PUBLISHER: IMARC | PRODUCT CODE: 1451757
PUBLISHER: IMARC | PRODUCT CODE: 1451757
Eco-Friendly Bitumen Market Report by Source, Grade, Application, and Region 2024-2032
The global eco-friendly bitumen market size reached US$ 125.9 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 167.7 Million by 2032, exhibiting a growth rate (CAGR) of 3.14% during 2024-2032. The increasing environmental awareness regarding the usage of traditional petroleum-based products, an enhanced focus on sustainability and the rising prices of petroleum-based bitumen represent some of the key factors driving the market.
Bitumen is a highly viscous, sticky, and black material that is commonly used in asphalt and road construction as a binding agent. Eco-friendly bitumen is a type of bitumen that is manufactured using environmentally friendly processes and has a reduced impact on the environment compared to traditional bitumen. This type of bitumen is typically produced using recycled materials, such as waste plastics and used tires. When compared to conventional bitumen, eco-friendly bitumen has lower carbon emissions, and similar performance characteristics, making it an effective substitute to its traditional counterpart. The use of recycled materials in the production of eco-friendly bitumen reduces the amount of waste that is sent to landfills. Additionally, lower carbon emissions help reduce the carbon footprint of the construction industry. As a result, eco-friendly bitumen is extensively used as binder in asphalt, construction and roofing, and waterproofing applications across the construction industry.
Eco-Friendly Bitumen Market Trends:
The global market is primarily driven by the growing environmental concerns regarding the usage of traditional petroleum-based products. This can be attributed to the rapid depletion of fossil fuels, along with rising levels of pollution. Also, the rising stringency in government regulations and policies aimed at reducing carbon emissions and promoting sustainable development practices is providing an impetus to the market. In line with this, the rapid product utilization in numerous road construction projects, particularly in developed countries, with an enhanced focus on sustainability is creating lucrative growth opportunities in the market. Additionally, considerable rise in construction and infrastructure development activities, such as the expansion of green buildings and smart cities, is driving demand for eco-friendly bitumen. The market is further driven by the rising adoption of eco-friendly bitumen in the construction of energy storage systems, including batteries and supercapacitors. Moreover, the increasing demand for electric vehicles (EVs) is driving the need for eco-friendly materials in the construction of EV charging stations. Apart from this, augmenting investments by public and private agencies in research and development (R&D) activities focusing on the production of superior eco-friendly bitumen variants are propelling the market. In addition to this, the rising prices of petroleum-based bitumen is leading to a higher uptake of more affordable eco-friendly bitumen in numerous industrial applications. Some of the other factors contributing to the market include rapid urbanization and industrialization, inflating disposable income levels, and strategic collaborations and partnerships among key players.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global eco-friendly bitumen market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on source, grade, and application.
Source Insights:
Bio-Based Bitumen
Recycled Bitumen
Natural Bitumen
The report has provided a detailed breakup and analysis of the eco-friendly bitumen market based on the source. This includes bio-based bitumen, recycled bitumen, and natural bitumen. According to the report, recycled bitumen represented the largest segment.
Grade Insights:
Paving Grade Bitumen
Oxidized Bitumen
Hard Grade Bitumen
Others
The report has provided a detailed breakup and analysis of the eco-friendly bitumen market based on the grade. This includes paving grade bitumen, oxidized bitumen, hard grade bitumen, and others. According to the report, oxidized bitumen represented the largest segment.
Application Insights:
Construction
Waterproofing
Paints and Coatings
Others
A detailed breakup and analysis of the eco-friendly bitumen market based on the application has also been provided in the report. This includes construction, waterproofing, paints and coatings, and others. According to the report, construction accounted for the largest market share.
Regional Insights:
North America
United States
Canada
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for eco-friendly bitumen. Some of the factors driving the Asia Pacific eco-friendly bitumen market included rapid urbanization and industrialization, considerable growth in the construction industry, continual product innovations, etc.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global eco-friendly bitumen market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Agarwal Industrial Corporation Ltd., ATDM Co. Ltd., Bharat Petroleum Corporation Limited, Jalnidhi Bitumen Specialities Pvt. Ltd., MAMZ Asphalt Technologies (Pvt) Ltd., Nikan West Gilsonite Company, Nuroil Trading FZE, Shell plc, Zista Gilsonite, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report:
- How has the global eco-friendly bitumen market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global eco-friendly bitumen market?
- What is the impact of each driver, restraint, and opportunity on the global eco-friendly bitumen market?
- What are the key regional markets?
- Which countries represent the most attractive eco-friendly bitumen market?
- What is the breakup of the market based on the source?
- Which is the most attractive source in the eco-friendly bitumen market?
