The latest market report published by Credence Research, Inc. “Global Conditioned/Packaged Bitumen Market: Growth, Future Prospects, and Competitive Analysis, 2015 – 2027”. The Global Conditioned/Packaged Bitumen demand stood at around 38,437 kilo tons in 2020 and is anticipated to grow at a CAGR of over 3.71% during the forecast period from 2021 to 2027 to reach around 45,690 in 2027
Global Conditioned/Packaged Bitumen Market, 2020 – 2027 (USD Million)
Browse the full report at https://www.credenceresearch.com/report/conditioned-packaged-bitumen-market
Conditioned/Packaged Bitumen is a bitumen that comes in the form of packaging i.e. steel drums or jumbo bags. Conditioned/Packaged Bitumen is same as bulk bitumen and the only difference is of packaging. Conditioned/Packaged Bitumen is in great demand for insulation and waterproofing applications. Key types of Conditioned/Packaged Bitumen include Paving, Oxidized, Cutback, Emulsion, Polymer Modified Bitumen and Others. Major applications of Conditioned/Packaged Bitumen are Roadways, Waterproofing, Adhesives, Insulation and Others.
Strong Demand for Waterproofing and Insulation in Roofing Applications
“Oxidized bitumen” is widely used in roofing applications and is commonly known as “roofing bitumen” or “roofing asphalt.” Waterproofing is an important part of roofing in residential and non-residential construction. Rapid infrastructure development in countries such as China, Brazil and India has resulted in the presence of a large number of houses and buildings in these regions. Although several other waterproofing materials are available in the retail market, bitumen provides excellent water-resistant and insulation qualities. Hence, it is being increasingly used in waterproofing applications. Additionally, research and development on bitumen has led to the production of several product types of bitumen, including PMB membranes and liquid bitumen. The ease of application with which PMB can be applied has led to higher demand for bitumen from the roofing sector. Moreover, development of different types of bitumen that suit the various slope angles of roofs is anticipated to drive the bitumen market in countries such as China, India and Brazil. Furthermore, rising awareness among builders and construction service providers about the advantages of bitumen is estimated to propel demand for bitumen for roofing applications over the next few years.
Increasing Adoption of Substitutes to Arrest the Growth in the Years to Come
Majority of bitumen produced every year is used for construction of roads across the globe. However, high fluctuation in prices and shortage of bitumen has resulted in development of several substitute products. These are currently being used on a significant scale. Bricks, pavers, cobblestone, concrete and cement are some of the substitutes that are being increasingly used in place of bitumen. Of this, concrete is the highest consumed product for construction and maintenance of roads.
Asia Pacific to Govern Future Growth of Global Conditioned/Packaged Bitumen Market
The demand for Conditioned/Packaged Bitumen is considerably high in Asia Pacific. Strong growth in the region can be attributed to the increasing road development projects and growing residential construction. Conditioned/Packaged Bitumen demand in China and India is growing at an attractive growth rate. North America and Europe are also expected to record steady demand for Conditioned/Packaged Bitumen over the forecast period.
Highly Fragmented Market
Key players operating in the global Conditioned/Packaged Bitumen include, ExxonMobil, Athabasca Oil Corporation, Royal Dutch Shell, TotalEnergies, Nynas, Valero Energy Corporation, Chevron Texaco Corporation, Indian Oil Corporation, Suncor Energy, China Petroleum and Chemical Corporation, Nustar energy, Bouygues, Villas Austria GmbH, Gazprom-Neft and Marathon Oil Corporation.
Global Conditioned/Packaged Bitumen Market by Type, 2015 – 2027
- Polymer Modified Bitumen
Global Conditioned/Packaged Bitumen Market by Application, 2015 – 2027
Global Conditioned/Packaged Bitumen Market by Packaging, 2015 – 2027
- Steel Drums
- Jumbo Bags
Global Conditioned/Packaged Bitumen Market by Company, 2015 – 2027
- Athabasca Oil Corporation
- Royal Dutch Shell
- Valero Energy Corporation
- Chevron Texaco Corporation
- Indian Oil Corporation
- Suncor Energy
- China Petroleum and Chemical Corporation
- Nustar energy
- Villas Austria GmbH
- Marathon Oil Corporation