Bitumen is a polycyclic aromatic hydrocarbon that is extremely condensed and soluble in carbon disulfide. It is a thick, black, and highly sticky mixture of organic liquids.
Natural bitumen is a tar-like type of petroleum that is so thick, dense, and heavy that it must be heated or diluted to flow. Bitumen contains sulphur as well as other heavy metals such as nickel, vanadium, lead, mercury, chromium, and other hazardous substances. Bitumen is commonly used in road paving, waterproofing, insulating, and sealing, among other things.
The global bitumen market is estimated to account for approximately US$ 121 Billion in terms of revenue volume by the end of 2027, growing at a CAGR of 5.2% during the forecast period (2019-2027)
According to the report, the global bitumen market is being pushed primarily by the increasing use of the material in the construction of roadways around the world. According to the report, the rate of construction of roadways and other related activities is rapidly increasing, resulting in a high demand for the worldwide bitumen market. Polymer modified bitumen, a form of bitumen, is greatly preferred due to its benefits, which include high porosity, excellent skid resistance, and low noise. PMB has an advantage over other materials because all three of its qualities are highly sought after in the global highways sector.
The worldwide bitumen market's growth pace, on the other hand, is severely hampered by the environmental concerns posed by bitumen use. The report divides the worldwide bitumen market into product and application segments, as well as geographically. In terms of goods, PMB dominated the global bitumen market in 2013. The category accounted for more than 65 percent of the market that year and is predicted to be the fastest-growing segment over the projection period of the report. PMB is also utilised in the waterproofing process.
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