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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- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
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- Market positioning of vendors
- Competitive scenario
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