Press release
Polymer Modified Bitumen Market Business Growth Trends And Forecast 2024 | Top Key players : Ooms, Maruti Group, Shell, Bitumat Company Limited, Marini - Fayat Group, IKA – Laboratory, Analytical and Processing Technology
U.S. Polymer Modified Bitumen (PMB) Market size, by Application, 2013 ? 2024 (USD Million)
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Volatility in raw material prices due to changing crude oil prices may hinder the polymer modified bitumen market / PMB market growth in the coming years. Petroleum is the primary raw material used in the manufacture of polymers in polymer modified bitumen. Fluctuating crude oil resources around the world, large scale extraction and refining of oil and demand & supply ratio are some of the chief factors affecting the industry.
PMB Market by Product
PMB Market by Application
• Road construction
• Roofing & piping
• Emulsions
• Paving
• Waterproofing
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.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Tiki Tar Industries Ltd.
2. Ooms
3. AMT TECHNO
4. Offshore Petrochem Pvt Ltd.
5. MBD Industries
6. Maruti Group
7. VEEKAY INDUSTRIES
8. LN Petro Chem Pvt Ltd - India
9. Lagan Asphalt Group
10. IKA – Laboratory, Analytical and Processing Technology
11. GULF PETROCHEM LIMITED
12. Marini - Fayat Group
13. Shell
14. The Richmond Group
15. Bitumat Company Limited
16. North South Machinery
17. ALLIED BITUMEN COMPLEX INDIA PVT LTD
18. RATNAMANI INDUSTRIES PRIVATE LIMITED
19. RoadStar
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.
Browse key industry insights spread across 200 pages with 387 market data tables & 15 figures & charts from the report, Polymer Modified Bitumen (PMB) Market in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/polymer-modified-bitumen-PMB-market
Based on product, PMB market is classified into three broad categories which include- thermosetting polymers, thermoplastic polymers, and thermoplastic elastomers. Thermosetting polymers are further-divided into four segments namely, phenolic, epoxy, polyurethane, and acrylic resins. Thermosetting polymers have mineral particles with high adhesive strength and are comparatively high priced than thermoplastic elastomers and polymers. Thermoplastic elastomers have high temperature and storage stability with a comparatively lower cost and resistance to rutting. This segment finds extensive application in asphalt pavements due to its adhesion and cohesion properties.
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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