Bitumen Market
REPORT DESCRIPTION
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
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.
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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
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