Bitumen Market
Asian and European countries getting involved in the Silk Route reconstruction , the paving bitumen market is expected to be strengthened . Moreover , developed regions such as the U . K . and the U . S . making progress with maintenance and reconstruction activities are adding to the demand . The elevating interest in road development taken by India , China , and Brazil is also envisaged to contribute to the rise of the paving bitumen segment .
Howbeit , PMB products are foretold to penetrate the global bitumen market at a remarkable pace on the back of the inflating demand in the roofing and road construction applications . As these products help to enhance the performance of roadways and waterproofing applications and allow heating at low temperatures , the PMB market is expected to gain further impetus .
Oxidized bitumen , cutback bitumen , bitumen emulsion , and bitumen formed due to the addition of zinc and copper are the other significant products prevailing in the global market .
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While there are numerous applications of bitumen , its application in road construction is anticipated to take hold of a colossal share of more than 80.0 % in the global bitumen market by 2020 . Much of the demand in the roadways application segment is accounted to the high viscosity and stickiness attributes of bitumen . The waterproofing market is predicted to grow at a sharp pace while riding on infrastructure development activities in emerging nations such as India and China .
Other segments that hold prominence in the global bitumen market are adhesives , insulation , decorative , and industrial applications .
Significant Global Consumption Accredited to North America With a cosmic network of roads in the U . S ., the North America region had made itself noticeable in 2016 by consuming bitumen at a larger volume of over 38,000 kilo tons . The region primarily consumes bitumen during the repair and redevelopment of the existing roads . Asia Pacific and other developing regions , contrastingly , consume bitumen for the development of new infrastructure . Asia Pacific , including China , is expecting significant infrastructure development in the forthcoming years . This has no doubt led to the anticipation of the Asia Pacific market to emerge as a rapidly expanding segment during the forecast period on the back of extensive industrialization .
Transparency Market Research
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