The global eco-friendly bitumen market size is expected to reach USD 118.98 thousand in 2021 and register a revenue CAGR of 3.9% over the forecast period, according to latest analysis by Emergen Research. Rising concerns regarding the sustainability of roads and rapid development in global roadway and highway construction activities are some key factors driving eco-friendly bitumen market revenue growth. Eco-friendly bitumen has been proving to be very environment-friendly as opposed to crude oil derivatives. Since the substance is not burnt, it emits no carbon dioxide into the atmosphere and can be recycled and reused, which makes it eco-friendly as well as cost-effective.
Moreover, the Eco Friendly Bitumen Market report provides even handed, objective estimation and analysis of prospects in the Eco Friendly Bitumen Market with systematic market study report containing several other market vital factors. This qualified industry analyst evaluate the cost, market share, growth opportunities, technologies, market sizing, supply chains, applications, export & import, companies, and so on, with the sole effort of assisting our clients to make well-read business decisions.
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The report Eco Friendly Bitumen Market conveys a serious viewpoint covering worldwide market refreshes, future development, business possibilities, impending turns of events, and future ventures. Besides, the report perceives the top organizations alongside their advertising system, organization profile, most recent progressions, business strategies, item portfolios, market techniques, sales value, volume, limit, and cost structure. Global Eco Friendly Bitumen Market has increased with a healthy growth rate over the years and is expected to increase further during the forecasted period.
Key Players Profiled in the Report are:
American Gilsonite Company, Shell plc, Agarwal Industrial Corporation Limited, Bharat Petroleum Corporation Ltd., ATDM CO. LTD, Avello Bioenergy, Cosmique Pvt. Ltd., Jalnidhi Bitumen Specialities Pvt. Ltd., CEMEX S.A.B. de C.V., and Mamz Asphalt Technologies (Pvt) Ltd.
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Research Coverage:
The report covers all sectors of the Eco Friendly Bitumen Market. Its goal is to determine the market’s size and growth potential across several areas, such as application, vertical, and geography. It contains a detailed competition analysis of the market’s major competitors, as well as company profiles, significant insights about product and business offerings, recent developments, and key market strategies.
Some Key Highlights
- In June 2020, CEMEX S.A.B. de C.V., which is a Mexican multinational building materials company, launched VIAPATH asphalt. This product is an eco-friendly single asphalt solution, which can be used for cycle lanes and footpaths. VIAPATH asphalt eliminates mulita-layering surface requirements and hence improve overall durability of pavements.
- Recycled bitumen segment accounted for a significantly robust revenue share in 2021 owing to its environmental benefits and increasing initiatives to recycle road pavement materials in building and construction industry. During the process of recycling, the deteriorated material from pavements, known as Reclaimed Asphalt Pavement (RAP), is reused. Some advantages associated with recycling are minimized delay, energy conservation, preservation of environment, reduced construction costs, conservation of aggregate and binder, and preservation of existing pavement. Bituminous material is the most recycled material in the construction industry in many developed countries. For instance, in the U.S., 33 million tons of RAP is used per year for recycling purposes, which is around 80% of the total amount of RAP collected from old bituminous pavements.
- Paving grade bitumen segment registered a significantly large revenue share in 2021 as a result of high demand from the construction industry in the country. Paving grade bitumen is used to deploy helipads, highways, runways, and surroundings. In paving grade bitumen, penetration grade testing is performed to understand the hardness or stiffness. This helps in determining its utility in fluctuating temperature. It is also used to deploy asphalt pavements.
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Furthermore, the report provides a comprehensive overview of the Eco Friendly Bitumen market along with product portfolio and market performance. The report offers key insights into market share, supply chain analysis, demand and supply ratio, import/export details, and product and consumption patterns. To gain a better understanding, the report is further segmented into sections such as product types offered by the market, application spectrum, companies, and key geographical regions where the market has established its presence.
Emergen Research has segmented the global eco-friendly bitumen market on the basis of source, grade, application, and region:
- Source Outlook (Revenue, USD Thousand, Volume, Kilotons, 2019–2030)
- Bio-Based Bitumen
- Recycled Bitumen
- Natural Bitumen
- Grade Outlook (Revenue, USD Thousand, Volume, Kilotons, 2019–2030)
- Paving Grade Bitumen
- Oxidized Bitumen
- Hard Grade Bitumen
- Others
- Application Outlook (Revenue, USD Thousand, Volume, Kilotons, 2019–2030)
- Construction
- Waterproofing
- Paints and Coatings
- Others
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Analysis of the segments and their growth projection is carried out by extensive historical and current analysis of the market scenario. Further, the report offers details about the factors and features of the Eco Friendly Bitumen market expected to boost the growth of the industry in the coming years.
Key Questions Answered in the Report:
What is the growth rate of the Eco Friendly Bitumen market? What is the anticipated market valuation of Eco Friendly Bitumen industry by 2030?
What are the key growth driving and restraining factors of the Eco Friendly Bitumen market?
Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
What are the key opportunities and growth prospects of the Eco Friendly Bitumen industry over the forecast period?
Which region is expected to show significant growth in the coming years?
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