- What is the breakup of the market based on the grade?
- Which is the most attractive grade in the eco-friendly bitumen market?
- What is the breakup of the market based on the application?
- Which is the most attractive application in the eco-friendly bitumen market?
- What is the competitive structure of the global eco-friendly bitumen market?
- Who are the key players/companies in the global eco-friendly bitumen market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Eco-Friendly Bitumen Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Source
- 6.1 Bio-Based Bitumen
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Recycled Bitumen
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Natural Bitumen
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
7 Market Breakup by Grade
- 7.1 Paving Grade Bitumen
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Oxidized Bitumen
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Hard Grade Bitumen
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Others
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
8 Market Breakup by Application
- 8.1 Construction
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Waterproofing
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Paints and Coatings
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Others
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.1.1 United States
- 9.2 Asia-Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.2.1 China
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.3.1 Germany
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.4.1 Brazil
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 Drivers, Restraints, and Opportunities
- 10.1 Overview
- 10.2 Drivers
- 10.3 Restraints
- 10.4 Opportunities
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 Agarwal Industrial Corporation Ltd.
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.1.3 Financials
- 14.3.2 ATDM Co. Ltd.
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.3 Bharat Petroleum Corporation Limited
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.3.3 Financials
- 14.3.3.4 SWOT Analysis
- 14.3.4 Jalnidhi Bitumen Specialities Pvt. Ltd.
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.5 MAMZ Asphalt Technologies (Pvt) Ltd.
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.6 Nikan West Gilsonite Company
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.7 Nuroil Trading FZE
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.8 Shell plc
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.8.3 Financials
- 14.3.9 Zista Gilsonite
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.1 Agarwal Industrial Corporation Ltd.
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
List of Figures
- Figure 1: Global: Eco-Friendly Bitumen Market: Major Drivers and Challenges
- Figure 2: Global: Eco-Friendly Bitumen Market: Sales Value (in Million US$), 2018-2023
- Figure 3: Global: Eco-Friendly Bitumen Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 4: Global: Eco-Friendly Bitumen Market: Breakup by Source (in %), 2023
- Figure 5: Global: Eco-Friendly Bitumen Market: Breakup by Grade (in %), 2023
- Figure 6: Global: Eco-Friendly Bitumen Market: Breakup by Application (in %), 2023
- Figure 7: Global: Eco-Friendly Bitumen Market: Breakup by Region (in %), 2023
- Figure 8: Global: Eco-Friendly Bitumen (Bio-Based Bitumen) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 9: Global: Eco-Friendly Bitumen (Bio-Based Bitumen) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 10: Global: Eco-Friendly Bitumen (Recycled Bitumen) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 11: Global: Eco-Friendly Bitumen (Recycled Bitumen) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 12: Global: Eco-Friendly Bitumen (Natural Bitumen) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 13: Global: Eco-Friendly Bitumen (Natural Bitumen) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 14: Global: Eco-Friendly Bitumen (Paving Grade Bitumen) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 15: Global: Eco-Friendly Bitumen (Paving Grade Bitumen) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 16: Global: Eco-Friendly Bitumen (Oxidized Bitumen) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 17: Global: Eco-Friendly Bitumen (Oxidized Bitumen) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 18: Global: Eco-Friendly Bitumen (Hard Grade Bitumen) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 19: Global: Eco-Friendly Bitumen (Hard Grade Bitumen) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 20: Global: Eco-Friendly Bitumen (Other Grades) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 21: Global: Eco-Friendly Bitumen (Other Grades) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 22: Global: Eco-Friendly Bitumen (Construction) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 23: Global: Eco-Friendly Bitumen (Construction) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 24: Global: Eco-Friendly Bitumen (Waterproofing) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 25: Global: Eco-Friendly Bitumen (Waterproofing) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 26: Global: Eco-Friendly Bitumen (Paints and Coatings) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 27: Global: Eco-Friendly Bitumen (Paints and Coatings) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 28: Global: Eco-Friendly Bitumen (Other Applications) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 29: Global: Eco-Friendly Bitumen (Other Applications) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 30: North America: Eco-Friendly Bitumen Market: Sales Value (in Million US$), 2018 & 2023
