Dublin, Sept. 19, 2023 (GLOBE NEWSWIRE) -- The "Bitumen: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Bitumen Market to Reach $112.9 Billion by 2030
The global market for Bitumen estimated at US$92.4 Billion in the year 2022, is projected to reach a revised size of US$112.9 Billion by 2030, growing at a CAGR of 2.5% over the analysis period 2022-2030.
This comprehensive analysis covers a broad spectrum of bitumen market aspects, including recent, current, and future trends in bitumen sales across various geographic regions from 2022 to 2030. It also provides historical insights into bitumen market dynamics from 2014 to 2021 and offers a forward-looking 16-year perspective, encompassing 2014, 2023, and 2030.
Additionally, the analysis delves into specific bitumen product categories, such as paving grade bitumen, oxidized bitumen, cutback bitumen, bitumen emulsion, polymer modified bitumen (PMB), and other product types. The assessment includes a thorough examination of annual sales trends measured in US$ Million, offering valuable insights into the bitumen market's past, present, and future trajectories.
Paving Grade Bitumen, one of the segments analyzed in the report, is projected to record 2.5% CAGR and reach US$78.6 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Oxidized Bitumen segment is readjusted to a revised 3.1% CAGR for the next 8-year period.
The U.S. Market is Estimated at $24.6 Billion, While China is Forecast to Grow at 4.6% CAGR
The Bitumen market in the U.S. is estimated at US$24.6 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$23.7 Billion by the year 2030 trailing a CAGR of 4.6% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.6% and 1.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 1.1% CAGR.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 187 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $92.4 Billion |
| Forecasted Market Value (USD) by 2030 | $112.9 Billion |
| Compound Annual Growth Rate | 2.5% |
| Regions Covered | Global |
Market Overview
- Influencer Market Insights
- World Market Trajectories
- Bitumen - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Impact of Covid-19 and a Looming Global Recession
A selection of companies mentioned in this report includes
- Bouygues SA
- BP PLC
- Chevron Corporation
- China Petroleum & Chemical Corporation (SINOPEC)
- Exxon Mobil Corporation
- Indian Oil Corporation Ltd.
- JX Nippon Oil & Energy Corporation
- Marathon Petroleum Company LP
- NuStar Energy LP
- Nynas AB
- Petroleos Mexicanos
- Shell International B.V.
- Valero Energy Corporation
For more information about this report visit https://www.researchandmarkets.com/r/9x6fel
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