Best Market Research Reports

 Allied Market Research published a report, titled, "Bitumen Market by Type (Paving Grade Bitumen, Oxidized Grade Bitumen, Polymer Modified Bitumen, Bitumen Emulsions, and Others) and By End-use Industry (Road Construction, Waterproofing, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032." According to the report,The global bitumen market was valued at $75.3 billion in 2024, and is projected to reach $128.3 billion by 2034, growing at a CAGR of 5.6% from 2025 to 2034.

Bitumen is a highly viscous, black, and sticky form of petroleum, typically known as asphalt in the United States. It may be a natural deposit or a refined product and is classified as pitch. The Pitch Lake, located in southwest Trinidad, is the world's largest natural deposit, containing an estimated 10 million tons of bitumen. Most of the bitumen is used in road construction, primarily as a glue or binder combined with whole particles to form asphalt concrete. Additionally, it is used in the manufacture of leak proofing products, such as for sealing flat roofs, and asphalt felt.

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Prime Determinants of Growth:

The global bitumen market is experiencing growth due to rising road construction activities, and increased demand for waterproofing applications. However, the fluctuation in prices of raw materials restrains the global bitumen market growth to some extent. On the other hand, the development of bio-bitumen is expected to create ample opportunities for market growth in the upcoming years.

Report Coverage & Details:

Forecast Period 2024-2034
Base Year 2024
Market Size in 2025 $75.3 Billion
Market Size in 2034 128.3 Billion
CAGR 5.6 %
No. of Pages in Report 328
Segments Covered
Type, End-Use industry, Region

Drivers
Rising road construction activities
Increased demand for waterproofing applications

Opportunities
Development of bio-bitumen

Restraints
Fluctuation in prices of raw materials
The paving grade bitumen segment to maintain its lead position during the forecast period-

Based on type, the paving grade bitumen segment held the largest share in 2022, contributing to nearly two-thirds of the global bitumen market revenue, and is expected to maintain its lead position during the forecast period. Rapid urbanization and population growth, particularly in emerging economies, have led to a significant increase in infrastructure development. Governments are investing in the construction and expansion of roads, highways, airports, and other transportation networks to meet the growing demand for efficient transportation. Paving grade bitumen is a crucial component in road construction, and the surge in infrastructure projects has resulted in increased demand for bitumen. On the other hand, the polymer modified bitumen segment would showcase the fastest CAGR of 5.6% from 2024 to 2034.

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The road construction segment to maintain its leadership status throughout the forecast period-

Based on the end-use industry, the road construction segment accounted for the largest share in 2022, contributing to more than four-fifths of the global bitumen market revenue, and is anticipated to maintain its leadership status throughout the forecast period. The same segment would also display the fastest CAGR of 5.6% throughout the forecast period. Roads are an important mode of transport across the globe. Many emerging economies, particularly in Asia and Africa, have seen a surge in road construction projects in the past couple of decades. Nations like China and India have massively invested in improving their infrastructure to support its growing populations and growing economies.

Asia-Pacific to maintain its dominance by 2034-

Based on region, Asia-Pacific held the highest market share in 2024, contributing to nearly half of the global bitumen market revenue, and is likely to dominate the market throughout the forecast period. The same region would also portray the fastest CAGR of 5.6% from 2024 to 2034. China's relentless urbanization and infrastructural development have amplified its demand for bitumen. As the world's most populous country and the second-largest economy, China's focus on constructing highways, airports, and urban roads underscores its priority to bolster both intra and inter-city connectivity. Bitumen, with its primary use as a binder in road asphalt, is fundamental to this vision. This increasing demand is also influenced by China's Belt and Road Initiative (BRI), a monumental infrastructural project spanning numerous countries. This initiative, aiming to enhance trade routes and connectivity, involves extensive road and infrastructure development, naturally pushing the bitumen demand even higher.

