Global Polymer Modified Bitumen Market, By Type (Thermoplastic Elastomers, Plastomers, SBS Modified Bitumen, Crumb Rubber Modified Bitumen, Others), Application (Road Construction, Roofing, Others) – Industry Trends and Forecast to 2029.
Polymer Modified Bitumen Market Analysis and Size
Bitumen has been used in a variety of applications in the building and construction industry over the last half-decade, including binders, sealants, adhesives, road pavements, and so on. However, technological advancements and increased research and development activities have paved the way for developing a better type of bitumen known as polymer modified bitumen.
Data Bridge Market Research analyses that the polymer modified bitumen market which was growing at a value of 11.17 billion in 2021 and is expected to reach the value of USD 17.94 billion by 2029, at a CAGR of 6.10% during the forecast period. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Polymer Modified Bitumen Market Scope and Segmentation
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Report Metric |
Details |
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Forecast Period |
2022 to 2029 |
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Base Year |
2021 |
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Historic Years |
2020 (Customizable to 2014 - 2019) |
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Quantitative Units |
Revenue in USD Billion, Volumes in Units, Pricing in USD |
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Segments Covered |
Type (Thermoplastic Elastomers, Plastomers, SBS Modified Bitumen, Crumb Rubber Modified Bitumen, Others), Application (Road Construction, Roofing, Others), |
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Countries Covered |
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America |
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Market Players Covered |
Valero (U.S.), NuStar Energy L.P (U.S.), Suncor Energy Inc, (Canada), Athabasca Oil Corporation (Canada), Imperial Oil Limited (Canada), Syncrude Canada Ltd. (Canada), Indian Oil Corporation Ltd (India), ENEOS Corporation (Japan), ExxonMobil Coroporation (U.S.), Shell Bitumen (U.K.), Petróleos Mexicanos (Mexico), Nynas AB (Sweden), Marathon Oil Company (U.S.), Bp p.l.c (U.K.), Royal Dutch Shell plc (U.K.), Total Energy (France), Sinopec Corporation (China), Chevron Corporation (U.S.), Bouygues Groups (France), Villas Austria GmbH (Austria), Gazprom-Neft (Russia) |
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Opportunities |
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Market Definition
Polymer modified bitumen (PMB) is a binder made up of polymeric material dispersed in bitumen that has improved binder performance for a variety of applications. Bitumen and crumb rubber can also be combined to create polymer modified bitumen (PMB). Polymer modified bitumen (PMB) is used to improve the performance of binders on heavily distressed or heavily trafficked pavements, which are frequently exposed to harsh weather conditions. When polymer modified bitumen (PMB) is used in construction, it provides a number of benefits. These include increased elasticity or resilience, cohesion, low temperature susceptibility, and improved tenacity once a bond is formed.
Global Polymer Modified Bitumen Market Dynamics
Drivers
- Rapid road construction activities
Due to the rise in economic development in developing economies, polymer modified bitumen (PMB) is being used extensively in road construction. This encourages companies to invest more in additive research and development. As a result, the polymer modified bitumen (PMB) market is expected to grow in the near future. Furthermore, the forecast period is expected to see an increase in demand for more durable pavement materials in a variety of applications, boosting demand for polymer modified bitumen (PMB).
- Development of advance products
Companies in the global polymer modified bitumen (PMB) market are constantly looking for new and better ways to manufacture polymer modified bitumen (PMB). The development of new processes for producing polymer modified bitumen (PMB) is expected to propel the market in the near future.
Opportunities
- Various positive characteristics associated with bitumen
Bitumen is commonly used as a chemical additive in a variety of applications such as black paints and solvents. As a chemical additive, bitumen increases the viscosity of waterproofing agents and improves the productivity of coatings and paints. The chemically modified bitumen is also used as a candy coated chemical additive in emulsions. Bitumen helps to provide better adhesion properties when mixed with organic amides and amines, and when mixed with fly ash and lime, it provides smooth and excellent road surfaces. As a result, these factors are expected to boost the polymer modified bitumen market in the coming years.
Restraints
- Price volatility and rate fluctuations
The drop in oil prices has decreased raw material supply, causing rate volatility and fluctuation in the polymer modified bitumen market, which will limit industry growth during the forecast period. Bitumen is a tough product to handle due to its long supply chain. This feature is being challenged by large suppliers who have begun selling directly to refineries.
- Strict environment regulations
Also, manufacturing processes and strict environmental regulations towards uses obstruct the growth of the polymer modified bitumen market in future years. Petrochemical prices and wavering oil prices during the forecast period can affect the price trends in the polymer modified bitumen market.
This polymer modified bitumen market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the polymer modified bitumen market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
COVID-19 Impact on Polymer Modified Bitumen Market
Many building and construction projects have been halted as a result of the coronavirus pandemic, which is affecting market demand for polymer modified bitumen. During the outbreak, no new orders can be accepted, nor can existing orders be completed. Building and construction activities have been temporarily halted in several regions. For example, construction output in the United Kingdom fell by a record 35.0% in Quarter 2 (April to June) 2020 compared to Quarter 1 (January to March) 2020. The decrease in building and construction operations has significantly reduced demand for polymer modified bitumen, which significantly impacts market growth.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Development
- In July 2020, Total Energy Company and an Indian Oil Corporation had announced a joint venture of 50:50 to produce and supply high end bitumen derivatives
- In November 2019, Transport and construction complex research institute and Gazprom Neft Bitumen Materials collaborated on developing high tech bitumen binders for roadbuilding.
Global Polymer Modified Bitumen Market Scope
The polymer modified bitumen market is segmented on the basis of type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Thermoplastic Elastomers
- Plastomers
- SBS Modified Bitumen
- Crumb Rubber Modified Bitumen
- Others
Application
- Road Construction
- Roofing
- Others
Polymer Modified Bitumen Market Regional Analysis/Insights
The polymer modified bitumen market is analyzed and market size insights and trends are provided by country, type and application as referenced above.
The countries covered in the polymer modified bitumen market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the polymer modified bitumen market due to the region's growing roofing industry and rising preferences for low-smoke bitumen with improved resistance.
Asia-Pacific polymer modified bitumen market is expected to grow at the fastest rate in China and India due to rising disposable income levels and increased usage of the product in highway construction.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Polymer Modified Bitumen Market Share Analysis
The polymer modified bitumen market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to polymer modified bitumen market.
Some of the major players operating in the polymer modified bitumen market are:
- Valero (U.S.)
- NuStar Energy L.P (U.S.)
- Suncor Energy Inc, (Canada)
- Athabasca Oil Corporation (Canada)
- Imperial Oil Limited (Canada)
- Syncrude Canada Ltd. (Canada)
- Indian Oil Corporation Ltd (India)
- ENEOS Corporation (Japan)
- ExxonMobil Coroporation (U.S.)
- Shell Bitumen (U.K.)
- Petróleos Mexicanos (Mexico)
- Nynas AB (Sweden)
- Marathon Oil Company (U.S.)
- Bp p.l.c (U.K.)
- Royal Dutch Shell plc (U.K.)
- Total Energy (France)
- Sinopec Corporation (China)
- Chevron Corporation (U.S.)
- Bouygues Groups (France)
- Villas Austria GmbH (Austria)
- Gazprom- Neft (Russia)
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