All updated as on -
In the year 2023, the worldwide market for polymer modified bitumen was valued at USD 11.38 billion. The market is anticipated to see a 6.7% compound annual growth rate (CAGR) from 2024 to 2031, rising from USD 11.79 billion in 2024 to USD 16.29 billion in 2031. The unprecedented and astounding global impact of COVID-19 has been felt by all regions, with products and services experiencing a negative demand shock. Our research shows that in 2020, the worldwide market shrank by 5.04%. After the pandemic ends, the demand and growth of this market will return to their pre-pandemic levels, which explains the abrupt drop in CAGR.
Because of its sensitivity to economic cycles, the construction industry felt the effects of COVID-19 to a greater extent than other industries. The drastic drop in economic activity caused by the pandemic poses a serious threat to manufacturers and laborers. Civil engineering projects including infrastructure like roads and utility systems are also part of the construction sector's purview, as are the rehabilitation, building, demolition, and maintenance of both residential and non-residential structures. The construction industry contributed 13.4% to worldwide GDP and 7.7% of all jobs before the pandemic, according to the International Labor Organization (ILO).
Nevertheless, the sector has been greatly affected by the public health crisis, confinement measures, movement restrictions, and lockdown. Public works projects, including the full and partial shutdown of construction sites and the suspension of national road maintenance, have been put on hold. Additionally, supply chain disruption occurred as a result of restrictions on non-essential production activity. But producers are plotting a number of moves to get around the obstacles in the way of operations while keeping safety and following regulations in mind. Reducing economic slump and unemployment is meant to be the construction sector's continuation.
Binders, sealants, adhesives, road pavements, etc. are just a few of the many uses for bitumen in the construction sector over the last five years. A new and improved type of bitumen, polymer modified bitumen, has been made possible by technological breakthroughs and increased R&D efforts. Bitumen that has had its mechanical characteristics altered or improved by the addition of one or more polymer components is known as polymer modified bitumen. Polymers improve bitumen's physical and mechanical qualities and make it more elastic by changing its molecular structure.
The use of polymer modified bitumen is on the rise in the road construction, roofing, and paving industries due to its many advantageous qualities, including increased strength, cohesiveness, resistance to fatigue and deformation, reduced temperature sensitivity, durability, and waterproofing. There will likely be a continuation of the trend of increasing demand for polymer modified bitumen in the construction and building industries, which is driving the market for this product.
A binding agent known as polymer modified bitumen (PMB) provides enhanced binder efficiency for a range of uses due to the polymeric material that is diffused in bitumen. Polymer modified bitumen (PMB) is another product that can be made by combining bitumen with crumb rubber. Binders on severely damaged or heavily used pavements that are subjected to severe weather conditions on a regular basis can benefit from the application of PMB. It is anticipated that the worldwide polymer modified bitumen market would experience sales growth between 2024 and 2031, driven by the construction sector's fast-paced demand. Regional, product, and application segments define the polymer modified bitumen market. Plastomers, elastomers, and thermoplastics are the three main product categories in the market. The roofing, road construction, and other segments of the industry are classified by their respective applications.
Due to the small number of participants, competition in this sector is concentrated. The most powerful companies in the polymer modified bitumen industry are banding together in mergers and joint ventures to better compete with one another. Some companies are putting their money into new product launches in the hopes of attracting more customers and increasing sales. The primary goal is to secure a prominent position in the competitive market and generate substantial revenues for the market as a whole.
One key factor expected to propel the polymer modified bitumen market is the rising demand for PMB, or polymer modified bitumen. In addition to this, the worldwide polymer modified bitumen market is expected to witness revenue creation possibilities during the forecast period due to the increasing rate of infrastructure development and building construction activities. In addition to this, this industry is anticipated to continue attracting significant revenues in the near future due to the increasing number of housing activities in emerging nations.
Report Coverage
Global Polymer Modified Bitumen research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Polymer Modified Bitumen report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Polymer Modified Bitumen competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Polymer Modified Bitumen market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Polymer Modified Bitumen market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Polymer Modified Bitumen market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Exxon Mobil, Lagan Asphalt Group, Benzene International Pte Ltd, Asphalt Group, Royal Dutch Shell PLC, Sika AG, Gazprom NEFT, Total Oil India Pvt. Ltd., Others
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Polymer Modified Bitumen market based on the below-mentioned segments:
Global Polymer Modified Bitumen Market, By Product
Thermoplastic Polymer
Thermoplastic Elastomer
Thermosetting Polymer
Global Polymer Modified Bitumen market, By Application
Roofing & Piping
Emulsions
Paving
Water Proofing
Road Construction
Global Polymer Modified Bitumen market, Regional Analysis
Because of its sensitivity to economic cycles, the construction industry felt the effects of COVID-19 to a greater extent than other industries. The drastic drop in economic activity caused by the pandemic poses a serious threat to manufacturers and laborers. Civil engineering projects including infrastructure like roads and utility systems are also part of the construction sector's purview, as are the rehabilitation, building, demolition, and maintenance of both residential and non-residential structures. The construction industry contributed 13.4% to worldwide GDP and 7.7% of all jobs before the pandemic, according to the International Labor Organization (ILO).
