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Latin America Bitumen Market To Witness Elevated Growth During The Assessment Period: 2019-2024

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Latin America bitumen market was estimated at around USD 4.1 billion in 2017 with the growth rate of 4.6% during the forecast 2019-2024

— According to the Graphical Research new growth forecast report titled “Latin America Bitumen Market analysis based on Product, Application, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2018 – 2024”, estimated to exceed USD 5.7 billion by 2024. The construction industry in Latin America deemed to be a profitable quotient for the product market owing to the marked increase in the construction projects from commercial to residential development to infrastructure and industrial facilities. For instance, the construction of New Mexico City International Airport, inter-oceanic corridor to facilitate trade between Chile and Argentina and planned development of San Lorenzo Island into a satellite city in Peru will provide the humongous growth to the bitumen market.

Request for a sample of this report @ https://www.graphicalresearch.com/request/1028/sample

The product also acts as a sealant and adhesive owing to their insoluble property which is used for water resisting applications which will propel the bitumen market. On the contrary, the fluctuation in oil prices will provide the sluggish growth to the product market.

Paving bitumen is likely to hold nearly 70% of market share due to the construction activities in the region. In 2016, the Mexico Federal Government construction projects valued nearly USD 110 billion in which 40% is allotted to Petróleos Mexicanos (government owned oil company), 25% to highway, 22% to housing and multipurpose building development and remaining 13% to other infrastructure projects. Increasing construction activities will propel the Latin America bitumen market in next seven years down the line.

The application segment for the bitumen market is diversified into roadways, waterproofing, adhesives, insulations and others. Insulation and waterproofing will together hold nearly 12% of the overall market. Rising temperature of the earth owing to global warming will leads to increase in rooftop insulation demand which will robust the product market in next seven years.

The key manufacturers of the bitumen industry include Shell, British Petroleum, Bouygues S.A, Chevron Texaco, Exxon Mobil, JX Nippon Oil & Energy, Petróleos Mexicanos (PEMEX) and Total S.A

Browse key industry insights along with Table of Content @ https://www.graphicalresearch.com/industry-insights/1028/latin-america-bitumen-market

Segments we Cover:

Latin America Bitumen Market Statistics by Product
Paving Bitumen
Oxidized Bitumen
Cutback Bitumen
Bitumen Emulsion
Polymer Modified Bitumen (PMB)
Others

Latin America Bitumen Market Analysis by Application
Roadways
Waterproofing
Adhesives
Insulation
Others

Related Reports:

Asia Pacific Lubricant Packaging Market : https://www.marketwatch.com/press-release/hugh-growth-of-asia-pacific-lubricant-packaging-market-with-good-revenue-of-55bn-status-till-2024-2019-10-04

Europe Sandblasting Media Market : https://www.marketwatch.com/press-release/europe-sandblasting-media-market-expected-to-grow-at-2-bn-to-2024-2019-09-17

About Graphical Research:

Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.

Contact Info:
Name: Parikhit B.
Email: Send Email
Organization: Graphical Research
Website: https://www.graphicalresearch.com/industry-insights/1028/latin-america-bitumen-market

Source URL: https://marketersmedia.com/latin-america-bitumen-market-to-witness-elevated-growth-during-the-assessment-period-2019-2024/88926966

Source: MarketersMedia

Release ID: 88926966

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