Polymer Modified Bitumen Market Will Grow at a CAGR of 6.10%, Industry Experts

Bitumen has been used in a variety of applications in the building and construction industry over the last half-decade, including binders, sealants, adhesives, road pavements, and so on. However, technological advancements and increased research and development activities have paved the way for developing a better type of bitumen known as polymer modified bitumen.

Data Bridge Market Research analyses that the Polymer Modified Bitumen market which was growing at a value of 11.17 billion in 2021 and is expected to reach the value of USD 17.94 billion by 2029, at a CAGR of 6.10% during the forecast period.  In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

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Market Definition

Polymer modified bitumen (PMB) is a binder made up of polymeric material dispersed in bitumen that has improved binder performance for a variety of applications. Bitumen and crumb rubber can also be combined to create polymer modified bitumen (PMB). Polymer modified bitumen (PMB) is used to improve the performance of binders on heavily distressed or heavily trafficked pavements, which are frequently exposed to harsh weather conditions. When polymer modified bitumen (PMB) is used in construction, it provides a number of benefits. These include increased elasticity or resilience, cohesion, low temperature susceptibility, and improved tenacity once a bond is formed.

Global Polymer Modified Bitumen Market Scope

The polymer modified bitumen market is segmented on the basis of type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

·         Thermoplastic Elastomers

·         Plastomers

·         SBS Modified Bitumen

·         Crumb Rubber Modified Bitumen

·         Others

Application

·         Road Construction

·         Roofing

·         Others

Polymer Modified Bitumen Market Regional Analysis/Insights

The polymer modified bitumen market is analyzed and market size insights and trends are provided by country, type and application as referenced above.

The countries covered in the polymer modified bitumen market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the polymer modified bitumen market due to the region's growing roofing industry and rising preferences for low-smoke bitumen with improved resistance.

Asia-Pacific polymer modified bitumen market is expected to grow at the fastest rate in China and India due to rising disposable income levels and increased usage of the product in highway construction.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

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Competitive Landscape and Polymer Modified Bitumen Market Share Analysis

The polymer modified bitumen market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to polymer modified bitumen market.

Some of the major players operating in the polymer modified bitumen market are:

·         Valero (U.S.)

·         NuStar Energy L.P (U.S.)

·         Suncor Energy Inc, (Canada)

·         Athabasca Oil Corporation (Canada)

·         Imperial Oil Limited (Canada)

·         Syncrude Canada Ltd. (Canada)

·         Indian Oil Corporation Ltd (India)

·         ENEOS Corporation (Japan)

·         ExxonMobil Coroporation (U.S.)

·         Shell Bitumen (U.K.)

·         Petróleos Mexicanos (Mexico)

·         Nynas AB (Sweden)

·         Marathon Oil Company (U.S.)

·         Bp p.l.c (U.K.)

·         Royal Dutch Shell plc (U.K.)

·         Total Energy (France)

·         Sinopec Corporation (China)

·         Chevron Corporation (U.S.)

·         Bouygues Groups (France)

·         Villas Austria GmbH (Austria)

·         Gazprom- Neft (Russia)

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