The report talks about the shift in demands and emerging trends that are expected to drive the growth of the Eco Friendly Bitumen market. The rising demand for the Eco Friendly Bitumen market is expected to drive the demand for Eco Friendly Bitumen market, thereby bolstering the growth of the industry. Moreover, the report also studies the impact of the COVID-19 pandemic on the market.
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.
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.
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)
· Grade Outlook (Revenue, USD Thousand, Volume, Kilotons, 2019–2030)
Paving Grade Bitumen
Hard Grade Bitumen
· Application Outlook (Revenue, USD Thousand, Volume, Kilotons, 2019–2030)
Paints and Coatings
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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