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APAC Bitumen Market size to reach $60 Bn by 2027
Published Date: 2021-04-29
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APAC Bitumen Market size is expected to cross USD 60 billion by 2027, according to a latest forecast report by Graphical Research.
The APAC bitumen industry growth is due to the rising regional construction and infrastructure industries. Bitumen is a complex hydrocarbon and is primarily used for road construction. It is widely consumed as a binder in road construction materials such as aggregates, stones, etc. The product is also used in the waterproofing and adhesives industries due to its natural properties.
Asian countries are spending heavily on building the state of the art transport infrastructure to increase connectivity and facilitate trade activities. Increasing public and private investments in road infrastructure in emerging economies will drive the market demand. The presence of a high-speed road network improves a country’s connectivity. Increasing road-building activities within regional economies will augment the market revenue.
Browse detailed statistical insights from the report, “Asia Pacific Bitumen Market Size By Product (Paving, Oxidized, Cutback, Emulsion, Polymer Modified), Application (Roadways, Waterproofing, Adhesives, Insulation), Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 – 2027” along with the table of contents (ToC) @
The bitumen market is gaining momentum owing to its ability to durable pavements. Pavements are engineered, designed, and constructed for extreme weather conditions and heavy-duty traffic conditions. Change in the characteristics of normal bitumen by adding polymer helps in enhancing its properties by making it more elastomeric, strong, and flexible.
Cutback asphalt is manufactured from asphalt cement and petroleum solvent. Due to reduced asphalt viscosity, cutbacks can be used for lower temperature uses and cold weather bituminous road construction & maintenance. The rapidly rising population across APAC and increasing income levels will augment market demand from waterproofing and adhesive applications.
The adhesives segment is anticipated to expand at a CAGR of 4.3% from 2021 to 2027. Cold adhesives contain bitumen, fillers, solvents, fibers, and stabilizers. Some products also contain polymers such as SBS. Solvent weld is formed by the bonding of adhesives with the modified-bitumen surface after solvent evaporation.
The Asia Pacific market is moderately fragmented with the presence of several multinational corporations. Market competition is expected to increase due to the rising number of product manufacturers. Some of the major players are Indian Oil Corporation Limited, Royal Dutch Shell, Total S.A., and Exxon Mobil Corporation, among others.
The Asia Pacific bitumen market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2016 to 2027 for the following segments:
Asia Pacific Market, By Product
- Oxidized Bitumen
- Cutback Bitumen
- Bitumen Emulsion
Asia Pacific Market, By Application
The above information has been provided for the following countries:
- Asia Pacific
- South Korea