Ann: RRS Presentation- Paving the Way to a Greener Future, page-32

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Industry Overview

Bitumen Market size was valued at around USD 49.74 billion in 2020 and will exhibit a growth rate of over 4.4% CAGR from 2021 to 2027. Rapid industrialization in emerging countries is likely to escalate the demand for bitumen in various applications such as roadways, waterproofing, adhesives, and insulation.

Bitumen, also known as asphalt, is a black sticky blend of hydrocarbons residue from petroleum distillation or obtained naturally. It is used in various applications such as roadway construction where it is applied as a binder and mixed with aggregate particles to produce asphalt concrete. Other applications include waterproofing products in the production of roofing felt, adhesives, insulation, etc. In the construction and industrial sector, bitumen is an important raw material for manufacturing water tanks, dams, and bridges due to its high viscosity, stickiness, and water-resistance properties. Get more details on this report - Request Free Sample PDF Increasing government expenditure and policies toward roads & infrastructural development by using Public Private Partnership models across developed as well as emerging nations will drive the bitumen market share in the future. They help in increasing the utilization of bituminous products across the maintenance industry and road construction. Rising infrastructural developments and construction of new industrial plants in the emerging markets are in favor of the product demand. Due to bitumen properties, such as water resistance and viscosity, it is used in paints & coatings and inks & dyes applications, which is one of the factors propelling the bitumen market growth.

I haven't found any reference to "green bitumen". Someone may be able to point to others planning "green bitumen" projects around the world.