Bituminous Paints Market: Suitable for Construction and Marine Environments, Growth in Asia Pacific 2016 - 2024

Bituminous paints are corrosion resistant and provide weatherproofing, which make them suitable for construction and marine environments. Applications of bituminous paints include protective coating, wood, water proofing, steel, concrete, and timber among others. Bituminous paints were predominantly used as waterproofing substance for boats, however, with increasing research and development the application base of bituminous paints have increased fourfold. 

The market study analyzes the growth trends, market dynamics, and product innovations that will impact the development of the global bituminous paints market for the 2016-2024 period. The report segments the global market based on various parameters to present an in-depth analysis of the market. 

The report is prepared after an extensive research phase and valuable inputs received from industry experts. The report presents a detailed assessment of the current competitive landscape and the changing hierarchical structure by the end of 2024. Using validated analytical tools, the report presents an analysis of strengths, weakness, opportunities, and threats of the global bituminous paints market until the end of 2024. The report is compiled in a chapter-wise format, with each chapter analyzing a particular aspect of the market at length.

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Global Bituminous Paints Market: Drivers and Restraints 

The easy applicability of bituminous paints is one of the foremost factors driving the global bituminous paints market. Bituminous paints are supplied in ready to use form and usually do not require any external agent to be added to the paint before use. Bituminous paints are applied on the desired surface using traditional painting techniques such as paint brushes and spraying. 

Bituminous paints are predominantly used for commercial applications such as machinery, pipes, water tanks, etc. Hence, the demand for bituminous paints is extensively dependent on industrial pursuits in any region. The GDP growth is also a major growth driver for the bituminous paints market. 

However, volatile prices of crude oil, which is the major feedstock for the production of bituminous paints, leading to obscure profitability projections in the bituminous paints market is challenging the growth of this market. Bituminous paints pose hazard to the environment, and may cause severe threat to aquatic life when it mixes with water. 

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Bituminous paints also pose health hazards to humans such as dizziness, skin cracking, etc. The negative implications of bituminous paints on human health and the environment has led to a surge in the number of regulations for the controlled use of these paints. This has negatively impact the growth of the bituminous paints market. Nevertheless, increasing research and development initiatives for the introduction of bio-based and renewable source based bituminous paints will offer immense growth opportunities to the market in the future. 

Global Bituminous Paints Market: Regional Outlook 

The report divides the global bituminous paints market into the regional segments of North America, Europe, Asia Pacific, and Rest of the World. Amongst all, North America is the leading regional market for bituminous followed by Asia Pacific. Rapid industrialization in the emerging economies of China and India will lead to the growth of the bituminous paints market in Asia Pacific. 

Major Companies Mentioned in Report 

The report mentions and profiles leading companies operating in the global bituminous paints market, namely Juno Bitumix Pvt. Ltd., Hebei Tuohua Metal Products Co. Ltd., and Tianjin Haiyunda Metal Material Co. Ltd among others.