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Published Date: 2014-09-09Number of Pages: 102

Bitumen Market (Product - Paving Bitumen, Oxidized Bitumen, Cutback Bitumen, Bitumen Emulsion, Polymer Modified Bitumen, and Bitumen Formed Due to Addition of Zinc and Copper; Application - Roadways, Waterproofing, Adhesives, Insulation, Decorative, and Industrial) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 - 2020

Global Bitumen Market: Overview

The global bitumen market is projected to stand on the rising infrastructure activities in both developed and emerging countries. Most of these activities are carried out for the purpose of improving road networks. Over a period of six years, the global market is anticipated to drive a colossal demand with an augment in construction activities pertinent to housing and development, commercial installations, and industrial enhancement. The demand is expected to swell further as the polymer modified bitumen (PMB) application segment gains prominence in the role of chemical additives and adhesives used in road and household construction.

The international bitumen market is foreseen to reach 129,673.2 kilo tons by the end of the forecast period 2014-2020. In 2016, the international market stood at 116,338.7 kilo tons. It is anticipated that the usage of substitutes such as concrete could cut back the growth of the market. However, with the advancement of bio-based bitumen and new corresponding opportunities, this threat is expected to thin out.

PMB to Draw Promising Demand in Future

By product type, the worldwide bitumen market is categorized into different segments, out of which, paving grade bitumen had made a statement in 2016. Paving bitumen displayed a demand of more than 80,000 kilo tons in the same year, outshining other products in the market. With a few of the Asian and European countries getting involved in the Silk Route reconstruction, the paving bitumen market is expected to be strengthened. Moreover, developed regions such as the U.K. and the U.S. making progress with maintenance and reconstruction activities are adding to the demand. The elevating interest in road development taken by India, China, and Brazil is also envisaged to contribute to the rise of the paving bitumen segment.

Howbeit, PMB products are foretold to penetrate the global bitumen market at a remarkable pace on the back of the inflating demand in the roofing and road construction applications. As these products help to enhance the performance of roadways and waterproofing applications and allow heating at low temperatures, the PMB market is expected to gain further impetus.

Oxidized bitumen, cutback bitumen, bitumen emulsion, and bitumen formed due to the addition of zinc and copper are the other significant products prevailing in the global market.

While there are numerous applications of bitumen, its application in road construction is anticipated to take hold of a colossal share of more than 80.0% in the global bitumen market by 2020. Much of the demand in the roadways application segment is accounted to the high viscosity and stickiness attributes of bitumen. The waterproofing market is predicted to grow at a sharp pace while riding on infrastructure development activities in emerging nations such as India and China.

Other segments that hold prominence in the global bitumen market are adhesives, insulation, decorative, and industrial applications.

Significant Global Consumption Accredited to North America

With a cosmic network of roads in the U.S., the North America region had made itself noticeable in 2016 by consuming bitumen at a larger volume of over 38,000 kilo tons. The region primarily consumes bitumen during the repair and redevelopment of the existing roads. Asia Pacific and other developing regions, contrastingly, consume bitumen for the development of new infrastructure. Asia Pacific, including China, is expecting significant infrastructure development in the forthcoming years. This has no doubt led to the anticipation of the Asia Pacific market to emerge as a rapidly expanding segment during the forecast period on the back of extensive industrialization.

NuStar Energy, Marathon Oil Company, Shell Bitumen, ExxonMobil, and Valero Energy Corporation are some of the dominant companies making a mark in the global bitumen market. In 2013, the top eight players in the global market had accounted for a total share of almost 39.0%, reflecting the highly fragmented nature of the market.

Bitumen is a dark, highly viscous and sticky substance derived from crude oil through fractional distillation. It is primarily used as a binder in road construction. Bitumen is also known as “asphalt” in North America. It is also used in other applications such as electronics, roofing and adhesives due to its resistance to water, insulation properties and high durability. Properties of bitumen can be altered by adding polymers to it, thus increasing its application scope. There are several types of bitumen available in the global market such as cutback bitumen, oxidized bitumen, polymer modified bitumen (PMB) and bitumen emulsion. Additionally, bitumen is available as hard or soft grades depending on the viscosity. Furthermore, warm mix bitumen, hot mix bitumen and cold mix bitumen are the different types of bitumen available in the market. They are named mix bitumen, hot mix bitumen and cold mix bitumen depending upon the different temperatures required to melt bitumen for applications. 
 
The report on bitumen market has been segmented into various chapters. Under each chapter, we have tackled the different aspects of the market and provided an analysis on various parameters. Preface provides a brief diagrammatic representation on the segmentation of the bitumen market. Additionally, the chapter provides a detailed description of the methodology used for research along with the scope and assumptions used in estimating as well as analyzing the future market growth.
 
We have included an executive summary that includes a brief summary regarding the trends of the market. We have also included a snapshot of the market; it provides the current scenario as well as growth opportunities for the market at the end of the forecast period.
 
Industry analysis provides an insight on the drivers and restraints of the bitumen market and their impact on the growth of the market during the mentioned forecast period. Additionally, the study includes opportunities available for the market on a regional and global level and its effect during the forecast period. We have provided a detailed analysis of the value chain for better understanding of the bitumen market. Moreover, a detailed analysis of the Porters five forces model has been provided for better understanding of the intensity of competition in the market. Furthermore, the study comprises a market attractiveness analysis, where applications are benchmarked based on their market scope, growth rate and general attractiveness. A detailed analysis of key players’ market share in the industry has been included to represent the nature of the market.
 
Product segment analysis provides forecast for the bitumen market on the global level for various product types of bitumen. The market has been estimated in terms of volume (kilo tons) and forecast for the period from 2014 to 2020. Furthermore, application segments have been analyzed and forecast on current trends on the global and regional level from 2014 to 2020. Geographically, the market has been segmented into North America, Europe, China, Asia Pacific (excluding China) and Rest of the World. Analysis and forecast is based on current trends and ranges over a period from 2014 to 2020. 
 
Detailed profiles of certain leading companies are provided in the report along with a detailed analysis of their market share. Leading companies in the market include Shell Bitumen, NuStar Energy, ExxonMobil, Marathon Oil Company, Valero Energy Corporation and Nynas AB. Company profiles include attributes such as company overview, financial overview, SWOT analysis, business strategies and recent developments. 
 
The market has been segmented as below:
Bitumen Market – Product Segment Analysis
  • Paving grade bitumen
  • Oxidized bitumen
  • Cutback bitumen
  • Bitumen emulsion
  • Polymer Modified Bitumen (PMB)
  • Others (including bitumen formed due to addition of zinc, copper, etc.)
Bitumen Market – Application Analysis
  • 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 applications)
Bitumen Market – Regional Analysis
  • North America
  • Europe
  • China
  • Asia Pacific (Excluding China)
  • Rest of World (RoW)


 
 
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