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Bitumen Market Strategy, Regional Analysis and Growth by Forecast to 2027

The bitumen market is estimated to observe substantial growth by 2027 primarily driven by the soaring product demand in the construction sector.

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Bitumen Market Strategy, Regional Analysis and Growth by Forecast to 2027

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  1. Bitumen Market Analytical Overview, Comprehensive Analysis, Segmentation, Competitive Landscape and Industry Poised for Rapid Growth 2027

  2. The bitumen market is estimated to observe substantial growth by 2027 primarily driven by the soaring product demand in the construction sector. Additionally, favorable government policies and housing market boom across leading regions are projected to further propel market growth through the forecast period. • Bitumen, also referred to as tar or pitch, is a petroleum-based hydrocarbon occurring naturally as a concentrated substance in pitch lakes and oil sands. It can either be in liquid state or take a semi-solid form. At higher temperatures, bitumen acts like a viscous liquid that can be combined with other components whereas, when it is cooled, it becomes an inert solid that is hydrophobic and durable. • Bitumen is majorly utilized in the construction sector as a key constituent in products that are used for roofing and paving. It offers excellent waterproofing and thermoplastic characteristics that are crucial in a wide range of applications. • With ongoing vaccination drives across the world, countries have shifted their focus towards post-pandemic recovery. To that effect, industries that were adversely impacted by the COVID-19 pandemic have resumed operations.

  3. This upsurge in construction activities is indicative of a robust recovery for builders in the following years. Consequently, the growing construction industry is positively influencing product demand across the globe. • The bitumen market has been categorized on the basis of product, application, and region. With respect to product, the market has further been categorized into oxidized bitumen, paving bitumen, bitumen emulsion, cutback bitumen, polymer modified bitumen, and others. • In 2020, the cutback bitumen sub-segment accounted for around 4.6% of the bitumen market and is estimated to garner a sizable revenue by the end of the forecast period. The bitumen emulsion sub-segment is projected to grow at a CAGR of over 4.6% through the assessment timeframe. The bitumen market from the others sub-segment is also calculated to expand at a significant pace over the following years. • Browse key industry insights spread across 224 pages with 161 market data tables & 27 figures & charts from the report, “Bitumen Market” in detail along with the table of contents @ https://www.gminsights.com/industry-analysis/bitumen-market

  4. Request for a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/1100

  5. Latest Research Report On Bitumen Market @ https://www.gminsights.com/industry-analysis/bitumen-market Request for a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/1100 Request for customization @ https://www.gminsights.com/roc/1100

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