Latin America Bitumen Market Analysis and Forecasts to 2024 Show Consistent Growth

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Bitumen Market in Latin America is projected to
surpass 5.7 bn by 2024 Graphical Research
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Key Insights from Latin America Bitumen Market

• Graphical Research says, Latin America Bitumen
  Market share to exceed 5.7 bn by 2024.
• The construction industry in Latin America deemed
  to be a profitable quotient for the product
  market owing to the marked increase in the
  construction projects from commercial to
  residential development to infrastructure and
  industrial facilities.
• The product also acts as a sealant and adhesive
  owing to their insoluble property which is used
  for water resisting applications which will
  propel the bitumen market. On the contrary, the
  fluctuation in oil prices will provide the
  sluggish growth to the product market.
• Paving bitumen is likely to hold nearly 70 of
  market share due to the construction activities
  in the region.
• In 2016, the Mexico Federal Government
  construction projects valued nearly USD 110
  billion in which 40 is allotted to Petróleos
  Mexicanos, 25 to highway, 22 to housing and
  multipurpose building development and remaining
  13 to other infrastructure projects.

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Continued...

• Increasing construction activities will propel
  the Latin America bitumen market in next seven
  years down the line.
• The application segment for the bitumen market is
  diversified into roadways, waterproofing,
  adhesives, insulations and others. Insulation and
  waterproofing will together hold nearly 12 of
  the overall market. Rising temperature of the
  earth owing to global warming will leads to
  increase in rooftop insulation demand which will
  robust the product market in next seven years.
• The key manufacturers of the bitumen industry
  include Shell, British Petroleum, Bouygues S.A,
  Chevron Texaco, Exxon Mobil, JX Nippon Oil
  Energy, Petróleos Mexicanos (PEMEX) and Total S.A

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reserved.


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Latin America Bitumen Market
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