Bitumen rose to 3,450 CNY/T on September 10, 2025, up 0.32% from the previous day. Over the past month, Bitumen's price has fallen 1.17%, but it is still 7.14% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Bitumen - values, historical data, forecasts and news - updated on September of 2025.

Graph and download economic data for Producer Price Index by Industry: Asphalt Paving Mixture and Block Manufacturing: Asphalt and Tar Paving Mixture (Excluding Liquid), Including Bitumen or Asphalt Concrete, Asphalt Paving Cement (PCU3241213241210131) from Dec 2004 to Aug 2025 about asphalt, cement, manufacturing, PPI, industry, inflation, price index, indexes, price, and USA.

In 2024, the EU natural bitumen and asphalt market increased by 7% to $4.6B for the first time since 2021, thus ending a two-year declining trend. The total consumption indicated measured growth from 2012 to 2024: its value increased at an average annual rate of +3.6% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -10.8% against 2021 indices.

In May 2025, the average petroleum bitumen import price amounted to $331 per ton, falling by -2.3% against the previous month.

China Settlement Price: Shanghai Future Exchange: Petroleum Bitumen: 6th Month data was reported at 3,377.000 RMB/Ton in 13 May 2025. This records an increase from the previous number of 3,348.000 RMB/Ton for 12 May 2025. China Settlement Price: Shanghai Future Exchange: Petroleum Bitumen: 6th Month data is updated daily, averaging 3,224.000 RMB/Ton from Oct 2013 (Median) to 13 May 2025, with 2820 observations. The data reached an all-time high of 4,777.000 RMB/Ton in 09 Jun 2022 and a record low of 1,670.000 RMB/Ton in 15 Feb 2016. China Settlement Price: Shanghai Future Exchange: Petroleum Bitumen: 6th Month data remains active status in CEIC and is reported by Shanghai Futures Exchange. The data is categorized under China Premium Database’s Financial Market – Table CN.ZB: Shanghai Futures Exchange: Commodity Futures: Settlement Price: Daily.

The global natural bitumen market is experiencing robust growth, driven by increasing demand across diverse sectors. While precise market size figures for 2019-2024 are not provided, we can extrapolate a reasonable estimation. Assuming a conservative market size of $1.5 billion in 2025, and a Compound Annual Growth Rate (CAGR) of, let's say, 5% (a figure reflective of steady growth in related construction and industrial materials markets), the market is poised for significant expansion. By 2033, this would project a market valuation exceeding $2.4 billion. This growth is primarily fueled by the expanding construction industry, particularly in developing economies, where natural bitumen finds extensive use in road construction, waterproofing, and other applications. The increasing adoption of natural bitumen in oil and gas operations for drilling fluids and pipeline coatings further contributes to market expansion. The use in specialized applications like inks and paints also presents a niche but growing segment. However, the market also faces certain constraints. Fluctuations in crude oil prices—a key factor influencing the pricing of alternative materials—can impact the competitiveness of natural bitumen. Furthermore, environmental regulations concerning bitumen extraction and its potential environmental impact necessitate sustainable and responsible sourcing practices. The market's segmentation reflects its diverse applications: lump and powder forms cater to varying industrial needs, and the application-based segments (foundry, construction, oil and gas, ink and paint, and others) highlight the versatility of natural bitumen. Companies such as American Gilsonite Company and Wasit Group are prominent players, strategically positioned to benefit from the ongoing market expansion and increasing demand for sustainable construction and industrial materials. Geographical distribution is likely to see a strong concentration in North America and Asia-Pacific regions, driven by robust infrastructure development and industrial activities in these regions. This report provides a detailed analysis of the global natural bitumen market, valued at approximately $2.5 billion in 2023, projected to reach $3.2 billion by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 4.5%. The report delves into market dynamics, including production, consumption, pricing trends, and competitive landscapes, providing valuable insights for stakeholders across the value chain. Key search terms addressed include: natural asphalt, gilsonite, bitumen mining, paving bitumen, natural bitumen applications, bitumen market analysis, natural bitumen price, natural bitumen suppliers.

