Global Polymer Modified Bitumen Market to Display Revenue USD 15.7 BN By 2025
Posted On June 06, 2019
Value Market Research, in its latest publication, offer necessary information of the Global Polymer Modified Bitumen (PMB) Market like definition, market dynamic, followed by segmentation and competitive dashboard. As per the report the Global Polymer Modified Bitumen Market was valued at USD 9.2 BN (by revenue) in 2018 and is anticipated to reach USD 15.7 BN by 2025 with a CAGR of 8.5%. Polymer modified bitumen (PMB) is one of the most important engineered bitumen grades that have application in the creation of pavement, home roofing, and roads for heavy duty traffic to impart strength, high cohesiveness, and resistance to fatigue making it an ideal material for infrastructure. PMB is normal bitumen with the added polymer which makes it more elastomeric in nature with additional elasticity. Basically, styrene butadiene styrene (SBS) is added as a polymer to provide extra life to roads, pavement, and buildings. Some of the physical properties exhibited by PMB are higher rigidity, better resistance to rainwater, high resistance to deformation and stripping, and high durability.
The market of polymer modified bitumen is expected to gain substantial growth over the forecast period subjected to rising adoption of PMB materials for the development of infrastructure in order to enhance the performance properties of road and other construction project. Excellent binding capability and cohesive characteristics of the materials makes it an ideal material for residential and commercial infrastructure application which will definitely augment the industry size in the long run. Rising population base rate is also expected to increase the infrastructural development on large scale hence this is also certainly boosting the product demand over the forecast timeline.
The report "Global Polymer Modified Bitumen Market Report by Product (Thermoplastic Elastomer And Plastomers), Application (Road Construction, Roofing And Others) And By Regions - Industry Trends, Size, Share Growth, Estimation, And Forecast, 2018-2025” uncover major segments which include top products, application and regions. It also includes competitive landscape reporting along with the contribution to the overall market.
Market segmentation has been done on the basis of product, application, and region. By product, the market has been categorized into thermoplastic elastomer and plastomers. Out of which, a thermoplastic elastomer is gaining huge demand owing to its excellent heat and UV resistance with superior elasticity. Also, owing to its superior qualities and relatively less expensive this product is held almost one-fifth of the entire PMB. By application, the market has been classified into road construction, roofing and others. Among which, roofing has emerged as the largest application area owing to the rising demand for better housing infrastructure. Improving standard of living, increasing disposable income, and rising demand for new construction with superior property materials is fueling the demand for PMB since it has waterproofing and cohesive properties which enables their application in roofing and piping activities. Regional segmentation covers North America, Europe, Asia-pacific, Latin America, the Middle East, and Africa. Currently, North America is dominating the global PMB market owing to booming road construction industry. Also, rising investment on the refurbishment of existing roads and construction of new pavement is further fueling regional market growth.
The Report Segments Global Polymer Modified Bitumen Market -
- Thermoplastic Elastomer
- Road Construction
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Players Profiled In The Report:
Benzene International Pte Ltd, ExxonMobil, Gazprom NEFT, Lagan Asphalt Group, Nynas AB, Royal Dutch Shell PLC, Sika AG., and Total Oil India Pvt. Ltd.
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