Polymer Modified Bitumen Market
Growth Factors of Polymer Modified Bitumen Market
The Polymer Modified Bitumen market size was valued at USD 12.81 billion in 2023, and the market is now projected to grow from USD 13.45 billion in 2024 to USD 19.56 billion by 2032, exhibiting a CAGR of 4.7% during the forecast period of 2024-2032.
The advent of COVID-19 was an extreme disaster which havocked the market, disturbing supply chains and development operations. Lockdowns and confinements caused a drop in foundation ventures, bringing down demand for polymer bitumen utilized in road development. In any case, as economies recuperate, the advertise is likely to bounce back slowly as a result of the continuous increment in framework use.
The polymer modified bitumen market growth is gaining traction on pace, driven by worldwide foundation extension and street development ventures. The global operating government bodies too are contributing towards the transportation progressing systems, with polymer modified bitumen witnessing a major elective with its amazing properties. Its expanded toughness, adaptability, and flexibility to wear and tear make it fabulous for an assortment of applications, counting highways, airplane terminals, and city lanes.
Polymer Altered Bitumen have utmost unique properties like high quality, lower temperature affectability, improved waterproofing quality, unbending nature, cohesiveness, resistance to erosion, and mishaps. Variants of polymer types are being utilized in adjusting to the bitumen to progress within the particular properties. For case, Styrene Butadiene Styrene could be an altered cover that increments the life span of asphalts that are subjected to tall warm push and activity stack, whereas ethylene vinyl acetic acid derivation makes strides the firmness. These prevalent properties contribute towards the surge in request for polymer modified bitumen.
Comprehensive Analysis of Polymer Modified Bitumen Market
On the bifurcation of application, the market is categorized into road development, material, and others. The showcase is fragmented into road construction, roofing, and others in terms of application. The variant type road construction is governed to be the leading prime polymer modified bitumen showcase share. The rising appropriation of polymer modified bitumen in the developmental phase is projected to make stride the segment domination. Other than expanding government activities to move forward the open framework by utilizing actually improved building materials might essentially help the fragment development.
The dominant region North America is slaying with a valuation of USD 4.77 billion with a major polymer modified bitumen market share globally. North America held the biggest share within the showcase and is anticipated to preserve its position by the conclusion of figure period. Expanding appropriation of green material advances owing to the expanding mindfulness in buyers with respect to green buildings is likely to cultivate territorial development.
The market arena globally is reasonably concentrated in nature. Total Oil India Pvt. Ltd. (India), Gazprom NEFT (Russia), Sika AG (Switzerland), Royal Dutch Shell PLC (The Netherlands), Benzene International Pte Ltd (Singapore), Lagan Asphalt Group (Ireland), Exxon Mobil (U.S.), are a few of the market's key players working universally. Different key unions are being arranged and actualized to move forward deals, worldwide reach, and upgrade the item portfolio.
In July 2020 the company Total, a wide energy company and Indian Oil Enterprise, India's biggest refiner and advertiser of petroleum item reported arrangement of 50:50 joint wander to make and supply tall quality bitumen subordinates.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 4.7% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Application
- Road Construction
- Roofing
- Others
- North America (By Application, By Country)
- U.S. (By Application)
- Canada (By Application)
- Europe (By Application, By Country)
- Germany (By Application)
- U.K. (By Application)
- France (By Application)
- Italy (By Application)
- Rest of Europe (By Application)
- Asia Pacific (By Application, By Country)
- China (By Application)
- Japan (By Application)
- India (By Application)
- ASEAN (By Application)
- Rest of Asia Pacific (By Application)
- Latin America (By Application, By Country)
- Brazil (By Application)
- Mexico (By Application)
- Rest of Latin America (By Application)
- Middle East & Africa (By Application, By Country)
- GCC (By Application)
- South Africa (By Application)
- Rest of Middle East & Africa (By Application)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Emerging Trends – For Major Regions
- 4.2. Industry SWOT Analysis
- 4.3. Insights on Sustainability
- 4.4. Recent Industry Developments - Policies, Partnerships, New Type Launches, and Mergers & Acquisitions
- 4.5. Porter’s Five Forces Analysis
- 4.6. Qualitative Insights on COVID-19 Impact
- 5. Global Polymer Modified Bitumen Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Key Findings / Summary
- 5.2. By Application (Value)
- 5.2.1. Road Construction
- 5.2.2. Roofing
- 5.2.3. Others
- 5.3. By Region (Value)
- 5.3.1. North America
- 5.3.2. Europe
- 5.3.3. Asia Pacific
- 5.3.4. Latin America
- 5.3.5. Middle East & Africa
- 6. North America Polymer Modified Bitumen Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Key Findings / Summary
- 6.2. By Application (Value)
- 6.2.1. Road Construction
- 6.2.2. Roofing
- 6.2.3. Others
- 6.3. By Country (Value)
- 6.3.1. U.S.
