Global Modified Bitumen Market - Size, Projections, Drivers, Trends, Vendors, and Analysis Through 2021 by Technavio

Technavio has published a new report on the global modified bitumen market from 2017-2021. (Graphic: Business Wire)

???pagination.previous??? ???pagination.next???

LONDON--()--The global modified bitumen market is projected to grow to USD 18.74 billion by 2021, at a CAGR of more than 6% over the forecast period, according to Technavio’s latest report.

In this report, Technavio covers the market outlook and growth prospects of the global modified bitumen market for 2017-2021. Based on the applications, the market is divided into road and building construction segments.

Modified bitumen is a derivative of bitumen with modifiers that impart plastic or rubber-like properties. The rise in building renovations and remodeling is creating a high demand for modified bitumen, giving the market vendors ample opportunities to boost their sales.

Technavio’s research study segments the global modified bitumen market into the following regions:

  • Americas
  • EMEA
  • APAC

Modified bitumen market in the Americas

“The Americas is the largest segment of the modified bitumen market, and is expected to continue its dominance over the forecast period, driven by the rise in demand for rubberized polymers with asphalt,” says Ajay Adikari, a lead analyst at Technavio for specialty chemicals research.

The high requirement for good-quality paved roads in the Americas drives the growth of the market segment, thereby strengthening the prospect of the consumption of modified bitumen. Further, the benefits that modified bitumen holds such as noise reduction and skid resistance also contributed to the high market demand for the product in the region.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

Modified bitumen market in EMEA

By revenue, the modified bitumen market in EMEA is expected to be worth USD 6.41 billion by 2021. The growth in the region can be attributed to the rising demand for the polymer-modified bitumen membranes, especially in commercial and industrial applications. An increase in R&D activities is expected to the sale of modified bitumen in the region.

Additionally, the rise in road transport with an increase in passenger distances and transportation of goods by roads has given the modified bitumen market a healthy prospect with respect to road construction and repair.

Modified bitumen market in APAC

APAC is projected to showcase a CAGR of nearly 7% through 2021, becoming the fastest-growing region of the market. The increasing awareness about the advantages of modified bitumen as an eco-friendly substitute for conventional paving and roofing applications is a key driver of the market growth,” says Ajay.

End-use industries, including road and building construction, highlight the growing demand for modified bitumen in APAC. For instance, in India, there is a huge demand for construction materials, backed by increased road construction activities call for the deployment of low-cost and low-temperature susceptible components like modified bitumen.

The top vendors in the global modified bitumen market highlighted in the report are:

  • Colas
  • Nynas
  • Royal Dutch Shell
  • Sika
  • Total

Browse Related Reports:

Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they’re published in addition to all 6,000+ existing reports covering segments like glass and ceramics, industrial gases, and paints, coatings, and pigments. This subscription nets you thousands in savings, while staying connected to Technavio’s constant transforming research library, helping you make informed business decisions more efficiently.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

The global modified bitumen market is projected to grow to USD 18.74 billion by 2021, at a CAGR of more than 6% over the forecast period, according to Technavio’s latest report.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com