Bitumen is obtained in the form of the residue from the distillation of crude oil. It was first utilized due to its waterproofing and natural adhesive properties, which helps to bind building materials together and line ship bottoms. This is also used as a medicine. The demand of bitumen is growing for infrastructure due to increasing the population and improving the standard of living which is anticipated to bolster the growth of bitumen market during forecast period.
Data Bridge Market Research analyses that the bitumen market was valued at USD 51.70 billion in 2021 and is expected to reach USD 70.43 billion by 2029, registering a CAGR of 3.94 % during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.