Eco Friendly Bitumen Market Size by Key Companies, Trend, Size, Forecasts and is Grow at a CAGR of 3.9% by 2030
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Increasing demand for sustainable roads and rapid development in roadway and highway construction activities are driving global eco-friendly bitumen market
VANCOUVER, BC, CANADA, June 7, 2022 /EINPresswire.com/ -- 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.
The new report on “Eco Friendly Bitumen Market Report 2022 by Key Players, Types, Applications, Countries, Market Size, forecast to 2030”. It includes a comprehensive analysis of the market size, geographical landscape along with the revenue estimation of the industry. In addition, the report also highlights the challenges impeding market growth and expansion strategies employed by leading companies in the “Eco Friendly Bitumen Market”.
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This market study covers and analyzes the potential of the global Eco Friendly Bitumen industry, providing geometric information about market dynamics, growth factors, major challenges, PEST analysis and market entry strategy analysis, opportunities and forecasts. One of the major highpoints of the report is to provide companies in the industry with a strategic analysis of the impact of COVID-19 on Eco Friendly Bitumen market.
Key Highlights of 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. 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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The report offers a comprehensive overview of the competitive landscape and covers company profiles, production and manufacturing capacity, product portfolio, expansion strategies, and business initiatives such as mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches and brand promotions among others.
Prominent Players Analyzed in the Report:
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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Furthermore, the report divides the Eco Friendly Bitumen market into key segments and sub-segments to offer an analysis of the product type and application spectrum of the industry. It also offers predictions about the segments expected to show significant growth during the projected timeline.
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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The report offers a comprehensive breakdown of the regional analysis of the market and subsequent country-wise analysis. The regional analysis of the market comprises of production volume information, consumption volume and patterns, revenue, and growth rate for the forecast period of 2022-2030. According to the regional analysis, the market is primarily spread over key geographical regions as follows:
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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Some of the important question for stakeholders and business professional for expanding their position in the Global Eco Friendly Bitumen Market :
Q 1. Which Region offers the most rewarding open doors for the market Ahead of 2021?
Q 2. What are the business threats and Impact of latest scenario Over the market Growth and Estimation?
Q 3. What are probably the most encouraging, high-development scenarios for Eco Friendly Bitumen movement showcase by applications, types and regions?
Q 4.What segments grab most noteworthy attention in Eco Friendly Bitumen Market in 2020 and beyond?
Q 5. Who are the significant players confronting and developing in Eco Friendly Bitumen Market?
Thank you for reading our report. Please connect with us to know more about the report or the customization of the report. Our team will ensure the report is best suited to meet your requirements.
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The global eco-friendly bitumen market size is expected to reach USD 118.98 thousand in 2021
