Polymer Modified Bitumen Market Key Players by 2024: Royal Dutch Shell, Maruti Group, IKA group, Lagan Asphalt Group Ltd., MBD Industries, Offshore Petrochem, AMT Techno, Ooms Avenhorn Holding, Tiki Tar Industries, Veekay Industries, RoadStar, Ratnamani I

Polymer modified bitumen market is majorly driven by the construction and infrastructural industry. The use of PMB in roofing and construction activities is increasing at a rapid pace due to its waterproofing and cohesive properties. Rise in the demand for housing and other infrastructural facilities due to increasing population in the developing countries, rising disposable income and purchasing power parity are the factors driving the PMB market as people are ready to spend more on new and developed housing and commercial spaces.

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Environmental awareness is pushing the use of green cement, eco-friendly construction materials and chemicals. Developing regions of the world have a great amount of construction activities and infrastructural development, which in turn, is propelling the regional polymer modified bitumen market. Developing economies such as China and India have huge construction activities owing to huge and rapidly increasing population which is demanding better and superior homes. These factors drive the PMB market on a large scale in the developing as well as the developed countries.

Fluctuation in the prices of raw materials owing to the continuous changes in crude oil and petroleum prices may hamper the polymer modified bitumen market demand in forecast timeframe. Bitumen is derived from crude oil and depleting oil resources across the globe due to excessive exploration activities is likely to be the key restraining factor for polymer modified bitumen market growth in future.

Polymer Modified Bitumen market has been bifurcated into product and application. The product segment is categorized into three types among which thermoplastic elastomers held the major share of the total polymer modified bitumen market for its superior features such as resistance from UV & heat and low cost as compared to other products. It has wide usage in pavements construction owing to its extreme cohesion and adhesion properties.

The polymer modified bitumen market is segmented into emulsions, road construction, and roofing & piping on the basis of application. The emulsions segment is further classified into waterproofing and paving. Use of superior quality material for construction of houses and other infrastructural facilities is on a rise. Use of waterproofing solutions to prevent wetness and leakages of walls and ceilings is rising as new and improved construction material is available. These factors are propelling the PMB market demand.

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PMB Market by Product
• Thermoplastic elastomers
o SBS
o SBR
o SIS
o SEBS
o EPDT
o IIR
o Natural rubber
o Others
• Thermoplastic polymers
o EVA
o EMA
o EBA
o APP
o PE
o PP
o Others
• Thermosetting polymers
o Epoxy resin
o Polyurethane resin
o Acrylic resin
o Phenolic resin

PMB Market by Application
• Road construction
• Roofing & piping
• Emulsions
o Paving
o Waterproofing

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On the regional basis, Asia Pacific held most of the share in polymer modified bitumen market due to increase in regional construction and infrastructure development activities. Emerging economies such as India and China have a huge population coupled with increasing purchasing power and GDP. Growing housing need in these areas since last decade has resulted in new construction projects, which are carried out by private players and respective local governments. This in turn, will enhance the polymer modified bitumen industry development in the forecast timeframe.

Key players operating in the global polymer modified bitumen market are Royal Dutch Shell, Maruti Group, IKA group, Lagan Asphalt Group Ltd., MBD Industries, Offshore Petrochem, AMT Techno, Ooms Avenhorn Holding, Tiki Tar Industries, The Richmond Group, Marini S.P.A., Gulf Petrochem, L N Petro Chem, Veekay Industries, RoadStar, Ratnamani Industries, Space Petro Energy, Allied Bitumen Complex, South Machinery, and Bitumat Company Limited.

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