Market Overview:
The global petroleum 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 asphalt in the construction and road sectors. Asia Pacific is expected to be the fastest-growing region during the forecast period, followed by Europe and North America.
Product Definition:
Petroleum bitumen is a type of crude oil that has a high concentration of hydrocarbons. It is used as an asphalt binder to create asphalt pavement.
Construction Asphalt:
Construction asphalt is a type of blacktop road surface made from heated and processed shale or coal tar. It has a high proportion of bitumen, which makes it very hard and resistant to abrasion. The product was developed as an alternative to Bituminous Pavements (BP) in the early 20th century, owing to its superior resistance towards wear caused by driving tires on BP pavements.
Road Asphalt:
Road asphalt is a mixture of sand, rock, and crushed limestone that is used as a binding material for the paving blocks or cement. The product also has applications in road construction and repair as it helps to reduce the permeability of roads. It also provides resistance to heat generation and prevents rainwater from swelling the road base.
Application Insights:
The road asphalt segment accounted for the largest market share in 2017 and will expand at a CAGR of XX% over the forecast period. Road connectivity is one of the essential elements of any developed economy, which is likely to propel product demand in this application segment over the coming years.
Construction bitumen was estimated as second-largest application segment, accounting for approximately 40% share of total volume in 2017 owing to its extensive use in residential & commercial construction applications across various regions including North America and Europe. Growing urbanization along with increasing government spending on infrastructure development are expected to drive product consumption for this purpose significantly over the coming years.
Other applications include industrial sealants, flooring underlayment.
Regional Analysis:
North America dominated the global market in 2017 owing to the presence of key petroleum bitumen manufacturers such as ExxonMobil Corporation; Shell Bitumen and Construction Products S.A.; and Quaker Chemical Corp. The region is expected to witness moderate growth over the forecast period owing to stringent government regulations regarding carbon emissions into atmosphere resulting from petroleum-based products used for paving operations.
The Asia Pacific is anticipated to be one of the fastest-growing regions during the forecast period, with China being a major contributor towards overall growth in this region. Rapidly expanding construction sector coupled with increasing automobile sales on account of rising disposable income will drive bitumen demand in emerging economies such as China, India, Indonesia, Vietnam and Thailand over next eight years or so.
Growth Factors:
- Increasing demand for petroleum bitumen in the construction and paving industries as a result of growing population and rapid urbanization.
- Rising demand for bitumen in the automotive sector due to increasing production of passenger cars and commercial vehicles worldwide.
- Growing use of petroleum bitumen in roofing applications on account of its superior properties such as weather resistance, durability, and thermal insulation.
- Increasing investments in the oil & gas sector, which is likely to lead to an increase in the consumption of petroleum bitumen globally over the next few years.
Scope Of The Report
Report Attributes
Report Details
Report Title
Petroleum Bitumen Market Research Report
By Type
Construction Asphalt, Road Asphalt, Others
By Application
Road, Construction, Others
By Companies
CNPC, SINOPEC, CNOOC, Rosneft Oil, Gazprom Neft, Lukoil, BPCL, IOCL, HPCL, SK, S-Oil, Shell, Exxon Mobil, Pertamina, TIPCO, LOTOS, Marathon Oil, KoçHolding, CRH, Nynas, ConocoPhillips, Suncor Energy, POC, Petrobrás, NuStar Energy, Valero Energy, Pemex, Cepsa, Husky Energy, Total
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
128
Number of Tables & Figures
90
Customization Available
Yes, the report can be customized as per your need.
Global Petroleum Bitumen Market Report Segments:
The global Petroleum Bitumen market is segmented on the basis of:
Types
Construction Asphalt, Road Asphalt, Others
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
Road, Construction, 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:
- CNPC
- SINOPEC
- CNOOC
- Rosneft Oil
- Gazprom Neft
- Lukoil
- BPCL
- IOCL
- HPCL
- SK
- S-Oil
- Shell
- Exxon Mobil
- Pertamina
- TIPCO
- LOTOS
- Marathon Oil
- KoçHolding
- CRH
- Nynas
- ConocoPhillips
- Suncor Energy
- POC
- Petrobrás
- NuStar Energy
- Valero Energy
- Pemex
- Cepsa
- Husky Energy
- Total
Highlights of The Petroleum 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:
- Construction Asphalt
- Road Asphalt
- Others
- By Application:
- Road
- Construction
- 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 Petroleum 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
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- Consumer Insights
- Understanding Competition Scenario
- 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?
