Global Modified Bitumen Market 2025 by Manufacturers, Regions, Type and Application, Forecast to 2031

According to our (Global Info Research) latest study, the global Modified Bitumen market size was valued at US$ 11100 million in 2024 and is forecast to a readjusted size of USD 13560 million by 2031 with a CAGR of 2.9% during review period.

Modified Bitumen (MB) refers to a type of asphalt where polymer additives, such as Styrene-Butadiene-Styrene (SBS), are incorporated into traditional bitumen to enhance its performance characteristics. This modification significantly improves the material's durability, flexibility, and resistance to deformation and fatigue. As a result, MB extends the lifespan of roadways and reduces maintenance costs, making it a preferred choice for infrastructure projects. Major global manufacturers of MB include Total, Shell, ExxonMobil, SK, and others, with the top ten companies commanding approximately 44.0% of the market share as of 2023. SBS-modified bitumen is the leading product in this category, holding around 60.4% of the market segment.

The demand for MB is primarily driven by its superior performance and the increasing investment in infrastructure from both government and private sectors. The trend towards sustainable and durable road construction further enhances MB's popularity. However, the higher production costs and the complexity of manufacturing MB compared to traditional asphalt pose significant barriers to its widespread adoption. Despite these challenges, the shift towards sustainable building practices presents a substantial opportunity for MB. Ongoing research and technological advancements in the field are expected to develop more cost-effective and efficient MB products, potentially broadening its market reach and increasing its appeal in environmentally-conscious projects.

The Modified Bitumen (MB) market is experiencing significant growth due to the increasing emphasis on sustainable infrastructure and high-performance materials. As governments and private sectors prioritize long-lasting and environmentally friendly construction solutions, MB is gaining traction due to its enhanced durability and recyclability. Additionally, advancements in polymer technology are driving innovations in MB formulations, leading to improved performance characteristics and cost-effectiveness. The trend towards urbanization and infrastructure development in emerging economies is also contributing to the expanding demand for MB. Consequently, the market is expected to continue growing, driven by both technological advancements and a heightened focus on sustainability.

Regulatory frameworks and technological advancements are also shaping the Modified Bitumen (MB) market. Stringent regulations related to road safety, environmental impact, and energy efficiency are promoting the adoption of MB, which offers superior performance in terms of road longevity and reduced maintenance needs. Governments worldwide are implementing standards that mandate the use of high-quality materials for infrastructure projects, further driving MB demand. Concurrently, technological innovations in polymer chemistry and manufacturing processes are enhancing MB properties, such as its resistance to extreme temperatures and heavy traffic loads. These advancements are making MB more accessible and cost-effective, contributing to its growing popularity in both developed and developing markets. As a result, the MB industry is poised for robust growth, with ongoing research and development playing a crucial role in meeting evolving market demands and regulatory requirements.

This report is a detailed and comprehensive analysis for global Modified Bitumen market. Both quantitative and qualitative analyses are presented by manufacturers, by region & country, by Type and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2025, are provided.

Key Features:

Global Modified Bitumen market size and forecasts, in consumption value ($ Million), sales quantity (K MT), and average selling prices (USD/MT), 2020-2031

Global Modified Bitumen market size and forecasts by region and country, in consumption value ($ Million), sales quantity (K MT), and average selling prices (USD/MT), 2020-2031

Global Modified Bitumen market size and forecasts, by Type and by Application, in consumption value ($ Million), sales quantity (K MT), and average selling prices (USD/MT), 2020-2031

Global Modified Bitumen market shares of main players, shipments in revenue ($ Million), sales quantity (K MT), and ASP (USD/MT), 2020-2025

The Primary Objectives in This Report Are:

To determine the size of the total market opportunity of global and key countries

To assess the growth potential for Modified Bitumen

To forecast future growth in each product and end-use market

To assess competitive factors affecting the marketplace

This report profiles key players in the global Modified Bitumen market based on the following parameters - company overview, sales quantity, revenue, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include Total Bitumen, Shell, SK energy, ExxonMobil, TIPCO ASPHALT, Colas, Nynas, Gazprom Neft PJSC, Breedon, Baolirus, etc.

This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.

Market Segmentation

Modified Bitumen market is split by Type and by Application. For the period 2020-2031, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.

Market segment by Type
SBS Modified Asphalt
Plastomer Modified Asphalt
Crumb Rubber Modified Asphalt
Others

Market segment by Application
Road Construction & Paving
Roofing
Others

Major players covered
Total Bitumen
Shell
SK energy
ExxonMobil
TIPCO ASPHALT
Colas
Nynas
Gazprom Neft PJSC
Breedon
Baolirus
Husky Energy
Associated Asphalt
Wright Asphalt Products
Guochuang Hi-tech
Nichireki

Market segment by region, regional analysis covers

North America (United States, Canada, and Mexico)

Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)

Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)

South America (Brazil, Argentina, Colombia, and Rest of South America)

Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

The content of the study subjects, includes a total of 15 chapters:

Chapter 1, to describe Modified Bitumen product scope, market overview, market estimation caveats and base year.

Chapter 2, to profile the top manufacturers of Modified Bitumen, with price, sales quantity, revenue, and global market share of Modified Bitumen from 2020 to 2025.

Chapter 3, the Modified Bitumen competitive situation, sales quantity, revenue, and global market share of top manufacturers are analyzed emphatically by landscape contrast.

Chapter 4, the Modified Bitumen breakdown data are shown at the regional level, to show the sales quantity, consumption value, and growth by regions, from 2020 to 2031.

Chapter 5 and 6, to segment the sales by Type and by Application, with sales market share and growth rate by Type, by Application, from 2020 to 2031.

Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value, and market share for key countries in the world, from 2020 to 2025.and Modified Bitumen market forecast, by regions, by Type, and by Application, with sales and revenue, from 2026 to 2031.

Chapter 12, market dynamics, drivers, restraints, trends, and Porters Five Forces analysis.

Chapter 13, the key raw materials and key suppliers, and industry chain of Modified Bitumen.

Chapter 14 and 15, to describe Modified Bitumen sales channel, distributors, customers, research findings and conclusion.