San Francisco, California, New York, May 29, 2017: A new market research report by TMR Research, titled, “Modified Bitumen Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025,” presents a detailed overview of the global market. Analyzing the market for developmental trends of the past, the report also presents a forecast of the state of the market from 2017 to 2025.
Modified bitumen demonstrates strong resistance to permanent deformation, particularly when mixed with asphalt for building roads meant for heavy traffic or in harsh conditions. Adding modifying binders to conventional bitumen also prevents it from cracking, ageing, stripping, and thermal fissures. On account of so many benefits of modified bitumen in addition to better elasticity of the bitumen, its market is seeing steady growth.
The booming construction industry has majorly boosted the global modified bitumen industry. Modified bitumen is being increasingly used in building roads and roofs. A modified bitumen roof system is a hybrid, asphalt built-up roof (BUR). It has the benefits of the built-in redundancy of the BUR, along with the higher strength, flexibility, and UV resistance of a modified membrane. The fast-paced industrialization worldwide is also said to be stoking the modified bitumen market.
One factor acting as a deterrent to the market is the limited number of oil resources capable of producing such high-quality bitumen.
Thermoplastic elastomers and plastomers that find application in bitumen modification are ethylene-butyl acrylate (EBA), styrene-butadiene-styrene (SBS), styrene-isoprenestyrene (SIS), polypropylene (PP), atactic polypropylene (APP), ethylene-vinyl acetate (EVA), natural rubber, and crumb rubber. Among them, SBS accounts for maximum market share both volume- and value-wise. This is because of its use across numerous industries.
The prominent end-use segments in the global modified bitumen market are road construction, building construction, and waterproofing. Currently, the road construction segment grosses maximum revenue as a lion’s share of the bitumen produced worldwide is used in the segment. Going forward too, the segment will contribute the most to the revenue.
Geographically, the key segments of the global modified bitumen market are Europe, North America, Asia Pacific, and the Middle East and Africa. Among them, Asia Pacific and the Middle East and Africa are said to be leading the charge on account of the developing nations in the regions driving up demand for modified bitumen for road construction. This in turn is a result of the massive thrust on infrastructure building in such regions.
In order to assess the competition prevailing in the global modified bitumen market, the report profiles players such as Royal Dutch Shell Plc., Nynas AB, Sika AG, and Total S.A.