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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

 
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The global market for eco-friendly bitumen generated $109,784.64 in 2019 and is projected to reach the market value of $126,743.58 by 2025, while growing at a CAGR of 4.21% during the period 2020-2025.

The growth drivers for eco-friendly bitumen market include increasing demand for sustainable roads, escalating global roadways and highways construction activities, stringent government regulations for reducing carbon footprints, and increasing demand for reducing emissions from building and construction sector.

Based on application, the construction industry holds the major market share in the global eco-friendly bitumen market as companies involved in the sector are moving towards sustainable construction materials and increasingly adopting strategies to strengthen their product portfolios in eco-friendly products.

Despite having a positive growth prospect, the global eco-friendly bitumen market demand faced a major setback in 2020 due to declining construction activities in most parts of the world. However, with the industry regaining its original pace, the eco-friendly bitumen demand is forecasted to follow a significant growth trend in the near future.

Some of the key players in the market include American Gilsonite Company, Agarwal Industrial Corporation Limited, Avello Bioenergy, Bharat Petroleum Corporation Ltd, Gilsonite CO., Jalnidhi Bitumen Specialties PVT. Ltd, and Royal Dutch Shell, among others.

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