- 6.3.1.1. By Application (Value)
- 6.3.1.1.1. Road Construction
- 6.3.1.1.2. Roofing
- 6.3.1.1.3. Others
- 6.3.2. Canada
- 6.3.2.1. By Application (Value)
- 6.3.2.1.1. Road Construction
- 6.3.2.1.2. Roofing
- 6.3.2.1.3. Others
- 7. Europe Polymer Modified Bitumen Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Key Findings / Summary
- 7.2. By Application (Value)
- 7.2.1. Road Construction
- 7.2.2. Roofing
- 7.2.3. Others
- 7.3. By Country (Value)
- 7.3.1. Germany
- 7.3.1.1. By Application (Value)
- 7.3.1.1.1. Road Construction
- 7.3.1.1.2. Roofing
- 7.3.1.1.3. Others
- 7.3.2. U.K.
- 7.3.2.1. By Application (Value)
- 7.3.2.1.1. Road Construction
- 7.3.2.1.2. Roofing
- 7.3.2.1.3. Others
- 7.3.3. France
- 7.3.3.1. By Application (Value)
- 7.3.3.1.1. Road Construction
- 7.3.3.1.2. Roofing
- 7.3.3.1.3. Others
- 7.3.4. Italy
- 7.3.4.1. By Application (Value)
- 7.3.4.1.1. Road Construction
- 7.3.4.1.2. Roofing
- 7.3.4.1.3. Others
- 7.3.5. Rest of Europe
- 7.3.5.1. By Application (Value)
- 7.3.5.1.1. Road Construction
- 7.3.5.1.2. Roofing
- 7.3.5.1.3. Others
- 8. Asia-Pacific Polymer Modified Bitumen Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Key Findings / Summary
- 8.2. By Application (Value)
- 8.2.1. Road Construction
- 8.2.2. Roofing
- 8.2.3. Others
- 8.3. By Country (Value)
- 8.3.1. China
- 8.3.1.1. By Application (Value)
- 8.3.1.1.1. Road Construction
- 8.3.1.1.2. Roofing
- 8.3.1.1.3. Others
- 8.3.2. Japan
- 8.3.2.1. By Application (Value)
- 8.3.2.1.1. Road Construction
- 8.3.2.1.2. Roofing
- 8.3.2.1.3. Others
- 8.3.3. India
- 8.3.3.1. By Application (Value)
- 8.3.3.1.1. Road Construction
- 8.3.3.1.2. Roofing
- 8.3.3.1.3. Others
- 8.3.4. ASEAN
- 8.3.4.1. By Application (Value)
- 8.3.4.1.1. Road Construction
- 8.3.4.1.2. Roofing
- 8.3.4.1.3. Others
- 8.3.5. Rest of Asia Pacific
- 8.3.5.1. By Application (Value)
- 8.3.5.1.1. Road Construction
- 8.3.5.1.2. Roofing
- 8.3.5.1.3. Others
- 9. Latin America Polymer Modified Bitumen Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Key Findings / Summary
- 9.2. By Application (Value)
- 9.2.1. Road Construction
- 9.2.2. Roofing
- 9.2.3. Others
- 9.3. By Country (Value)
- 9.3.1. Brazil
- 9.3.1.1. By Application (Value)
- 9.3.1.1.1. Road Construction
- 9.3.1.1.2. Roofing
- 9.3.1.1.3. Others
- 9.3.2. Mexico
- 9.3.2.1. By Application (Value)
