Bitumen is a dark, highly viscous, and sticky substance manufactured from the distillation of crude oil during petroleum refining. It is primarily used as a binder in road construction. It is also used as an adhesive in applications such as waterproofing for roofing and electronics. Bitumen’s waterproof, durable, thermoplastic, modifiable, and recyclable nature makes it ideal as a construction and engineering material in various infrastructure activities.
A leading market study on the global bitumen market by Transparency Market Research states that the rapid increase in activities related to road development in the world has fuelled the bitumen market. According to the study report, the global bitumen market stood at US$71.44 billion in 2013 and is further expected to reach a market value of US$93.38 billion at the end of the 2014-2020 forecast period. The market is rapidly increasing at a CAGR of 3.9% between 2014 and 2020.
Browse Global Bitumen Market Report with Full TOC at http://www.transparencymarketresearch.com/bitumen-market.html
Various End Users Utilize Bitumen as a Binder for Sustainable Development
Bitumen is most commonly known as ‘asphalt’ or ‘asphalt cement’ in North America. Asphalt refers to a combination of bitumen and mineral aggregate specifically designed for paving applications. This material plays a key role in the global transportation infrastructure and thus drives economic growth in developed and emerging countries. Bitumen helps in building asphalt highways, motorways, parking areas, airport runways, coastal protection, reservoirs, driveways, canal linings, footpaths, cycle paths, and sport and play areas.
Due to the importance of the infrastructure activities to improve road networks in developed and developing nations, the demand for bitumen as a construction binder is high across the globe. The market is also growing due to the need to ensure the durability and quality of paved facilities. The bitumen market must provide effective materials for wider acceptance in various industrial applications. The rising construction activities for commercial buildings, industries, and housing are expected to drive the demand for bitumen over the next six years.
The high resistance of polymer modified bitumen (PMB) to water has increased its usage in the roofing industry. This expansion is expected to grow over the forecast period 2014-2020.
Bitumen’s Allure for Roofing Manufacture Boosts Global Bitumen Market
The bitumen roofing market, which comprises about ten million metric tons of bitumen per year globally, encompasses a broad range of products and application practices. Bitumens used in the roofing industry are effective engineering materials specifically built to meet varying physical properties to match the various requirements and specifications in commercial applications.
Owing to its physical properties, bitumen has become an attractive option in roofing applications. It has long been used in a wide variety of products, including those applied after softening the material to ensure good adhesion to the roof substrate as well as those using hot liquid bitumen to laminate the elements of the roof system.
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Bitumen Roofing Shingles
Bitumen roofing shingles are the key roofing products used on steep-slope structures, particularly in North America. Bitumen shingles are typically made up of glass fiber mats with a combination of limestone mineral filler and oxidized coating bitumen. They are durable solid materials that are installed over a bituminous peel-and-stick or felt-based underlayment in an overlapping manner that helps shed water.
For years, this product has led the shingles industry due to its effective results. Bitumen shingles have the ability to reduce the bitumen fume exposures and are thus increasingly being used in various shingle manufacturing plants across the United States and several European countries.
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