Market Overview:
The global penetration 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 market can be attributed to the increasing demand for penetration grade bitumen from various applications such as ordinary road, highway, airport runway and others. Additionally, the growing construction industry across the globe is also expected to fuel the demand for penetration grade bitumen in forthcoming years. On basis of type, low penetration grade bitumen held a dominant share in 2017 and is anticipated to maintain its dominance throughout the forecast period. This can be attributed to its properties such as high resistance against water ingress and good adhesion with aggregates that make it suitable for use in pavements subjected to light traffic loads only.
Product Definition:
The penetration grade bitumen is a type of bitumen that has been specifically designed for paving and roofing applications. It has a penetrative quality that allows it to be easily spread in both cold and hot climates. This type of bitumen is also less likely to suffer from shrinkage or cracking, making it a more durable option for outdoor paving and roofing applications.
Low Penetration:
Low penetration grade bitumen is a type of heavy, viscous petroleum liquid that is extracted from the ground. It flows in comparison to high-penetration grade bitumen which has a tendency to flow under pressure. Low penetration grade product has higher viscosity as well as density compared with its counterpart and hence it takes more time for spreading process.
Medium Penetration:
Medium penetration is a type of bitumen that has been through the process of solvent extraction and contains approximately 40% to 60% paraffin. It is used as an adhesive in hot-melt adhesives, cold-flow improvers for existing asphalt, and as a binder in construction materials such as hot-melts, cold flow improvers for concrete or bituminous surfaces.
Application Insights:
Highway application dominated the global penetration grade bitumen market, accounting for over 60% of the overall demand in 2017. The segment is projected to witness significant growth over the forecast period owing to rising infrastructure development projects and initiatives undertaken by governments across various regions. For instance, China¢â‚¬â„¢s One Belt and One Road (OBOR) initiative involves building a network of roads connecting Asia with Europe which is likely to propel product demand in this region.
The ordinary road segment accounted for more than 40% share of total volume in 2017 due largely to growing urbanization and population along with an increase in construction activities within cities resulting into increased need for proper drainage systems which include street lighting, gutters & downspouts made from bituminous materials such as asphalt concrete or mortar joints between paving stones or bricks & cement tiles.
Regional Analysis:
Asia Pacific was the largest market for penetration grade bitumen in 2016 and is expected to continue its dominance over the forecast period. The region accounts for a major share of global trade and has been witnessing strong economic growth, which is likely to have a positive impact on industry growth.
China, India, Japan, South Korea are some of the fastest-growing economies in Asia Pacific with growing middle-class populations that are looking for better standards of living coupled with high demand from expanding infrastructure sector. This trend is projected to continue driving product demand over the next eight years.
North America accounted for more than 20% revenue share owing to increasing construction spending along with rising need from aging infrastructure projects such as bridges and roads across U.S.
Growth Factors:
- Increasing demand for bitumen in the construction industry as a result of growth in infrastructure development activities across the globe.
- Rising demand for bitumen from the automotive sector due to increasing vehicle production and sales globally.
- Growing use of bitumen in roofing applications, especially in countries with hot and humid climates, due to its superior waterproofing properties.
- Increasing penetration of asphalt pavements as an alternative to traditional concrete pavements, which is expected to drive the demand for bitumen over the next few years.
Scope Of The Report
Report Attributes
Report Details
Report Title
Penetration Grade Bitumen Market Research Report
By Type
Low Penetration, Medium Penetration, High Penetration
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
166
Number of Tables & Figures
117
Customization Available
Yes, the report can be customized as per your need.
Global Penetration Grade Bitumen Market Report Segments:
The global Penetration Grade Bitumen market is segmented on the basis of:
Types
Low Penetration, Medium Penetration, High Penetration
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 Penetration 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:
- Low Penetration
- Medium Penetration
- High Penetration
- 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 Penetration 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.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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- 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?
Penetration grade bitumen is a type of asphalt that has been specifically designed to resist cracking and penetration by water.
Some of the major companies in the penetration 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 Penetration 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 Penetration Grade Bitumen Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Penetration 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 Penetration 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 Penetration Grade Bitumen Market Size & Forecast, 2020-2028
4.5.1 Penetration Grade Bitumen Market Size and Y-o-Y Growth
4.5.2 Penetration 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 Low Penetration
5.2.2 Medium Penetration
5.2.3 High Penetration
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 Penetration 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 Penetration 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 Low Penetration
9.6.2 Medium Penetration
9.6.3 High Penetration
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 Low Penetration
10.6.2 Medium Penetration
10.6.3 High Penetration
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 Low Penetration
11.6.2 Medium Penetration
11.6.3 High Penetration
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 Low Penetration
12.6.2 Medium Penetration
12.6.3 High Penetration
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 Low Penetration
13.6.2 Medium Penetration
13.6.3 High Penetration
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 Penetration Grade Bitumen Market: Competitive Dashboard
14.2 Global Penetration 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