- 9.3.2.1.1. Road Construction
- 9.3.2.1.2. Roofing
- 9.3.2.1.3. Others
- 9.3.3. Rest of Latin America
- 9.3.3.1. By Application (Value)
- 9.3.3.1.1. Road Construction
- 9.3.3.1.2. Roofing
- 9.3.3.1.3. Others
- 10. Middle East & Africa Polymer Modified Bitumen Market Analysis, Insights and Forecast, 2019-2032
- 10.1. Key Findings / Summary
- 10.2. By Application (Value)
- 10.2.1. Road Construction
- 10.2.2. Roofing
- 10.2.3. Others
- 10.3. By Country (Value)
- 10.3.1. GCC
- 10.3.1.1. By Application (Value)
- 10.3.1.1.1. Road Construction
- 10.3.1.1.2. Roofing
- 10.3.1.1.3. Others
- 10.3.2. South Africa
- 10.3.2.1. By Application (Value)
- 10.3.2.1.1. Road Construction
- 10.3.2.1.2. Roofing
- 10.3.2.1.3. Others
- 10.3.3. Rest of Middle East & Africa
- 10.3.3.1. By Application (Value)
- 10.3.3.1.1. Road Construction
- 10.3.3.1.2. Roofing
- 10.3.3.1.3. Others
- 11. Competitive Analysis
- 11.1. Global Market Share/Ranking Analysis, By Key Manufacturer
- 11.2. Company Profiles
- 11.2.1. Total Oil India Pvt Ltd.
- 11.2.1.1. Overview
- 11.2.1.2. Description
- 11.2.1.3. Type Portfolio
- 11.2.1.4. Financials (As per Availaibity)
- 11.2.1.5. Recent Developments
- 11.2.2. Gazprom NEFT
- 11.2.2.1. Overview
- 11.2.2.2. Description
- 11.2.2.3. Type Portfolio
- 11.2.2.4. Financials (As per Availaibity)
- 11.2.2.5. Recent Developments
- 11.2.3. Sika AG
- 11.2.3.1. Overview
- 11.2.3.2. Description
- 11.2.3.3. Type Portfolio
- 11.2.3.4. Financials (As per Availaibity)
- 11.2.3.5. Recent Developments
- 11.2.4. Royal Dutch Shell PLC
- 11.2.4.1. Overview
- 11.2.4.2. Description
- 11.2.4.3. Type Portfolio
- 11.2.4.4. Financials (As per Availaibity)
- 11.2.4.5. Recent Developments
- 11.2.5. Benzene International Pte Ltd
- 11.2.5.1. Overview
- 11.2.5.2. Description
- 11.2.5.3. Type Portfolio
- 11.2.5.4. Financials (As per Availaibity)
- 11.2.5.5. Recent Developments
- 11.2.6. Lagan Asphalt Group
- 11.2.6.1. Overview
- 11.2.6.2. Description
- 11.2.6.3. Type Portfolio
- 11.2.6.4. Financials (As per Availaibity)
- 11.2.6.5. Recent Developments
- 11.2.7. Exxon Mobil
- 11.2.7.1. Overview
- 11.2.7.2. Description
- 11.2.7.3. Type Portfolio
- 11.2.7.4. Financials (As per Availaibity)
- 11.2.7.5. Recent Developments
- 12. Strategic Recommendation
- 13.
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