Nevertheless, the sector has been greatly affected by the public health crisis, confinement measures, movement restrictions, and lockdown. Public works projects, including the full and partial shutdown of construction sites and the suspension of national road maintenance, have been put on hold. Additionally, supply chain disruption occurred as a result of restrictions on non-essential production activity. But producers are plotting a number of moves to get around the obstacles in the way of operations while keeping safety and following regulations in mind. Reducing economic slump and unemployment is meant to be the construction sector's continuation.
Binders, sealants, adhesives, road pavements, etc. are just a few of the many uses for bitumen in the construction sector over the last five years. A new and improved type of bitumen, polymer modified bitumen, has been made possible by technological breakthroughs and increased R&D efforts. Bitumen that has had its mechanical characteristics altered or improved by the addition of one or more polymer components is known as polymer modified bitumen. Polymers improve bitumen's physical and mechanical qualities and make it more elastic by changing its molecular structure.
The use of polymer modified bitumen is on the rise in the road construction, roofing, and paving industries due to its many advantageous qualities, including increased strength, cohesiveness, resistance to fatigue and deformation, reduced temperature sensitivity, durability, and waterproofing. There will likely be a continuation of the trend of increasing demand for polymer modified bitumen in the construction and building industries, which is driving the market for this product.
A binding agent known as polymer modified bitumen (PMB) provides enhanced binder efficiency for a range of uses due to the polymeric material that is diffused in bitumen. Polymer modified bitumen (PMB) is another product that can be made by combining bitumen with crumb rubber. Binders on severely damaged or heavily used pavements that are subjected to severe weather conditions on a regular basis can benefit from the application of PMB. It is anticipated that the worldwide polymer modified bitumen market would experience sales growth between 2024 and 2031, driven by the construction sector's fast-paced demand. Regional, product, and application segments define the polymer modified bitumen market. Plastomers, elastomers, and thermoplastics are the three main product categories in the market. The roofing, road construction, and other segments of the industry are classified by their respective applications.
Due to the small number of participants, competition in this sector is concentrated. The most powerful companies in the polymer modified bitumen industry are banding together in mergers and joint ventures to better compete with one another. Some companies are putting their money into new product launches in the hopes of attracting more customers and increasing sales. The primary goal is to secure a prominent position in the competitive market and generate substantial revenues for the market as a whole.
One key factor expected to propel the polymer modified bitumen market is the rising demand for PMB, or polymer modified bitumen. In addition to this, the worldwide polymer modified bitumen market is expected to witness revenue creation possibilities during the forecast period due to the increasing rate of infrastructure development and building construction activities. In addition to this, this industry is anticipated to continue attracting significant revenues in the near future due to the increasing number of housing activities in emerging nations.
Report Coverage
Global Polymer Modified Bitumen research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Polymer Modified Bitumen report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Polymer Modified Bitumen competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Polymer Modified Bitumen market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2031 |
| Base Year | 2023 |
| Forecast Period | 2023-2031 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Exxon Mobil, Lagan Asphalt Group, Benzene International Pte Ltd, Asphalt Group, Royal Dutch Shell PLC, Sika AG, Gazprom NEFT, Total Oil India Pvt. Ltd., Others |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Polymer Modified Bitumen Market from 2021 to 2031.
- Market Forecast for Polymer Modified Bitumen Market from 2021 to 2031.
- Regional Market Share and Revenue from 2021 to 2031.
- Country Market share within region from 2021 to 2031.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Polymer Modified Bitumen competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Polymer Modified Bitumen
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Polymer Modified Bitumen market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Polymer Modified Bitumen market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Exxon Mobil, Lagan Asphalt Group, Benzene International Pte Ltd, Asphalt Group, Royal Dutch Shell PLC, Sika AG, Gazprom NEFT, Total Oil India Pvt. Ltd., Others
Primary Target Market
- Market Players of Polymer Modified Bitumen
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Polymer Modified Bitumen market based on the below-mentioned segments:
Global Polymer Modified Bitumen Market, By Product
Thermoplastic Polymer
Thermoplastic Elastomer
Thermosetting Polymer
Global Polymer Modified Bitumen market, By Application
Roofing & Piping
Emulsions
Paving
Water Proofing
Road Construction
Global Polymer Modified Bitumen market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
You will get in-depth and extensive polymer modified bitumen market market research and competitor analysis for your business to help you develop more profound insights into the polymer modified bitumen market Market.
Through INFINITIVE Data Expert is a professional Market Research services, I will identify the polymer modified bitumen market market size, demand & opportunities, growth rate, and target audience with a comprehensive analysis of your competitors.