Bitumen market seen topping $74.7 billion by 2030

By AI, Created 5:29 PM UTC, May 18, 2026, /AGP/ – The global bitumen market is projected to reach $74.7 billion by 2030, according to The Business Research Company, driven by road-building, climate-resilient maintenance and residential waterproofing demand. Asia Pacific is expected to be the biggest regional market, while the U.S. leads by country and paving grade remains the largest product segment.

Why it matters: - Bitumen is a core input for roads, waterproofing and other construction uses, so the forecast points to continued spending on transportation and housing infrastructure. - The market is projected to reach $74.7 billion by 2030, up from 2025 levels, in a broader chemicals market estimated at $7,007 billion by 2030. - The bitumen market is expected to account for nearly 1% of total chemicals industry value by 2030.

What happened: - The Business Research Company released a market forecast for the global bitumen market on May 14, 2026. - The report projects 5% compound annual growth through 2030. - Asia Pacific is forecast to be the largest regional market in 2030, valued at $32 billion. - The U.S. is forecast to be the largest country market in 2030, valued at $17 billion. - Paving grade bitumen is projected to be the largest product segment in 2030, accounting for 55% of the market, or $41 billion. - Request a free sample of the report - Access the detailed report

The details: - Asia Pacific is expected to grow from $23 billion in 2025 to $32 billion in 2030, a 6% CAGR. - The report links Asia Pacific growth to urban infrastructure expansion, highway and expressway projects, rural road connectivity, smart cities, industrial corridors and demand for durable road materials. - The U.S. market is expected to grow from $14 billion in 2025 to $17 billion in 2030, a 5% CAGR. - The U.S. outlook reflects road rehabilitation, transportation funding, demand for high-performance asphalt in extreme weather, warm mix asphalt adoption and investment in airport runways and commercial infrastructure. - The bitumen market is segmented by product type into paving grade, hard grade, oxidized grade, bitumen emulsions, polymer modified bitumen and other products. - The market is segmented by application into roadways, waterproofing and other applications. - The market is segmented by end-use sector into commercial and residential sectors. - Paving grade bitumen is supported by road surfacing and highway construction demand, binding performance, cost efficiency, recycled asphalt compatibility and broad availability. - The report says the largest growth opportunities are in paving grade, hard grade, oxidized grade, bitumen emulsions, polymer modified bitumen and other products. - Those segments are projected to add more than $17 billion in market value by 2030. - The paving grade segment is projected to grow by $9 billion from 2025 to 2030. - The hard grade segment is projected to grow by $1 billion. - The oxidized grade segment is projected to grow by $1 billion. - The bitumen emulsions segment is projected to grow by $2 billion. - The polymer modified bitumen segment is projected to grow by $3 billion. - The other products segment is projected to grow by $1 billion.

Between the lines: - The forecast points to infrastructure spending as the dominant demand driver, especially in emerging economies. - Climate resilience is becoming a stronger buying factor as roads face heat, rain and flooding. - Residential waterproofing and roofing are adding demand beyond the traditional road-building market. - The report’s growth estimates suggest specialty and higher-performance bitumen products are taking share as durability and lifecycle costs matter more.

What’s next: - The report expects transportation infrastructure expansion in emerging economies to contribute about 2.3% annual growth to the market. - Climate-resilient road maintenance is projected to contribute around 2.0% annual growth. - Residential waterproofing and roofing applications are projected to contribute about 1.5% annual growth. - Continued investment in highways, airports, industrial corridors and housing construction is likely to shape demand through 2030.

The bottom line: - Bitumen demand is being pulled by road construction, maintenance and waterproofing, with Asia Pacific, the U.S. and paving grade products set to capture the biggest shares of growth.