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By 2024, Polymer Modified Bitumen Market Growth Factor, Leading Companies, Industry Challenges, Share, Region, Forecast | By Top company IKA group, Tiki Tar Industries, AMT Techno
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Increasing population is also a favoring factor toward the infrastructural developments. India and China are the major countries witnessing a rapid growth in population as well as GDP. This is bound to fuel the housing demand on large scale, which will stimulate polymer modified bitumen market share over the years ahead. To provide luxurious facilities to civilians, the governments across APAC have been investing heavily in new infrastructural development projects such as road construction, which will also favor polymer modified bitumen market growth.
Polymer modified bitumen market is growing exponentially subject to the shifting focus of the infrastructural developers toward the adoption of PMB material to enhance the performance properties of road and pavement constructions. Superior binding capability and excellent cohesive characteristic of the material make it applicable for residential and commercial construction applications, which, in turn, will stimulate polymer modified bitumen market size.
Increasing per capita income and rising spending capability is also certain to propel the product demand over the years ahead. As per the report by Global Market Insights, Inc., “Worldwide Polymer Modified Bitumen Market having had a revenue of USD 9.5 billion in 2016, is slated to witness an annual growth rate of above 4% over the coming seven years.”
To prevent the hazardous impact of non-degradable products on the environment and increase the reusability of the material, manufacturers are giving preference to thermoplastic materials, which are chemically inert. Polymer modified bitumen market size from thermoplastic elastomers will collect a sizable revenue by 2024, owing to the escalating use of this product pertaining to lower costs and superior quality. Shifting trends toward the development of eco-friendly residential buildings to reduce carbon footprints in the environment are expected to enhance the product demand. Apart from this, PMB material is extensively used to control the leakages of ceilings and walls, owing to its cohesion and waterproofing characteristics, which will stimulate polymer modified bitumen market share noticeably.
Polymer modified bitumen market giants are investing heavily in the R&D activities to explore alternative raw materials to manufacture PMB. IKA group, Tiki Tar Industries, AMT Techno, Space Petro Energy Pvt. Limited, Offshore Petrochem Pvt Ltd., Gulf Petrochem, MBD Industries, Marini S.P.A., L. N. Petro Chem Private Limited., MBD Industries, Ratnamani Industries, RoadStar, Allied Bitumen Complex, Bitumat Co. Ltd., Ooms Avenhorn Holding India Pvt Ltd., Allied Bitumen Complex, Veekay Industries, The Richmond Group, Royal Dutch Shell, Maruti Group, and Bitumat Co. Ltd., are the prominent players in polymer modified bitumen market.
Glimpse of Table of Content (ToC)
Chapter 4. Polymer Modified Bitumen (PMB) Market, By Product
4.1. Global polymer modified bitumen (PMB) market share by product, 2016 & 2024
4.2. Thermoplastic elastomers
4.2.1. Polymer modified bitumen market estimates and forecasts, 2013 - 2024
4.2.2. Market estimates and forecasts by region, 2013 – 2024
4.2.3. Styrene butadiene styrene (SBS)
4.2.3.1. Market estimates and forecasts, 2013 - 2024
4.2.3.2. Polymer modified bitumen market estimates and forecasts by region, 2013 – 2024
4.2.4. Styrene butadiene rubber (SBR)
4.2.4.1. Market estimates and forecasts, 2013 - 2024
4.2.4.2. Market estimates and forecasts by region, 2013 – 2024
4.2.5. Styrene isoprene styrene (SIS)
4.2.5.1. Polymer modified bitumen market estimates and forecasts, 2013 - 2024
4.2.5.2. Market estimates and forecasts by region, 2013 – 2024
Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/polymer-modified-bitumen-PMB-market
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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