Press release
2019 Polymer Modified Bitumen Market by Top Leading Companies - Indian Oil Corporation, Royal Dutch Shell, Benzene International, Lagan Asphalt Group, Total S.A., ExxonMobil, Nynas AB, GULF PETROCHEM and others
Polymer Modified Bitumen
“Polymer Modified Bitumen Market 2019” report gives distinctive insights worldwide market competition for Polymer Modified Bitumen. Focusing on objectives of this report is to categorize dynamics of the market and to supply latest updates like mergers and acquisitions, numerous technological developments, new entrants within the market, that create an impression on totally different segments of the Polymer Modified Bitumen market.
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About the Polymer Modified Bitumen Market:
The global polymer modified bitumen (PMB) market size is estimated to be worth USD 14.85 billion by 2025, driven by the rise in the construction and infrastructural activities across the globe. The increasing use of bitumen as waterproofing, ceiling-binding and adhesives in wood industry are some of the primary factors driving the global polymer modified bitumen industry.
Top Key Players of Polymer Modified Bitumen market
Indian Oil Corporation, Royal Dutch Shell, Benzene International, Lagan Asphalt Group, Total S.A., ExxonMobil, Nynas AB, GULF PETROCHEM
Scope of the Report (Overlook 2019-2025):
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.
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.
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.
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
Regional Overview, 2015-2025 (Kilo Tons) (USD Million)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Table of Contents
1. Executive Summary
2. Research Methodology
3. Market Outlook
4. Global Polymer Modified Bitumen (PMB) Market Overview, By Type
5. Global Polymer Modified Bitumen (PMB) Market Overview, By Application
6. Global Polymer Modified Bitumen (PMB) Market Overview, By Region
7. Competitive Landscape
8. Company Profiles
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About Adroit Market Research:
Adroit Market Research provide quantified B2B research on numerous opportunistic markets, and offer customized research reports, consulting services, and syndicate research reports. We assist our clients to strategize business decisions and attain sustainable growth in their respective domain. Additionally, we support them with their revenue planning, marketing strategies, and assist them to make decisions before the competition so that they remain ahead of the curve.
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Adroit Market Research
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