Leading Market Players: -

ASPHALT AND BITUMEN WEST CO.
RAHA BITUMEN, INC.
EXXON MOBIL CORPORATION.
ROYAL DUTCH SHELL
SINOPEC
NYNAS AB.
GOIL PLC
GAZPROM
HINDUSTAN PETROLEUM CORPORATION LTD.
TOTALENERGIES

The report provides a detailed analysis of these key players in the global bitumen market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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  Allied Market Research published a report, titled, "Global Carbon Nano Materials Market by Product Type (Graphene, Carbon Nanofibers, Fullerenes, Others): Global Opportunity Analysis and Industry Forecast, 2022-2031." According to the report, the global carbon nano materials market accrued a sum of $2.9 billion in 2021, and is projected to reach $31.6 billion by 2031, witnessing a CAGR of 27.7% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

Carbon nanomaterials have excellent electrical, chemical, thermal, and mechanical properties. Carbon nanomaterials have uses in energy storage and conversion, composite materials, sensors, field emission devices, drug delivery, and nanoscale electronic components. Fullerenes, carbon nanotubes (CNTs), graphene and its derivatives, graphene oxide, nanodiamonds, and carbon-based quantum dots are examples of carbon nanomaterials (CQDs). Carbon nanomaterials have piqued the interest of a wide range of industrial applications due to their unique structural dimensions and improved mechanical, electrical, thermal, optical, and chemical capabilities.

Drivers and Opportunities

Growth in use of carbon nanoparticles in different end use industries such as automobile, medical, energy, electronics, aerospace, construction and wastewater treatment drive the growth of the global carbon nanomaterials market. However, high processing costs and risks associated with the exposure to carbon nanomaterials on human health and the environment hamper the market growth. On the other hand, rapid urbanization and rise in investments in the construction and medical industries, especially in the emerging countries of China and India are expected to present lucrative opportunities for the market growth in the coming years.

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The fullerenes segment to maintain its lead position during the forecast period

Based on product type, the fullerenes segment accounted for more than 90% of the global carbon nanomaterials market in 2021, and is expected to maintain its lead position during the forecast period. This is due to the wide range of applications of fullerenes in electrical and electronics, energy and automotive industries. However, the graphene segment is projected to manifest the fastest CAGR of 31.0% during the forecast period, owing to the increased demand for graphene from electrical and electronics and energy industries. Furthermore, ongoing research and development activities relating to graphene is expected over the next few years to generate new prospects for the major manufacturers in the market. The research also provides an analysis of carbon nanofibers and others.

Asia-Pacific to maintain its dominance in terms of revenue by 2031

Based on region, Asia-Pacific was the largest market in 2021, accounting for nearly two-fifths of the global carbon nano materials market, and is expected to maintain its dominance during the forecast period. Moreover, the same segment is expected to grow at a CAGR of 29.1% during the forecast period. This is due to increase in demand for carbon nanomaterials in Asia-Pacific due to the presence of large number of electrical and automobile industries in the region. China being a prominent exporter of consumer electronic products in large volume will positively fuel the growth of the market in Asia-Pacific. The report also offers an analysis of Europe, North America and LAMEA.

Leading Market Players

Arkema Group
Bayer AG
DuPont
G6 Materials Corp
Graphenea
Hollingsworth & Vose
Hydale Graphene Industries Plc
Hyperion Catalysis International, Inc.
Jiangsu Cnano Technology Co., Ltd.
LG Chem Ltd.
MTR Ltd.
Nano-C
Nanocyl SA
Otto Chemie Pvt. Ltd.
SES Research Inc.

The report analyzes these key players of the global carbon nano materials market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.

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Japan and South Korea Overview
 1) Japan accquired 7.7% market share in Asia-Pacific region and is projected to grow at a CAGR of 25.7% during the forescated period.
 2) South Korea accquired 5.1% market share in Asia-Pacific region and is projected to grow at a CAGR of 27.8% during the forescated period.
 3) Rapid industrialization and increased investments in the medical and automotive industries in the emerging economies of South Korea, and   4) Japan, these countries are anticipated to be the fastest-growing market.
 5) Companies have intensified R&D in carbon nanomaterials in response to increasing demand from several end-use sectors in the area of       Japan and China, which is projected to have a favorable effect on the carbon nanomaterials market.