Global Modified Bitumen Market 2018-2022 | Increase in Road Construction Activities to Boost Demand | Technavio

Technavio has published a new market research report on the global modified bitumen market from 2018-2022. (Graphic: Business Wire)

LONDON--()--Technavio analysts forecast the global modified bitumen market to grow at a CAGR of over 6% during the forecast period, according to their latest market research report.

The advances in modified bitumen is one of the major trends being witnessed in the global modified bitumen market 2018-2022. Globally, governments are concentrating on reducing the consumption of petrochemical-based products and recycling waste to prevent landfilling. Emerging economies such as China, are focusing on introducing advances in modified bitumen. Renewable vegetable oil can be used as an enhancer for modified bitumen or as a bitumen in the near future.

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According to Technavio analysts, one of the key factors contributing to the growth of the global modified bitumen market is the global increase in road construction activities:

Global modified bitumen market: Global increase in road construction activities

The roadway construction segment is the largest consumer of modified bitumen and drives the global modified bitumen market. Development in the roadways sector, especially restoration, will increase the consumption of modified bitumen. Modified bitumen is extensively used in construction activities, especially road construction.

According to a senior analyst at Technavio for research on specialty chemicals, “The increase in automobile and freight movement has increased the demand for improved road network across the globe. This has presented a huge opportunity for the growth of materials such as modified bitumen in the construction industry.”

Global modified bitumen market: Segmentation analysis

The global modified bitumen market research report provides market segmentation by applications (road construction and building construction) and by region (the Americas, EMEA, and APAC). It also provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

The road construction segment held the largest market share in 2017, accounting for nearly 68% of the market. This application segment is expected to dominate the global market throughout the forecast period.

The Americas led the market in 2017 with nearly 48% of the market share. The market share occupied by this region is anticipated to increase during 2018-2022.

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

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market sizing
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

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Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200

Release Summary

Technavio analysts forecast the global modified bitumen market to grow at a CAGR of over 6% during 2018-2022, according to their latest report.


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200