San Francisco, California (PRWEB) July 30, 2014
The global market for bitumen is expected to reach USD 95.77 billion by 2020, according to a new study by Grand View Research, Inc. Bitumen, primarily used in road construction activities and increased road development in high growth markets of India, China, and Brazil, is expected to be a key driver for the growth of the market.
Roadway constructions were the major consumers of bitumen in 2013, accounting for over 80 million tons of global consumption. Other key applications include waterproofing, insulation, and adhesives. Waterproofing is expected to be the fastest growing application market for bitumen at an estimated CAGR of 2.9% on volume basis, primarily on account of improved Polymer Modified Bitumen (PMB) quality in water resistance. Environmental issues associated with the extraction of bitumen from oil sands are expected to remain a key challenge for the growth of the market in the near future.
The report, “Bitumen Market Analysis and Segment Forecast to 2020,” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/bitumen-market
Request free sample of this report at http://www.grandviewresearch.com/industry-analysis/bitumen-market/request
Further key findings from the study suggest:
For the purpose of this study, Grand View Research has segmented the global bitumen market on the basis of application, product, and region:
About Grand View Research:
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials, and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com/
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