

3.4.2.1. Environmental concerns associated with product extraction

3.4.2.2. Oscillating crude oil prices

3.5.    Key growth opportunities

3.6.    Porter’s analysis

3.7.    Company market share analysis, 2015

3.7.1.    Strategic landscape

3.8.    PESTEL analysis

3.9      Regional price trends

3.9.1.    Cost structure analysis

Chapter 4.      Bitumen Industry Product Insights

4.1.    Global bitumen market share by product, 2015 & 2024

4.2.    Paving Bitumen

4.2.1.    Market estimates and forecast, 2013 – 2024

4.2.2.    Market estimates and forecast, by region, 2013 – 2024

4.3.    Oxidized Bitumen

4.3.1.    Market estimates and forecast, 2013 – 2024

4.3.2.    Market estimates and forecast, by region, 2013 – 2024

4.4.    Cutback Bitumen

4.4.1.    Market estimates and forecast, 2013 – 2024

4.4.2.    Market estimates and forecast, by region, 2013 – 2024

4.5.    Bitumen Emulsion

4.5.1.    Market estimates and forecast, 2013 – 2024

4.5.2.    Market estimates and forecast, by region, 2013 – 2024

4.6.    Polymer Modified Bitumen (PMB)

4.6.1.    Market estimates and forecast, 2013 – 2024

4.6.2.    Market estimates and forecast, by region, 2013 – 2024

4.7.    Others

4.7.1.    Market estimates and forecast, 2013 – 2024

4.7.2.    Market estimates and forecast, by region, 2013 – 2024

Chapter 5       Bitumen Application Insights

5.1      Bitumen market share by application, 2015 & 2024

5.2      Roadways

5.2.1     Global market estimates and forecast, 2013 – 2024

5.2.2     Global market estimates and forecast, by region, 2013 – 2024

5.3      Waterproofing

5.3.1     Global market estimates and forecast, 2013 – 2024

5.3.2     Global market estimates and forecast, by region, 2013 – 2024

5.4      Adhesives

5.4.1     Global market estimates and forecast, 2013 – 2024

5.4.2     Global market estimates and forecast, by region, 2013 – 2024

5.5      Insulation

5.5.1     Global market estimates and forecast, 2013 – 2024

5.5.2     Global market estimates and forecast, by region, 2013 – 2024

5.6      Others

5.6.1     Global market estimates and forecast, 2013 – 2024

5.6.2     Global market estimates and forecast, by region, 2013 – 2024

Chapter 6       Bitumen Regional Insights

6.1      Bitumen market share by region, 2015 & 2024

6.2      North America

6.2.1     North America market estimates and forecast, 2013 – 2024

6.2.2     North America market estimates by product, 2013 – 2024

6.2.3     North America market estimates by application, 2013 – 2024

6.2.4     U.S.

6.2.4.1  U.S market estimates and forecast, 2013 – 2024

6.2.4.2  U.S. market estimates by product, 2013 – 2024

6.2.4.3  U.S. market estimates by application, 2013 – 2024

6.2.5     Canada

6.2.5.1  Canada market estimates and forecast, 2013 – 2024

6.2.5.2  Canada market estimates by product, 2013 – 2024

6.2.5.3  Canada market estimates by application, 2013 – 2024

6.3      Europe

6.3.1     Europe market estimates and forecast, 2013 – 2024

6.3.2     Europe market estimates by product, 2013 – 2024

6.3.3     Europe market estimates by application, 2013 – 2024

6.3.4     Germany

6.3.4.1  Germany market estimates and forecast, 2013 – 2024

6.3.4.2  Germany market estimates by product, 2013 – 2024

6.3.4.3  Germany market estimates by application, 2013 – 2024

6.3.5     UK

6.3.5.1  UK market estimates and forecast, 2013 – 2024

6.3.5.2  UK market estimates by product, 2013 – 2024

6.3.5.3  UK market estimates by application, 2013 – 2024

6.3.6     France

6.3.6.1  France market estimates and forecast, 2013 – 2024

6.3.6.2  France market estimates by product, 2013 – 2024

6.3.6.3  France market estimates by application, 2013 – 2024

6.3.7     Spain

6.3.7.1  Spain market estimates and forecast, 2013 – 2024

6.3.7.2  Spain market estimates by product, 2013 – 2024

6.3.7.3  Spain market estimates by application, 2013 – 2024

6.3.8     Italy

6.3.8.1  Italy market estimates and forecast, 2013 – 2024

6.3.8.2  Italy market estimates by product, 2013 – 2024

6.3.8.3  Italy market estimates by application, 2013 – 2024

6.4      Asia Pacific

6.4.1     Asia Pacific market estimates and forecast, 2013 – 2024

6.4.2     Asia Pacific market estimates by product, 2013 – 2024

6.4.3     Asia Pacific market estimates by application, 2013 – 2024

6.4.4     China

6.4.4.1  China market estimates and forecast, 2013 – 2024

6.4.4.2  China market estimates by product, 2013 – 2024

6.4.4.3  China market estimates by application, 2013 – 2024

6.4.5     India

6.4.5.1  India market estimates and forecast, 2013 – 2024

6.4.5.2  India market estimates by product, 2013 – 2024

6.4.5.3  India market estimates by application, 2013 – 2024

6.4.6     Japan

6.4.6.1  Japan market estimates and forecast, 2013 – 2024

