The report aims to offers a thorough outlook of the Eco Friendly Bitumen market based on various key elements, such as market drivers, limitations, threats, restraining factors, and growth prospects. The report aims to deliver a comprehensive understanding of the Eco Friendly Bitumen market growth and expansion in each key region of the world. It offers accurate estimations about the expected market size and growth over the projected timeline
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. Cost benefits associated with eco-friendly bitumen is expected to boost demand in the building and construction industry, which will further drive revenue growth of the market to a significant extent during the forecast period.
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As well as new entrants in the Eco Friendly Bitumen market. It focuses on the recent mergers acquisitions, joint ventures, collaborations, partnerships, licensing agreements, brand promotions, and product launches, among others.
Some major companies in the market report include 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.
Market Scope:
One of the report’s central components is the broad Eco Friendly Bitumen market segmentation that includes the product type gamut, application spectrum, end-user industry landscape, significant geographical regions, and the top market contenders. The report contains unbiased industry expert opinions on the current market scenario, past market performance, production consumption rates, demand supply ratio, and revenue generation forecasts over the estimated period. The key players’ financial positions, along with their gross profits, sales volumes, sales revenue, manufacturing costs, and other financial ratios, have been accurately gauged in the report.
Reports 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
- 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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The global Eco Friendly Bitumen market is broadly segmented on the basis of different product types, application range, end-use industries, key regions, and an intensely competitive landscape. This section of the report is solely targeted at readers looking to select the most appropriate and lucrative segments of the Eco Friendly Bitumen sector in a strategic manner. The segmental analysis also helps companies interested in this sector make optimal business decisions and achieve their desired goals.
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
Regional Bifurcation of the Eco Friendly Bitumen Market Includes:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key Points of Eco Friendly Bitumen Market:
- Extensive coverage of the analysis of the Eco Friendly Bitumen market
- Key insights into the regional spread of the industry in key geographies
- Radical insights into the vital market trends; both current and emerging trends, and factors influencing the growth of the market
- Comprehensive coverage of the impact of the COVID-19 pandemic on the overall growth of the Eco Friendly Bitumen market
- Complete data about the key manufacturers and vendors in the Eco Friendly Bitumen market
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