Skip to main content

Exclusive Market Study Estimates that Global Bitumen will Grow at CAGR of 3.4% in terms of volume During 2016-2022

Global Bitumen Market: Driven by increasing road construction activities in developing economies across the globe and rise in use of bitumen in the waterproofing and chemicals industry
According to a new market report published by Persistence Market Research, titled “Global Market Study on Bitumen: Paving Grade Bitumen to Hold Significant Share during the Forecast Period, 2016 - 2022 ”, the global bitumen market is estimated to reach US$ 94,748.2 Mn by 2022.
Request For Report Sample@ https://www.persistencemarketresearch.com/samples/10721
A mixture of highly sticky, black, viscous organic liquids that is entirely soluble in carbon disulfide and primarily composed of highly condensed polycyclic aromatic hydrocarbons is called bitumen. Naturally occurring bitumen is a tar-lie form of petroleum which is so dense, heavy, and thick that it must be heated or diluted before it could flow. Bitumen mostly contains sulfur and various heavy metals such as vanadium, lead, nickel, chromium, mercury, and other toxic elements.
Among the various regions, the market in North America is expected to account for 31.69% volume share of the overall global bitumen market, followed by APAC and Western Europe, by 2022. Due to rise in road construction activities in APAC, the bitumen market in the region is projected to expand at a higher than average CAGR of 7.0% between 2016 and 2022 in terms of revenue. The market in the MEA, which is anticipated to account for 8.21% revenue share of the overall global market by 2022 end, is expected to be driven by an increase in the use of bitumen in the paints and coatings industry in the region. The bitumen market in Latin America is estimated to witness an average increase in revenue due to lower GDP growth in the region.
Request For Report Table of Content (TOC): https://www.persistencemarketresearch.com/methodology/10721
The hard grade segment in the global market is expected to expand at a lower than average CAGR of 3.4% in terms of volume between 2016 and 2022 when compared to the paving grade segment, which is expected to expand at a CAGR of 5.9% during the same period. Application of paving grade bitumen is expected to be the highest in APAC, due to its cost effectiveness as well as increasing road construction activities in the region. Use of oxidized grade bitumen in North America is expected to grow significantly by 3.3%, in terms of value, during the forecast period.
By end-use, the road construction segment is expected to expand at a higher than average CAGR as compared to other end-use segments, such as waterproofing and others, both in terms of value and volume. The increase in GDP output is one of the major factors driving the market currently. The bitumen market in APAC, with an exponential increase in GDP of various developing economies of the region, is expected to witness high revenue growth during the forecast period. Meanwhile, the market in developed economies is expected to decline in the near future due to lower GDP growth, thereby implying lower consumption compared to other economies.     
Know More About Report@ https://www.persistencemarketresearch.com/mediarelease/bitumen-market.asp
Labels:

Comments

Post a Comment

Popular posts from this blog

Collaborative Robot (Cobot) Market Insights Deep Analysis 2022-2030

  With the advancements in technology, robotics is becoming available at a price that suits the pockets of even smaller as well as bigger companies. All thanks to the development of low-cost components, which have paved way for the   upsurge of the collaborative robots or cobots  .Collaborative robots are intended to collaborate with humans at work sites, and hence making automation a trouble-free job for businesses of all sizes. By now, cobots have been seen as a game-changer for a wide variety of applications. W hy cobots over traditional robots? The new robotics technology is outdoing the weighty, daunting robots usually locked in the cages for security reasons. Now, it’s time to make use of cobots in those heavy industrial tasks! These robots are quite affordable, safe, and flexible to deploy. They are programmed to work in collaboration with humans and not under humans—unlike traditional robots. With these advanced-automated robots, you can forget the cages and make ...
Post a Comment
Read more

Contactless Payment Market size share growth analysis market demand

  Contactless payment, also called as a tap-and-go system is a secure mode where the transactions are done using technologies such as NFC (near field communication), RFID (radio frequency identification), infrared, and bluetooth. Contactless payment is hassle-free and convenient for customers as it takes only one-tenth of the time taken by the old-style electronic transaction.Contactless payment is becoming popular owing to its benefits such as secure and fast payments without any need for cash or identifying details. Initially, these type of payments or cards were used for the purpose oftravelling tickets only. But today, this technology has evolved and is helping customers to make payments for almost anything. However, the permissible amount for a contactless payment varies by country and by the bank. Access to PDF Sample Report Here! @  https://www.researchdive.com/download-sample/181 Recent Developments in the Contactless Payment Industry As per a Research Dive blog, ...
2 comments
Read more

Development: Aerospace 3D Printing Market Strategy Planning by Top Manufacturers

  Aerospace 3D Printing Market Analysis 2026: According to a study of the Research Dive,  aerospace 3D printing market  forecast shall cross  $5,933.4 million by 2026 , growing at a  CAGR of 26.8%  during forecast period. Aerospace 3D printing is primarily used to increase the efficiency of A&D supply chain, reduction of storage costs of inventory and waste production materials. Furthermore, the Aerospace 3D printing industry is focusing more on creating parts of aircraft that are lighter and stronger than parts made by using traditional manufacturing. Astonishing advantages of 3D printings in the supply chain of the aerospace and defense industry are projected to surge in the global market. In addition, the financial support provided by the government and non-government organizations across the globe is also driving the 3D printing in aerospace industry. For instance,   National Aerospace Technology Exploitation Programme grants £140,000 funds for...
Post a Comment
Read more