Africa Bitumen Market Growth Assessment, Industry Trends, Changing Development Strategies by 2030
Africa Bitumen Market12
Market Dynamics:
The Africa bitumen market is expected to witness significant growth, driven by growing road infrastructure development projects across major countries like South Africa, Nigeria, Kenya etc. Governments in these countries are heavily investing in construction and expansion of road networks to support rapid urbanization and boost economic activities. For instance, Kenya has launched multiple road construction initiatives like the Standard Gauge Railway project and Africa Ultra Modern mass transportation system project. Similarly, Nigeria recently commenced a number of road constructions projects worth $5.4 billion under its Highway Development and Management Initiative. Moreover, rising demand from residential and commercial construction activities is also expected to propel the market growth over the forecast period.
The Africa bitumen market is expected to surpass US$ 751.54 million by the end of 2028, in terms of value, exhibiting at a CAGR of 5.3% during the forecast period (2021 to 2028)
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Africa Bitumen Market Drivers:
Infrastructure Development Projects is Driving the Demand for Bitumen
The governments across Africa are investing heavily in infrastructure projects such as road construction, railway network expansion, airport development and other civil construction works to boost economic growth. Rapid urbanization and growing population are necessitating new transport links, industrial zones, commercial and residential buildings which require large quantities of bitumen for paving and roofing applications. Various international organizations are also funding mega infrastructure projects in Africa. For example, China is investing over $60 billion under Belt and Road Initiative in Africa. All these projects are generating significant demand for bitumen in African countries.
Growing Road Network is Fueling Consumption of Bitumen Products
With rising motorization levels, most African nations are striving to expand and upgrade their road connectivity within and between cities/regions. Total length of roads in Africa has grown from 1 million km in 1970 to over 3.6 million km currently. Countries like Ethiopia, Kenya, Morocco, Egypt, South Africa etc. are actively involved in boosting their road infrastructure. As bitumen is the primary material used for paving and surfacing of roads, highways and streets, higher road construction activities translates into increased bitumen consumption. Governments as well as private contractors are major patrons of bitumen for meeting their road development targets.
Top Key Players:
Exxon Mobil Corporation, Royal Dutch Shell Plc., RAHA Bitumen, Inc., Tekfalt Binders (Pty) Ltd., SprayPave, Indian Oil Corporation Ltd., GOIL Company Limited, Wabeco Petroleum Ltd., Tiger Bitumen, and Richmond Group
Detailed Segmentation:
Africa Bitumen Market, By Product Type:
Paving Grade
Oxidized Grade
Bitumen Emulsions
Polymer Modified Bitumen
Others
Africa Bitumen Market, By Application:
Roadways
Waterproofing
Adhesive
Insulation
Others (Footwear, Pillows, etc.)
Regional Analysis:
⁃ North America: United States, Canada, and Mexico
⁃ South & Central America: Argentina, Chile, Brazil and Others
⁃ Middle East & Africa: Saudi Arabia, UAE, Israel, Turkey, Egypt, South Africa & Rest of MEA.
⁃ Europe: UK, France, Italy, Germany, Spain, BeNeLux, Russia, NORDIC Nations and Rest of Europe.
⁃ Asia-Pacific: India, China, Japan, South Korea, Indonesia, Thailand, Singapore, Australia and Rest of APAC.
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Africa Bitumen Market Opportunity:
Rise of Public-Private Partnership Model
Many African nations are opening up opportunities for private sector investments in infrastructure development through public-private partnership (PPP) model. Projects involving road construction, railways, ports, airports, industrial corridors etc. are being conceptualized on PPP mode. This enables risk sharing and wider resource mobilization. Private construction giants as well as bitumen producers can tie-up with African governments to implement challenging infrastructure initiatives. Foreign direct investments are also being encouraged through tax incentives and relaxation of policies. Successful implementation of PPP projects would bolster consumption of building materials like bitumen over the long-run in Africa.
Africa Bitumen Market Trends:
Growing Usage of Polymer Modified Bitumen
With advancing technologies, polymer modified bitumen (PMB) is gaining popularity in road construction sector of Africa. Addition of polymers improves characteristics of traditional bitumen such as resistance to rutting/permanent deformation, thermal cracking and aging. PMB offers enhanced flexibility and adhesion properties. It extends service life of pavements and reduces maintenance costs. Researchers are conducting feasibility studies on usage of crumb rubber and other additives in bitumen. Governments are promoting modified bitumen especially for highways, airport runways and heavy traffic roads in urban centers. This shift towards advanced bitumen variants is a major trend in African markets.
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Key Questions Addressed in the Market Report:
What is the expected size, share, and CAGR of the Africa Bitumen Market over the forecast period?
What are the key trends expected to influence the Africa Bitumen Market between 2023 and 2030?
What is the expected demand for various types of products/services in the Africa Bitumen Market?
What long-term impact will strategic advancements have on the Africa Bitumen Market?
Who are the key players and stakeholders in the Africa Bitumen Market?
What are the different segments and sub-segments considered in the Africa Bitumen Market research study?
Strategic Points Covered in Table of Content of Global Africa Bitumen Market:
Chapter 1 : Introduction, market driving forces, and product The study and research objectives are to investigate the Africa Bitumen market.
Chapter 2: Exclusive Summary - Africa Bitumen Market Fundamentals.
Chapter 3: The Changing Impact on Market Dynamics- Drivers, Trends, and the Challenges and Opportunities of Process Spectroscopy
Chapter 4: Africa Bitumen Market Factor Analysis, Porter's Five Forces Analysis, Supply/Value Chain, SWOT Analysis, Market Entropy, and Patent/Trademark Analysis are all presented in this chapter
Chapter 5: 2017-2022 Forecast by Type, End User, and Region/Country
Chapter 6: Evaluating the key players in the Africa Bitumen market, including the Competitive Landscape, Peer Group Analysis, BCG Matrix, and Company Profile.
Chapter 7: To evaluate the market by segments, countries, and manufacturers/companies, as well as revenue share and sales by major countries in these regions (2023-2030).
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