Eco-Friendly Bitumen Market Detailed Report | Bis Research
Eco-friendly bitumen is an emerging market that 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 the market such as bio-based bitumen, recycled bitumen, and natural bitumen. Recycled bitumen registered the highest demand in the global eco-friendly bitumen market owing to increasing awareness regarding road pavements recycling and environmental benefits associated with the same.
The global Size of the Eco-Friendly Bitumen Market in 2019 is $109,784.64 and is expected to grow to $126,743.58 by the end of 2025 with an expected CAGR During a Forecast Period of 4.21%
Several economies have witnessed high growth in transportation infrastructure due to increasing vehicle sales, population, and urbanization. In India, highway construction increased from the year 2016-19 (as per IBEF, November 2020 report). 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.