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European Bitumen Market size to cross $18.27 Bn by 2027
Published Date: 2021-04-27
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European Bitumen Market size is poised to reach USD 18.27 billion by 2027, according to a latest forecast report by Graphical Research.
The European market growth is owing to the rising demand for the product in the infrastructural industry. Bitumen is a viscous black mixture of hydrocarbons, which is obtained naturally or as a byproduct of petroleum distillation. It is widely used as a glue or binder in road construction, where it is combined with aggregate particles to make asphalt concrete. Other uses include waterproofing products in the production of roofing felt and for sealing flat roofs. It is widely used in roadways, waterproofing, adhesives, insulation, etc. The rising use of PMB in the construction industry to prevent damp walls and leakages will further drive the market expansion.
High government and private spending are being seen in European countries to construct and expand roads in order to increase connectivity across the continent and thus facilitate trade activities. It is projected that over 90% of the 5.2 million km or 3.2 million mi of paved roads & highways are surfaced with asphalt in Europe. The presence of high-speed road networks in the region across borders to provide connectivity among different countries of the European Union as well as the Eurasian Economic Union will signify the regional market growth.
Browse detailed statistical insights from the report, “Europe Bitumen Market Size By Application (Roadways, Waterproofing, Adhesives, Insulation), By Product (Paving, Oxidized, Cutback, Emulsion, Polymer Modified), Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 – 2027” along with the table of contents (ToC) @
Bitumen products have been providing innovative solutions to key social issues such as road safety, integration of roads in urban & rural landscapes, along with its suitability for various geographical & climatic conditions. These are completely supported by the expertise and experience of manufacturers who deliver high-performance products with durable, sustainable, and safe solutions for the development of roads. Furthermore, recent developments in the modern infrastructure industry have enhanced new potential uses of bitumen. Polymer modified bitumen has witnessed significant popularity in the past three decades for modification of bitumen used for road development as well as building & construction. Different types of polymers are used to enhance the quality and durability of bitumen.
Increasing population coupled with advanced living standard has significantly given rise to global traffic leading to the construction of a number of flyovers and heavy-duty roads along with the widening of existing roadways. Bituminous waterproofing is formulated to safeguard residential & commercial establishments. They are used to build roofs such as roofing felt or roll roofing products. The use of bituminous products in road development and paving increases deformation resistance at high temperatures, prevents low temperature cracking, improves water resistance, and ultimately saves the overall road & pavement life cost.
Some of the prominent players operating in the Europe bitumen market are Royal Dutch Shell, Total S.A., Nynas AB, Chevron Corporation, Valero Energy Corporation, Exxon Mobil Corporation, China Petroleum and Chemical Corporation, Bouygues SA, Villas Austria GmbH, and Gazprom Neft, among others.
The European 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:
Europe Market, By Product
- Oxidized Bitumen
- Cutback Bitumen
- Bitumen Emulsion
Europe Market, By Application
The above information has been provided for the following countries: