Asia Pacific Bitumen Market to Cross USD 60 Bn by 2027

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Asia Pacific Bitumen Market to grow at 4.6 CAGR
from 2021 to 2027 Graphical Research
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Asia Pacific Bitumen Market size is expected to
cross USD 60 billion by 2027. Significant
expansion of construction and infrastructure
industry in Asia Pacific is propelling the demand
for efficient construction materials in the
region. One such material is Bitumen, which is a
complex hydrocarbon and is largely used for road
construction. It finds extensive application as a
binder in road construction materials such as
stones, aggregates, etc. Its superior natural
properties make it useful in waterproofing and
adhesives industries also.   As several
countries in Asia Pacific are making hefty
investments towards building the state-of-the-art
transport infrastructure in order to increase the
connectivity and facilitate trade activities, the
need for proper roads is gradually
expanding. Speaking of which, rising public and
private investments in road infrastructure across
the regional emerging economies is fueling the
product demand considerably. On account of
mounting product adoption, Asia Pacific Bitumen
market is estimated to observe a commendable
growth by registering a substantial valuation of
over USD 60 billion by 2027.
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Get sample copy of this research report _at_
https//bit.ly/3Piszqr Elaborating further on
bitumens application in road construction, the
product is being increasingly used to construct
durable pavements. Pavements are designed,
engineered and constructed for extreme climatic
conditions and for sustaining heavy-duty traffic.
Addition of polymer to bitumen changes its
characteristics to make it more elastomeric,
flexible and strong.   Apart from its
application in road construction, bitumen is also
used for manufacturing adhesives. For instance,
cold adhesives consist of bitumen, solvents,
fillers, fibers and stabilizers. Adhesives when
bonded with modified bitumen after solvent
evaporation helps in forming solvent weld.
Growing demand for adhesives in regional end-use
industries is positively influencing the industry
landscape. Besides, rapidly increasing population
in APAC and rising income levels will complement
the product adoption in waterproofing and
adhesive applications. Considering these factors,
adhesives segment is anticipated to record a
robust CAGR of 4.3 through 2027. Request for
customization _at_ https//bit.ly/3swdZBF
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With regards to the type of bitumen, polymer
modified bitumen is gaining immense popularity in
the industry. This bitumen grade consists of
polymers added to the conventional bitumen. It is
used in various end-use applications owing to its
excellent properties such as extra strength, high
cohesiveness, resistance to fatigue, deformations
and stripping. In addition, polymer modified
bitumen has better low-temperature sensitivity as
compared to the traditional products, making it
preferable for pavement applications. With wide
product applications, polymer modified bitumen
segment is projected to record a lucrative CAGR
of 5.6 through 2027.   Besides the
above-mentioned factors and wide product
applications in numerous industries, consistent
efforts undertaken by various prominent industry
players such as Royal Dutch Shell, Exxon Mobil
Corporation, Total S.A., and Valero Energy
Corporation are also providing lucrative
opportunities for the industry growth. These
companies are investing in research activities
and development of innovative products to gain a
competitive advantage in the industry. Citing an
instance, in 2017, Indian Oil Corporation Limited
announced the launch of its high-performance
bitumen product named DURAPAVE. Reportedly, the
DURAPAVE brand covers wide range of bitumen
products like Polymer Modified Bitumen (PMB),
Crumb Rubber Modified Bitumen (CRMB), bitumen of
different viscosity-grades, and bitumen
emulsions. This product launch apparently helped
the company in catering to the rising regional
demand and strengthening its presence in the
market.
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Segmentation of North America Remodeling
Market Asia Pacific Market, By
Product Oxidized Bitumen Cutback
Bitumen Bitumen Emulsion PMB Others Asia
Pacific Market, By Application Roadways Waterpro
ofing Adhesives Insulation Others
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The above information has been provided for the
following countries Asia Pacific
China India Japan Australia Indonesia Malay
sia South Korea
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