Published on October 1, 2014
The global bitumen market is likely to reach USD 95.77 billion by 2020.
Bitumen is used for road construction and increased road development in countries like India, China and Brazil.
In 2013, road constructions reported largest use of bitumen, accounting for over 80 million tons of global consumption. Other applications include waterproofing, insulation and adhesives.
Water proofing is expected to arise as the fastest growing market for bitumen, at an estimated CAGR of 2.9% on volume basis.
