Eco Friendly Bitumen Market Share, Growth, Trends and Forecast 2020-2025

The global eco-friendly bitumen market, based on grades, is segmented into oxidized bitumen, paving grade bitumen, and hard grade bitumen, and others. Polymer-modified emulsions are a growing trend in the market and are included in other segments of bitumen grades. Polymers are used to enhance the properties of available standard bitumen grades in the industry. Bitumen emulsions are also eco-friendly in nature as they do not require heating, and hence, help in reducing carbon emissions. However, paving grade or penetration grade bitumen is the most prevalent in the industry.

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Eco-friendly bitumen can be produced from multiple sources, including bio binders, reclaimed asphalt pavements or natural bitumen reserves. Bio-based bitumen is an emerging trend in the construction industry as it includes biomass instead of conventional bitumen. However, recycled bitumen holds the largest share in the demand for eco-friendly bitumen across the world due to increasing awareness regarding asphalt recycling and cost benefits associated with the same. Recycled bitumen is obtained by processing construction waste from old road pavements. As the practice is environment friendly, it requires less labor and cost, owing to which the technique is a growing trend across the road construction sector and is projected to grow in the future.

Asia-Pacific and Japan (AP&J) region dominated the global eco-friendly bitumen market in 2019 and is anticipated to hold its dominance throughout the forecast period. The region is a hub for various emerging economies, and hence, the constructional and infrastructural investments in the region are high compared to other regions. Growing urbanization and transportation construction is the primary driver for eco-friendly bitumen demand growth in the Asia-Pacific and Japan.

The competitive landscape of the eco-friendly bitumen market consists of different strategies undertaken by major players across the industry to gain market presence. Some of the strategies adopted by eco-friendly bitumen manufacturers are new product launches, business expansions, and partnerships and collaborations. Among all the strategies adopted, product launches have been the most prominent strategy adopted by the industry players. The industry competition is low as few players are present in the market, and the absence of any brand loyalty in the industry keeps the competition low. Innovation and development have been the key factors for the large-scale growth in this market as various research and development programs are currently ongoing on promoting sustainable alternatives over conventional bitumen. Eco-friendly bitumen companies are expanding their businesses and are also entering into strategic partnerships to increase their customer bases and, eventually, their global footprint.

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The eco-friendly bitumen market research study offers a broad perspective on the analysis of the industry. The research is based on an in-depth analysis of the global bitumen market as well as its application across other industries, with the use of analytical tools that have been used to build the forecast and the predictive models.

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