The global Polymer Modified Bitumen Market was valued at USD 11.79 Bn in 2021 and is anticipated to grow at a CAGR of 16.25% and is expected to reach USD 45.71 Bn by 2030.
The increased adoption of Polymer Modified Bitumen in the Petrochemicals industry is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Polymer Modified Bitumen also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Polymer Modified Bitumen in many sectors also boosts the market growth during the forecast period.
Bitumen that has been mixed with one or more polymer elements to change or improve its mechanical characteristics is known as polymer modified bitumen. Polymers are added to bitumen to increase its elastic nature and improve its numerous mechanical and physical characteristics. The use of polymer modified bitumen is being promoted by a number of its better qualities, including increased strength, cohesiveness, resistance to fatigue and deformation, reduced temperature sensitivity, durability, and waterproofing.
Polymer Modified Bitumen Market Research Report” was just released by Market Research Community. It is divided into several categories, including By Product (Thermoplastic Elastomer (Styrene Isoprene Copolymer (SIS), Styrene Ethylene Butylene Styrene (SEBS), Butyl Rubber (IIR), Natural Rubber, Styrene Butadiene Styrene (SBS), Styrene Butadiene Rubber (SBR), Others), Thermoplastic Polymer (Atactic Polypropylene (APP), Polyethylene (PE), Polypropylene (PP), Ethylene Vinyl Acetate (EVA), Ethylene Methacrylate (EMA), Ethylene Butyl Acrylate Copolymer (EBA), Others), Thermosetting Polymer (Acrylic Resin, Phenolic Resin, Epoxy Resin, Polyurethane Resin)), By Application (Paving,Water Proofing,Road Construction,Roofing & Piping,Emulsions), and companies (Roadstar, The Richmond Group, MBD Industries, LN Petrochem, Veekay Industries, Tiki Tar Industries, Royal Dutch Shell, IKA Group, AMT Techno, Gulf Petrochem, Maruti Group, Ratnamani Industries), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 16.25%, over the forecast period of 2022–2030
|Report Attributes||Report Details|
|Market Size in 2030 (USD Billion)||45.71 Billion|
|By Type||Thermoplastic Elastomer, Thermoplastic Polymer, Thermosetting Polymer, & Others|
|By Application||Paving, Water Proofing, Road Construction, Roofing & Piping, Emulsions|
|By Geography||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Key Players||Roadstar, The Richmond Group, MBD Industries, LN Petrochem, Veekay Industries, Tiki Tar Industries, Royal Dutch Shell, IKA Group, AMT Techno, Gulf Petrochem, Maruti Group, Ratnamani Industries|
The COVID-19 pandemic has had a substantial negative influence on the Polymer Modified Bitumen market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
- The Richmond Group
- MBD Industries
- LN Petrochem
- Veekay Industries
- Tiki Tar Industries
- Royal Dutch Shell
- IKA Group
- AMT Techno
- Gulf Petrochem
- Maruti Group
- Ratnamani Industries
Market Segment Analysis:
- Styrene Isoprene Copolymer (SIS)
- Styrene Ethylene Butylene Styrene (SEBS)
- Butyl Rubber (IIR)
- Natural Rubber
- Styrene Butadiene Styrene (SBS)
- Styrene Butadiene Rubber (SBR)
- Atactic Polypropylene (APP)
- Polyethylene (PE)
- Polypropylene (PP)
- Ethylene Vinyl Acetate (EVA)
- Ethylene Methacrylate (EMA)
- Ethylene Butyl Acrylate Copolymer (EBA)
- Acrylic Resin
- Phenolic Resin
- Epoxy Resin
- Polyurethane Resin
- Water Proofing
- Road Construction
- Roofing & Piping
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2021, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Polymer Modified Bitumen industries in the region.
Key Polymer Modified Bitumen Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Polymer Modified Bitumen Market segments.
– Largest Market Share Held by Industry to Industry for Polymer Modified Bitumen
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Polymer Modified Bitumen Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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