Polymer modified bitumen market is majorly driven by the construction and infrastructural industry. The use of PMB in roofing and construction activities is increasing at a rapid pace due to its waterproofing and cohesive properties. Rise in the demand for housing and other infrastructural facilities due to increasing population in the developing countries, rising disposable income and purchasing power parity are the factors driving the PMB market as people are ready to spend more on new and developed housing and commercial spaces.

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 industry 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 (PMB) 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.”

Environmental awareness is pushing the use of green cement, eco-friendly construction materials and chemicals. Developing regions of the world have a great amount of construction activities and infrastructural development, which in turn, is propelling the regional polymer modified bitumen market. Developing economies such as China and India have huge construction activities owing to huge and rapidly increasing population which is demanding better and superior homes. These factors drive the PMB market on a large scale in the developing as well as the developed countries.
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 industry growth.

To access a sample copy or view the Polymer Modified Bitumen (PMB) Market report in detail along with the table of contents, please click the link below:

 https://www.gminsights.com/request-sample/detail/1804

Polymer modified bitumen industry share from road construction is likely to contribute considerably toward the overall market growth pertaining to the growing road construction activities mainly across North America and developing countries such as India and China. Emerging trends in the automotive sector such as autonomous cars will propel the product demand, as such cars require high-grade roads. PMB material helps to reduce deformation and cracks caused by gradual pressure applied on land, which supports the adoption of this product for road construction developments. The industry biggies across European countries are focusing on the commercialization of PMB material, which will also augment PMB industry size over the coming timeframe.

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 industry 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 PMB market share noticeably.

Industry 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.

Volatility in raw material prices due to changing crude oil prices may hinder the polymer modified bitumen market growth in the coming years. Petroleum is the primary raw material used in the manufacture of polymers in polymer modified bitumen. Fluctuating crude oil resources around the world, large scale extraction and refining of oil and demand & supply ratio are some of the chief factors affecting the industry.

Based on product, PMB market is classified into three broad categories which include- thermosetting polymers, thermoplastic polymers, and thermoplastic elastomers. Thermosetting polymers are further-divided into four segments namely, phenolic, epoxy, polyurethane, and acrylic resins. Thermosetting polymers have mineral particles with high adhesive strength and are comparatively high priced than thermoplastic elastomers and polymers. Thermoplastic elastomers have high temperature and storage stability with a comparatively lower cost and resistance to rutting. This segment finds extensive application in asphalt pavements due to its adhesion and cohesion properties.

The polymer modified bitumen market is segmented into emulsions, road construction, and roofing & piping on the basis of application. The emulsions segment is further classified into waterproofing and paving. Use of superior quality material for construction of houses and other infrastructural facilities is on a rise. Use of waterproofing solutions to prevent wetness and leakages of walls and ceilings is rising as new and improved construction material is available. These factors are propelling the PMB market demand.

Geographically, North America polymer modified bitumen market accounts for a significant share owing to road construction and development activities. The region has a mature construction industry due to excellent infrastructural and housing facilities. Road construction and development activities in Europe will further augment the PMB market owing to extensive use of the product owing to its cohesive, elastic and adhesive properties.

Key players operating in the global polymer modified bitumen market are Royal Dutch Shell, Maruti Group, IKA group, Lagan Asphalt Group Ltd., MBD Industries, Offshore Petrochem, AMT Techno, Ooms Avenhorn Holding, Tiki Tar Industries, The Richmond Group, Marini S.P.A., Gulf Petrochem, L N Petro Chem, Veekay Industries, RoadStar, Ratnamani Industries, Space Petro Energy, Allied Bitumen Complex, South Machinery, and Bitumat Company Limited.