비튜멘 시장 : 세계 산업 규모, 점유율, 동향, 기회, 예측, 제품 유형별, 용도별, 지역별, 경쟁별(2020-2030년)

Global Bitumen Market was valued at USD 60.25 Billion in 2024 and is anticipated to project steady growth in the forecast period with a CAGR of 3.70% through 2030. The global bitumen market is a crucial segment within the construction and infrastructure industries, driven by the increasing demand for high-quality materials essential for road construction, maintenance, and various industrial applications. Primarily derived from crude oil, bitumen is a key material in asphalt production for roads, as well as for paving and waterproofing solutions. As urbanization accelerates and infrastructure projects expand worldwide, the demand for bitumen is positioned for substantial growth, underpinned by both economic and environmental factors.

The market is experiencing steady expansion, supported by continued investments in infrastructure, rapid urbanization, and ongoing technological advancements in modified bitumen and bio-bitumen. Asia Pacific currently leads the market in terms of demand, while the growing emphasis on sustainable, high-performance materials presents new opportunities for product innovation and market expansion. As the industry evolves, environmental sustainability and advanced technologies will remain key drivers, influencing the future trajectory of the global bitumen market.

Key Market Drivers

Rapid Infrastructure Development and Urbanization

The global bitumen market is directly influenced by the pace of infrastructure development and urbanization, as bitumen is a critical material in the construction of roads, highways, bridges, airports, and commercial buildings. With governments and private entities increasing investments in large-scale infrastructure projects, the demand for bitumen has witnessed significant growth. Bitumen is the primary component in asphalt, which is extensively used for road paving and surfacing. As urban areas expand and economies grow, the need for efficient transportation systems increases, leading to a surge in road construction and maintenance projects worldwide. The global roadway network has expanded significantly, with an increase of approximately 12 million lane-kilometres since 2000, representing a 35% growth over the last decade. This expansion has been driven largely by infrastructure development in emerging economies, particularly in China and India, which together account for more than half of the total additions in paved lane-kilometres. These two countries have led the way in road network growth, reflecting their rapid economic development, urbanization, and government investments in transportation infrastructure. This expansion underscores the critical role of road networks in supporting global economic growth and connectivity. China's Belt and Road Initiative (BRI) aims to enhance global trade connectivity, requiring extensive road, bridge, and railway construction, thereby driving bitumen consumption.

The demand for bitumen-based waterproofing solutions in commercial and residential buildings is rising. High-rise buildings, shopping complexes, and industrial parks require durable and weather-resistant roofing, where bitumen-based materials play a crucial role. Cities worldwide are adopting intelligent transportation systems that require well-maintained roads, bridges, and tunnels, all of which rely on polymer-modified bitumen (PMB) for durability and longevity. Sustainable urban development projects emphasize eco-friendly and recyclable bitumen to meet environmental regulations. Middle Eastern cities like Dubai and Riyadh are expanding infrastructure with large-scale real estate and road projects, driving bitumen demand. Africa's urbanization boom is leading to increased government expenditure on road connectivity, further fueling bitumen consumption. Airports and seaports require high-performance bitumen solutions for runways, parking areas, and marine structures. The increase in global air traffic and international trade has led to greater investments in transportation hubs.

Key Market Challenges

Volatility in Price of Crude Oil

The volatility in crude oil prices presents a significant and ongoing challenge for the bitumen market. As bitumen, a crucial derivative of crude oil, is directly influenced by any fluctuations in oil prices, its own prices are subject to constant change. This volatility not only poses difficulties for companies in the bitumen industry to accurately predict costs and revenues, but it also introduces uncertainties that can hinder their growth and stability.

Moreover, a detailed analysis reveals that bitumen prices have exhibited greater volatility compared to light crude prices. This heightened volatility can be attributed to a multitude of factors, including geopolitical events, shifts in global supply and demand dynamics, and fluctuations in currency exchange rates. These combined elements contribute to the intricate web of volatility that surrounds the bitumen market, making it even more challenging for stakeholders to navigate and strategize effectively.

The implications of crude oil price volatility extend far beyond the bitumen industry itself. It impacts not only the pricing strategies of bitumen producers but also the cost structures of various industries that heavily rely on bitumen. For instance, sudden increases in crude oil prices can lead to higher bitumen costs, subsequently driving up construction expenses. This ripple effect highlights the interconnectedness of different sectors and underscores the need for comprehensive risk management strategies.

