Global Bitumen Market - Size, Share, Trends and Analysis to 2016

Global Bitumen Market - Size, Share, Trends and

Analysis to 2016

Persistence Market Research

Global Bitumen Market is Estimated to

Reach US$ 70,072 Mn by End of 2016 Persistence Market Research

Persistence Market Research

1

Global Bitumen Market - Size, Share, Trends and

Analysis to 2016

Persistence Market Research Released New Market Report “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.

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.

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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.

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