Industry Background:
Bitumen is a thick liquid mixture obtained from hydrocarbons of petroleum after the distillation process. These are generally used to make roads, and pavements or do roofing. Bitumen additives are added to hold the road together as an adhesive agent as well as to decrease the viscosity of Bitumen as Bitumen cannot be used in its raw form alone. The market for Bitumen Additives is expected to rise with increasing expenditure on road construction. But the rising popularity of cemented or concreted roads has been a hindrance to the growth of Asphalt-Bitumen roads. Geographically, Asia Pacific is expected to remain the biggest market because of the large number of construction activities.This growth is primarily driven by Rapid Industrialisation and Urbanisation
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | K Tons |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Specialty Chemicals sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Honeywell International Inc. (United States), Huntsman Corporation (United States), Kao Corporation (Japan), Evonik Industries (Germany), BASF SE (Germany), AkzoNobel N.V. (Netherlands), Croda International PLC (United Kingdom), Arkema Group (France), DowDuPont (United States) and Royal Dutch Shell (Netherlands), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
The players are focusing on investing more in merger and acquisition activities. These will boost new launches and enhance their market presence. The companies are also planning strategic activities like partnerships, which will help sustain them in the market and maintain their competitive edge.
Regulatory Insights:
Construction Industry Development Council (CIDC) was established by the Planning Commission of the Government of India in collaboration with the Indian construction industry to carry out initiatives for the growth of the Indian construction industry. The Council gives the sector the push and the organizational framework it needs to improve quality standards in the nation.
Influencing Trend:
Increasing Capital Expenditure in Driveways and Parking Lots
Market Growth Drivers:
Rapid Industrialisation and Urbanisation and Rising Investments in road and transport Infrastructure
Challenges:
Harmful Impacts on the Environment caused because of Asphalt and Bitumen
Restraints:
Emergence of Concrete Roads and Pavements which are Considered More Durable
Opportunities:
India and Other Emerging Economies in Asia Pacific have increased their Capital Expenditure on Road Construction
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Bitumen Additives Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Bitumen Additives Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Bitumen Additives players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Bitumen Additives Study Sheds Light on
The Bitumen Additives Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Bitumen Additives industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Bitumen Additives industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.