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Modified Bitumen Market by Demographics, Sales and Profit, Key Findings, Key Strategies , and Forecast| Professional Report - 2022 to 2029
Based on previous market performance, the Modified Bitumen market is expected to reach USD 30.4 billion in size by 2028. With a 6% CAGR.Modified Bitumen Market Overview:
Bitumen is a black viscous mixture obtained from fractional distillation of crude oil and is a key component of asphalt, which is used to construct roads, streets, and other infrastructure. Modified bitumen is defined as a chemically designed material with the goal of providing optimal properties. One of the key properties of modified bitumen is its increased resistance to permanent deformation, which is particularly important in the case of asphalt mixtures used to build roads in harsh or high-traffic areas.
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Due to rising demand for modified bitumen from the road and building construction sectors, rising demand from waste and water management and various industrial sectors, as well as rising rapid industrialization, increasing road construction, repair, and maintenance activities, and rising research and development activities in this region, Asia-Pacific currently dominates the modified bitumen market.
Based on our expert's analysis the players that are leading the market includes: Bouygues, BP PLC, China Petrochemical Corporation, Exxon Mobil Corporation, Icopal ApS, Indian Oil Corporation Ltd, JXTG Nippon Oil & Energy Corporation, Kraton Corporation, Marathon Oil Company, and Nynas AB. and Others.
The whole market is segmented as follows:
Modified Bitumen Market by Modifier Type, 2022-2029, (IN USD Million)
Styrene-Butadiene-Styrene
Atactic Polypropylene
Crumb Rubber
Natural Rubber
Others
Polypropylene
Polyvinyl Chloride
Epoxy Resin
Polyurethane Resin
Styrene Butadiene Rubber
Ethylene Vinyl Acetate
Gilsonite
Fiber
Modified Bitumen Market by Applications, 2022-2029, (In USD Million)
Hot Asphalt
Cold Asphalt
Torch Applied
Others
Mechanically Fastened
Self-Adhering
Modified Bitumen Market by End Use, 2022-2029, (In USD Million)
Road Construction
Building Construction
Others
Waste & Water Management
Industrial Areas
Industry Developments:
In November 2019, Gazprom Neft Bitumen Materials and the Transport and Construction Complex Research Institute agreed to collaborate on the development of high-tech bitumen binders for road construction.
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Modified Bitumen Market' s top organizations are operating in a dynamic set-up, wherein they are required to incorporate unprecedented advances to reap benefits from the latest and upcoming information technologies and industry trends.
Regional Analysis:
This report is segmented into several key Regions, with production, consumption, revenue and market share and growth rate of Modified Bitumen Market. These regions, from 2022 To 2029, covering North America, Europe, China, Japan, Southeast Asia, India, North America (USA, Canada and Mexico) Europe (Germany, France, UK, Russia and Italy) Asia-Pacific (China, Japan, Korea, India and Southeast Asia) and ROW.
Our Market Intelligence reports give our clients the information they need to maintain a competitive edge in the marketplace. Competitor Analysis and Profiling studies delve further into a company's competitive strengths and shortcomings. Market assessments conducted by SIS reveal market opportunities, size, and viability.
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