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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.
Browse key industry insights from this 2018 report Latin America Bitumen Market in detail along with the table of contents at:
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
Segments We Cover:
Latin America Bitumen Market Statistics by Product
Polymer Modified Bitumen (PMB)
Latin America Bitumen Market Analysis by Application
The above information has been provided for the following countries:
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