The Bitumen Global Market Report 2023, provides comprehensive information on the bitumen market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032. Learn More On The Bitumen Market’s Growth: https://www.thebusinessresearchcompany.com/report/bitumen-global-market-report The global bitumen market size is expected to grow from $51.10 billion in 2022 to $53.66 billion in 2023 at a compound annual growth rate (CAGR) of 5.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of bitumen market is expected to reach $63.18 billion in 2027 at a CAGR of 4.2%. Get A Free Sample Of The Report (Includes Graphs And Tables) https://www.thebusinessresearchcompany.com/sample_request?id=11965&type=smp Bio-based bitumen development is a key trend gaining popularity in the bitumen market. Companies operating in the bitumen market are innovating new products to sustain their position in the market. For instance, in May 2021, Praj Industries, an India-based engineering solutions company, developed a distinctive method for producing bio-bitumen using lignin. The company’s innovative approach involved converting unprocessed phenol into bio-bitumen, offering an environmentally sustainable alternative to bitumen derived from fossil fuels. Bio-bitumen is positioned to have a substantial impact as a road construction material, simultaneously reducing CO2 emissions and promoting the growth of the bioeconomy. This further reinforces our unwavering confidence in our global leadership and commitment to innovation and technological advancements within the industrial biotech sector. The creation of a novel process for producing bio-bitumen from unprocessed phenol represents a notable advancement in bitumen production. This innovative approach offers the potential to reduce reliance on fossil fuel-derived bitumen and provides an ecologically viable solution. This significant development highlights the ongoing efforts to enhance bitumen production with innovative and eco-conscious technologies. The bitumen market is segmented: 1) By Product Type: Paving Grade, Hard Grade, Oxidized Grade, Bitumen Emulsions, Polymer Modified Bitumen, Other Products 2) By Application: Roadways, Waterproofing, Adhesives, Insulation, Other Applications 3) By End-Use Sector: Non-Residential, Residential, Other End-Users Asia-Pacific was the largest region in the bitumen market in 2022. The table of contents in TBRC’s bitumen market report includes: Executive Summary Market Characteristics Market Trends And Strategies Impact Of COVID-19 Market Size And Growth Segmentation Regional And Country Analysis . . . Competitive Landscape And Company Profiles Key Mergers And Acquisitions Future Outlook and Potential Analysis Learn About Us: The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players. Contact Us: The Business Research Company Europe: +44 207 1930 708 Asia: +91 88972 63534 Americas: +1 315 623 0293 Email: [email protected] Follow Us On: LinkedIn: https://in.linkedin.com/company/the-business-research-company Twitter: https://twitter.com/tbrc_info Facebook: https://www.facebook.com/TheBusinessResearchCompany YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ Blog: https://blog.tbrc.info/ Healthcare Blog: https://healthcareresearchreports.com/ Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model