According to Cognitive Market Research, the global Modified Bitumen Market size is USD 21.56 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 7.5% from 2024 to 2031. Market Dynamics of Modified Bitumen Market

Key Drivers for Modified Bitumen Market

Environmental Regulations and Sustainable Construction- Governments worldwide are enforcing stricter regulations on construction materials to reduce environmental impact. Modified bitumen, incorporating recycled materials like crumb rubber or natural rubber, aligns with these sustainability goals. This trend not only meets regulatory requirements but also appeals to environmentally conscious consumers and industries looking for eco-friendly building solutions. This factor significantly influences market dynamics, driving manufacturers to innovate and expand their offerings in sustainable modified bitumen products.
Rapid urban expansion and industrial development necessitate reliable infrastructure, boosting the demand for durable bituminous materials.

Key Restraints for Modified Bitumen Market

Volatile prices of raw materials like polymers and rubber affect profit margins and pricing stability in the modified bitumen market.
The market also faces significant difficulties related to data security and privacy.

Introduction of the Modified Bitumen Market

Modified bitumen refers to a type of asphalt product enhanced with additives or modifiers like styrene-butadiene-styrene (SBS), atactic polypropylene (APP), crumb rubber, or natural rubber. These modifications impart enhanced elasticity, durability, and resistance to temperature variations, making it suitable for various construction applications. The market for modified bitumen is driven by increasing infrastructure development activities globally, coupled with stringent regulations promoting sustainable building materials. Urbanization and industrialization trends further fuel demand, requiring robust and long-lasting road and building construction materials. As the construction industry continues to evolve, modified bitumen remains pivotal in addressing durability and performance requirements, contributing to its steady growth across diverse geographical markets.

United States - Producer Price Index by Industry: Asphalt Paving Mixture and Block Manufacturing: Asphalt and Tar Paving Mixture (Excluding Liquid), Including Bitumen or Asphalt Concrete, Asphalt Paving Cement was 258.00600 Index Dec 2004=100 in July of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Industry: Asphalt Paving Mixture and Block Manufacturing: Asphalt and Tar Paving Mixture (Excluding Liquid), Including Bitumen or Asphalt Concrete, Asphalt Paving Cement reached a record high of 326.12200 in February of 2025 and a record low of 100.00000 in December of 2004. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Industry: Asphalt Paving Mixture and Block Manufacturing: Asphalt and Tar Paving Mixture (Excluding Liquid), Including Bitumen or Asphalt Concrete, Asphalt Paving Cement - last updated from the United States Federal Reserve on September of 2025.

Fuel Price: Indian Oil Corporation Limited: Bitumen: Koyali: Packed: Grade VG30 data was reported at 38,250.000 INR/Metric Ton in 06 Dec 2018. This stayed constant from the previous number of 38,250.000 INR/Metric Ton for 05 Dec 2018. Fuel Price: Indian Oil Corporation Limited: Bitumen: Koyali: Packed: Grade VG30 data is updated daily, averaging 33,460.000 INR/Metric Ton from Nov 2009 (Median) to 06 Dec 2018, with 3323 observations. The data reached an all-time high of 45,750.000 INR/Metric Ton in 30 Sep 2013 and a record low of 25,473.000 INR/Metric Ton in 29 Feb 2016. Fuel Price: Indian Oil Corporation Limited: Bitumen: Koyali: Packed: Grade VG30 data remains active status in CEIC and is reported by Indian Oil Corporation Limited. The data is categorized under India Premium Database’s Energy Sector – Table IN.RBJ004: Fuel Price: Indian Oil Corporation Limited: Bitumen: Packed.

Hong Kong Wholesale Price: Bitumen data was reported at 7,600.000 HKD/Ton in Aug 2018. This stayed constant from the previous number of 7,600.000 HKD/Ton for Jul 2018. Hong Kong Wholesale Price: Bitumen data is updated monthly, averaging 6,750.000 HKD/Ton from May 2003 (Median) to Aug 2018, with 184 observations. The data reached an all-time high of 9,330.000 HKD/Ton in May 2012 and a record low of 3,650.000 HKD/Ton in Apr 2004. Hong Kong Wholesale Price: Bitumen data remains active status in CEIC and is reported by Census and Statistics Department. The data is categorized under Global Database’s Hong Kong SAR – Table HK.P004: Wholesale Price: Construction Materials.

Graph and download economic data for Producer Price Index by Commodity: Fuels and Related Products and Power: Asphalt (WPU05810212) from Jun 1985 to Jul 2025 about asphalt, fuels, commodities, PPI, inflation, price index, indexes, price, and USA.

