Bitumen Market Size, Share, Growth, Global Trends, Industry Analysis and Forecast to 2027

Price: 3200/- USD | Published Date: November 1, 2020 |

The global bitumen market has been projected to grow at the CAGR of 4.0% market during 2020-2027. In 2019, the market has generated the revenue of $ 61.1 billion and is expected to reach $ 87.1 billion in terms of revenue by 2027.

Road construction is anticipated to remain the key driver for the global bitumen market over the forecast period. Rising investment in road infrastructure projects especially in China, India and other zones of South East Asia such as development of integrated transit corridor in Delhi, China Pakistan economic corridor are anticipated to drive the demand for bitumen over the forecast period. Additionally, increasing demand for waterways corresponding to growing international trade is projected to fuel the demand for bitumen as a waterproofing solution material. Other application of water proofing solution such as water tanks, dams, bridges, etc. are also projected to fuel the demand for bitumen. Besides this, increasing demand adhesives and insulating material is also expected to fuel the demand for bitumen over the forecast period (2020-2027).

Market Insights

Rising investment in development of road infrastructure with increasing international trade along with growing urbanization especially in developing countries is anticipated to remain the key driver for global bitumen market. Increasing globalization and growing collaboration among nations increasing global trade are driving the need for better road infrastructure. Various countries are entering into collaborations and agreements to modernize and improve regional connectivity. For instance, China’s One Belt, One Road (OBOR) initiative also known as the New Silk Road project, aimed to connect Central Asia, Iran, Turkey, Eastern Europe, Southeast Asia, South Asia, Africa is expected to bring an investment of $ 1.3 trillion to road infrastructure projects which in turn is anticipated to spur the demand for bitumen during the forecast period. Furthermore, waterways is consider as the cheapest source of transport of goods. Thus, growing international trade is also increasing the demand for sea transport which in turn is driving the demand for ships subsequently increasing the water proofing solutions using bitumen. Beside these, growing urbanization in emerging economies including China, India, Brazil, etc. fueling the demand for electricity, buildings, water tanks, etc. is also driving the demand for bitumen based water proofing solutions. Therefore, increasing array of applications for bitumen is anticipated to augment the growth of bitumen market over the forecast period.

Asia Pacific is estimated to be the largest regional market for bitumen. Rapid proliferation of road infrastructure projects in India, China and other nations in South East Asia is anticipated to drive the demand for bitumen in the region over the forecast period. Key players in the market are expanding their bitumen production and supply capacity to increase their market penetration especially in the key consuming economies of Asia Pacific including China and India.

Market Segment Insights:

The global bitumen market for the purpose of this study is studied for grade type and application. Paving grade, hard grade, oxidizing grade, bitumen emulsions, and polymer modified bitumen are the prime bitumen grade considered in the grade type segmentation. Additionally, road construction, waterproofing, adhesives, insulation and others are key applications of bitumen.

Global Bitumen Market Segmentation:

By Grade Type, 2018–2027 ($ Billion)

  • Paving Grade
  • Hard Grade
  • Oxidized Grade
  • Bitumen Emulsions
  • Polymer Modified Bitumen

By Application, 2018–2027 ($ Billion)

  • Road Construction
  • Waterproofing
  • Adhesives
  • Insulation
  • Others

By Geography, 2018-2027 ($ Billion)

  • North America
  • Europe
  • Asia Pacific
  • Latin America (LATAM)
  • Middle East and Africa (MEA)

Regional Insights:

For the purpose of this study, the global bitumen market is regionally categorized into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa markets. These regional markets are further sub-segmented into top country level markets that majorly determine the regional industry trends. Among the considered regional markets, Asia Pacific is estimated to be the largest market for bitumen. High demand from road construction industry and water proofing industry is projected to drive the demand for bitumen in the region over the forecast period.

Market Competition Assessment:

The major players currently operating in the global bitumen market Royal Dutch Shell plc., Athabasca Oil Corporation, Energy Corporation, ExxonMobil, Marathon Oil Corporation, NuStar Energy, and others.

