Press release
Polymer Modified Bitumen (PMB) Market 2018 by Global Trends and Key Companies 2025 - Total S.A., Nynas AB, Royal Dutch Shell, ExxonMobil, Indian Oil Corporation, Lagan Asphalt Group, GULF PETROCHEM, BITUMINA GROUP, Hindustan Colas Private, Benzene Interna
Polymer Modified Bitumen (PMB)
This report studies the global Polymer Modified Bitumen (PMB) Speaker market, analyzes and researches the Polymer Modified Bitumen (PMB) Speaker development status and forecast in North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. This report focuses on the top players in global market, like Total S.A., Nynas AB, Royal Dutch Shell, ExxonMobil, Indian Oil Corporation, Lagan Asphalt Group, GULF PETROCHEM, BITUMINA GROUP, Hindustan Colas Private, Benzene International Pte
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The global polymer modified bitumen (PMB) market size was valued at USD 8.88 billion in 2017. Increasing traffic and the resultant pressure created by the axle load on roads have necessitated the use of polymer modified bitumen. Furthermore, factors such as low maintenance cost and widening applications are contributing towards the growth of the global polymer modified bitumen industry.
Polymer modified bitumen (PMB) is a mixture of bitumen and polymers in which the polymer helps in changing the viscoelastic behavior of the bitumen making it more suitable for a range of stresses. Polymer modified binders (PMB) are a major advancement in bituminous binder technology as these materials better satisfy the demands of increasing traffic volumes and loads on road networks. The addition of polymer to regular bitumen makes it more elastomeric with additional elasticity. However, low aging resistance and poor storage stability are some of the factors that can hamper the global polymer modified bitumen (PMB) market growth.
One of the recent trends in the global polymer modified bitumen (PMB) market is the emergence of bio-based bitumen. In June 2018, Aston University scientists developed a new way of converting organic waste, such as paper, decomposed food, and plastic, into a material suitable for road and pavement laying. The usage of this material is expected to reduce the 7.7 million tons of biodegradable municipal waste that is sent to landfills every year. This material could pave a way for a greener and a cheaper alternative as compared to extracting bitumen from oil sands and crude oil, thereby, impacting the overall polymer modified bitumen market size during the forecast period.
Plastomers had a valuation of USD 3.13 billion in 2017 in the global polymer modified bitumen industry. The growth in the applicability and consumption of plastomers is majorly attributed to the enhanced stiffness and viscosity provided by bitumen. Plastomers give bitumen a high initial strength to withstand heavy loads. They have a lower tolerance of strain and can crack at high stresses. EVA (Ethene-Vinyl-Acetate) and PE (Polyethylene) are the commonly used plastomers in PMB.
Road construction application emerged as the fastest growing application in the polymer modified bitumen industry holding more than 70% of volume and revenue share in 2017 and is projected to witness rapid growth in the future. Expansion of road networks globally is the key driving factor behind the growth of the segment. Bitumen possesses adhesive properties that make it favorable for road construction. The primary objective of the polymer modified bitumen is to increase the shelf-life of pavements and roads. The roads and pavements that are constructed for extreme weather conditions and heavy-duty traffic need specially prepared bitumen grades for enhanced performance, resulting in the widespread use of PMB. The advantages of PMB include greater resistance to heavy traffic loads, enhanced safety, increased skid resistance and a higher level of comfort for both pedestrians and drivers. These factors have led to the use of PMB in road construction in developing economies. Increasing use of bitumen, particularly in road construction activities in different developing economies worldwide, is creating favorable opportunities for the polymer modified bitumen (PMB) market.
Key segments of the Global Polymer Modified Bitumen (PMB) Market
Type Overview, 2015-2025 (Kilo Tons) (USD Million)
Thermoplastic elastomers
Plastomers
Application Overview, 2015-2025 (Kilo Tons) (USD Million)
Road Construction
Roofing
Others
Asia Pacific accounted for 34.1% of the revenue share in 2017 in the global polymer modified bitumen (PMB) market and is projected to grow at a CAGR of 7.3% during the forecast period. The upgrading of existing highways, widening of existing roads and construction of new highways in the region is expected to propel the polymer modified bitumen market size growth in the region. Furthermore, rising infrastructural development is another key driving factor for the market growth, especially in China and India. Increasing investments for infrastructural development has been a primary factor driving the polymer modified bitumen (PMB) market in the region. For instance, in August 2018, the Indian Government approved INR 2 billion (USD 29.83 million) highway projects to improve connectivity between Gujarat, Maharashtra, Rajasthan, Madhya Pradesh and Diu. According to the India Brand Equity Foundation (IBEF), the government of India has set a target to construct 200,000 km national highways by 2022. These investments are expected to augment the demand for PMB in road construction. Robust growth of the construction industry owing to government initiatives to improve public infrastructure in the region is projected to favorably impact the polymer modified bitumen market size in the region.
Who should buy this report?
This study is suitable for industry participants and stakeholders in the global polymer modified bitumen (PMB) market, who want an in-depth insight into the movement of the global polymer modified bitumen (PMB) market. The report will benefit:
Executives of global polymer modified bitumen (PMB) companies that are engaged in the polymer modified bitumen (PMB) production and exporting
Managers within financial institutions looking to publish recent and forecasted statistics pertaining to global polymer modified bitumen (PMB) market
Venture capitalists and investors looking for more information on the future outlook of the global polymer modified bitumen (PMB) market
Government organizations, regulatory authorities, policymakers and financial organizations looking for innovative solutions for manufacturing polymer modified bitumen (PMB)
Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies
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