Market Overview:
The global paving grade bitumen market is estimated to be valued at US$ XX Mn in 2018 and is projected to reach US$ XX Mn by 2030, exhibiting a CAGR of X.X% during the forecast period. The growth of the global paving grade bitumen market can be attributed to the increasing demand for paved roads from various end-use industries such as automotive, construction, and others. In addition, the increasing investments in infrastructure development projects are also expected to fuel the growth of the global paving grade bitumen market over the forecast period. On basis of type,the global paving grade bitumen market has been segmented into 40-50, 60-70, 85-100,, 120-150,, and 200-300 grades. However,.
Product Definition:
Paving grade bitumen is a type of asphalt that has been specifically designed for paving applications. It is typically less viscous than other types of asphalt, which makes it easier to work with. Paving grade bitumen also has a higher melting point, making it more resistant to thermal cracking.
40-50:
40-50 is a range of viscosity grade used in paving grade bitumen. 40-50 is the most preferred range of grades by contractors and asphalt producers as it has high elasticity and flow characteristics. 40-50 also provides ease in spreading, rolling, and curing while maintaining good adhesion on wet macadamia roads or during heavy rain showers when other lower viscosity grades might wash out.
60-70:
60-70 is a range of asphalt concrete mixtures that are manufactured and used in paving grade bitumen. It is also known as hot mix asphalt or just plain old Asphalt (PA) which can be used for road construction, repair, and maintenance activities. 60-70 Asphalt has the ability to bind together sand, gravel and rock; thus making it ideal for use in pavements.
Application Insights:
The highway application segment accounted for the largest share of more than 60.0% in 2017 and is projected to witness significant growth over the forecast period. The increasing construction activities for highways, roadways and other public infrastructure projects across the globe are expected to drive product demand over the coming years.
Paving grade bitumen with a thickness of 85-100 mm is used for applications including ordinary roads, secondary roads and motorways as it provides good resistance against wear & tear caused due to traffic movement on account of its high elasticity properties. However, products with lower grades such as 40-50 mm or 120-150 mm are preferred for residential areas owing to low elasticity properties resulting in less wear & tear on asphaltic surfaces when compared with others.
Regional Analysis:
Asia Pacific was the largest regional market in 2017 and is expected to continue its dominance over the forecast period. The region is home to several emerging economies, including China, India, Indonesia and Vietnam. Rapidly expanding transportation infrastructure in these countries coupled with increasing investments in airport runways and other major road projects are likely to have a positive impact on global paving grade bitumen market growth over the next eight years.
The European region accounted for approximately 20% of global paving grade bitumen demand in 2017 owing to extensive highway construction activities undertaken by various governments at both domestic level as well as EU-level. Moreover, stringent regulations implemented by bodies like American Petroleum Institute (API) regarding quality standards for petroleum crude oil products are likely to boost product demand across this region over the coming years.
Growth Factors:
- Increasing demand for paving grade bitumen from the construction and infrastructure sectors as a result of rapid urbanization and industrialization in developing countries.
- Rising demand for bitumen from the automotive sector due to increasing production of passenger cars and commercial vehicles worldwide.
- Growing use of paving grade bitumen in asphalt mixes for road construction projects due to its superior properties such as high resistance to rutting, cracking, and thermal cracking.
- Increasing investments by governments in transportation infrastructure projects, which is expected to drive the demand for paving grade bitumen over the next few years.
Scope Of The Report
Report Attributes
Report Details
Report Title
Paving Grade Bitumen Market Research Report
By Type
40-50, 60-70, 85-100, 120-150, 200-300
By Application
Ordinary Road, Highway, Airport Runway, Others
By Companies
Shell, Exxon Mobil, SK, Nynas, Colas, Baolirus, Gazprom Neft PJSC, PetroChina, Sinopec Group, BITUMINA GROUP, DAYA International
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
167
Number of Tables & Figures
117
Customization Available
Yes, the report can be customized as per your need.