List of Key Companies:

  • Royal Dutch Shell plc.
  • Athabasca Oil Corporation
  • Energy Corporation
  • ExxonMobil
  • Marathon Oil Corporation
  • NuStar Energy
  • Nippon Oil Corporation
  • Petróleos Mexicanos Nynas AB
  • Sinopec Limited.
  • Suncor Energy

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Key Questions Answered by Bitumen Market Report

  • Global bitumen market forecasts from 2020-2027
  • Regional bitumen market forecasts from 2020-2027 covering Asia-Pacific, North America, Europe, Middle East and Africa, and Latin America
  • Country level forecasts from 2020-2027 covering 15 major countries from aforementioned regions
  • Bitumen submarket forecasts from 2020-2027 covering the market by grade type, by application, and geography
  • Various industry models such as SWOT analysis, Pestle Analysis, Porter’s Five Force model, Value Chain Analysis pertaining to bitumen market
  • Analysis of the key factors driving and restraining the growth of the global, regional and country level bitumen markets from 2020-2027
  • Competitive Landscape and market positioning of top 10 players operating in the bitumen market

(Reports will be updated due to COVID-19 impacts on the market)

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Table of Content:


1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Methodology
1.2.1. Phase I-Secondary Research
1.2.2. Phase II-Primary Research
1.2.3. Phase II-Expert Panel Review
1.2.4. Assumptions
2. Executive Summary
2.1. Global Bitumen Market Portraiture
2.1.1. Global Bitumen Market, by Grade Type, 2019
2.1.2. Global Bitumen Market, by Application, 2019
2.1.3. Global Bitumen Market, by Geography, 2019
2.1.4. Key Players
2.1.5. Drivers, Restraints & Trends
3. Global Bitumen Market Dynamics
3.1. Introduction
3.1.1. Market Definition
3.1.2. Market Size & Forecast
3.2. Drivers
3.3. Challenges
3.4. Future Prospects
3.5. Impact Analysis of Drivers and Challenges
3.6. Porter’s Five Force Analysis
3.6.1. Bargaining Power Of Suppliers
3.6.2. Bargaining Power Of Buyers
3.6.3. Threat Of Substitutes
3.6.4. Threat Of New Entrants
3.6.5. Industry Rivalry
4. Global Bitumen Market Size (Mn Tons) (US$ Mn), By Grade Type, 2018-2027
4.1. Introduction
4.2. Paving Grade
4.3. Hard Grade
4.4. Oxidized Grade
4.5. Bitumen Emulsions
4.6. Polymer Modified Bitumen
5. Global Bitumen Market Size (Mn Tons) (US$ Mn), By Application, 2018-2027
5.1. Introduction
5.2. Road Construction
5.3. Waterproofing
5.4. Adhesives
5.5. Insulation
5.6. Others
6. Global Bitumen Market Size (Mn Tons) (US$ Mn), By Geography, 2018-2027
6.1. Introduction
6.2. North America Bitumen Market Analysis, 2018-2027
6.2.1. North America Bitumen Market Size (Mn Tons) (US$ Mn), by Country, 2018-2027
6.2.1.1. U.S.
6.2.1.2. Canada
6.2.2. North America Bitumen Market Size (Mn Tons) (US$ Mn), by Grade Type, 2018-2027
6.2.2.1. Paving Grade
6.2.2.2. Hard Grade
6.2.2.3. Oxidized Grade
6.2.2.4. Bitumen Emulsions
6.2.2.5. Polymer Modified Bitumen
6.2.3. North America Bitumen Market Size (Mn Tons) (US$ Mn), by Application, 2018-2027