Furthermore, price volatility can also deter long-term planning and investment in the bitumen industry. The unpredictable nature of bitumen prices discourages stakeholders from making substantial commitments, hindering the industry's potential for growth and innovation. Additionally, the inherent instability in bitumen prices can create a competitive disadvantage when compared to alternative materials that offer more stable pricing structures.

By understanding the complexities of crude oil price volatility and its cascading effects on the bitumen market, industry players can develop proactive measures to mitigate risks, improve forecasting accuracy, and foster sustainable growth.

Key Market Trends

Growing Demand of Warm-Mix Asphalt (WMA)

Warm-Mix Asphalt (WMA) is a relatively new and innovative technology in the asphalt industry. It revolutionizes the way bitumen is mixed and placed on the road by utilizing lower temperatures compared to traditional hot-mix asphalt. This groundbreaking approach offers numerous advantages that go beyond the realm of conventional methods.

One of the key benefits of WMA is its significant reduction in energy consumption during production and application. By operating at lower temperatures, WMA minimizes the energy required to heat the asphalt mixture, resulting in substantial energy savings. This not only contributes to cost-effectiveness but also promotes sustainability by reducing the carbon footprint associated with asphalt production.

Furthermore, WMA plays a crucial role in reducing greenhouse gas emissions. The lower temperatures required for mixing and placing bitumen led to a substantial decrease in the release of harmful pollutants into the atmosphere. As a result, WMA becomes an environmentally friendly choice, aligning with global efforts to combat climate change and improve air quality.

In addition to its environmental benefits, WMA offers practical advantages in terms of pavement longevity and working conditions. The lower temperatures and slower cooling process of WMA allow for better compaction, resulting in denser and more durable road surfaces. This extends the pavement life, reducing the frequency of maintenance and repair, and ultimately saving costs for road authorities and taxpayers.

Moreover, the extended paving season facilitated by WMA is a game-changer for construction projects. With the ability to be applied in colder temperatures, WMA opens up opportunities for road works during seasons when traditional hot-mix asphalt would be impractical. This not only improves project scheduling and efficiency but also enhances overall productivity in the construction industry.

The growing demand for WMA is reshaping the global bitumen market on multiple fronts. Countries with stringent environmental regulations are embracing this technology to meet their sustainability goals while maintaining robust infrastructure development. Additionally, regions looking to minimize their environmental footprint are increasingly turning to WMA as a responsible choice for their road construction projects.

The rising popularity of WMA is driving significant investment in research and development within the bitumen industry. Companies are actively exploring ways to further enhance WMA technologies, improve their performance, and meet the evolving needs of the market. This wave of innovation is set to stimulate growth and expansion within the bitumen industry, leading to a more sustainable and efficient future.

Segmental Insights

Product Type Insights

Based on the category of product type, The paving grade bitumen segment has emerged as the fastest-growing segment in the global bitumen market, driven by a variety of factors related to infrastructure development, road construction, and urbanization. This category of bitumen, which is primarily used in road construction and resurfacing projects, is experiencing rapid growth due to its essential role in the construction of durable and high-performance roads. As countries continue to invest heavily in infrastructure to support growing populations, urbanization, and economic development, the demand for high-quality roads has surged. Paving grade bitumen, which is specifically designed for road construction, plays a critical role in ensuring road durability, smoothness, and resistance to traffic wear.

Major initiatives like China's Belt and Road Initiative (BRI) and India's Bharatmala Project are driving large-scale road and highway construction, significantly boosting the demand for paving grade bitumen. In Africa, infrastructure development projects aimed at improving road networks are contributing to increased consumption of paving grade bitumen. The rise in urban population and vehicle ownership in emerging economies is creating higher traffic volumes, necessitating the construction of more durable roads to withstand wear and tear, making paving grade bitumen indispensable.

Paving grade bitumen is specifically formulated for high-performance applications, designed to withstand heavy traffic loads and extreme weather conditions. The shift toward high-performance and long-lasting road surfaces is a key driver of the growth in this segment. A growing preference for polymer-modified bitumen in road construction, which enhances the performance characteristics of paving grade bitumen (such as elasticity, resistance to deformation, and crack resistance), is contributing to the segment's growth. This modification makes paving grade bitumen more suitable for high-traffic roads, highways, and areas with extreme climatic conditions, where ordinary bitumen would be less durable. There is a rising demand for eco-friendly paving materials that can withstand heavy traffic and weather extremes, thus increasing the use of paving grade bitumen in road construction and resurfacing projects. Sustainability initiatives, such as the use of recycled materials in road construction, are further fueling the demand for paving grade bitumen.

