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Bitumen Market Share

Report ID: GMI1100
Published Date: Jun 2021
Report Format: PDF

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Bitumen Market Share

Global bitumen industry players majorly focus on development of their product portfolio to enhance their business capabilities. Major players are increasing their product range and presence in the emerging market to cater to the growing demand for bitumen. Strategic partnerships and enhancement of the product landscape are key initiatives in the global market.

Some of the key manufacturers include:

ExxonMobil
Athabasca Oil Corporation
Royal Dutch Shell
TotalEnergies
Nynas
Valero Energy Corporation
Chevron Texaco Corporation
Indian Oil Corporation
Suncor Energy
China Petroleum and Chemical Corporation
Nustar energy
Bouygues
Villas Austria GmbH
Gazprom-Neft
Marathon Oil Corporation

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

Worldwide bitumen market size recorded at around USD 49.74 billion in 2020 and should witness a 4.4% CAGR driven by new road construction and road repair activities globally.

Paving bitumen could capture more than 60% of the market share by 2027 as over 85% of bitumen produced globally is used in asphalt concrete for road and transport infrastructure.

Bitumen industry generated USD 41.69 billion from roadways application in 2020 due to prominent use of bitumen in road construction.

Asia Pacific could reach more than USD 35 billion by the end of 2027 powered by increased expenditure in road and highway construction.