6.2.3.1. Road Construction
6.2.3.2. Waterproofing
6.2.3.3. Adhesives
6.2.3.4. Insulation
6.2.3.5. Others
6.3. Europe Bitumen Market Analysis, 2018-2027
6.3.1. Europe Bitumen Market Size (Mn Tons) (US$ Mn), by Region, 2018-2027
6.3.1.1. U.K.
6.3.1.2. Germany
6.3.1.3. Spain
6.3.1.4. France
6.3.1.5. Russia
6.3.1.6. Rest of Europe
6.3.2. Europe Bitumen Market Size (Mn Tons) (US$ Mn), by Grade Type, 2018-2027
6.3.2.1. Paving Grade
6.3.2.2. Hard Grade
6.3.2.3. Oxidized Grade
6.3.2.4. Bitumen Emulsions
6.3.2.5. Polymer Modified Bitumen
6.3.3. Europe Bitumen Market Size (Mn Tons) (US$ Mn), by Application, 2018-2027
6.3.3.1. Road Construction
6.3.3.2. Waterproofing
6.3.3.3. Adhesives
6.3.3.4. Insulation
6.3.3.5. Others
6.4. Asia Pacific Bitumen Market Analysis, 2018-2027
6.4.1. Asia Pacific Bitumen Market Size (Mn Tons) (US$ Mn), by Country, 2018-2027
6.4.1.1. China
6.4.1.2. India
6.4.1.3. Japan
6.4.1.4. South Korea
6.4.1.5. Australia
6.4.1.6. Rest of Asia Pacific
6.4.2. Asia Pacific Bitumen Market Size (Mn Tons) (US$ Mn), by Grade Type, 2018-2027
6.4.2.1. Paving Grade
6.4.2.2. Hard Grade
6.4.2.3. Oxidized Grade
6.4.2.4. Bitumen Emulsions
6.4.2.5. Polymer Modified Bitumen
6.4.3. Asia Pacific Bitumen Market Size (Mn Tons) (US$ Mn), by Application, 2018-2027
6.4.3.1. Road Construction
6.4.3.2. Waterproofing
6.4.3.3. Adhesives
6.4.3.4. Insulation
6.4.3.5. Others
6.5. Latin America Bitumen Market Analysis, 2018-2027
6.5.1. Latin America Bitumen Market Size (Mn Tons) (US$ Mn), by Country, 2018-2027
6.5.1.1. Brazil
6.5.1.2. Mexico
6.5.1.3. Rest of Latin America
6.5.2. Latin America Bitumen Market Size (Mn Tons) (US$ Mn), by Grade Type, 2018-2027
6.5.2.1. Paving Grade
6.5.2.2. Hard Grade
6.5.2.3. Oxidized Grade
6.5.2.4. Bitumen Emulsions
6.5.2.5. Polymer Modified Bitumen
6.5.3. Latin America Bitumen Market Size (Mn Tons) (US$ Mn), by Application, 2018-2027
6.5.3.1. Road Construction
6.5.3.2. Waterproofing
6.5.3.3. Adhesives
6.5.3.4. Insulation
6.5.3.5. Others
6.6. Middle East & Africa (MEA) Bitumen Market Analysis, 2018-2027
6.6.1. MEA Bitumen Market Size (Mn Tons) (US$ Mn), by Region, 2018-2027
6.6.1.1. GCC
6.6.1.2. Rest of MEA
6.6.2. MEA Bitumen Market Size (Mn Tons) (US$ Mn), by Grade Type, 2018-2027
6.6.2.1. Paving Grade
6.6.2.2. Hard Grade
6.6.2.3. Oxidized Grade
6.6.2.4. Bitumen Emulsions
6.6.2.5. Polymer Modified Bitumen
6.6.3. MEA Bitumen Market Size (Mn Tons) (US$ Mn), by Application, 2018-2027
6.6.3.1. Road Construction
6.6.3.2. Waterproofing
6.6.3.3. Adhesives
6.6.3.4. Insulation
6.6.3.5. Others
7. Company Profiles
7.1. Competitive Dashboard
7.2. Key Players
7.2.1. Royal Dutch Shell plc.
7.2.1.1. Business Description
7.2.1.2. Financial Information
7.2.1.3. Product Portfolio
7.2.1.4. Key Developments
7.2.2. Athabasca Oil Corporation
7.2.3. Energy Corporation
7.2.4. ExxonMobil
7.2.5. Marathon Oil Corporation
7.2.6. NuStar Energy
7.2.7. Nippon Oil Corporation
7.2.8. Petróleos Mexicanos Nynas AB
7.2.9. Sinopec Limited.
7.2.10. Suncor Energy
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