6.4.6.2  Japan market estimates by product, 2013 – 2024

6.4.6.3  Japan market estimates by application, 2013 – 2024

6.4.7     Australia

6.4.7.1  Australia market estimates and forecast, 2013 – 2024

6.4.7.2  Australia market estimates by product, 2013 – 2024

6.4.7.3  Australia market estimates by application, 2013 – 2024

6.4.8     Indonesia

6.4.8.1  Indonesia market estimates and forecast, 2013 – 2024

6.4.8.2  Indonesia market estimates by product, 2013 – 2024

6.4.8.3  Indonesia market estimates by application, 2013 – 2024

6.4.9     Malaysia

6.4.9.1  Malaysia market estimates and forecast, 2013 – 2024

6.4.9.2  Malaysia market estimates by product, 2013 – 2024

6.4.9.3  Malaysia market estimates by application, 2013 – 2024

6.5      Latin America (LATAM)

6.5.1     Latin America market estimates and forecast, 2013 – 2024

6.5.2     Latin America market estimates by product, 2013 – 2024

6.5.3     Latin America market estimates by application, 2013 – 2024

6.5.4     Brazil

6.5.4.1  Brazil market estimates and forecast, 2013 – 2024

6.5.4.2  Brazil market estimates by product, 2013 – 2024

6.5.4.3  Brazil market estimates by application, 2013 – 2024

6.5.5     Mexico

6.5.5.1  Mexico market estimates and forecast, 2013 – 2024

6.5.5.2  Mexico market estimates by product, 2013 – 2024

6.5.5.3  Mexico market estimates by application, 2013 – 2024

6.6      Middle East & Africa (MEA)

6.6.1     MEA market estimates and forecast, 2013 – 2024

6.6.2     MEA market estimates by product, 2013 – 2024

6.6.3     MEA market estimates by application, 2013 – 2024

6.6.4     South Africa

6.6.4.1  South Africa market estimates and forecast, 2013 – 2024

6.6.4.2  South Africa market estimates by product, 2013 – 2024

6.6.4.3  South Africa market estimates by application, 2013 – 2024

6.6.5     GCC

6.6.5.1  GCC market estimates and forecast, 2013 – 2024

6.6.5.2  GCC market estimates by product, 2013 – 2024

6.6.5.3  GCC market estimates by application, 2013 – 2024

Chapter 7       Company Profiles

7.1      British Petroleum

7.1.1     Business Overview

7.1.2     Financial Data

7.1.3     Product Landscape

7.1.4     Strategic Outlook

7.2      Total S.A

7.2.1     Business Overview

7.2.2     Financial Data

7.2.3     Product Landscape

7.2.4     Strategic Outlook

7.3      Chevron Texaco Corporation

7.3.1     Business Overview

7.3.2     Financial Data

7.3.3     Product Landscape

7.4      Valero Energy Corporation

7.4.1     Business Overview

7.4.2     Financial Data

7.4.3     Product Landscape

7.4.4     Strategic Outlook

7.5      China Petroleum and Chemical Corporation

7.5.1     Business Overview

7.5.2     Financial Data

7.5.3     Product Landscape

7.5.4     Strategic Outlook

7.6      Indian Oil Corporation

7.6.1     Business Overview

7.6.2     Financial Data

7.6.3     Product Landscape

7.6.4     Strategic Outlook

7.7      Royal Dutch Shell Plc

7.7.1     Business Overview

7.7.2     Financial Data

7.7.3     Product Landscape

7.7.4     Strategic Outlook

7.8      JX Nippon Oil & Energy Corporation

7.8.1     Business Overview

7.8.2     Financial Data

7.8.3     Product Landscape

7.8.4     Strategic Outlook

7.9      Petroleos Mexicanos

7.9.1     Business Overview

7.9.2     Financial Data

7.9.3     Product Landscape

7.9.4     Strategic Outlook

7.10      Bouygues S.A.

7.10.1   Business Overview

7.10.2   Financial Data

7.10.3   Product Landscape

7.10.4   Strategic Outlook

7.11      NuStar Energy

7.11.1   Business Overview

7.11.2   Financial Data

7.11.3   Product Landscape

7.11.4   Strategic Outlook

7.12      Villas Austria GmbH

7.12.1   Business Overview

7.12.2   Financial Data

7.12.3   Product Landscape

7.12.4   Strategic Outlook

7.13      Marathon Oil Corporation

7.13.1   Business Overview

7.13.2   Financial Data

7.13.3   Product Landscape

7.13.4   Strategic Outlook

7.14      Exxon Mobil Corporation

7.14.1   Business Overview

7.14.2   Financial Data

7.14.3   Product Landscape

7.14.4   Strategic Outlook

7.15      Nynas AB.

7.15.1   Business Overview

7.15.2   Financial Data

7.15.3   Product Landscape

7.15.4   Strategic Outlook

7.16      Kraton Corporation

7.16.1   Business Overview

7.16.2   Financial Data

7.16.3   Product Landscape

7.16.4   Strategic Outlook

 

Industry Coverage

Global Bitumen Product Analysis (Volume: Kilo Tons; Revenue: USD Million, 2013 – 2024)

  • Paving Bitumen
  • Oxidized Bitumen
  • Cutback Bitumen
  • Bitumen Emulsion
  • Polymer Modified Bitumen (PMB)
  • Others

Global Bitumen Application Analysis (Volume: Kilo Tons; Revenue: USD Million, 2013 – 2024)

  • Roadways
  • Waterproofing
  • Adhesives
  • Insulation
  • Others

Global Bitumen Regional Analysis (Volume: Kilo Tons; Revenue: USD Million, 2013 – 2024)

  • North America bitumen market by product
    • Paving Bitumen
    • Oxidized Bitumen
    • Cutback Bitumen
    • Bitumen Emulsion
    • Polymer Modified Bitumen (PMB)
    • Others
  • North America bitumen market by application
    • Roadways
    • Waterproofing
    • Adhesives
    • Insulation
    • Others
      • U.S bitumen market by product
        • Paving Bitumen
        • Oxidized Bitumen
        • Cutback Bitumen
        • Bitumen Emulsion
        • PMB
        • Others
      • U.S bitumen market by application
        • Roadways
        • Waterproofing
        • Adhesives
        • Insulation
        • Others
      • Canada bitumen market by product
        • Paving Bitumen
        • Oxidized Bitumen
        • Cutback Bitumen
        • Bitumen Emulsion
        • PMB
        • Others
      • Canada bitumen market by application
        • Roadways
        • Waterproofing
        • Adhesives
        • Insulation
        • Others
  • Europe bitumen market by product
    • Paving Bitumen
    • Oxidized Bitumen
    • Cutback Bitumen
    • Bitumen Emulsion
    • Polymer
    • Others
  • Europe bitumen market by application
    • Roadways
    • Waterproofing
    • Adhesives
    • Insulation
    • Others
      • Germany bitumen market by product
        • Paving Bitumen
        • Oxidized Bitumen
        • Cutback Bitumen
        • Bitumen Emulsion
        • PMB
        • Others
      • Germany bitumen market by application
        • Roadways
        • Waterproofing
        • Adhesives
        • Insulation
        • Others
      • UK bitumen market by product
        • Paving Bitumen
        • Oxidized Bitumen
        • Cutback Bitumen
        • Bitumen Emulsion
        • PMB
        • Others
      • UK bitumen market by application
        • Roadways
        • Waterproofing
        • Adhesives
        • Insulation
        • Others
      • France bitumen market by product
        • Paving Bitumen
        • Oxidized Bitumen
        • Cutback Bitumen
        • Bitumen Emulsion
        • PMB
        • Others
      • France bitumen market by application
        • Roadways
        • Waterproofing
        • Adhesives
        • Insulation
        • Others
      • Spain bitumen market by product
        • Paving Bitumen
        • Oxidized Bitumen
        • Cutback Bitumen
        • Bitumen Emulsion
        • PMB
        • Others
      • Spain bitumen market by application
        • Roadways
        • Waterproofing
        • Adhesives
        • Insulation
        • Others
      • Italy bitumen market by product
        • Paving Bitumen
        • Oxidized Bitumen
        • Cutback Bitumen
        • Bitumen Emulsion
        • PMB
        • Others
      • Italy bitumen market by application
        • Roadways
        • Waterproofing
        • Adhesives
        • Insulation
        • Others
  • Asia Pacific bitumen market by product
    • Paving Bitumen
    • Oxidized Bitumen
    • Cutback Bitumen
    • Bitumen Emulsion
    • Polymer
    • Others
  • Asia Pacific bitumen market by application
    • Roadways
    • Waterproofing
    • Adhesives
    • Insulation
    • Others
      • China bitumen market by product
        • Paving Bitumen
        • Oxidized Bitumen
        • Cutback Bitumen
        • Bitumen Emulsion
        • PMB
        • Others
      • China bitumen market by application
        • Roadways
        • Waterproofing
        • Adhesives
        • Insulation
        • Others
      • India bitumen market by product
        • Paving Bitumen
        • Oxidized Bitumen
        • Cutback Bitumen
        • Bitumen Emulsion
        • PMB
        • Others
      • India bitumen market by application
        • Roadways
        • Waterproofing
        • Adhesives
        • Insulation
        • Others
      • Japan bitumen market by product
        • Paving Bitumen
        • Oxidized Bitumen
        • Cutback Bitumen
        • Bitumen Emulsion
        • PMB
        • Others
      • Japan bitumen market by application
        • Roadways
        • Waterproofing
        • Adhesives
        • Insulation
        • Others
      • Australia bitumen market by product
        • Paving Bitumen
        • Oxidized Bitumen
        • Cutback Bitumen
        • Bitumen Emulsion
        • PMB
        • Others
      • Australia bitumen market by application
        • Roadways
        • Waterproofing
        • Adhesives
        • Insulation
        • Others
      • Indonesia bitumen market by product
        • Paving Bitumen
        • Oxidized Bitumen
        • Cutback Bitumen
        • Bitumen Emulsion
        • PMB
        • Others
      • Indonesia bitumen market by application
        • Roadways
        • Waterproofing
        • Adhesives
        • Insulation
        • Others
      • Malaysia bitumen market by product
        • Paving Bitumen
        • Oxidized Bitumen
        • Cutback Bitumen
        • Bitumen Emulsion
        • PMB
        • Others
      • Malaysia bitumen market by application
        • Roadways
        • Waterproofing
        • Adhesives
        • Insulation
        • Others
  • LATAM bitumen market by product
    • Paving Bitumen
    • Oxidized Bitumen
    • Cutback Bitumen
    • Bitumen Emulsion
    • Polymer
    • Others
  • LATAM bitumen market by application
    • Roadways
    • Waterproofing
    • Adhesives
    • Insulation
    • Others
      • Brazil bitumen market by product
        • Paving Bitumen
        • Oxidized Bitumen
        • Cutback Bitumen
        • Bitumen Emulsion
        • PMB
        • Others
      • Brazil bitumen market by application
        • Roadways
        • Waterproofing
        • Adhesives
        • Insulation
        • Others
      • Mexico bitumen market by product
        • Paving Bitumen
        • Oxidized Bitumen
        • Cutback Bitumen
        • Bitumen Emulsion
        • PMB
        • Others
      • Mexico bitumen market by application
        • Roadways
        • Waterproofing
        • Adhesives
        • Insulation
        • Others
  • MEA bitumen market by product
    • Paving Bitumen
    • Oxidized Bitumen
    • Cutback Bitumen
    • Bitumen Emulsion
    • Polymer
    • Others
  • MEA bitumen market by application
    • Roadways
    • Waterproofing
    • Adhesives
    • Insulation
    • Others
      • South Africa bitumen market by product
        • Paving Bitumen
        • Oxidized Bitumen
        • Cutback Bitumen
        • Bitumen Emulsion
        • PMB
        • Others
      • South Africa bitumen market by application
        • Roadways
        • Waterproofing
        • Adhesives
        • Insulation
        • Others
      • GCC bitumen market by product
        • Paving Bitumen
        • Oxidized Bitumen
        • Cutback Bitumen
        • Bitumen Emulsion
        • PMB
        • Others
      • GCC bitumen market by application
        • Roadways
        • Waterproofing
        • Adhesives
        • Insulation
        • Others

 

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