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 Topics Covered:
1.1 Industry Outlook
1.1.1 Industry Dynamics Defining the Future
188.8.131.52 Increasing Use of Reclaimed Asphalt in Road Construction
184.108.40.206 Innovation in Technology and Research in Bitumen Industry
220.127.116.11 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
18.104.22.168 Patent Landscape: Bio-Based Bitumen
22.214.171.124 Patent Landscape: Recycled Bitumen
126.96.36.199 Patent Landscape: Natural Bitumen
1.2 Business Dynamics
1.2.1 Business Drivers
188.8.131.52 Increasing Demand for Sustainable Roads
184.108.40.206 Escalating Global Roadways and Highways Construction Activities
220.127.116.11 Stringent Government Regulations for Reducing Carbon Footprints.
18.104.22.168 Increasing Demand for Reducing Emissions from Building Sector
1.2.2 Business Challenges
22.214.171.124 Lack of Awareness among Consumers Coupled with High Cost
1.2.3 Business Opportunity
126.96.36.199 Rising Inclination toward Alternative Binders in Road Pavements
1.2.4 Business Strategies
188.8.131.52 Product Development and Innovation
184.108.40.206 Market Developments
1.2.5 Corporate Strategies
220.127.116.11 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
Bharat Petroleum Corporation Ltd
Cosmique Pvt. Ltd.
Jalnidhi Bitumen Specialties PVT. Ltd.
Mamz Asphalt Technologies (Pvt) Ltd.
Nikan West Gilsonite
Royal Dutch Shell
For more information about this report visit https://www.researchandmarkets.com/r/r59cvi
View source version on businesswire.com: https://www.businesswire.com/news/home/20210420005636/en/
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