Regional Insights

The Asia Pacific (APAC) region stands as the largest market for bitumen globally, driven by several key factors related to infrastructure development, urbanization, and economic growth. As one of the fastest-growing regions, both in terms of population and economic output, the demand for bitumen in APAC has surged, making it the primary hub for bitumen consumption and production. The Asia Pacific region is experiencing one of the fastest rates of urbanization in the world, with cities rapidly expanding to accommodate growing populations. The corresponding demand for transportation networks, including roads, highways, and expressways, directly drives the consumption of bitumen. Countries like China, India, Indonesia, and Vietnam have been investing heavily in mega infrastructure projects to support their growing populations and urban centers. The expansion of road networks and the construction of new highways and expressways is a major driver of the bitumen market in the region. China's Belt and Road Initiative (BRI) has also contributed significantly to road construction projects across Asia, creating increased demand for bitumen, particularly paving grade bitumen. The ongoing development of high-speed corridors and urban transit systems in countries like India and China requires substantial amounts of high-performance bitumen to ensure the durability and longevity of road surfaces. Highway development in Southeast Asia is a key factor in driving bitumen consumption, as new roads are built to support both freight and passenger transport across the region.

The Asia Pacific region is home to some of the world's fastest-growing economies, such as China, India, and Indonesia, all of which are driving increased demand for bitumen in infrastructure and industrial applications. As the second-largest economy in the world, China remains the largest consumer of bitumen in the Asia Pacific region. The country's expansion of road networks, as well as its massive construction industry, significantly contributes to the global demand for bitumen. In China, bitumen is used in the construction of highways, urban roads, and rural road networks, and the country's rapid urbanization fuels continuous demand for infrastructure development, further accelerating bitumen consumption

Key Market Players

• Bouygues SA
• BP PLC
• China Petroleum & Chemical Corporation
• Exxon Mobil Corporation
• Icopal ApS
• Indian Oil Corporation Ltd
• JXTG Nippon Oil & Energy Corporation
• KRATON CORPORATION
• Nynas AB
• Shell PLC

Report Scope:

In this report, the Global Bitumen Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Bitumen Market, By Product Type:

• Paving Grade
• Hard Grade
• Oxidized Grade
• Bitumen Emulsions
• Others

Bitumen Market, By Application:

• Road Construction
• Waterproofing
• Adhesives
• Others

Bitumen Market, By Region:

• North America
  • United States
  • Canada
  • Mexico
• Europe
  • France
  • United Kingdom
  • Italy
  • Germany
  • Spain
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
• South America
  • Brazil
  • Argentina
  • Colombia
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Bitumen Market.

Available Customizations:

Global Bitumen Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Table of Contents

1. Product Overview

• 1.1. Market Definition
• 1.2. Scope of the Market
  • 1.2.1. Markets Covered
  • 1.2.2. Years Considered for Study
  • 1.2.3. Key Market Segmentations

2. Research Methodology

• 2.1. Objective of the Study
• 2.2. Baseline Methodology
• 2.3. Key Industry Partners
• 2.4. Major Association and Secondary Sources
• 2.5. Forecasting Methodology
• 2.6. Data Triangulation & Validation
• 2.7. Assumptions and Limitations

3. Executive Summary

• 3.1. Overview of the Market
• 3.2. Overview of Key Market Segmentations
• 3.3. Overview of Key Market Players
• 3.4. Overview of Key Regions/Countries
• 3.5. Overview of Market Drivers, Challenges, Trends

4. Global Bitumen Market Outlook

• 4.1. Market Size & Forecast
  • 4.1.1. By Value
• 4.2. Market Share & Forecast
  • 4.2.1. By Product Type (Paving Grade, Hard Grade, Oxidized Grade, Bitumen Emulsions, Others)
  • 4.2.2. By Application (Road Construction, Waterproofing, Adhesives, Others)
  • 4.2.3. By Region
  • 4.2.4. By Company (2024)
• 4.3. Market Map
  • 4.3.1. By Product Type
  • 4.3.2. By Application
  • 4.3.3. By Region

