Veracious Statistics Research’s Report on Bituminous Coatings Market studies past and the current growth opportunities and trends to gain key insights of these indicators of the market over the forecast period from 2020 to 2027. For the period 2020-2027, the study offers revenue of the remote weapon station market considering 2019 as the base year and 2027 as the forecast year. The compound annual growth rate (CAGR) for the market over the forecast period is also provided in the study.
The global Bituminous Coatings market is expected to witness significant growth on account of growing demand from the construction industry. The construction industry extensively uses bituminous coatings owing to its water and vapor proof properties. These paints are convenient to apply on the desired surfaces using paint brushes or sprays. Additionally, it is a superior waterproofing agent and protective coating that works best on exteriors such as concrete foundations. Bituminous coatings also termed as asphalt coatings, comprises of drying oils and coal tar that are generally black colored owing to the high percentage of bitumen in the formulations.
Global Bituminous Coatings Market to Grow Due to Increasing Applications in Building and Construction
Bituminous Coatings are used to form a flexible and vapor proof protective coating, depending on the formulation and grade of polymerization. With the grade of Polymer or Fibre Reinforcement used the grade of flexibility, behavior against water and vapor transmission, etc can be influenced. The construction manufacturing extensively uses bituminous paints owing to its vapor and water proof properties. Asphalt coatings also known as Bituminous paints, are one of the major products of the waterproof coating materials. Its possible waterproofing property and protective coating particularly on concrete foundations is expected to be a foremost factor driving market growth over the forecast period.
The key purpose of the report is to provide a growth map of the bituminous paints market and hence assist the client's in the formulation of required strategies to meet the business goals. Thus, there are many qualitative and quantitative tools used for growth mapping of the market. These include PESTEL analysis for various regions involved in the market, SWOT analysis of the industry, PORTER'S five forces for determination of different attributes such as the power of the buyer and supplier engaged in the market, threat of substitution, intensity of competition and threat of the new entrants in the market.
Key Factors Driving the Global Bituminous Coatings Market:
1. Increasing demand for bituminous paints is on account of its least expensive characteristic, which provides cathode protection in casing pipes such as road bores, this is further anticipated to complement bituminous paints market growth.
2. Additionally, bituminous paints’ chemical and UV resistant properties make it extremely suitable and reliable protective coating against corrosion. This is expected to further strengthen its demand over the next few years.
3. An easy bituminous paint application through brush, roller, and sprayers is projected to have a positive impact from end-user point of view.
4. Moreover, increasing bituminous paints utility in several end-use industries such as aviation, marine, and furniture is an important factor driving market growth.
5. The waterproofing application is expected to grow at a rapid rate over the forecast period owing to increasing use of bituminous paints as waterproofing materials in boats.
6. North America emerged as a leading regional market with majority of bituminous paints demand driven by U.S. Growing marine and aviation industries is expected to drive North America market growth over the forecast period.
Companies Launch New Products to Expand their Product Portfolio
As per the recent trends, the companies have various strategic collaborations is expected to have a synergistic effect on market. Such developments lead to partnership and boost the market competition.
1. 3 June 2020 - BASF Launches Bitumen Additive Designed to Makes Roads More Durable. BASF has spent several years developing the additive together with the Institute of Highway Engineering in Aachen and is now available under the name B2Last.
2. Apr 21, 2020 - VINNEVA®, Munich-based chemical company WACKER launched a new product line for polymer-modified bitumen emulsions. VINNEVA®, booster for bitumen coatings. As a binder in asphalt, bitumen can be found virtually everywhere. It furthermore serves as a water-repellent coating for roofs and walls.
This Global Bituminous Coatings Market Report Provides:
1. An overview of thorough analysis of the global Bituminous Coatings marketand related technologies.
2. Study of latest trends with precise annual growth rate estimates for compounds (CAGRs) and yearly valuations.
3. Identification of new market opportunities and targeted consumer marketing strategies for global Bituminous Coatings market.
4. Demand for new applications with new technologies and breakdown
5. Company profiles of significant players in industry.
The report offered by the experts’ presents in exhaustive market study with have established segments such as application, product type, and region. Every segment of the market and its sub-segments are comprehensively, deliberate based on their growth scenarios, market share, and CAGR. In each market, segment qualitative and quantitative information is offered with in-depth information for offering a complete market outlook.
A competitive landscape for the Bituminous Coatings market is given in the study. To differentiate business attributes, key players operating in the industry have been identified and profiled. Company overview, latest trends, financial standings, and SWOT are some of the characteristics of key players in the industry that have been profiled in this study. Main players covered by the study on the global market are: Henkel Polybit, Sika Malaysia, MC Bauchemie, C.R. Laurence, Crown Paints Kenya Ltd, WFP GmbH, Allinova.
The Report Provides Insights on The Following Pointers:
1. Market Development: Provides extensive information about emerging markets and analyzes the markets for the Global Bituminous Coatings Market
2. Market Penetration: Offers detailed information provided by the key players in the Global Bituminous Coatings Market
3. Competitive Assessment & Intelligence: Offers an exhaustive assessment of strategies, products, market shares and manufacturing capabilities of the leading players in the Global Bituminous Coatings Market
4. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and new product developments in the Global Bituminous Coatings Market
5. Market Diversification: Offers detailed information about recent developments, emerging geographies, new products launch, and investments in the Global Bituminous Coatings Market
The Report Answers Questions Such As:
1. What is the global bituminous coatings market's competitive position?
2. What is the size of the bituminous coatings market globally?
3. What are the key factors driving the growth in the global bituminous coatings market during the forecast period?
4. What are the opportunities in the global bituminous coatings market?
5. Which are the main product fields to be invested in over the projected period in the global bituminous coatings market?
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