According to a research report titled ‘Asia Pacific Bitumen Market Size By Product, Application, Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 – 2027’, available with Market Study Report, Asia Pacific bitumen market is projected to record substantial returns over 2021-2027, garnering a valuation of USD 60 billion by the end of the analysis timeframe.
 

Report findings claim that surging demand for efficient construction materials owing to rapid expansion of infrastructure and construction industry is propelling Asia Pacific bitumen industry growth.  Moreover, growing necessity for proper roads in line with rising private and public investments in road infrastructure across developing economies for better connectivity and facilitating trade activities is also augmenting the market demand.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/3855706/
 

Moreover, various applications of bitumen in numerous industries, and consistent efforts undertaken by several prominent companies to develop innovative products are creating several new opportunities for business operating in this market sphere.
 

For the record, bitumen is a complex hydrocarbon largely used for road construction. It finds extensive application as a binder for construction materials such as aggregates, stones, etc.
 

Based on product type, paving, oxidized, cutback, polymer modified bitumen (PMB), and bitumen emulsion are the key segments covered in Asia Pacific bitumen market research literature. Among these, polymer modified bitumen segment is projected to record a CAGR of 5.6% through 2027. This can be credited to its excellent properties such as resistance to fatigue, low temperature sensitivity, high cohesiveness, extra strength, deformations and stripping.
 

Moving on to application, the market is classified into waterproofing, roadways, insulation, adhesives, and others. Of these, adhesives segment is anticipated to record a CAGR of 4.3% over the assessment period. Mounting demand for adhesives across regional end-use industries, rapidly increasing population, and rising income levels across are expected to drive segmental growth.
 

Moreover, bitumen is also being increasingly used in road construction application for developing durable pavements owing to its flexible, strong, and elastomeric properties when mixed with polymer.
 

Considering the geographical outlook, the industry size spans across India, China, Australia, Japan, Indonesia, Malaysia, and South Korea.
 

Prominent players in Asia Pacific bitumen market space are Oil and Natural Gas Corporation Ltd., Indian Oil Corporation Ltd., Bouygues S.A., China Petroleum & Chemical Corp. (Sinopec Corp.), Nynas AB, Exxon Mobil Corp., Valero Energy Corp., Chevron Corp., TotalEnergies SE, and Royal Dutch Shell plc.