5. Asia Pacific Bitumen Market Outlook

• 5.1. Market Size & Forecast
  • 5.1.1. By Value
• 5.2. Market Share & Forecast
  • 5.2.1. By Product Type
  • 5.2.2. By Application
  • 5.2.3. By Country
• 5.3. Asia Pacific: Country Analysis
  • 5.3.1. China Bitumen Market Outlook
    • 5.3.1.1. Market Size & Forecast
      • 5.3.1.1.1. By Value
    • 5.3.1.2. Market Share & Forecast
      • 5.3.1.2.1. By Product Type
      • 5.3.1.2.2. By Application
  • 5.3.2. India Bitumen Market Outlook
    • 5.3.2.1. Market Size & Forecast
      • 5.3.2.1.1. By Value
    • 5.3.2.2. Market Share & Forecast
      • 5.3.2.2.1. By Product Type
      • 5.3.2.2.2. By Application
  • 5.3.3. Australia Bitumen Market Outlook
    • 5.3.3.1. Market Size & Forecast
      • 5.3.3.1.1. By Value
    • 5.3.3.2. Market Share & Forecast
      • 5.3.3.2.1. By Product Type
      • 5.3.3.2.2. By Application
  • 5.3.4. Japan Bitumen Market Outlook
    • 5.3.4.1. Market Size & Forecast
      • 5.3.4.1.1. By Value
    • 5.3.4.2. Market Share & Forecast
      • 5.3.4.2.1. By Product Type
      • 5.3.4.2.2. By Application
  • 5.3.5. South Korea Bitumen Market Outlook
    • 5.3.5.1. Market Size & Forecast
      • 5.3.5.1.1. By Value
    • 5.3.5.2. Market Share & Forecast
      • 5.3.5.2.1. By Product Type
      • 5.3.5.2.2. By Application

6. Europe Bitumen Market Outlook

• 6.1. Market Size & Forecast
  • 6.1.1. By Value
• 6.2. Market Share & Forecast
  • 6.2.1. By Product Type
  • 6.2.2. By Application
  • 6.2.3. By Country
• 6.3. Europe: Country Analysis
  • 6.3.1. France Bitumen Market Outlook
    • 6.3.1.1. Market Size & Forecast
      • 6.3.1.1.1. By Value
    • 6.3.1.2. Market Share & Forecast
      • 6.3.1.2.1. By Product Type
      • 6.3.1.2.2. By Application
  • 6.3.2. Germany Bitumen Market Outlook
    • 6.3.2.1. Market Size & Forecast
      • 6.3.2.1.1. By Value
    • 6.3.2.2. Market Share & Forecast
      • 6.3.2.2.1. By Product Type
      • 6.3.2.2.2. By Application
  • 6.3.3. Spain Bitumen Market Outlook
    • 6.3.3.1. Market Size & Forecast
      • 6.3.3.1.1. By Value
    • 6.3.3.2. Market Share & Forecast
      • 6.3.3.2.1. By Product Type
      • 6.3.3.2.2. By Application
  • 6.3.4. Italy Bitumen Market Outlook
    • 6.3.4.1. Market Size & Forecast
      • 6.3.4.1.1. By Value
    • 6.3.4.2. Market Share & Forecast
      • 6.3.4.2.1. By Product Type
      • 6.3.4.2.2. By Application
  • 6.3.5. United Kingdom Bitumen Market Outlook
    • 6.3.5.1. Market Size & Forecast
      • 6.3.5.1.1. By Value
    • 6.3.5.2. Market Share & Forecast
      • 6.3.5.2.1. By Product Type
      • 6.3.5.2.2. By Application

