세계의 아스팔트 시장 예측(-2032년) : 제품 유형, 등급, 유통 채널, 용도, 지역별 분석

According to Stratistics MRC, the Global Bitumen Market is accounted for $75.6 billion in 2025 and is expected to reach $105.6 billion by 2032 growing at a CAGR of 4.9% during the forecast period. Bitumen is a black, sticky, and highly viscous form of petroleum primarily used in road construction and waterproofing. It is composed of complex hydrocarbons and is obtained either naturally or as a residue from the distillation of crude oil. Bitumen serves as a binder in asphalt mixtures, holding aggregates together to form durable road surfaces. It is water-resistant, adhesive, and flexible, making it ideal for construction and industrial applications. In addition to paving, bitumen is used in roofing materials and sealing products. Its durability, weather resistance, and ability to withstand heavy traffic loads make it essential in modern infrastructure development.

According to the data released by the United States Census Bureau, the value of private construction for transportation in the United States increased by USD 16.31 billion in 2020 to USD 19.39 billion in 2023.

Market Dynamics:

Driver:

Increasing road construction activities

The growing demand for improved transportation infrastructure is a key driver of increasing road construction activities in the bitumen market. Rapid urbanization, population growth, and rising vehicle ownership are pressuring governments to expand and upgrade road networks. Additionally, major infrastructure initiatives such as India's Bharatmala Pariyojana and China's Belt and Road Initiative are boosting bitumen consumption. Technological advancements in paving techniques and the rising need for durable, weather-resistant roads further fuel the demand for bitumen in global construction projects.

Restraint:

Complexity of system debugging & maintenance

The complexity of system debugging and maintenance in bitumen production and application processes poses a significant challenge to market growth. Advanced machinery and automation used in bitumen mixing, laying, and quality control require skilled personnel for troubleshooting and upkeep. Downtime due to technical failures or delayed maintenance increases operational costs and project delays. Moreover, frequent system updates and intricate control mechanisms can overwhelm smaller contractors, limiting their participation and slowing adoption of modern bitumen technologies in developing regions.

Opportunity:

Advancements in bitumen technology

Advancements in bitumen technology are driven by the growing demand for more sustainable, durable, and efficient materials in infrastructure. Environmental regulations push for eco-friendly solutions like recycled and bio-based bitumen, reducing carbon footprints. The expansion of urbanization and infrastructure projects requires improved performance, leading to innovations such as polymer-modified and self-healing bitumen. Additionally, the integration of digital tools and smart technologies in production processes enhances quality control and operational efficiency, ensuring better performance, longer lifespan, and reduced maintenance costs in construction projects.

Threat:

Competition from alternative materials

Competition from alternative materials poses a significant threat to the bitumen market, negatively impacting its growth. Materials such as concrete, recycled plastics, and bio-based binders are gaining popularity due to their durability, environmental benefits, and lower maintenance needs. Governments and industries are increasingly adopting sustainable construction practices, which favor eco-friendly alternatives over petroleum-based bitumen. This shift reduces bitumen's market share, especially in regions focused on reducing carbon emissions and enhancing the longevity of infrastructure with greener building solutions.

Covid-19 Impact

The COVID-19 pandemic significantly disrupted the market, leading to a sharp decline in demand and production. Lockdowns and construction halts caused major infrastructure projects to be delayed or canceled, reducing the need for bitumen in road construction, waterproofing, and other applications. Supply chain disruptions and labor shortages further exacerbated the situation, leading to financial losses and uncertainty within the industry. However, as economies began to recover, governments initiated stimulus packages, including infrastructure investments, which helped revitalize the bitumen market and set it on a path toward recovery.

The oxidized bitumen segment is expected to be the largest during the forecast period

The oxidized bitumen segment is expected to account for the largest market share during the forecast period. This process increases its softening point and reduces penetration, making it more resistant to temperature fluctuations and weathering. Oxidized bitumen is widely utilized in various applications, including roofing, waterproofing, road construction, pipe coatings, and electrical insulation. Its durability, water resistance, and adhesive qualities make it a preferred choice for infrastructure projects requiring long-lasting performance in demanding conditions.

The waterproofing segment is expected to have the highest CAGR during the forecast period

Over the forecast period, the waterproofing segment is predicted to witness the highest growth rate. This technique involves applying bituminous materials, such as membranes or coatings, to surfaces like roofs, basements, foundations, and tunnels. Bitumen's inherent properties, including water resistance, flexibility, and strong adhesion, make it an ideal choice for creating durable waterproof barriers. The application process can vary, with options like torch-applied, self-adhesive, or liquid forms, depending on the specific requirements of the project

Region with largest share:

During the forecast period, the Asia Pacific region is expected to hold the largest market share driven by increasing infrastructure development, urbanization, and rising demand for road construction and maintenance. Countries like China, India, and Japan dominate the region, with major investments in transportation and industrial sectors. The shift towards sustainable and eco-friendly bitumen alternatives is also influencing market dynamics. Furthermore, government initiatives and growing demand for high-quality roads and pavements are expected to propel the market's expansion in the coming years.

Region with highest CAGR:

Over the forecast period, the North America region is anticipated to exhibit the highest CAGR, driven by factors such as increased infrastructure development, particularly in road construction and maintenance, as well as rising demand for durable paving materials. Growing investments in transportation networks and urbanization boost the consumption of bitumen in asphalt production. Additionally, the expansion of the oil and gas sector, including refining capacities, and innovations in bitumen production technology contribute to market growth. Environmental regulations and sustainable solutions also influence the demand for modified bitumen.

