DUBLIN--(BUSINESS WIRE)--The "Global
Bitumen Market - Segmented by Product Type, Application, and Geography -
Growth, Trends and Forecast (2018 - 2023)" report has been
added to ResearchAndMarkets.com's offering.
The bitumen market is expected to witness a CAGR of 4% during the forecast period, 2018-2023.
Asphalt bitumen is widely used as the binding organic material, which is made from the by-products of refined crude oil. Asphalt bitumen is used in road construction as it is easy to produce, reusable, non-toxic, and a strong binder. The road construction sector has been witnessing a strong growth, which has been driving the demand in the bitumen market. In Europe, the road building market is expected to have a strong growth up to 2019.
By application, road construction is expected to dominate the market demand for bitumen. Recently, China has come up with China's Belt and Road Initiative, which aims to connect Asia, Europe, and the Middle East & Africa with a vast logistics and transport network, using roads, airports, railway tracks, ports, pipelines, transnational electric grids, and even fiber optic lines.
Asia-Pacific is projected to dominate the bitumen market, owing to the booming construction industry and increasing public infrastructure projects in the region. India in its 2018 budget, allotted INR 21,453.42 crore out of INR 71,000 crore budgetary allocation to the Highways Ministry for work under the road wing. It includes expenditure on development of National Highways, including projects relating to expressways, two-laning of highways, under the National Highways Development Project, six-laning of crowded stretches of the Golden Quadrilateral, a special programme for the development of road connectivity in Naxal affected areas, development of VijaywadaRanchi road, and for providing last mile connectivity. In February 2018, Philippines and Japan signed a YEN 9.4 billion loan for the construction of the third phase of a road project in Bulacan.
- Bouygues S.A.
- British Petroleum
- China Petroleum and Chemical Corporation
- Exxon Mobil Corporation
- Icopal Group
- Indian Oil Corporation
- JX Nippon Oil & Energy Corporation
- Kraton Corporation
- Marathon Oil Company
- NuStar Energy
- Nynas AB
- Petroleos Mexicanos
- Shell Bitumen
- Suncor Energy Inc.
Key Topics Covered:
2. Executive Summary
3. Market Insights
4. Market Dynamics
5. Market Segmentation and Analysis
6. Regional Market Analysis
7. Competitive Landscape
8. Company Profiles
9. Future of the Market
For more information about this report visit https://www.researchandmarkets.com/research/z3s3gx/global_bitumen?w=4