7. North America Bitumen Market Outlook

• 7.1. Market Size & Forecast
  • 7.1.1. By Value
• 7.2. Market Share & Forecast
  • 7.2.1. By Product Type
  • 7.2.2. By Application
  • 7.2.3. By Country
• 7.3. North America: Country Analysis
  • 7.3.1. United States Bitumen Market Outlook
    • 7.3.1.1. Market Size & Forecast
      • 7.3.1.1.1. By Value
    • 7.3.1.2. Market Share & Forecast
      • 7.3.1.2.1. By Product Type
      • 7.3.1.2.2. By Application
  • 7.3.2. Mexico Bitumen Market Outlook
    • 7.3.2.1. Market Size & Forecast
      • 7.3.2.1.1. By Value
    • 7.3.2.2. Market Share & Forecast
      • 7.3.2.2.1. By Product Type
      • 7.3.2.2.2. By Application
  • 7.3.3. Canada Bitumen Market Outlook
    • 7.3.3.1. Market Size & Forecast
      • 7.3.3.1.1. By Value
    • 7.3.3.2. Market Share & Forecast
      • 7.3.3.2.1. By Product Type
      • 7.3.3.2.2. By Application

8. South America Bitumen Market Outlook

• 8.1. Market Size & Forecast
  • 8.1.1. By Value
• 8.2. Market Share & Forecast
  • 8.2.1. By Product Type
  • 8.2.2. By Application
  • 8.2.3. By Country
• 8.3. South America: Country Analysis
  • 8.3.1. Brazil Bitumen Market Outlook
    • 8.3.1.1. Market Size & Forecast
      • 8.3.1.1.1. By Value
    • 8.3.1.2. Market Share & Forecast
      • 8.3.1.2.1. By Product Type
      • 8.3.1.2.2. By Application
  • 8.3.2. Argentina Bitumen Market Outlook
    • 8.3.2.1. Market Size & Forecast
      • 8.3.2.1.1. By Value
    • 8.3.2.2. Market Share & Forecast
      • 8.3.2.2.1. By Product Type
      • 8.3.2.2.2. By Application
  • 8.3.3. Colombia Bitumen Market Outlook
    • 8.3.3.1. Market Size & Forecast
      • 8.3.3.1.1. By Value
    • 8.3.3.2. Market Share & Forecast
      • 8.3.3.2.1. By Product Type
      • 8.3.3.2.2. By Application

9. Middle East and Africa Bitumen Market Outlook

• 9.1. Market Size & Forecast
  • 9.1.1. By Value
• 9.2. Market Share & Forecast
  • 9.2.1. By Product Type
  • 9.2.2. By Application
  • 9.2.3. By Country
• 9.3. MEA: Country Analysis
  • 9.3.1. South Africa Bitumen Market Outlook
    • 9.3.1.1. Market Size & Forecast
      • 9.3.1.1.1. By Value
    • 9.3.1.2. Market Share & Forecast
      • 9.3.1.2.1. By Product Type
      • 9.3.1.2.2. By Application
  • 9.3.2. Saudi Arabia Bitumen Market Outlook
    • 9.3.2.1. Market Size & Forecast
      • 9.3.2.1.1. By Value
    • 9.3.2.2. Market Share & Forecast
      • 9.3.2.2.1. By Product Type
      • 9.3.2.2.2. By Application
  • 9.3.3. UAE Bitumen Market Outlook
    • 9.3.3.1. Market Size & Forecast
      • 9.3.3.1.1. By Value
    • 9.3.3.2. Market Share & Forecast
      • 9.3.3.2.1. By Product Type
      • 9.3.3.2.2. By Application

10. Market Dynamics

• 10.1. Drivers
• 10.2. Challenges

11. Market Trends & Developments

• 11.1. Recent Developments
• 11.2. Product Launches
• 11.3. Mergers & Acquisitions

12. Global Bitumen Market: SWOT Analysis

13. Porter's Five Forces Analysis

• 13.1. Competition in the Industry
• 13.2. Potential of New Entrants
• 13.3. Power of Suppliers
• 13.4. Power of Customers
• 13.5. Threat of Substitute Product

14. Competitive Landscape

• 14.1. Bouygues SA
  • 14.1.1. Business Overview
  • 14.1.2. Company Snapshot
  • 14.1.3. Products & Services
  • 14.1.4. Financials (In case of listed)
  • 14.1.5. Recent Developments
  • 14.1.6. SWOT Analysis
• 14.2. BP PLC
• 14.3. China Petroleum & Chemical Corporation
• 14.4. Exxon Mobil Corporation
• 14.5. Icopal ApS
• 14.6. Indian Oil Corporation Ltd
• 14.7. JXTG Nippon Oil & Energy Corporation
• 14.8. KRATON CORPORATION
• 14.9. Nynas AB
• 14.10. Shell PLC

15. Strategic Recommendations

16. About Us & Disclaimer