Polymer Modified Bitumen Market Growing at a CAGR of 4.7% from 2023 to 2030.

Key Market Overview

Consegic Business Intelligence analyzes that the polymer modified bitumen market is predicted to grow at a compound annual growth rate of 4.7% during the period 2023-2030 and is expected to reach USD 15,803.79 Million in 2030 which was valued at USD 11,029.68 Million in 2022.

The report highlights the increasing investment and development of infrastructure globally that are proliferating the global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the Speaker Grill Fabric market.

Global Polymer Modified Bitumen Market By Overview

The polymer modified bitumen market is bifurcated into product type and application. Based on product type, the market is segmented into thermoplastic elastomers (styrene butadiene diblock (SB), styrene butadiene triblock/radial (SBS), styrene isoprene (SIS), styrene ethylbutylene styrene (SEBS), styrene butadiene rubber latex (SBR), polychloroprene latex, and others), thermoplastic polymers, thermosetting polymers, crumb rubber modified bitumen, and others. In 2022, the thermoplastic polymer segment dominate in the overall polymer modified bitumen market. The application segment is categorized into roofing & piping, road construction, emulsions, and others), industrial, and others. In 2022, the road construction segment accounted for the highest market share in the polymer modified bitumen market.

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Market Dynamics

Driver:

Growing demand for durable and sustainable infrastructure is driving the need for polymer modified bitumen to enhance the durability and longevity of the pavement.
Increasing roofing and waterproofing activities to protect structures from water leakage and other environmental factors.

Restraints:

Increasing emission of greenhouse gases due to the use of crumb-rubber modified bitumen is likely to hinder the polymer modified bitumen market

Market Segmentation:

Report Attributes	Report Details
By Product Type	Thermoplastic Elastomers (Styrene Butadiene Diblock (SB), Styrene Butadiene Triblock/Radial (SBS), Styrene Isoprene (SIS), Styrene Ethylbutylene Styrene (SEBS), Styrene Butadiene Rubber Latex (SBR), Polychloroprene Latex, and Others), Thermoplastic Polymers, Thermosetting Polymers, Crumb Rubber Modified Bitumen, and Others
By Application	Roofing & Piping, Road Construction, Emulsions, and Others
By Region	North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Competitive Landscape :

The market is dominated by certain major companies such as Shell Global, Nynas AB, Exxon Mobil Corporation, and TotalEnergies have a strong market position in current market circumstances. Further, the polymer modified bitumen market is expected to witness significant growth in coming years due to the development of polymer modified bitumen with the incorporation of waste materials. The market players compete for a firm market position through mergers and acquisitions, product innovations, and business strategies. Thus, evolving research and developments in polymer modified bitumen are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various end-use industries.

Shell Global
Nynas AB
TotalEnergies
Exxon Mobil Corporation
Colas Limited
Indian Oil Corporation Limited
Puma Bitumen
Alma Petroli
Porner Group
Maruti Bitumen Pvt Ltd.
Sika India Pvt. Ltd.

Global Polymer Modified Bitumen Market growing at a CAGR of 4.7 % from 2023 to 2030