Market Overview:
The global natural bitumen market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for natural bitumen from various applications such as foundry, construction, oil and gas, ink and paint, among others. Additionally, the growing demand for green building materials is also contributing to the growth of this market.
Product Definition:
Natural Bitumen is a black, sticky, and viscous substance that is found in nature. It is made up of hydrocarbons and can be used as a sealant or adhesive.
Lump:
Lump is a type of crude oil that has been processed but not refined. It consists of organic matter and inorganic particles such as metal, fibers, sand etc. The size of the particles ranges from 2 to 200 microns.
Powder:
Powder is a fine, dry, granular material that is used as an extender or filler in bitumen. It helps to increase the viscosity of the liquid and makes it more fluid so that it can be easily applied with a spatula or trowel for coating on the road surface. The primary function of powder is to help spread out and homogenize any free-flowing particles in bitumen which may cause skips during application resulting into smoother coating.
Application Insights:
The construction application segment led the global natural bitumen market in 2017 and is projected to witness significant growth over the forecast period. Rapid urbanization coupled with rising housing needs across various countries such as India, China, and Australia is expected to drive product demand in this application. In addition, increasing infrastructure spending globally on account of growing economies such as India and China is anticipated to further fuel product demand over the forecast period.
In terms of volume, foundry applications dominated the global natural bitumen market with a share of 33% in 2017 owing to its high-temperature stability required for casting iron products including pipes and structural components.
Regional Analysis:
North America was the dominant natural bitumen market and accounted for over 35% of global volume in 2017. The region is expected to witness a moderate growth rate owing to the presence of numerous key companies such as Sunoco, ExxonMobil, Shell Bitumen and Jotun. These companies are engaged in manufacturing various grades of natural bitumen with different properties such as solvent resistance, weatherability, heat resistance etc.
Asia Pacific is anticipated to be one of the fastest-growing regional markets from 2018 to 2030 owing to increasing infrastructure investment coupled with rising population in emerging economies including China and India will drive product demand over the forecast period.
Growth Factors:
- Increasing demand for asphalt from the construction industry as a result of increasing population and urbanization.
- Rising demand for bitumen in the Asia Pacific region, especially in countries such as China and India, due to the growth of the automotive industry.
- Growing use of natural bitumen in roofing applications, owing to its properties such as resistance to fire and weathering.
- Increasing popularity of green roofs, which require natural bitumen for their installation and maintenance purposes.
Scope Of The Report
Report Attributes
Report Details
Report Title
Natural Bitumen Market Research Report
By Type
Lump, Powder
By Application
Foundry, Construction, Oil and Gas, Ink and Paint, Other
By Companies
American Gilsonite Company, Wasit Group, Chemical Mine World, Asian Gilsonite, ATDM, Nikan West Gilsonite Company, Asia Gilsonite
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
163
Number of Tables & Figures
115
Customization Available
Yes, the report can be customized as per your need.
Global Natural Bitumen Market Report Segments:
The global Natural Bitumen market is segmented on the basis of:
Types
Lump, Powder
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Foundry, Construction, Oil and Gas, Ink and Paint, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- American Gilsonite Company
- Wasit Group
- Chemical Mine World
- Asian Gilsonite
- ATDM
- Nikan West Gilsonite Company
- Asia Gilsonite
Highlights of The Natural Bitumen Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Lump
- Powder
- By Application:
- Foundry
- Construction
- Oil and Gas
- Ink and Paint
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Natural Bitumen Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Natural bitumen is a type of petroleum that is found in the ground. It is made up of molecules called hydrocarbons.
Some of the key players operating in the natural bitumen market are American Gilsonite Company, Wasit Group, Chemical Mine World, Asian Gilsonite, ATDM, Nikan West Gilsonite Company, Asia Gilsonite.
The natural bitumen market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Natural Bitumen Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Natural Bitumen Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Natural Bitumen Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Natural Bitumen Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Natural Bitumen Market Size & Forecast, 2018-2028
4.5.1 Natural Bitumen Market Size and Y-o-Y Growth
4.5.2 Natural Bitumen Market Absolute $ Opportunity
Chapter 5 Global Natural Bitumen Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Natural Bitumen Market Size Forecast by Type
5.2.1 Lump
5.2.2 Powder
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Natural Bitumen Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Natural Bitumen Market Size Forecast by Applications
6.2.1 Foundry
6.2.2 Construction
6.2.3 Oil and Gas
6.2.4 Ink and Paint
6.2.5 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Natural Bitumen Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Natural Bitumen Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Natural Bitumen Analysis and Forecast
9.1 Introduction
9.2 North America Natural Bitumen Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Natural Bitumen Market Size Forecast by Type
9.6.1 Lump
9.6.2 Powder
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Natural Bitumen Market Size Forecast by Applications
9.10.1 Foundry
9.10.2 Construction
9.10.3 Oil and Gas
9.10.4 Ink and Paint
9.10.5 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Natural Bitumen Analysis and Forecast
10.1 Introduction
10.2 Europe Natural Bitumen Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Natural Bitumen Market Size Forecast by Type
10.6.1 Lump
10.6.2 Powder
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Natural Bitumen Market Size Forecast by Applications
10.10.1 Foundry
10.10.2 Construction
10.10.3 Oil and Gas
10.10.4 Ink and Paint
10.10.5 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Natural Bitumen Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Natural Bitumen Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Natural Bitumen Market Size Forecast by Type
11.6.1 Lump
11.6.2 Powder
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Natural Bitumen Market Size Forecast by Applications
11.10.1 Foundry
11.10.2 Construction
11.10.3 Oil and Gas
11.10.4 Ink and Paint
11.10.5 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Natural Bitumen Analysis and Forecast
12.1 Introduction
12.2 Latin America Natural Bitumen Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Natural Bitumen Market Size Forecast by Type
12.6.1 Lump
12.6.2 Powder
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Natural Bitumen Market Size Forecast by Applications
12.10.1 Foundry
12.10.2 Construction
12.10.3 Oil and Gas
12.10.4 Ink and Paint
12.10.5 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Natural Bitumen Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Natural Bitumen Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Natural Bitumen Market Size Forecast by Type
13.6.1 Lump
13.6.2 Powder
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Natural Bitumen Market Size Forecast by Applications
13.10.1 Foundry
13.10.2 Construction
13.10.3 Oil and Gas
13.10.4 Ink and Paint
13.10.5 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Natural Bitumen Market: Competitive Dashboard
14.2 Global Natural Bitumen Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 American Gilsonite Company
14.3.2 Wasit Group
14.3.3 Chemical Mine World
14.3.4 Asian Gilsonite
14.3.5 ATDM
14.3.6 Nikan West Gilsonite Company
14.3.7 Asia Gilsonite
