Bituminous Mixtures Market Size, Share & Growth Report 2031
Bituminous Mixtures Market Size, Share & Growth Report 2031
Segments - Bituminous Mixtures Market by Type (Cold and Hot), Application (Roads and Pavements), Material (Concrete and Steel), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :MC-5060
| 4.2 Rating
| 77 Reviews
| 201 Pages
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Report Description
The global bituminous mixtures market size was USD 52,048.33Mn in 2022 and is likely to reach USD 88646.48 Mn by 2031, expanding at a CAGR of 6.10% during 2023–2031. rising investments in infrastructure projects by public and private institutions is expected to fuel the market.
A bituminous mixture is made up of different aggregates such as stones, gravel, sand, dust, asphalt cement, steel, bitumen, and performance-enhancing additives used in the construction of a variety of structures including roads and pavements. Bituminous mixtures consist of fine aggregates, filler, binder, and coarse to withstand the damages caused by the stress and strain under traffic loading.
The bituminous mixtures are produced as per the structural requirements of the applications and associated distress mechanisms. Factors such as slip resistance and fatigue resistance are critically important in the construction of high-speed highways or freeways.
When a bituminous mixture is formed the engineers mix the aggregates in a precise manner to develop a material that could perform efficiently under volatile environmental and traffic conditions. The engineers evaluate various parameters such as stability, fatigue resistance, slip resistance, durability, and impermeability of the structures to be built before commencing the project. For example, while producing bituminous mixtures for pavements, engineers consider factors such as resistance to the effect of water, air, permanent deformation, and cracking caused by environmental changes and traffic loading.
The mechanics of materials and statistics of the aggregates and additives used in the production of the bituminous mixtures are carefully analyzed before the commencement of the bituminous mixture preparation. The stress-strain, fatigue, and cracking caused by the harsh traffic loading condition and harsh environmental conditions in the demographic region are considered while preparing the mixture to ensure that the final product meets the standard requirements of the performance. These aspects help engineers in identifying a calculated approach to specify, design, and control bituminous mixtures preparations with appropriate structural characteristics that are best suited for respective applications.
Bituminous Mixtures Market Dynamics
Drivers
Growing investments in infrastructure projects by public and private institutions are driving the market significantly. Globalization and industrialization need infrastructural support for efficient freight and logistics operations. The infrastructure projects undertaken by public and private entities boost the market.
Restraints
The disruptions in supply chain operations of raw materials required for the production of bituminous mixtures are likely to hamper the market. The regulations imposed by government entities, geopolitical unrest, or financial crisis affect the supply chain management operations of raw materials required for the production of bituminous mixtures.
Opportunities
The technological advancements in studying the mechanics of materials required for the production of bituminous mixtures and collecting relevant statistics are likely to create significant growth opportunities in the market. Researchers are taking efforts to formulate an agile version of bituminous mixtures that can withstand a variety of environmental challenges.
Scope of the Bituminous Mixtures Market Report
The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Bituminous Mixtures Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Type (Cold and Hot), Application (Roads and Pavements), and Material (Concrete and Steel) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Baker Hughes Company; Chevron Corporation; AMT TECHNO; TotalEnergies; Exxon Mobil Corporation; Veekay Industries; GP Global; The Richmond Group; Bouygues Group; BP p.l.c.; CEMEX, S.A.B. de C.V.; United Refining Compnay; Veekay industries; NuStar Energy L.P.; MARATHON OIL COMPANY; and Vulcan Materials Company |
Market Segment Insights
Based on type, the bituminous mixtures market is bifurcated into cold and hot. The hot segment is expected to expand at a significant pace during the projection period owing to its wide usage in road and pavement construction. Hot bituminous structures consist of binders that need to be heated for gaining good adherence to aggregates. The durability of the structures such as roads and pavements is increased with the use of bituminous mixtures.
On the basis of application, the global market is divided into roads and pavements. The roads segment is projected to register a considerable CAGR during the forecast period due to various infrastructure projects undertaken by public and private entities to expand connectivity between various markets. Europe's flagship Global Gateway project or China’s Belt and Road initiatives signifies the growth of the segment.
In terms of material, the bituminous mixtures market is categorized as concrete and steel. The concrete segment is expected to expand at a robust pace during the forecast period owing to the use of concrete in the bituminous mixtures for the construction of roads and pavements. Infrastructure developments in the underdeveloped pockets and policies adopted by governments to encourage connectivity to interiors parts of the world contribute to the growth of the segment.
Based on region, the global bituminous mixtures market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to dominate the market during the projection period owing to initiatives undertaken by governments in the region to promote connectivity to far-reach places in the region. Rising industrialization and urbanization boost the development of infrastructure intended to provide logistical support to manufacturing support. These factors contribute fuel the market in the region.
The market in North America is projected to grow at a rapid pace in the market, owing to the rising number of infrastructure projects undertaken by authorities to connect important ports and marketplaces through road connectivity. The growth of the market in the region is characterized by the investments brought by various funds raised by private institutions.
Segments
The bituminous mixtures market has been segmented on the basis of
Type
- Cold
- Hot
Application
- Roads
- Pavements
Material
- Concrete
- Steel
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Baker Hughes Company
- Chevron Corporation
- AMT TECHNO
- TotalEnergies
- Exxon Mobil Corporation
- Veekay Industries
- GP Global
- The Richmond Group
- Bouygues Group
- BP p.l.c.