- Figure 31: North America: Eco-Friendly Bitumen Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 32: United States: Eco-Friendly Bitumen Market: Sales Value (in Million US$), 2018 & 2023
- Figure 33: United States: Eco-Friendly Bitumen Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 34: Canada: Eco-Friendly Bitumen Market: Sales Value (in Million US$), 2018 & 2023
- Figure 35: Canada: Eco-Friendly Bitumen Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 36: Asia-Pacific: Eco-Friendly Bitumen Market: Sales Value (in Million US$), 2018 & 2023
- Figure 37: Asia-Pacific: Eco-Friendly Bitumen Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 38: China: Eco-Friendly Bitumen Market: Sales Value (in Million US$), 2018 & 2023
- Figure 39: China: Eco-Friendly Bitumen Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 40: Japan: Eco-Friendly Bitumen Market: Sales Value (in Million US$), 2018 & 2023
- Figure 41: Japan: Eco-Friendly Bitumen Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 42: India: Eco-Friendly Bitumen Market: Sales Value (in Million US$), 2018 & 2023
- Figure 43: India: Eco-Friendly Bitumen Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 44: South Korea: Eco-Friendly Bitumen Market: Sales Value (in Million US$), 2018 & 2023
- Figure 45: South Korea: Eco-Friendly Bitumen Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 46: Australia: Eco-Friendly Bitumen Market: Sales Value (in Million US$), 2018 & 2023
- Figure 47: Australia: Eco-Friendly Bitumen Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 48: Indonesia: Eco-Friendly Bitumen Market: Sales Value (in Million US$), 2018 & 2023
- Figure 49: Indonesia: Eco-Friendly Bitumen Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 50: Others: Eco-Friendly Bitumen Market: Sales Value (in Million US$), 2018 & 2023
- Figure 51: Others: Eco-Friendly Bitumen Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 52: Europe: Eco-Friendly Bitumen Market: Sales Value (in Million US$), 2018 & 2023
- Figure 53: Europe: Eco-Friendly Bitumen Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 54: Germany: Eco-Friendly Bitumen Market: Sales Value (in Million US$), 2018 & 2023
- Figure 55: Germany: Eco-Friendly Bitumen Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 56: France: Eco-Friendly Bitumen Market: Sales Value (in Million US$), 2018 & 2023
- Figure 57: France: Eco-Friendly Bitumen Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 58: United Kingdom: Eco-Friendly Bitumen Market: Sales Value (in Million US$), 2018 & 2023
- Figure 59: United Kingdom: Eco-Friendly Bitumen Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 60: Italy: Eco-Friendly Bitumen Market: Sales Value (in Million US$), 2018 & 2023
- Figure 61: Italy: Eco-Friendly Bitumen Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 62: Spain: Eco-Friendly Bitumen Market: Sales Value (in Million US$), 2018 & 2023
- Figure 63: Spain: Eco-Friendly Bitumen Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 64: Russia: Eco-Friendly Bitumen Market: Sales Value (in Million US$), 2018 & 2023
- Figure 65: Russia: Eco-Friendly Bitumen Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 66: Others: Eco-Friendly Bitumen Market: Sales Value (in Million US$), 2018 & 2023
- Figure 67: Others: Eco-Friendly Bitumen Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 68: Latin America: Eco-Friendly Bitumen Market: Sales Value (in Million US$), 2018 & 2023
- Figure 69: Latin America: Eco-Friendly Bitumen Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 70: Brazil: Eco-Friendly Bitumen Market: Sales Value (in Million US$), 2018 & 2023
- Figure 71: Brazil: Eco-Friendly Bitumen Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 72: Mexico: Eco-Friendly Bitumen Market: Sales Value (in Million US$), 2018 & 2023
- Figure 73: Mexico: Eco-Friendly Bitumen Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 74: Others: Eco-Friendly Bitumen Market: Sales Value (in Million US$), 2018 & 2023
- Figure 75: Others: Eco-Friendly Bitumen Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 76: Middle East and Africa: Eco-Friendly Bitumen Market: Sales Value (in Million US$), 2018 & 2023
- Figure 77: Middle East and Africa: Eco-Friendly Bitumen Market: Breakup by Country (in %), 2023
- Figure 78: Middle East and Africa: Eco-Friendly Bitumen Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 79: Global: Eco-Friendly Bitumen Industry: Drivers, Restraints, and Opportunities
- Figure 80: Global: Eco-Friendly Bitumen Industry: Value Chain Analysis
- Figure 81: Global: Eco-Friendly Bitumen Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Eco-Friendly Bitumen Market: Key Industry Highlights, 2023 & 2032
- Table 2: Global: Eco-Friendly Bitumen Market Forecast: Breakup by Source (in Million US$), 2024-2032
- Table 3: Global: Eco-Friendly Bitumen Market Forecast: Breakup by Grade (in Million US$), 2024-2032
- Table 4: Global: Eco-Friendly Bitumen Market Forecast: Breakup by Application (in Million US$), 2024-2032
- Table 5: Global: Eco-Friendly Bitumen Market Forecast: Breakup by Region (in Million US$), 2024-2032
- Table 6: Global: Eco-Friendly Bitumen Market: Competitive Structure
- Table 7: Global: Eco-Friendly Bitumen Market: Key Players
