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Polymer Modified Bitumen Market Key Players | Industry Overview and Supply Chain | Forecast To 2022
1 Nov 2018 –聽The Global Polymer Modified Bitumen Market size is expected to value at USD 13.34 billion by 2022. The market is subject to witness a substantial growth due to the growing demand from various end-user industries such as building & construction industry and roofing industry, and increasing use as adhesive and coatings. Massive increase in infrastructural spending, particularly in developing economies across the globe such as India, China and Brazil are anticipated to fuel expansion over the next seven years.
Shifting trend towards polymer-modified bitumen over conventional form of bitumen for asphalt overlay due to its advanced set of properties and minimum maintenance cost are anticipated to foster the growth of polymer modified bitumen industry. Globally Josh Reynolds Youth Jersey , the polymer modified bitumen market is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the market. In addition, variation in changing climatic conditions coupled with heavy traffic hampers bitumen roads adversely, thus leading to cracks and rutting.
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Thus Gerald Everett Youth Jersey , increasing demand for polymer modified bitumen to comprehend such as factors are propelling market growth over the next seven years. Use of polymer-modified bitumen reduces the investment required for road maintenance every year. However, higher initial investment is one of the key challenges for market growth, in the recent years. Yet, polymer modified bitumen is highly cost-efficient Rob Havenstein Youth Jersey , thus positively affecting market growth over the next seven years.
The polymer modified bitumen industry is broadly categorized into two major segments based on the product type such as thermoplastic elastomers and plastomers. The thermoplastic elastomers is considered as one of the fastest growing segment in the polymer modified bitumen market with substantial revenue generation in the last few years. Growing popularity of the thermoplastic elastomers segment is attributed to the increasing use as elastomeric materials and superior properties such as improved ageing resistance, low temperature flexibility and resistance to permanent deformation. The plastomers segment has also witnessed substantial growth.
The polymer modified bitumen industry is divided by region as North America, Europe, Asia-Pacific Tyler Higbee Youth Jersey , Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in building & construction sector, substantial growth in green roofing industry, and existence of well-established manufacturing infrastructure in the region.
Asia-Pacific region is predicted to hold major market share in the polymer
modified bitumen market with massive growth in forecast period. Countries such
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