Modified Bitumen Market Global Top Players Forecasts 2021 by Villas Austria GmbH, ChevronTexaco Corporation, British Petroleum, Marathon Oil Company, Nynas AB, Valero Energy Corporation, NuStar Energy, Petroleos Mexicanos, Indian Oil Corporation, and Shel

Global Modified Bitumen Market Overview:

Bitumen, one of the oldest engineering materials known to the mankind, has been used for over a thousand years in ways such as pavement binder sealant, adhesive, and waterproofing agent. Used in ancient times in its natural form, refined bitumen has more recently found a continuous rise in usage, especially in the construction of roads. Refined bitumen can be used in its unblended form when derived from a good crude oil sources and with the use of a proper refinery process. However, there are limited oil resources capable of producing such high-quality bitumen. Furthermore, there is immense need for enhanced properties such as higher resistance cracking at low temperatures, longer fatigue life, and better resistance to moisture for bitumen to be used across applications that are bound to undergo severe mechanical distresses. These conditions make bitumen modification more of an economic and qualitative necessity.

Global Modified Bitumen Market Size:

Global modified bitumen market is expected to reach USD 13.22 billion in 2015 and anticipated to grow at a CAGR of 6.5%, to attain USD 19.29 Billion by 2021 over the forecast period of 2015–2021.

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Drivers and Restraints:

Modified bitumen is widely used as the binding organic material, which is made from the by-products of refined crude oil. Modified bitumen is used in road construction, as it is reusable, and a strong binder. The Global Modified Bitumen Market is witnessing robust growth in the construction sector, especially in developing regions. The rising construction industry and the extensive infrastructure activities in the developing economies are expected to drive the demand for bitumen within the forecast period. Also, increased government spending on construction activities is expected to drive the demand for the bitumen market. Nevertheless, increased regulations on the manufacturing of bitumen and the long supply chain could prove a hindrance to the growth of the bitumen market within the forecast period.

Geographic Segmentation:

Based on Geography, Global Modified Bitumen Market has been segmented into areas like Europe, North America, Latin America, Asia pacific, and Middle East & Africa. The market has been primarily conquered by North America, followed by Europe. Some of the key players dominating the market are Bouygues S.A., China Petroleum and Chemical Corporation, Villas Austria GmbH, ChevronTexaco Corporation, JX Nippon Oil & Energy Corporation, ExxonMobil, British Petroleum, Marathon Oil Company, Nynas AB, Valero Energy Corporation, NuStar Energy, Bau Holding Vermögensverwaltung AG, Petroleos Mexicanos, Indian Oil Corporation, and Shell Bitumen.

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Scope of the report:

The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.

The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided.

The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.

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