Polymer Modified Bitumen Market size to surge at a growth rate of 4% to 2024

Based on product, Polymer Modified Bitumen Market is classified into three broad categories which include- thermosetting polymers, thermoplastic polymers, and thermoplastic elastomers.

The size of Polymer Modified Bitumen Market was anticipated as 9.5 billion in the year 2019 and is predicted to touch 14 billion till 2024, rising with a CAGR of 4% between the years 2019 to 2024 as per the research done by Global Market Insights, Inc.

Growth in construction sector and flourishing infrastructural activities will likely spur the polymer modified bitumen market in coming years. The product is widely used for the roofing, piping and other construction works for its cohesive and waterproofing properties. Increasing housing and infrastructural facilities demand in developing economies owing to rise in population level along with increase in personal income will contribute towards the industry growth.

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Fluctuation in the prices of raw materials owing to the continuous changes in crude oil and petroleum prices may hamper the polymer modified bitumen market demand in forecast timeframe. Bitumen is derived from crude oil and depleting oil resources across the globe due to excessive exploration activities is likely to be the key restraining factor for polymer modified bitumen market growth in future.

Polymer Modified Bitumen market has been bifurcated into product and application. The product segment is categorized into three types among which thermoplastic elastomers held the major share of the total polymer modified bitumen market for its superior features such as resistance from UV & heat and low cost as compared to other products. It has wide usage in pavements construction owing to its extreme cohesion and adhesion properties.

Emulsion application segment is fragmented into paving and waterproofing. Increasing high quality material demand for housing and other infrastructure construction activities will propel the emulsions application segment growth. Rise in waterproofing solution demand to prevent leakages and wetness of ceilings and walls will also have a positive impact on the global polymer modified bitumen market growth till 2024.

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On the regional basis, Asia Pacific held most of the share in polymer modified bitumen market due to increase in regional construction and infrastructure development activities. Emerging economies such as India and China have a huge population coupled with increasing purchasing power and GDP. Growing housing need in these areas since last decade has resulted in new construction projects, which are carried out by private players and respective local governments. This in turn, will enhance the polymer modified bitumen industry development in the forecast timeframe.

The major companies in the polymer modified bitumen market include Royal Dutch Shell, RoadStar, Tiki Tar., Offshore Petrochem, Ooms Avenhorn Holding, AMT Techno, Maruti Group, MBD Industries, Lagan Asphalt Group, L N Petro Chem, IKA group, MARINI, Bitumat Company, Gulf Petrochem, South Machinery, Allied Bitumen Complex, The Richmond Group, Ratnamani Industries and others.

Browse key industry insights spread across 200 pages with 387 market data tables & 15 figures & charts from the report, “Polymer Modified Bitumen (PMB) Market Size By Product (Thermoplastic Elastomers [SBS, SBR, SIS, SEBS, EPDT, IIR, Natural Rubber], Thermoplastic Polymers [EVA, EMA, EBA, APP, PE, PP], Thermosetting Polymers [Epoxy Resin, Polyurethane Resin, Acrylic Resin, Phenolic Resin]), By Application (Road Construction, Roofing & Piping, Emulsions [Paving, Waterproofing]), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/polymer-modified-bitumen-PMB-market

Glimpse of Table of Content (ToC)

Chapter 3. Polymer Modified Bitumen (PMB) Industry Insights
3.1. Industry segmentation
3.2. Industry size and forecast, 2013 - 2024
3.3. Industry ecosystem analysis
3.3.1. Vendor matrix
3.3.2. Distributor channel analysis
3.4. Industry impact forces
3.4.1. Growth drivers
3.4.1.1. Superior quality of PMB over normal bitumen
3.4.1.2. Rapidly developing infrastructure in the developing economies
3.4.1.3. Developing construction industry
3.4.2. Industry pitfalls & challenges
3.4.2.1. Fluctuation in raw material prices
3.5. Growth potential analysis
3.6. Technology trends
3.7. Regulatory trends
3.7.1. U.S.
3.7.2. Europe
3.7.3. China
3.8. Porter’s analysis
3.9. Company market share analysis, 2016
3.9.1. Strategic landscape
3.10. PESTEL analysis
3.11. Regional price trends
3.11.1. Cost structure analysis
3.11.2. Raw material trends

Browse Full TOC @ https://www.gminsights.com/toc/detail/polymer-modified-bitumen-PMB-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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