Press release
Polymer Modified Bitumen (PMB) Market Size to Boost USD 18.94 Billion By 2032 | CAGR 4.6% - Published by Emergen Research
Polymer Modified Bitumen (PMB) Market
The Polymer Modified Bitumen (PMB) Market is witnessing a surge in demand owing to the increasing need for durable and high-performance road construction materials. PMB is a specialized form of bitumen infused with polymers to enhance its properties such as elasticity, strength, and resistance to deformation and cracking. Widely used in road paving, roofing, waterproofing, and industrial applications, PMB is gaining traction for its superior performance characteristics. The market's growth is further propelled by rising investments in infrastructure development, urbanization trends, and the growing focus on sustainable construction practices globally.
The latest research report serves as a perfect example of the precise analysis of the global Polymer Modified Bitumen (PMB) Market. It includes the ToC, list of tables and figures, research methodology, geographic segmentation, competitive landscape, future developments, and technological innovation. Moreover, the report offers the latest coverage of the massive impact of the COVID-19 pandemic on the worldwide Polymer Modified Bitumen (PMB) industry.
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Drivers of the Polymer Modified Bitumen (PMB) Market :
Several factors are driving the growth of the Polymer Modified Bitumen (PMB) Market. Notably, the escalating demand for road construction and maintenance activities, fueled by population growth, urbanization, and government initiatives to upgrade transportation infrastructure, is a significant driver. PMB offers improved durability and performance compared to conventional bitumen, making it an ideal choice for constructing roads subjected to heavy traffic loads and harsh environmental conditions. Additionally, heightened awareness of environmental concerns and the need for eco-friendly construction materials are driving the adoption of PMB, which boasts lower energy consumption and environmental impact compared to traditional alternatives.
Restraints and Challenges
Despite its promising growth trajectory, the Polymer Modified Bitumen (PMB) Market faces certain restraints. Chief among these is the volatility in raw material prices, particularly polymers and bitumen. Fluctuations in oil prices and the availability of high-quality polymers can significantly impact the production cost of PMB, posing challenges for manufacturers in maintaining competitive pricing. Moreover, navigating the complex regulatory landscape and compliance requirements across different regions and countries presents hurdles for market players. Overcoming these challenges while ensuring product quality and regulatory compliance remains crucial for sustained market growth.
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The report also discusses the key players involved in the market such as:
Benzene International Pte Ltd., Breedon Group Plc, RAHA Bitumen, Inc., Alma Petroli, Nynas AB, Royal Dutch Shell PLC, Exxon Mobil Corporation, Repsol, TotalEnergies, Colas Ltd., Gazprom Neft, Sika AG, and Phoenix Asphalt.
The report provides a thorough estimation of the overall impact of the pandemic on the Polymer Modified Bitumen (PMB) Market and its vital segments. The report also discusses the impact of the pandemic across different regions of the market. It also offers a current and future assessment of the impact of the pandemic on the Polymer Modified Bitumen (PMB) Market
Polymer Modified Bitumen (PMB) Latest Industry News
On 4 July 2023, Phoenix Asphalt Philippines, Inc., a subsidiary of the publicly traded company Phoenix Petroleum Philippines Inc., launched a new asphalt product, referred to as Polymer Modified Bitumen (PMB), which is a type of bitumen enhanced with the inclusion of polymers. This addition provides the PMB with increased durability, superior cohesion, and resistance to wear and tear, as well as protection against issues such as stripping and deformation. As a result, it is a highly desirable material for the construction of both highways and airport runways.
On 6 March 2023, Hanson UK is conducting a trial on England's strategic road network, in collaboration with England's road agency National Highways. In this trial, the companies are testing two different asphalt mixtures with sustainable binders. The first mix incorporates Nynas's biogenic binder Nypol RE, while the second mix includes Shell's innovative bio-component binder, Cariphalte CarbonSink. This marks the initial use of Hanson UK's low-carbon CarbonLock asphalt, which features Polymer Modified Bitumen (PMB) bio-binders. This trial is taking place during the resurfacing of A30 Cutteridge to Alphington eastbound project near Exeter in southwest England.
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Polymer Modified Bitumen (PMB) Market Segment Analysis :
Emergen Research has segmented the global polymer modified bitumen market on the basis of type, application, and region:
· Type Outlook (Revenue, USD Billion; 2019-2032)
Thermoplastic Elastomers
Styrene Butadiene Styrene
Styrene Butadiene Rubber
Isobutene Isoprene Copolymer
Styrene Isoprene Styrene
Styrene Ethylene Butadiene Styrene
Others
Thermoplastic Polymers
Ethylene Vinyl Acetate
Ethylene Methyl Acrylate
Ethylene Butyl Acrylate
Polyethylene
Polypropylene
Others
Thermosetting Polymers
Epoxy Resin
Polyurethane Resin
Acrylic Resin
Others
· Application Outlook (Revenue, USD Billion; 2019-2032)
Road Construction
Piping
Roofing
Transportation
Water Proofing
Others
· Regional Outlook (Revenue, USD Billion; 2019-2032)
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of Middle East & Africa
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