"Innovative Market Solutions to Help Businesses Make Informed Decisions"

Bitumen Market Size, Share & Industry Analysis, By Type (Paving Grade, Hard Grade, Oxidized Grade, Polymer Modified, Bitumen Emulsion), By Application (Roadways, Waterproofing, Adhesives, Insulation, Others) And Regional Forecast 2021-2028

Region : Global | Report ID: FBI104300 | Status : Ongoing



Bitumen, also known as asphalt is a black colored, highly viscous, sticky, semi-solid form of petroleum found naturally as well as refined form. Primarily, bitumen is used in road construction, waterproofing products, insulation, adhesives and other applications. Bitumen is highly employed in construction and infrastructural activities attributed to its binding ability and easy manufacturing process.

Increasing demand from construction sector is driving the market growth. Bitumen is excellent binder for aggregates and other road construction materials. Increasing government initiatives to develop the public infrastructures and roadway networks to increase the internal as well as external connectivity is expected to boost the demand for bitumen.

However, bitumen is byproduct of petroleum refineries. Petroleum rapidly depleting petroleum reserves is likely to hamper the market growth.

Key Market Driver -

Increasing demand from construction sector.

Key Market Restraint -

Limited reserves of petroleum.

Market Segmentation:

Based on type, the global bitumen market is segmented into paving grade, hard grade, oxidized grade, polymer modified, bitumen emulsion. Based on application, is segmented into roadways, waterproofing, adhesives, insulation, and other applications.

From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Players Covered:

The global bitumen market consists of global & regional players operating. Some of the key players in the market include Royal Dutch Shell, Valero Energy Corporation, Total S.A, Exxon Mobil Corporation, Indian Oil Corporation, China Petroleum and Chemical Corporation, Suncor Energy, Villas Austria GmbH, and others.

Key Insights

  • New Advancements in Production Technologies

  • Key Trends in the Bitumen Market

  • New Product Launches, Expansions, Key Players

  • Ranking of Key Players in the Market

Regional Analysis:

The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to account for largest share in market due to the rising construction sector in India, South Korea, Thailand, Indonesia, Vietnam and other countries. North America is expected to witness significant growth attributed to the large manufacturing base for petroleum. Europe is expected to experience significant growth attributed to the demand for road construction and other infrastructural activities like waterproofing, insulation and other. Latin America and Middle East & Africa is likely to exhibit sluggish growth by the end of forecast period.

To gain extensive insights into the market, Request for Customization




By Type

  • Paving Grade

  • Hard Grade

  • Oxidized Grade

  • Polymer Modified

  • Bitumen Emulsion

By Application

  • Roadways

  • Waterproofing

  • Adhesives

  • Insulation

  • Others

By Geography

  • North America (U.S., and Canada)

  • Europe (Germany, UK, France, Italy, and Rest of Europe)

  • Asia Pacific (China, India, Japan, and Rest of Asia Pacific)

  • Latin America (Mexico, Brazil, and Rest of Latin America)

  • Middle East & Africa (UAE, South Africa, and Rest of Middle East & Africa)

Bitumen Industry Developments

  • In March 2019, Shell launched a new bitumen product that is designed to help to reduce the impact of asphalt production and paving on native air quality.

  • In October 2020, Exxon Mobil is maintaining production cuts at its bitumen unit in Singapore. The unit has capacity of 120000 tons per month for bitumen.

Bitumen Market Size, Share and Global Industry Trend Forecast till 2026
  • Ongoing
  • 2020
  • 2017-2019


  • $4850

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Chemicals & Materials Clients


Client Testimonials

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.