Bitumen Market to witness heavy growth prospects from adhesives segment over 2019-2025

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 bitumen market in 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 global bitumen market is expected to show an exponential growth curve with the rising road construction, maintenance, and repair activities. Bitumen, also known as asphalt is a necessary binder used in the road construction activities as the product offers high stickiness, viscosity, and superior water resistance properties. Bitumen is also utilized as a sealant and adhesive and finds huge demand in the construction of damns, water tanks, and bridges.

Polymer modified bitumen, one of most widely-used products of bitumen market, is used massively for numerous industrial applications and road surfacing. On these grounds, PMB market is expected to grow significantly over the next few years. Mixing PMB products with polymers strengthens them further, improving their elasticity and viscosity, and making them suitable for elevated stress applications and road constructions.

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.     Market estimates and forecast, 2014 – 2025

5.2.2.     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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