Eco-Friendly Bitumen Market Size, Share, and COVID Impact Analysis, By Source (Natural, Bio-Based, Recycled), By Grade (Hard Grade, Oxidized, Paving Grade, and Others), By Application (Construction, Paint & Coatings, Waterproofing, and Others) and Regional Forecast, 2024-2032

Region :Global | Report ID: FBI106870 | Status : Ongoing

KEY INDUSTRY INSIGHTS

The global bitumen market has been facing environmental issues and sustainability challenges. Hence, end-user companies are adopting eco-friendly and sustainable ways to expand their product line. This has created a favorable demand for eco-friendly bitumen globally. Additionally, desirable properties of bitumen, such as adhesion, waterproof, strength, durability, and versatility, make it most suitable for end-users. Product manufacturers and developers are now aiming to produce sustainable bitumen to efficiently serve the end-user demands.

The rapid growth in construction industry is one of the key driver for the eco-friendly bitumen market. In comparison to traditional bitumen, eco-friendly bitumen releases less carbon dioxide, hence, it is more environmental friendly. Additionally, the product is cost-effective and can be recycled. The product has nitrogen functional group, which increases the viscosity, enhances oxidation resistance, and improves resistance to water. This makes it a good fit for road, building, and waterfront construction. Moreover, the rising demand for paint, ink, construction, and foundry is anticipated to surge the consumption of eco-friendly bitumen.

There are a few essential functions of eco-friendly bitumen:

It offers very strong anti-microbial erosion on the surface.

It has more durable surface to improve the speed of slowing down the aging and prolong road service.

The product is wax-free; high wax can damage the quality of asphalt.

It’s manufacturing process is simple.

Impact of COVID-19 on the Eco-friendly Bitumen Market

As the covid-19 has spread around the globe, concerns have shifted from supply-side issues to decreased business in the service sector. Hence, companies of all sizes have already stopped operations. On account of discontinued operations, industries such as construction were moderately impacted. Road construction was impacted by the shortage of raw materials, labor, and limited transportation activities. Therefore, the demand for bitumen decreased during 2020. But in the current scenario, the market is in the recovery phase as transportation and production operations are active. Factories are expected to continue to operate and deliver raw materials.

Key Insights

The report will cover the following key insights:

Key trends in the eco-friendly bitumen market

Regulatory scenario of eco-friendly bitumen

Key developments of eco-friendly bitumen

Impact of COVID-19 on eco-friendly bitumen market

Analysis by Grade

On the basis of grade, the market is segmented into natural, bio-based, and recycled.

Bio-based bitumen is expected to moderately replace fossil-based bitumen, which may be expected to boost the market.

Natural bitumen or gilsonite has multiple applications such as road construction, oil and gas, waterproofing, and insulation.

Regional Analysis

To gain extensive insights into the market, Request for Customization

The global eco-friendly bitumen market has been categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America holds a large share of the global eco-friendly bitumen market as consumers from the U.S. and Canada prefer sustainable products. Therefore, the demand is increasing in the entire region. The market in Asia Pacific is expected to grow at higher CAGR due to the rising investment in the construction industry of countries such as China and India. Europe holds significant share in the market owing to the increasing product adoption in paints & coatings and waterproofing applications. Latin America and the Middle East & Africa are developing regions witnessing high product demand due to surging preference for sustainable construction materials.

Key Players Covered

The report will include the profiles of key players such as American Gilsonite Company, ATDM CO. LTD, Agarwal Industrial Corporation Limited, Bharat Petroleum Corporation Ltd., Jalnidhi Bitumen Specialties Pvt. Ltd., Mamz Asphalt Technologies (Pvt) Ltd, Nikan West Gilsonite, Nuroil Trading, Shell, Ventraco, and Others.

Segmentation

By Source	By Grade	By Application	By Geography
Natural Bio-Based Recycled	Hard Grade Oxidized Paving Grade Others	Construction Paint & Coatings Waterproofing Others	North America (U.S., and Canada) Europe (Germany, France, Italy, U.K., and Rest of Europe) Asia Pacific (China, India, Japan, ASEAN, and Rest of APAC) Latin America (Brazil, Mexico, and Rest of LATAM) Middle East & Africa (GCC, South Africa, and Rest of MEA)

Key Industry Developments

In January 2021, Ventraco innovated a new type of bitumen, RheoFalt, produced from natural hydrocarbon resin. The company addressed a novel recipe for bitumen that combines chemical extracts from naturally occurring asphalt with a product created from cashew nut shells.

In February 2022, English road authority National Highways set a trial on in-situ cold recycling of structural pavement layers with graphene to improve flexibility and longevity.

REQUEST SAMPLE

SPEAK TO ANALYST

PUBLISHING STATUS: Ongoing
BASE YEAR: 2023
HISTORICAL DATA: 2019-2022

Personalize this Research

Granular Research on Specified Regions or Segments
Companies Profiled based on User Requirement
Broader Insights Pertaining to a Specific Segment or Region
Breaking Down Competitive Landscape as per Your Requirement
Other Specific Requirement on Customization

Chemicals & Materials Clients

Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry

Get in Touch with Us

+1 424 253 0390 (US)
+44 2071 939123 (UK)
+91 744 740 1245 (APAC)
[email protected]