Petroleum bitumen is a thick, black liquid that is found in the earth's crust. It consists of molecules of petroleum and other organic materials. Petroleum bitumen can be refined into products such as gasoline, diesel fuel, and heating oil.
Some of the key players operating in the petroleum bitumen market are CNPC, SINOPEC, CNOOC, Rosneft Oil, Gazprom Neft, Lukoil, BPCL, IOCL, HPCL, SK, S-Oil, Shell, Exxon Mobil, Pertamina, TIPCO, LOTOS, Marathon Oil, Ko§Holding, CRH, Nynas, ConocoPhillips, Suncor Energy, POC, Petrobr¡s, NuStar Energy, Valero Energy, Pemex, Cepsa, Husky Energy, Total.
The petroleum 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 Petroleum 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 Petroleum Bitumen Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Petroleum 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 Petroleum 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 Petroleum Bitumen Market Size & Forecast, 2018-2028 4.5.1 Petroleum Bitumen Market Size and Y-o-Y Growth 4.5.2 Petroleum Bitumen Market Absolute $ Opportunity
Chapter 5 Global Petroleum 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 Petroleum Bitumen Market Size Forecast by Type
5.2.1 Construction Asphalt
5.2.2 Road Asphalt
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Petroleum 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 Petroleum Bitumen Market Size Forecast by Applications
6.2.1 Road
6.2.2 Construction
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Petroleum 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 Petroleum 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 Petroleum Bitumen Analysis and Forecast
9.1 Introduction
9.2 North America Petroleum 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 Petroleum Bitumen Market Size Forecast by Type
9.6.1 Construction Asphalt
9.6.2 Road Asphalt
9.6.3 Others
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 Petroleum Bitumen Market Size Forecast by Applications
9.10.1 Road
9.10.2 Construction
9.10.3 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 Petroleum Bitumen Analysis and Forecast
10.1 Introduction
10.2 Europe Petroleum 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 Petroleum Bitumen Market Size Forecast by Type
10.6.1 Construction Asphalt
10.6.2 Road Asphalt
10.6.3 Others
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 Petroleum Bitumen Market Size Forecast by Applications
10.10.1 Road
10.10.2 Construction
10.10.3 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 Petroleum Bitumen Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Petroleum 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 Petroleum Bitumen Market Size Forecast by Type
11.6.1 Construction Asphalt
11.6.2 Road Asphalt
11.6.3 Others
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 Petroleum Bitumen Market Size Forecast by Applications
11.10.1 Road
11.10.2 Construction
11.10.3 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 Petroleum Bitumen Analysis and Forecast
12.1 Introduction
12.2 Latin America Petroleum 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 Petroleum Bitumen Market Size Forecast by Type
12.6.1 Construction Asphalt
12.6.2 Road Asphalt
12.6.3 Others
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 Petroleum Bitumen Market Size Forecast by Applications
12.10.1 Road
12.10.2 Construction
12.10.3 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) Petroleum Bitumen Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Petroleum 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) Petroleum Bitumen Market Size Forecast by Type
13.6.1 Construction Asphalt
13.6.2 Road Asphalt
13.6.3 Others
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) Petroleum Bitumen Market Size Forecast by Applications
13.10.1 Road
13.10.2 Construction
13.10.3 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 Petroleum Bitumen Market: Competitive Dashboard
14.2 Global Petroleum Bitumen Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 CNPC
14.3.2 SINOPEC
14.3.3 CNOOC
14.3.4 Rosneft Oil
14.3.5 Gazprom Neft
14.3.6 Lukoil
14.3.7 BPCL
14.3.8 IOCL
14.3.9 HPCL
14.3.10 SK
14.3.11 S-Oil
14.3.12 Shell
14.3.13 Exxon Mobil
14.3.14 Pertamina
14.3.15 TIPCO
14.3.16 LOTOS
14.3.17 Marathon Oil
14.3.18 KoçHolding
14.3.19 CRH
14.3.20 Nynas
14.3.21 ConocoPhillips
14.3.22 Suncor Energy
14.3.23 POC
14.3.24 Petrobrás
14.3.25 NuStar Energy
14.3.26 Valero Energy
14.3.27 Pemex
14.3.28 Cepsa
14.3.29 Husky Energy
14.3.30 Total