Key players in the market

Some of the key players profiled in the Bitumen Market include Exxon Mobil Corporation, Shell plc, BP PLC, NYNAS AB, Indian Oil Corporation Ltd., TotalEnergies SE, Gazprom Neft, Suncor Energy Inc., Marathon Petroleum Corporation, Valero Energy Corporation, Chevron Corporation, Petroleos Mexicanos, Richmond Group, Sika AG and Colas Group.

Key Developments:

In November 2024, TotalEnergies and Oil India Limited (OIL) signed a Cooperation Agreement to carry out methane emissions detection and measurement campaigns using TotalEnergies' pioneer AUSEA technology at OIL sites in India. State-owned enterprise OIL recently joined the Oil and Gas Decarbonization Charter (OGDC), a global industry initiative launched at COP28, co-chaired by TotalEnergies' CEO.

In July 2024, TotalEnergies and SSE have signed a binding agreement to create a joint venture to establish a new major player in EV charging infrastructure in the UK and Ireland, under the brand "Source". The new business will deploy in both countries up to 3000 high power charge points, meeting demand from EV and fleet owners to provide fast and reliable charging.

Product Types Covered:

• Paving Bitumen
• Oxidized Bitumen
• Cutback Bitumen
• Bitumen Emulsion
• Polymer Modified Bitumen (PMB)

Grades Covered:

• VG (Viscosity Grade) Bitumen
• Penetration Grade Bitumen
• Performance Grade (PG) Bitumen
• Multigrade Bitumen

Distribution Channels Covered:

• Direct Sales Channel
• Hybrid Channel
• E-Commerce and Digital Platforms
• Joint Ventures

Applications Covered:

• Roadways
• Waterproofing
• Roofing
• Adhesives & Insulation
• Other Applications

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2024, 2025, 2026, 2028, and 2032
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface

• 2.1 Abstract
• 2.2 Stake Holders
• 2.3 Research Scope
• 2.4 Research Methodology
  • 2.4.1 Data Mining
  • 2.4.2 Data Analysis
  • 2.4.3 Data Validation
  • 2.4.4 Research Approach
• 2.5 Research Sources
  • 2.5.1 Primary Research Sources
  • 2.5.2 Secondary Research Sources
  • 2.5.3 Assumptions

3 Market Trend Analysis

• 3.1 Introduction
• 3.2 Drivers
• 3.3 Restraints
• 3.4 Opportunities
• 3.5 Threats
• 3.6 Product Analysis
• 3.7 Application Analysis
• 3.8 Emerging Markets
• 3.9 Impact of Covid-19

4 Porters Five Force Analysis

• 4.1 Bargaining power of suppliers
• 4.2 Bargaining power of buyers
• 4.3 Threat of substitutes
• 4.4 Threat of new entrants
• 4.5 Competitive rivalry

5 Global Bitumen Market, By Product Type

• 5.1 Introduction
• 5.2 Paving Bitumen
• 5.3 Oxidized Bitumen
• 5.4 Cutback Bitumen
• 5.5 Bitumen Emulsion
• 5.6 Polymer Modified Bitumen (PMB)

6 Global Bitumen Market, By Grade

• 6.1 Introduction
• 6.2 VG (Viscosity Grade) Bitumen
• 6.3 Penetration Grade Bitumen
• 6.4 Performance Grade (PG) Bitumen
• 6.5 Multigrade Bitumen

7 Global Bitumen Market, By Distribution Channel

• 7.1 Introduction
• 7.2 Direct Sales Channel
• 7.3 Hybrid Channel
• 7.4 E-Commerce and Digital Platforms
• 7.5 Joint Ventures

8 Global Bitumen Market, By Application

• 8.1 Introduction
• 8.2 Roadways
• 8.3 Waterproofing
• 8.4 Roofing
• 8.5 Adhesives & Insulation
• 8.6 Other Applications

9 Global Bitumen Market, By Geography

• 9.1 Introduction
• 9.2 North America
  • 9.2.1 US
  • 9.2.2 Canada
  • 9.2.3 Mexico
• 9.3 Europe
  • 9.3.1 Germany
  • 9.3.2 UK
  • 9.3.3 Italy
  • 9.3.4 France
  • 9.3.5 Spain
  • 9.3.6 Rest of Europe
• 9.4 Asia Pacific
  • 9.4.1 Japan
  • 9.4.2 China
  • 9.4.3 India
  • 9.4.4 Australia
  • 9.4.5 New Zealand
  • 9.4.6 South Korea
  • 9.4.7 Rest of Asia Pacific
• 9.5 South America
  • 9.5.1 Argentina
  • 9.5.2 Brazil
  • 9.5.3 Chile
  • 9.5.4 Rest of South America
• 9.6 Middle East & Africa
  • 9.6.1 Saudi Arabia
  • 9.6.2 UAE
  • 9.6.3 Qatar
  • 9.6.4 South Africa
  • 9.6.5 Rest of Middle East & Africa

10 Key Developments

• 10.1 Agreements, Partnerships, Collaborations and Joint Ventures
• 10.2 Acquisitions & Mergers
• 10.3 New Product Launch
• 10.4 Expansions
• 10.5 Other Key Strategies

11 Company Profiling

• 11.1 Exxon Mobil Corporation
• 11.2 Shell plc
• 11.3 BP PLC
• 11.4 NYNAS AB
• 11.5 Indian Oil Corporation Ltd.
• 11.6 TotalEnergies SE
• 11.7 Gazprom Neft
• 11.8 Suncor Energy Inc.
• 11.9 Marathon Petroleum Corporation
• 11.10 Valero Energy Corporation
• 11.11 Chevron Corporation
• 11.12 Petroleos Mexicanos
• 11.13 Richmond Group
• 11.14 Sika AG
• 11.15 Colas Group