Bitumen Modifier Market

Bitumen Modifier Market - Global Industry Analysis 2016 - 2020 and Opportunity Assessment 2021 - 2031

Bitumen Modifier Market Segmented By Modifier Type such as Styrene-Butadiene-Styrene, Atactic Polypropylene, Crumb Rubber, Natural Rubber having Hot Asphalt, Cold Asphalt, Torch Applied as Application

Industry: Chemicals and Materials

Format: PPT*, PDF, EXCEL

Delivery Timelines: Contact Sales

Report Type: Ongoing

Report ID: PMRREP32915

Report Price

$ 4900*

Pre Book

Bitumen Modifier Market Forecast and CAGR

During the forecast period 2021-2031, the bitumen modifiers market is expected to grow at a CAGR of more than 4%. Bitumen, a byproduct of refined crude oil, is widely used as a binding organic material. Bitumen is used in road construction because it is inexpensive to produce, reusable, non-toxic, and has a high binding strength.

Bitumen is a black or dark brown non-crystalline solid or viscous material that is primarily composed of high molecular weight hydrocarbons and has adhesive properties. It is derived from petroleum either naturally or through refinery processes and is highly soluble in carbon disulphide.

Increasing road construction and repair activities and demand from commercial and domestic building constructions are augmenting the growth of the Bitumen modifier market.

What is Driving Demand for Bitumen Modifier

Globally, the infrastructure sector is growing steadily, owing to increased government spending to promote local infrastructure. In order to keep up with rising economic activity and shifting demographic trends, developing economies are spending more on infrastructure than developed economies.

The product is used in the building & construction industry, and the global expansion of the construction industry is driving demand for the product.

The rapidly rising construction industry in Asia-Pacific and the Middle East regions, as well as increasing usage of the Bitumen modifier, are the primary factors driving the growth of its market.

Construction Industry expected to drive the consumption of Bitumen Modifiers

The majority of bitumen consumed is converted into asphalt for road construction. Asphalt is a compound composed of rock aggregates and bitumen. Bitumen acts as a binding agent and is thus responsible for asphalt's stability.

Asphalt roads can be designed to be suitable for regions with varying climatic conditions or levels of operation depending on the type of bitumen or mixture used. Asphalt roads can be designed to be suitable for regions with varying climatic conditions or operational demands, depending on the type of bitumen or mixture used.

Asphalt is also used on airport runways, parking decks, and port work areas. Increase in construction of roads, airport runways, and parking decks boosting the Bitumen modifier market.

Asia-Pacific Bitumen Modifier Market Outlook

Asia Pacific market of Bitumen modifier is expected to grow at a significant rate. This is due to the region's strong demand from Infrastructure activities in Asia-Pacific developing economies are expected to increase significantly, particularly in the transportation sector, due to increased urbanization and a shift in focus toward developing secondary sectors in these countries.

Given the fact that these sectors have the potential to attract larger investments in the near future, governments in developing economies (such as China and India, among others) are taking initiative by enacting legislation that reflect opportunities in building infrastructure, which is critical for the growth of a specific sector. This factor is also driving the market for the product.

European Bitumen Modifier Market Outlook

Over the forecast period, the Europe bitumen market is expected to grow at a healthy rate. The increase in road construction and repair activities in the European region is the primary driver of the market. Infrastructure renovations to improve energy efficiency and compliance with the Paris Agreement are also expected to boost the market.

The European road construction market is expected to grow rapidly during the forecast period, as the economy improves and construction increases. In the future, innovative methods for producing crumbed-rubber-modified bitumen are likely to present an opportunity. Due to increased demand from the construction industry, Germany is expected to dominate the market across Europe.

Who are the Key Manufacturers and Suppliers of Bitumen Modifier

Some of the leading manufacturers and suppliers of Bitumen modifier are

  • ROSNEFT
  • Gazprom Neft PJSC
  • Royal Dutch Shell plc
  • Total
  • Repsol etc.

The market is highly concentrated, with only a few players. Significant production know how and high initial investment due to cutting-edge technology are expected to hinder new market entrants. Mergers and acquisitions are common in this industry and are expected to further consolidate the market in the future.

Key Segments

By Modifier Type

  • Styrene-Butadiene-Styrene
  • Atactic Polypropylene
  • Crumb Rubber
  • Natural Rubber
  • Others

By Application

  • Hot Asphalt
  • Cold Asphalt
  • Torch Applied
  • Others

By End user Industry

  • Road Construction
  • Building Construction
  • Others

By Region

  • North America
    • U.S.
    • Canada
  • Latin America
    • Mexico
    • Brazil
    • Rest of Latin America
  • Europe
    • Germany
    • Italy
    • France
    • U.K
    • Spain
    • BENELUX
    • Russia
    • Rest of Europe
  • South Asia
    • India
    • ASEAN
    • Australia & New Zealand
  • East Asia
    • China
    • Japan
    • South Korea
  • Middle East and Africa
    • GCC Countries
    • Turkey
    • S. Africa
    • Northern Africa

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.

The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Market Report Highlights:

  • Detailed overview of parent market
  • Changing market dynamics in the industry
  • In-depth market segmentation
  • Historical, current and projected market size in terms of volume and value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on market performance
  • Must-have information for market players to sustain and enhance their market footprint

NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.

To know more about delivery timeline for this report Contact Sales

Companies Covered in This Report

Thank you for taking time to visit our website, click like if you found the information on this page useful?

This site uses cookies, including third-party cookies, that help us to provide and improve our services.
Google translate