Increase demand of tailored solutions designed to meet the needs of the modern day road, airports and construction sectors, in addition with improved fuel resistance and adhesion/cohesion properties propel the demand of bitumen in APAC region.
Global bitumen market size is poised to exceed USD 110 billion by 2024 and is expected to expand at a CAGR of 6.59% over the forecast period. APAC is projected to account for a volume share of around 31% of the global bitumen market by the end of the 2024.
On the basis of application, waterproofing applications was valued at over USD 8.78 billion in 2016. On the basis of product, paving bitumen market is forecast to witness gains more than 2.25% CAGR over the estimated period. Geographically, nearly two-third of total worldwide bitumen consumption is attributed to China making it the largest consumer of APAC as well as global bitumen market.
Advanced Bitumen Solution Center in China
Shell is a leader in bitumen solutions with a developed product and service portfolio that offers customized solutions for the needs of the road, roofing and airport sectors and some specialty applications. Shell Bitumen’s continued business growth ambitions including testing of new technologies in China, for instance, Shell Bitumen Fresh, a solution that reduces bitumen odor during paving activities and also technology won the International Road Conference award for Innovation in 2015.
“Asia Pacific Bitumen Market Outlook 2024” contains detailed overview of the APAC bitumen market in terms of market segmentation by grade, product and application.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
APAC bitumen market report also provides competitive outlook for some of the major players which includes profiling of companies such as British Petroleum, Total S.A., Chevron Texaco Corporation, China Petroleum and Chemical Corporation, Indian Oil Corporation, Royal Dutch Shell Plc., JX Nippon Oil & Energy Corporation, Petroleos Mexicanos, Bouygues S.A., NuStar Energy, Villas Austria GmbH, Marathon Oil Corporation, Exxon Mobil Corporation and Nynas AB, etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the APAC bitumen market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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