Market Overview

The Global Bitumen Market was valued at USD 55,595.7 million in 2023 and is expected to reach USD 73,209.0 million by 2031 while growing at a CAGR of 3.5% during the forecast period (2024-2031). 

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Market Dynamics

This section of the report will analyze various driving and restraining factors that are expected to have a significant impact on the global bitumen market growth. Bitumen, also known as asphalt, is a black, highly viscous byproduct of crude oil refining, composed of complex hydrocarbons. It plays a crucial role in the construction and infrastructure industries, serving as a key component in asphalt production for road construction, waterproofing, and various industrial applications.

Increasing road construction, maintenance, and infrastructure development drive the bitumen market's growth. Nevertheless, challenges such as fluctuating crude oil prices and environmental concerns could hinder market expansion.

Furthermore, the global bitumen industry will be analyzed through various tools including PESTLE analysis, and Porter’s analysis.

Segmentation – By Product Type Analysis

The Global Bitumen Market is segmented among Paving Grade, Hard Grade, Oxidized Grade, Bitumen Emulsions, Polymer Modified Bitumen, and Other Product Types, based on Product Type. In 2023, Paving Grade accounted for the majority of the market share*. 

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Segmentation – By Application Analysis

The Global Bitumen Market is segmented among Road Construction, Waterproofing, Adhesives, and Other Applications, based on Application. In 2023, Road Construction accounted for the majority of the market share*. 

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Global Bitumen Market: Regional Analysis

Based on region, the market is divided into six regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2023, Asia Pacific dominated the market with the highest market share, while North America is expected to grow with the highest CAGR during the forecast period (2024 – 2031). 

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Competitive Landscape

Some of the key players operating in the market are Bouygues, BP PLC, China Petroleum & Chemical Corporation, Exxon Mobil Corporation, Icopal ApS, Indian Oil Corporation Ltd, JXTG Nippon Oil & Energy Corporation, KRATON CORPORATION, Marathon Oil Company, and Nynas AB.

Table of Contents:

1. Research Methodology and Market Scope

• Research Methodology

• Market Scope

2. Executive Summary

3. Global Bitumen Market Dynamics

• Drivers

• Restraints

• Opportunity

4. Global Bitumen Industry Analysis

• PEST Analysis

• Porter's Five Force Analysis

• Recent Deals Analysis

5. Global Bitumen Market Segmentation, By Product Type  

• Global Bitumen Market Share Analysis, By Product Type  

• Global Bitumen Market Growth Analysis, By Product Type  

• Global Bitumen Market Trends, By Product Type  

o Paving Grade

o Hard Grade

o Oxidized Grade

o Bitumen Emulsions

o Polymer Modified Bitumen

o Other Product Types

6. Global Bitumen Market Segmentation, By Application

• Global Bitumen Market Share Analysis, By Application

• Global Bitumen Market Growth Analysis, By Application

• Global Bitumen Market Trends, By Application

o Road Construction

o Waterproofing

o Adhesives

o Other Applications

7. Global Bitumen Market Segmentation, By Region

• Global Bitumen Market Share Analysis, By Region

• Global Bitumen Market Growth Analysis, By Region

• Global Bitumen Market Trends, By Region

o North America

o Europe

o Asia Pacific

o Latin America

o Middle East

o Africa

8. Competitive Landscape

• Bouygues*

o Company Overview

o Financial Performance

o Key Development/Strategies

o SWOT Analysis

• BP PLC

• China Petroleum & Chemical Corporation

• Exxon Mobil Corporation

• Icopal ApS

• Indian Oil Corporation Ltd

• JXTG Nippon Oil & Energy Corporation

• Kraton Corporation

• Marathon Oil Company

• Nynas AB

 *Similar analysis will be provided for each company listed above.