Polymer Modified Bitumen Market Growth Factors and Share by Manufacturer 2021-2022

Posted on 2021-12-29 by researchinsights in Chemicals // 0 Comments

San Jose, California , USA, Dec 29, 2021 — /EPR Network/ —

The Polymer Modified Bitumen Market report provides a detailed evaluation of the industry by highlighting information on different aspects which include drivers, restraints, growth opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing. It also provides a detailed analysis of global market size, regional and country-level market size, competitive landscape, impact of domestic market players and value chain optimization. Furthermore, it sheds light on the market contribution, recent developments and successful marketing strategies of leading companies.

Market Insights

The global Polymer Modified Bitumen Market size is expected to value at USD 13.34 billion by 2022. The market is subject to witness a substantial growth due to the growing demand from various end-user industries such as building & construction industry and roofing industry, and increasing use as adhesive and coatings. Massive increase in infrastructural spending, particularly in developing economies across the globe such as India, China and Brazil are anticipated to fuel expansion over the next seven years.

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Shifting trend towards polymer-modified bitumen over conventional form of bitumen for asphalt overlay due to its advanced set of properties and minimum maintenance cost are anticipated to foster the growth of polymer modified bitumen industry. Globally, the polymer modified bitumen market is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the market

In addition, variation in changing climatic conditions coupled with heavy traffic hampers bitumen roads adversely, thus leading to cracks and rutting. Thus, increasing demand for polymer modified bitumen to comprehend such as factors are propelling market growth over the next seven years. Use of polymer-modified bitumen reduces the investment required for road maintenance every year. However, higher initial investment is one of the key challenges for market growth, in the recent years. Yet, polymer modified bitumen is highly cost-efficient, thus positively affecting market growth over the next seven years

The polymer modified bitumen industry is broadly categorized into two major segments based on the product type such as thermoplastic elastomers and plastomers. The thermoplastic elastomers is considered as one of the fastest growing segment in the polymer modified bitumen market with substantial revenue generation in the last few years. Growing popularity of the thermoplastic elastomers segment is attributed to the increasing use as elastomeric materials and superior properties such as improved ageing resistance, low temperature flexibility and resistance to permanent deformation. The plastomers segment has also witnessed substantial growth.

The key players in the polymer modified bitumen industry are Total Oil India Pvt., Ltd., Benzene International Pte., Ltd., Lagan Asphalt Group, Nynas AB, Royal Dutch Shell plc, ExxonMobil Co., Gazprom NEFT Ltd., and Sika AG.

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Global Polymer Modified Bitumen Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2012 – 2022)

North America
U.S.
Europe
Germany
France
Asia Pacific
China
India
Latin America
Brazil
MEA

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