Eco Friendly Bitumen Market Size Worth USD 168.17 Thousand in 2030
According to the most recent analysis by Emergen Research, the size of the worldwide eco-friendly bitumen market is anticipated to reach USD 118.98 thousand in 2021 and register a revenue CAGR of 3.9% over the projected period. Growing worries about the sustainability of roads and the rapid expansion of international highway and roadway construction projects are some of the major factors influencing the revenue growth of the eco-friendly bitumen market. Compared to crude oil derivatives, eco-friendly bitumen has proven to be extremely eco-friendly. The material is both environmentally beneficial and economically advantageous because it is not burned, produces no carbon dioxide into the atmosphere, and can be recycled and used again.
As an expanding market, eco-friendly bitumen is anticipated to grow in value as a result of elements including the adoption of novel strategies, the use of substitute binders in asphalt for constructing roadways, and strict governmental guidelines to lessen carbon footprint.
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Some Key Highlights from the Report
- Due to high preference and excellent hydrophobic features, the waterproofing category is anticipated to have stable market revenue growth over the course of the projection period. Bitumen is a semi-solid type of petroleum that is water-repellent because it does not readily mix with water. As a result, the demand for waterproofing is rising quickly in the real estate industry, which has recently seen strong expansion in developing nations.
- Due to increased investments in infrastructure development in the region, the market in the Asia Pacific region will account for the greatest revenue share throughout the forecast period. Additionally, the existence of significant businesses like Bharat Petroleum Corporation Ltd. and Agarwal Industrial Corporation Limited is anticipated to boost the expansion of the environmentally friendly bitumen industry.
- 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.
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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
- Application Outlook (Revenue, USD Thousand, Volume, Kilotons, 2019–2030)
- Paints and Coatings
- Regional Outlook (Revenue, USD Thousand, Volume, Kilotons, 2019–2030)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest Of MEA
- North America
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