Dallas, TX -- (SBWIRE) -- 01/29/2019 -- Adroit Market Research published a study titled, "Global Polymer Modified Bitumen (PMB) Market Size 2017 By Type (Thermoplastic Elastomers and Plastomers), By Application (Road Construction, Roofing and Others), by Region and Forecast 2018 to 2025".

The report provides a detailed analysis of global polymer modified bitumen (PMB) market based on drivers, restraints and future opportunities that are expected to influence the market dynamics during the forecast period. Additional tools such as Porter's five forces analysis and value chain analysis are included to give a holistic market view. The report also assesses the impact of current and emerging trends on the global polymer modified bitumen market size. Furthermore, the report provides an overview of polymer modified bitumen industry in the key regions.

The global polymer modified bitumen (PMB) market size is estimated to be worth USD 14.85 billion by 2025, driven by the rise in the construction and infrastructural activities across the globe. The increasing use of bitumen as waterproofing, ceiling-binding and adhesives in wood industry are some of the primary factors driving the global polymer modified bitumen industry.

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Based on the type, thermoplastic elastomers demand is projected to exceed 15 million tons by 2025. Thermoplastic elastomers which exhibit superior stiffness, elastic response, resistance to heat and reduced temperature sensitivity when added to bitumen, makes it compatible for use in varied climatic condition. This type of PMB can also be continually cooled, melted, deformed without affecting the product quality and can be recycled easily. Furthermore, thermoplastic elastomers also have a broader range of properties such as high strength, high impact resistance, shrink resistance and superior aesthetic finishes compared to the traditional thermoplastics.

SBS is the most widely used as bitumen modifiers owing to features such as high strength, elasticity, heat resistance, adhesion, and improved low-temperature. The rising need to replace polyvinyl chloride (PVC) with eco-friendly materials such as thermoplastic elastomers in construction and automotive industries is another factor driving the growth of this segment and thereby, impacting the polymer modified bitumen market size.

One of the recent trends in the global polymer modified bitumen (PMB) market is the emergence of bio-based bitumen. In June 2018, Aston University scientists developed a new way of converting organic waste, such as paper, decomposed food, and plastic, into a material suitable for road and pavement laying. The usage of this material is expected to reduce the 7.7 million tons of biodegradable municipal waste that is sent to landfills every year. This material could pave a way for a greener and a cheaper alternative as compared to extracting bitumen from oil sands and crude oil, thereby, impacting the overall polymer modified bitumen market size during the forecast period.

Based on application, roofing is projected to be the fastest growing application in the global polymer modified bitumen (PMB) market with a valuation of USD 2.81 billion by 2025. The property of PMB to withstand extreme weather conditions and provide extra strength, high cohesiveness and resistance to fatigue & deformations are some of the factors making polymer modified bitumen the most preferred material for roofing. