- Increase in demand for bitumen for different applications such as roofing, adhesives, and electronics, owing to its insulation properties, high durability, and water resistance is boosting sales prospects in the market
ALBANY N.Y., March 24, 2022 (GLOBE NEWSWIRE) -- Companies in the global bitumen market are strengthening their production capabilities in bituminous macadam (BM), which include crushed aggregates and bituminous binder mixed and heated at definite temperature in a hot mix plant. Analysts at Transparency Market Research (TMR) expect the global bitumen market to expand at a CAGR of 4.1% over the forecast period of 2021 to 2031.
Polymer modified bitumen (PMB) is known for resisting deformation and improving the fatigue performance. As a result, government authorities of many nations are increasing the use of PMB in different road development projects in order to create pavements that offer prolonged service life. Companies operating in the global bitumen market are capitalizing on these opportunities and increasing the production of PMBs. Moreover, they are focused on the development of products that meet the safety standards laid down by governments as well as road authorities of different nations. Increase in the use of PMB due to its different properties such as high porosity, low noise, and high skid resistance is resulting in lucrative prospects for bitumen manufacturers.
Many companies in the bitumen market are offering advanced bitumen solutions that are used in combination with asphalts in order to develop textured and colored asphalt, and provide advanced skid resistance.
Get PDF Brochure for More Insights – https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=295
Bitumen Market: Key Findings
- Bitumen is being linked to purified lignin that can help in the manufacturing of bio-bitumen. Enterprises in the bitumen market are taking inspiration from Indian companies and scientists in order to develop innovative bio-bitumen products.
- Players are focused on increasing research in order to develop proprietary procedures that help in converting crude lignin into bio-bitumen, which is considered to be a possible solution that can replace fossil-based bitumen and boost the availability for environmental-friendly bitumen
- Due to viscoelastic and binding properties of bio-bitumen, they are being highly used in applications of asphalt. Such innovations are prognosticated to aid in the expansion of the global bitumen market in the upcoming years.
Get Covid 19 Analysis - https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=295
Bitumen Market: Growth Boosters
- Rise in the number of road construction projects in many developing nations globally is leading to revenue-generation opportunities in the global bitumen market
- Increase in need of new bus stops, cycle paths, and bus lanes across the globe, owing to a surge in the global population is boosting the demand opportunities in the market
Request a Sample – https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=295
Bitumen Market: Regional Analysis
- The bitumen market in Asia Pacific is projected to gain prominent sales prospects on the back of rising infrastructure development activities in the region
- Players in the bitumen market are expected to gain lucrative opportunities in North America due to increase in number of redevelopment projects and repair of present roads in the U.S.
Bitumen Market: Competition Landscape
- Players in the global bitumen market are increasing research toward the development of cost-efficient materials with the ability to withstand in higher temperatures
- Companies are educating end users about the advantages and disadvantages of bitumen and asphalt
- Many enterprises operating in the global bitumen market are strengthening their supply chains amid the COVID-19 pandemic and focusing on important sectors such as roadways development and waterproofing & adhesives applications in order to maintain their revenue streams during the pandemic
Make an Enquiry Before Buying - https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=295
Bitumen Market: Key Players
Some of the key players profiled in the report are:
- Marathon Oil Company
- NuStar Energy
- ExxonMobil
- Shell Bitumen
- Valero Energy Corporation
Bitumen Market Segmentation
Product
- Paving Grade Bitumen
- Oxidized Bitumen
- Cutback Bitumen
- Bitumen Emulsion
- Polymer Modified Bitumen (PMB)
- Others (including bitumen formed due to addition of zinc, copper, etc.)
Application
- Roadways
- Hard Grade
- Soft Grade
- Polymer Modified Bitumen (PMB)
- Waterproofing (Roofing)
- Hard Grade
- Soft Grade
- Polymer Modified Bitumen (PMB)
- Adhesive
- Insulation
- Others (including Decorative and Industrial)
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Chemicals & Materials Industry battles Tangible Impact of Economic and Cultural changes, Explore Transparency Market Research’s award-winning coverage of the global Chemicals & Materials:
Electrochromic Polymers Market - https://www.transparencymarketresearch.com/electrochromic-polymers-market.html
Isoamyl Alcohol Market - https://www.transparencymarketresearch.com/isoamyl-alcohol-market.html
About Transparency Market Research
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
For More Research Insights on Leading Industries, Visit our YouTube channel - https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ
Contact
Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com
Press Release Source: https://www.transparencymarketresearch.com/pressrelease/bitumen-market.htm