- CEMEX, S.A.B. de C.V.
- United Refining Compnay
- Veekay industries
- NuStar Energy L.P.
- MARATHON OIL COMPANY
- Vulcan Materials Company
Competitive Landscape
Key players in the global bituminous mixtures market include Baker Hughes Company; Chevron Corporation; AMT TECHNO; TotalEnergies; Exxon Mobil Corporation; Veekay Industries; GP Global; The Richmond Group; Bouygues Group; BP p.l.c.; CEMEX, S.A.B. de C.V.; United Refining Compnay; Veekay industries; NuStar Energy L.P.; MARATHON OIL COMPANY; and Vulcan Materials Company.
These companies are adopting strategies including mergers, production expansion, acquisitions, partnerships, collaboration, and product launches to increase their consumer base worldwide. For instance,
- In August 2023, Vulcan Materials Company announced that it has completed the acquisition of U.S. Concrete to offer a diversified product portfolio to the consumers. The alliance is likely to bring innovation and operational excellence in the production processes with the value creation strategy.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Bituminous Mixtures Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Bituminous Mixtures Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Bituminous Mixtures Market - Supply Chain
4.5. Global Bituminous Mixtures Market Forecast
4.5.1. Bituminous Mixtures Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Bituminous Mixtures Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Bituminous Mixtures Market Absolute $ Opportunity
5. Global Bituminous Mixtures Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Bituminous Mixtures Market Size and Volume Forecast by Types
5.3.1. Cold
5.3.2. Hot
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Bituminous Mixtures Market Analysis and Forecast by Applications
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Applications
6.2.2. Y-o-Y Growth Projections by Applications
6.3. Bituminous Mixtures Market Size and Volume Forecast by Applications
6.3.1. Roads
6.3.2. Pavements
6.4. Absolute $ Opportunity Assessment by Applications
6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Bituminous Mixtures Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Bituminous Mixtures Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Bituminous Mixtures Demand Share Forecast, 2019-2026
8. North America Bituminous Mixtures Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Bituminous Mixtures Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Bituminous Mixtures Market Size and Volume Forecast by Types
8.4.1. Cold
8.4.2. Hot
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. North America Bituminous Mixtures Market Size and Volume Forecast by Applications
8.7.1. Roads
8.7.2. Pavements
8.8. Basis Point Share (BPS) Analysis by Applications
8.9. Y-o-Y Growth Projections by Applications
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Bituminous Mixtures Demand Share Forecast, 2019-2026
9. Latin America Bituminous Mixtures Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Bituminous Mixtures Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Bituminous Mixtures Market Size and Volume Forecast by Types
9.4.1. Cold
9.4.2. Hot
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Latin America Bituminous Mixtures Market Size and Volume Forecast by Applications
9.7.1. Roads
9.7.2. Pavements
9.8. Basis Point Share (BPS) Analysis by Applications
9.9. Y-o-Y Growth Projections by Applications
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Bituminous Mixtures Demand Share Forecast, 2019-2026
10. Europe Bituminous Mixtures Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Bituminous Mixtures Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Bituminous Mixtures Market Size and Volume Forecast by Types
10.4.1. Cold
10.4.2. Hot
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Europe Bituminous Mixtures Market Size and Volume Forecast by Applications
10.7.1. Roads
10.7.2. Pavements
10.8. Basis Point Share (BPS) Analysis by Applications
10.9. Y-o-Y Growth Projections by Applications
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Bituminous Mixtures Demand Share Forecast, 2019-2026
11. Asia Pacific Bituminous Mixtures Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Bituminous Mixtures Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Bituminous Mixtures Market Size and Volume Forecast by Types
11.4.1. Cold
11.4.2. Hot
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Asia Pacific Bituminous Mixtures Market Size and Volume Forecast by Applications
11.7.1. Roads
11.7.2. Pavements
11.8. Basis Point Share (BPS) Analysis by Applications
11.9. Y-o-Y Growth Projections by Applications
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Bituminous Mixtures Demand Share Forecast, 2019-2026
12. Middle East & Africa Bituminous Mixtures Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Bituminous Mixtures Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Bituminous Mixtures Market Size and Volume Forecast by Types
12.4.1. Cold
12.4.2. Hot
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Middle East & Africa Bituminous Mixtures Market Size and Volume Forecast by Applications
12.7.1. Roads
12.7.2. Pavements
12.8. Basis Point Share (BPS) Analysis by Applications
12.9. Y-o-Y Growth Projections by Applications
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Bituminous Mixtures Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Bituminous Mixtures Market: Market Share Analysis
13.2. Bituminous Mixtures Distributors and Customers
13.3. Bituminous Mixtures Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. Baker Hughes Company
13.4.2. Chevron Corporation
13.4.3. AMT TECHNO
13.4.4. TotalEnergies
13.4.5. Exxon Mobil Corporation
13.4.6. Veekay Industries
13.4.7. GP Global
13.4.8. The Richmond Group
13.4.9. Bouygues Group
13.4.10. BP p.l.c.
13.4.11. CEMEX, S.A.B. de C.V.
13.4.12. United Refining Compnay
13.4.13. Veekay industries
13.4.14. NuStar Energy L.P.
13.4.15. MARATHON OIL COMPANY
13.4.16. Vulcan Materials Company
Methodology
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