According to the latest market analysis by the FBI, the global Bitumen market size will surge at a steady rate over the forecast period from 2018 to 2029. The objective of the report is to unmask the growth drivers, restraints, key trends, threats, and growth opportunities shaping the future of the market. The analysis aims at assisting businesses to capitalize on upcoming opportunities and prepare for unforeseen challenges.
The global bitumen market size is anticipated to hit USD 67.14 billion by 2028 and exhibit a CAGR of 3.8% during the forecast period. The soaring road construction activities and the rising demand for bitumen for products for waterproofing applications are expected to be the key factors boosting the Bitumen Market growth. Fortune Business InsightsTM has presented this information in its report titled, “Bitumen Market, 2021-2028”. The market size stood at USD 49.45 billion in 2020 and USD 51.69 billion in 2021.
The report offers thorough information about the overview and scope of the Market along with its drivers, restraints, and trends. It is a phenomenal compilation of qualitative and quantitative aspects that explore the competitive landscape, segmentation, geographical expansion, sales and revenue, production, and consumption growth of the global market. Players can use the report’s reliable Market facts and figures, as well as statistical studies, to better understand the existing and future growth of the global Bitumen market.
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The report contains a detailed analysis of market size for various segments and countries in previous years, as well as future forecasts. The Bitumen Industry size report delves into the competitive landscape of the global market. The Market dynamics, drivers, and segmentation by application, type, region, and manufacturer are all covered in this report.
Bitumen Market Report Scope
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Global Bitumen Market Scope in 2022:
The report offers detailed insight into new product launches, new technology evolutions, innovative services, and ongoing R&D. The report discusses a qualitative and quantitative analysis of the Market including PEST analysis, SWOT analysis, and Porter’s five force analysis. Global Bitumen Market share focuses on major six regions namely North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The report also provides fundamental details such as raw material sources, distribution networks, methodologies, production capacities, market supply chain, and product specifications.
Report Benefits & Key Questions Answered
- Bitumen Historical Volume Analysis: The detailed analysis by FBI underscores fundamental drivers, restraints, and opportunities that impacted the growth of the market over the last forecast period. It offers modification in market growth due to the aforementioned dynamics and project sales performance of Bitumen for the forthcoming forecast period 2018-2028.
- Bitumen Sales Outlook: A thorough study administered by FBI analyses key micro and macro-economic indicator and provides insights on their impact on the sales of Bitumen Size during the assessment period.
- Bitumen Company & Brand Share Analysis: The company and brand share analysis by FBI reveals the list of leading companies in the Bitumen market and segregates these companies in Tier 1, Tier 2, and Tier 3. The study also forecasts the percentage of market share captured by these players between 2018 and 2028.
- Bitumen Category and segment level analysis: FBI offers a detailed analysis of the factors influencing the sales prospect across key segments. category analysis provides deep insights into customer experiences, emerging trends, and growth drivers. The vital information highlighted in this section will enable market players to make a timely business decision to gain a competitive advantage.
- Bitumen Market Trend Analysis: The analysis of the market trend discovers current and upcoming trends in the future industry and studies the impact of these trends on the demand and sales of Bitumen during the coming decade.
- Bitumen Market Structure Analysis: The study on market structure analysis provides in-depth data about market concentration, level of competition, and tier analysis of the key players in the Bitumen market size along with their insights on their global footprint based on region, country, segment, and product portfolio.
Regions Covered in the Bitumen Market Report:
Besides segmental breakdown, the report is highly structured into a region-wise study. The regional analysis was comprehensively done by the researcher highlighting key regions and their dominating countries accounting for substantial revenue share in the Bitumen Market Size. The study helps understand how the market will fare in the respective region, while also mentioning the emerging regions growing with a significant CAGR. The following are the regions covered in this report.
Booming Construction Sector to Influence Growth in Asia PacificAsia Pacific is anticipated to dominate the global bitumen market share. The adoption of several schemes and initiatives by governments to improve public infrastructure is likely to uplift the region’s market growth. Additionally, the booming construction sector and improving socio-economic conditions are expected to complement the region’s market growth.Europe is expected to emerge as a key market due to high emulsion demand and rising construction activities. The growing adoption of asphalt sheets and films in waterproofing solutions is likely to favor the region’s market growth.North America is projected to witness significant growth due to the rising bitumen adoption. Depleting crude oil and petroleum reserves is likely to bolster the demand for bio-asphalt in the coming years.The Middle East & Africa, and Latin America are expected to witness slow growth. Though, rising urbanization and industrialization are anticipated to amplify the region’s market growth in the coming years.
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