The size of the worldwide polymer modified bitumen market was notably large in 2020, and it is anticipated to post a consistent revenue CAGR during the forecast period. Ongoing building projects and the rising demand for environmentally friendly infrastructure and paved roads around the world are major drivers boosting market revenue growth.
Bitumen is a highly condensed polycyclic aromatic hydrocarbon that is soluble in carbon disulfide. It is a mixture of organic liquids that is thick, dark, and extremely sticky. Because it is so thick, dense, and heavy, natural bitumen, a petroleum product that resembles tar, needs to be heated or thinned out in order to move. Bitumen contains sulphur as well as hazardous substances like nickel, vanadium, lead, mercury, chromium, and other heavy metals. Road paving, waterproofing, insulating, and sealing are just a few uses for bitumen.
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Top Players in the Global Polymer Modified Bitumen Market:
- Total
- Shell
- SK
- Exxon Mobil
- TIPCO ASPHALT
- Colas
- Nynas
- Gazprom Neft PJSC
- Lagan Asphalt Grou
- Baolirus
- Guochuang Hi-tech
- Xi'an Guolin Industry
It is a chemical ingredient found in many different products, such as black paints and solvents. The effectiveness of paints and coatings as well as the viscosity of waterproofing agents are both enhanced by this chemical addition. A candy-coated chemical ingredient used in emulsions and the usage of chemically modified bitumen in waterproofing and road building are two more reasons influencing bitumen acceptance.
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Market segmentation based on Product Type Outlook:
- SBS Modified Bitumen,
- Plastomer
- Modified Bitumen,
- Crumb Rubber Modified Bitumen,
- Others
End-Use Outlook:
- Road Construction Paving
- Roofing,
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Frequently Asked Questions Answered in the Report:
- What is the estimated revenue growth rate of the global Polymer Modified Bitumen market over the forecast period?
- What are the major factors driving the global market revenue growth?
- Which are the leading manufacturers and suppliers in the global Polymer Modified Bitumen market?
- Which regional market is expected to lead in terms of revenue share in the global Polymer Modified Bitumen market over the forecast years?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?
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