Global Paving Grade Bitumen Market Report Segments:
The global Paving Grade Bitumen market is segmented on the basis of:
Types
40-50, 60-70, 85-100, 120-150, 200-300
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
Ordinary Road, Highway, Airport Runway, Others
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:
- Shell
- Exxon Mobil
- SK
- Nynas
- Colas
- Baolirus
- Gazprom Neft PJSC
- PetroChina
- Sinopec Group
- BITUMINA GROUP
- DAYA International
Highlights of The Paving Grade 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:
- 40-50
- 60-70
- 85-100
- 120-150
- 200-300
- By Application:
- Ordinary Road
- Highway
- Airport Runway
- Others
- 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 Paving Grade 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.
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- Correctly Positioning New Products
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- Consumer Insights
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- Product & Brand Management
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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?
Paving grade bitumen is a type of asphalt that has been specifically designed for use as a pavement surface. It is the most common type of asphalt used in the United States, and it is also used in many other countries around the world. Paving grade bitumen is made from petroleum products, and it has a higher quality than other types of asphalt.
Some of the major players in the paving grade bitumen market are Shell, Exxon Mobil, SK, Nynas, Colas, Baolirus, Gazprom Neft PJSC, PetroChina, Sinopec Group, BITUMINA GROUP, DAYA International.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Paving Grade 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 Paving Grade Bitumen Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Paving Grade 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 Paving Grade 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 Paving Grade Bitumen Market Size & Forecast, 2020-2028
4.5.1 Paving Grade Bitumen Market Size and Y-o-Y Growth
4.5.2 Paving Grade Bitumen Market Absolute $ Opportunity
Chapter 5 Global 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 Market Size Forecast by Type
5.2.1 40-50
5.2.2 60-70
5.2.3 85-100
5.2.4 120-150
5.2.5 200-300
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global 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 Market Size Forecast by Applications
6.2.1 Ordinary Road
6.2.2 Highway
6.2.3 Airport Runway
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Paving Grade 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 Paving Grade 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 Analysis and Forecast
9.1 Introduction
9.2 North America 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 Market Size Forecast by Type
9.6.1 40-50
9.6.2 60-70
9.6.3 85-100
9.6.4 120-150
9.6.5 200-300
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 Market Size Forecast by Applications
9.10.1 Ordinary Road
9.10.2 Highway
9.10.3 Airport Runway
9.10.4 Others
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 Analysis and Forecast
10.1 Introduction
10.2 Europe 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 Market Size Forecast by Type
10.6.1 40-50
10.6.2 60-70
10.6.3 85-100
10.6.4 120-150
10.6.5 200-300
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 Market Size Forecast by Applications
10.10.1 Ordinary Road
10.10.2 Highway
10.10.3 Airport Runway
10.10.4 Others
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 Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific 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 Market Size Forecast by Type
11.6.1 40-50
11.6.2 60-70
11.6.3 85-100
11.6.4 120-150
11.6.5 200-300
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 Market Size Forecast by Applications
11.10.1 Ordinary Road
11.10.2 Highway
11.10.3 Airport Runway
11.10.4 Others
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 Analysis and Forecast
12.1 Introduction
12.2 Latin America 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 Market Size Forecast by Type
12.6.1 40-50
12.6.2 60-70
12.6.3 85-100
12.6.4 120-150
12.6.5 200-300
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 Market Size Forecast by Applications
12.10.1 Ordinary Road
12.10.2 Highway
12.10.3 Airport Runway
12.10.4 Others
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) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) 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) Market Size Forecast by Type
13.6.1 40-50
13.6.2 60-70
13.6.3 85-100
13.6.4 120-150
13.6.5 200-300
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) Market Size Forecast by Applications
13.10.1 Ordinary Road
13.10.2 Highway
13.10.3 Airport Runway
13.10.4 Others
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 Paving Grade Bitumen Market: Competitive Dashboard
14.2 Global Paving Grade Bitumen Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Shell
14.3.2 Exxon Mobil
14.3.3 SK
14.3.4 Nynas
14.3.5 Colas
14.3.6 Baolirus
14.3.7 Gazprom Neft PJSC
14.3.8 PetroChina
14.3.9 Sinopec Group
14.3.10 BITUMINA GROUP
14.3.11 DAYA International