The global bitumen market, valued at $56,500 million in 2025, is projected to experience steady growth with a compound annual growth rate (CAGR) of 2.0% from 2025 to 2033. This growth is driven by several factors. Increased infrastructure development, particularly road construction and expansion projects globally, fuels significant demand for bitumen as a primary binding agent in asphalt. Furthermore, the rising need for waterproofing solutions in buildings and infrastructure contributes to market expansion. The growing adoption of polymer-modified bitumen, offering enhanced durability and performance compared to traditional bitumen, also boosts market growth. However, fluctuations in crude oil prices, a key raw material for bitumen production, pose a significant challenge. Stringent environmental regulations regarding bitumen emissions and the exploration of sustainable alternatives might constrain market growth in the long term. The market is segmented by type (natural bitumen, petroleum bitumen, coal-tar pitch) and application (emulsion, polymer-modified, roadways, waterproofing, adhesives, others). Major players like BP, Shell, ExxonMobil, and Sinopec control a significant market share, leveraging their extensive production and distribution networks. Regional growth is expected to vary, with developing economies in Asia-Pacific experiencing faster growth compared to mature markets in North America and Europe, due to ongoing urbanization and infrastructural development. The market's steady CAGR reflects a balance between these positive and negative factors. The ongoing demand for road construction and infrastructure projects, coupled with the increasing use of advanced bitumen types, ensures a sustained, albeit moderate, expansion of the market. However, proactive strategies to address environmental concerns and mitigate the impact of crude oil price volatility will be crucial for long-term market stability and sustainable growth. Further market segmentation analysis based on specific regional projects and technological advancements will offer more precise future projections and investment opportunities.

United States - Producer Price Index by Industry: Asphalt Paving and Roofing Materials Manufacturing was 362.04200 Index Dec 1984=100 in June of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Industry: Asphalt Paving and Roofing Materials Manufacturing reached a record high of 385.43300 in January of 2025 and a record low of 91.00000 in February of 1987. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Industry: Asphalt Paving and Roofing Materials Manufacturing - last updated from the United States Federal Reserve on July of 2025.

Graph and download economic data for Producer Price Index by Industry: Asphalt Paving and Roofing Materials Manufacturing (PCU3241232412) from Dec 1984 to Aug 2025 about asphalt, materials, manufacturing, PPI, industry, inflation, price index, indexes, price, and USA.

The Malaysian natural bitumen and asphalt market declined to $584M in 2024, which is down by -13.5% against the previous year. Over the period under review, the total consumption indicated a buoyant expansion from 2012 to 2024: its value increased at an average annual rate of +5.0% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -5.6% against 2019 indices.

The average petroleum bitumen import price stood at $481 per ton in March 2025, waning by -4.3% against the previous month.

Global imports of bitumen and asphalt went down by -15% y-o-y to 2.1M tons in 2020. In value terms, imports dropped to $918M. America holds leadership in global imports of bitumen and asphalt. The U.S., Romania, China and France were among the few countries that managed to ramp up import supplies. The average bitumen and asphalt import price grew by +15% y-o-y to $427 per ton in 2020. Indonesia dominates the Chinese imports, while Greece, Canada and Spain provide the bulk of bitumen and asphalt imported to the U.S.

China Settlement Price: Shanghai Future Exchange: Petroleum Bitumen: 1st Month data was reported at 3,403.000 RMB/Ton in 13 May 2025. This records a decrease from the previous number of 3,454.000 RMB/Ton for 12 May 2025. China Settlement Price: Shanghai Future Exchange: Petroleum Bitumen: 1st Month data is updated daily, averaging 3,206.000 RMB/Ton from Oct 2013 (Median) to 13 May 2025, with 2820 observations. The data reached an all-time high of 4,792.000 RMB/Ton in 09 Jun 2022 and a record low of 1,428.000 RMB/Ton in 13 Oct 2016. China Settlement Price: Shanghai Future Exchange: Petroleum Bitumen: 1st Month data remains active status in CEIC and is reported by Shanghai Futures Exchange. The data is categorized under China Premium Database’s Financial Market – Table CN.ZB: Shanghai Futures Exchange: Commodity Futures: Settlement Price: Daily.

In 2024, the Indian petroleum bitumen market decreased by -4.5% to $4B, falling for the second consecutive year after three years of growth. Overall, the total consumption indicated notable growth from 2012 to 2024: its value increased at an average annual rate of +4.1% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -4.7% against 2022 indices.

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