Directory Image
This website uses cookies to improve user experience. By using our website you consent to all cookies in accordance with our Privacy Policy.

Global Polymer Modified Bitumen (PMB) Market Size, PDF Report 2025

Author: Rupesh Dhiwar
by Rupesh Dhiwar
Posted: Jan 07, 2019

The global polymer modified bitumen (PMB) market size was valued at USD 8.88 billion in 2017. Increasing traffic and the resultant pressure created by the axle load on roads have necessitated the use of polymer modified bitumen. Furthermore, factors such as low maintenance cost and widening applications are contributing towards the growth of the global polymer modified bitumen industry.

Polymer modified bitumen (PMB) is a mixture of bitumen and polymers in which the polymer helps in changing the viscoelastic behavior of the bitumen making it more suitable for a range of stresses. Polymer modified binders (PMB) are a major advancement in bituminous binder technology as these materials better satisfy the demands of increasing traffic volumes and loads on road networks. The addition of polymer to regular bitumen makes it more elastomeric with additional elasticity. However, low aging resistance and poor storage stability are some of the factors that can hamper the global polymer modified bitumen (PMB) market growth.

Click to Continue Reading on https://www.adroitmarketresearch.com/industry-reports/polymer-modified-bitumen-pmb-market

One of the recent trends in the global polymer modified bitumen (PMB) market is the emergence of bio-based bitumen. In June 2018, Aston University scientists developed a new way of converting organic waste, such as paper, decomposed food, and plastic, into a material suitable for road and pavement laying. The usage of this material is expected to reduce the 7.7 million tons of biodegradable municipal waste that is sent to landfills every year. This material could pave a way for a greener and a cheaper alternative as compared to extracting bitumen from oil sands and crude oil, thereby, impacting the overall polymer modified bitumen market size during the forecast period.

Plastomers had a valuation of USD 3.13 billion in 2017 in the global polymer modified bitumen industry. The growth in the applicability and consumption of plastomers is majorly attributed to the enhanced stiffness and viscosity provided by bitumen. Plastomers give bitumen a high initial strength to withstand heavy loads. They have a lower tolerance of strain and can crack at high stresses. EVA (Ethene-Vinyl-Acetate) and PE (Polyethylene) are the commonly used plastomers in PMB.

Road construction application emerged as the fastest growing application in the polymer modified bitumen industry holding more than 70% of volume and revenue share in 2017 and is projected to witness rapid growth in the future. Expansion of road networks globally is the key driving factor behind the growth of the segment. Bitumen possesses adhesive properties that make it favorable for road construction. The primary objective of the polymer modified bitumen is to increase the shelf-life of pavements and roads. The roads and pavements that are constructed for extreme weather conditions and heavy-duty traffic need specially prepared bitumen grades for enhanced performance, resulting in the widespread use of PMB. The advantages of PMB include greater resistance to heavy traffic loads, enhanced safety, increased skid resistance and a higher level of comfort for both pedestrians and drivers. These factors have led to the use of PMB in road construction in developing economies. Increasing use of bitumen, particularly in road construction activities in different developing economies worldwide, is creating favorable opportunities for the polymer modified bitumen (PMB) market.

Asia Pacific accounted for 34.1% of the revenue share in 2017 in the global polymer modified bitumen (PMB) market and is projected to grow at a CAGR of 7.3% during the forecast period. The upgrading of existing highways, widening of existing roads and construction of new highways in the region is expected to propel the polymer modified bitumen market size growth in the region. Furthermore, rising infrastructural development is another key driving factor for the market growth, especially in China and India. Increasing investments for infrastructural development has been a primary factor driving the polymer modified bitumen (PMB) market in the region. For instance, in August 2018, the Indian Government approved INR 2 billion (USD 29.83 million) highway projects to improve connectivity between Gujarat, Maharashtra, Rajasthan, Madhya Pradesh and Diu. According to the India Brand Equity Foundation (IBEF), the government of India has set a target to construct 200,000 km national highways by 2022. These investments are expected to augment the demand for PMB in road construction. Robust growth of the construction industry owing to government initiatives to improve public infrastructure in the region is projected to favorably impact the polymer modified bitumen market size in the region.

The global polymer modified bitumen (PMB) market is highly fragmented owing to the presence of a large number of global players. Companies including Total S.A., Nynas AB, Royal Dutch Shell, ExxonMobil, Indian Oil Corporation, Lagan Asphalt Group, GULF PETROCHEM, BITUMINA GROUP, Hindustan Colas Private Limited, and Benzene International Pte Ltd. among others have a broader presence within the global polymer modified bitumen industry. Acquisitions are one of the key initiatives adopted by the key players to strengthen their position. For instance, in September 2014, Gulf Petrochem acquired the Royal Dutch Shell Bitumen Factory in Gujarat to meet the increasing demand for road construction products in western and northern India. This acquisition helped in increasing their product portfolio with petroleum products.

Request a sample copy of this report: https://www.adroitmarketresearch.com/contacts/request-sample/521

What does the report include?

The study on the global polymer modified bitumen (PMB) market includes qualitative factors such as drivers, trends, and opportunities

Additionally, the market has been evaluated using the value chain analysis and Porter’s Five Forces’ analysis.

The study covers qualitative and quantitative analysis of the market segmented on the basis of type and application.

The report provides a deep-dive data analysis for all the applications.

Actual market sizes and forecasts have been provided for all the above-mentioned segments.

The study includes the profiles of key players in the market with a significant global and/or country presence.

Who should buy this report?

This study is suitable for industry participants and stakeholders in the global polymer modified bitumen (PMB) market, who want an in-depth insight into the movement of the global polymer modified bitumen (PMB) market. The report will benefit:

Executives of global polymer modified bitumen (PMB) companies that are engaged in the polymer modified bitumen (PMB) production and exporting

Managers within financial institutions looking to publish recent and forecasted statistics pertaining to global polymer modified bitumen (PMB) market

Venture capitalists and investors looking for more information on the future outlook of the global polymer modified bitumen (PMB) market

Government organizations, regulatory authorities, policymakers and financial organizations looking for innovative solutions for manufacturing polymer modified bitumen (PMB)

Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies

About Adroit Market Research:

Adroit Market Research provide quantified B2B research on numerous opportunistic markets, and offer customized research reports, consulting services, and syndicate research reports. We assist our clients to strategize business decisions and attain sustainable growth in their respective domain. Additionally, we support them with their revenue planning, marketing strategies, and assist them to make decisions before the competition so that they remain ahead of the curve.

Contact US

Ryan Johnson

Adroit Market Research

3131 McKinney Ave #600

Dallas, TX 75204

Tel: +1-214-884-6068

Email: sales@adroitmarketresearch.com

About the Author

Working as Sr. Seo With Adroit Market Research

Rate this Article
Leave a Comment
Author Thumbnail
I Agree:
Comment 
Pictures
Author: Rupesh Dhiwar

Rupesh Dhiwar

Member since: Jul 03, 2018
Published articles: 59

Related Articles