DUBLIN, April 26, 2021 /PRNewswire/ — The «Eco-Friendly Bitumen Market – A Global Market and Regional Analysis: Focus on Applications, Products, Grades, Patent Analysis, and Country Analysis – Analysis and Forecast, 2020-2025» report has been added to ResearchAndMarkets.com’s offering.
Global Eco-Friendly Bitumen Market to Reach $126,743.58 by 2025
Eco-friendly bitumen is an emerging market which is projected to follow an upward growth trend primarily driven by growing consumers inclination towards sustainable construction. Eco-friendly bitumen is available in multiple forms in market such as bio-based bitumen, recycled bitumen, and natural bitumen. Recycled bitumen registered the highest demand in global eco-friendly bitumen market owing to increasing awareness regarding road pavements recycling and environmental benefits associate with the same.
Major growth driver for global eco-friendly bitumen market is escalating highways and roadways construction activities across the world. several economies have witnessed high growth in transportation infrastructure due to increasing vehicle sales, population, and urbanization. In India, highway construction increased by a CAGR of 21.4% from the year 2016-19 (as per IBEF, November 2020 report) with the construction of 10,855 km of highways. Construction being the major application of eco-friendly bitumen, growing highways contrition is projected to remain the primary factor for uplifting product demand till 2025.
Despite of having a positive growth prospect, global eco-friendly bitumen demand faced a major setback in 2020 due to declining construction activities in most parts of the world. due to COVID 19 outbreak, various countries have witnessed a fall in construction activities in 2020 which has negatively impacted the demand of eco-friendly bitumen in the same year.
For instance, Europe registered a decline of over 25% in construction activities in the April-May 2020 period. Such huge falls in construction industry has a severe impact on eco-friendly bitumen demand in 2020. however, with the industry regaining its original pace, the eco-friendly bitumen demand is also forecasted to follow a significant growth trend in the near future.
The competitive landscape of the eco-friendly bitumen market comprises of strategies adopted by key players to strengthen their market presence. The global eco-friendly bitumen market has witnessed partnerships, collaboration, joint ventures, new product launches, and some business expansion strategies by various industry players. The market is still in its emerging phase in the market, and the investment in the market is less.
However, the market has a high growth potential growth, and therefore, various construction companies are adopting measures to expand their product portfolios in green and sustainable bitumen alternatives. For instance, In July 2020, CEMEX launched an eco-friendly single asphalt solution for cycle lanes and footpaths, which eliminates the need for multi-layering surfaces.
The product has achieved a carbon footprint reduction. Such measures are expected to increase awareness regarding sustainable construction materials in the industry while also positively influencing global eco-friendly bitumen market growth.
As global construction industry is moving towards sustainable construction materials, companies are increasingly adopting strategies to strengthen their product portfolios in eco-friendly products by practicing mergers, acquisitions, joint ventures, and various such techniques.
Key players in the market are Royal Dutch Shell, American Gilsonite Company and Kraton Corporation, among others.
Key Questions Answered in this Report:
- What are the current trends in the global bitumen industry regarding sustainability?
- How has the global bitumen market been impacted by the introduction of eco-friendly bitumen?
- What is the growth prospect of bio-based bitumen in road construction?
- Can the future of the construction industry be bio-based?
- Which are the major patents filled in the market?
- What is the role of the government regarding environmental issues and safety that is changing the landscape of the eco-friendly bitumen industry?
- Which bitumen source is expected to lead the eco-friendly bitumen market by 2025?
- What was the market value of the leading segments and sub-segments of the market in 2019, and how is the market estimated to grow during the forecast period 2020-2025?
- How is the industry expected to evolve during the forecast period 2020-2025?
- What are the key developmental strategies that are implemented by the key players to sustain in the competitive market?
- What are the key growth regions in the eco-friendly bitumen market?
- What are the major challenges inhibiting the growth of the eco-friendly bitumen market?
Key Topics Covered:
1.1 Industry Outlook
1.1.1 Industry Dynamics Defining the Future
126.96.36.199 Increasing Use of Reclaimed Asphalt in Road Construction
188.8.131.52 Innovation in Technology and Research in Bitumen Industry
184.108.40.206 Escalating Bitumen Consumption in Cycling Paths
1.1.2 Supply Chain Analysis
1.1.3 Industry Attractiveness
1.1.4 Ecosystem/Ongoing Programs
1.1.5 Patent Analysis
220.127.116.11 Patent Landscape: Bio-Based Bitumen
18.104.22.168 Patent Landscape: Recycled Bitumen
22.214.171.124 Patent Landscape: Natural Bitumen
1.2 Business Dynamics
1.2.1 Business Drivers
126.96.36.199 Increasing Demand for Sustainable Roads
188.8.131.52 Escalating Global Roadways and Highways Construction Activities
184.108.40.206 Stringent Government Regulations for Reducing Carbon Footprints.
220.127.116.11 Increasing Demand for Reducing Emissions from Building Sector
1.2.2 Business Challenges
18.104.22.168 Lack of Awareness among Consumers Coupled with High Cost
1.2.3 Business Opportunity
22.214.171.124 Rising Inclination toward Alternative Binders in Road Pavements
1.2.4 Business Strategies
126.96.36.199 Product Development and Innovation
188.8.131.52 Market Developments
1.2.5 Corporate Strategies
184.108.40.206 Partnerships, Collaborations, Mergers and Acquisitions, and Joint Ventures
2.1 Application and Specification
2.1.3 Paints and Coatings
2.2 Demand Analysis of Eco-Friendly Bitumen (by Application)
2.2.3 Paints and Coatings
3.1 Global Eco-Friendly Bitumen Market (by Source)
3.1.1 Bio-Based Bitumen
3.1.2 Recycled Bitumen
3.1.3 Natural Bitumen
3.2 Demand Analysis of Eco-Friendly Bitumen (by Source)
3.2.2 Recycled Bitumen
3.2.3 Natural Bitumen
3.3 Global Eco-Friendly Bitumen Market (by Grade)
3.3.1 Paving Grade Bitumen
3.3.2 Oxidized Bitumen
3.3.3 Hard Grade Bitumen
3.4 Demand Analysis of Eco-Friendly Bitumen Market (by Grade)
3.4.1 Paving Grade Bitumen
3.4.2 Oxidized Bitumen
3.4.3 Hard Grade Bitumen
5 Competitive Benchmarking & Company Profiles
- American Gilsonite Company
- Agarwal Industrial Corporation Limited
- ATDM CO. LTD
- Avello Bioenergy
- Bharat Petroleum Corporation Ltd
- Cosmique Pvt. Ltd.
- Eagle Petrochem
- Gilsonite, Co
- Jalnidhi Bitumen Specialties PVT. Ltd.
- Mamz Asphalt Technologies (Pvt) Ltd.
- Nikan West Gilsonite
- Nuroil Trading
- Royal Dutch Shell
- Zista Gilsonite
For more information about this report visit https://www.researchandmarkets.com/r/sqlqrp
Research and Markets
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