Bitumen Market Size to Reach 181.37 million Tons by 2031, Driven by Road Construction and Infrastructure Investments | Mordor Intelligence

The global bitumen market rising from 140.9 million tons in 2026 to 181.37 million tons by 2031, at a 5.19% CAGR, driven by road construction and infrastructure demand.

Bitumen, a vital material derived from petroleum refining, plays a central role in road construction, roofing, and industrial applications. Its versatility, durability, and cost-effectiveness make it indispensable for infrastructure projects worldwide.

Growing public-sector investments in highways, airport runways, and climate-resilient pavements are sustaining long-term demand. At the same time, the shift toward polymer-modified bitumen and eco-friendly emulsions is creating new opportunities for suppliers. Asia-Pacific continues to dominate consumption, supported by aggressive infrastructure spending and flexible import strategies.

Emerging Trends in the Bitumen Industry

Rising Road Rehabilitation Spending

Rising Road Rehabilitation Spending Governments are prioritizing maintenance over new builds, ensuring consistent demand for penetration-grade binders. Programs such as the U.S. Infrastructure Investment and Jobs Act and Canada’s multi-billion-dollar road budgets highlight the importance of preservation strategies.

Airport Runway Expansion

Airport Runway Expansion Global aviation hubs, particularly in Asia and the Middle East, are investing heavily in runway projects. These require premium-grade bitumen capable of withstanding extreme stresses, creating a niche but profitable segment.

Infrastructure Stimulus in Emerging Economies

Infrastructure Stimulus in Emerging Economies Countries like Indonesia and India are rolling out large-scale projects, boosting regional demand. Asia-Pacific’s leadership is reinforced by strong trade ties with Middle Eastern suppliers.

Shift Toward Polymer-Modified Bitumen

Shift Toward Polymer-Modified Bitumen Extreme weather and heavier traffic loads are driving adoption of polymer-modified grades. These formulations enhance durability and reduce lifecycle costs, making them increasingly preferred in public procurement.

Sustainability and Recycling

Sustainability and Recycling Environmental regulations are encouraging the use of reclaimed asphalt pavement (RAP) and low-temperature emulsions. This trend is gradually reshaping supply chains and product specifications.

Gain Region-Wise Analysis and Localized Coverage, Including the Japanese Edition: https://www.mordorintelligence.com/ja/industry-reports/bitumen-market?utm_source=industrytoday

Bitumen Segmentation

By Product Type

• Penetration Grade: Dominates with over 66% share in 2025, expected to grow at 5.62% CAGR.
• Oxidized Grade: Used in roofing and waterproofing applications.
• Bitumen Emulsions: Favored for chip seals and microsurfacing due to lower energy use.
• Polymer-Modified Bitumen: Gaining traction for climate-resilient pavements.
• Other Products: Includes viscosity grade, cutback, and performance-grade bitumen.

By Application

• Road Construction: Accounts for 84.45% of global demand in 2025, projected to grow at 5.56% CAGR.
• Roofing: Driven by urbanization and stricter building codes.
• Adhesives and Sealants: Smaller but high-margin segment.
• Other Industrial Uses: Includes canal linings, tank foundations, and ballast stabilization.

By Geography

• Asia-Pacific: Largest market with 45.10% share in 2025, expanding at 6.31% CAGR.
• North America: Strong rehabilitation budgets but evolving environmental mandates.
• Europe: Facing refinery rationalization, with specialty grades gaining ground.
• Middle East: Leveraging feedstock availability and trade links with Asia.
• South America & Africa: Emerging markets with episodic demand surges from megaprojects.

Explore Key Players Details: https://www.mordorintelligence.com/industry-reports/bitumen-market/companies?utm_source=industrytoday

Bitumen Companies

·      BMI Group Holdings UK Limited

·      BP p.l.c.

·      China Petroleum and Chemical Corporation (Sinopec)

·      ENEOS Corporation

·      Exxon Mobil Corporation

·      Hindustan Petroleum Corporation Limited

·      Indian Oil Corporation Ltd

·      Kraton Corporation

·      Mangalore Refinery and Petrochemicals Limited

·      Marathon Petroleum Corporation

·      Nynas AB

·      Rosneft

·      Shell plc

·      Suncor Energy Inc.

·      The Bouygues Group

·      TotalEnergies

Conclusion:

Environmental regulations and crude oil price volatility present challenges, but they also encourage innovation in emulsions, recycled asphalt, and polymer-modified grades. Companies that adapt to these shifts balancing cost efficiency with sustainability will be best positioned to thrive.

As governments worldwide commit to infrastructure modernization, the bitumen industry will remain a cornerstone of global development, offering both scale and specialization for suppliers across regions.

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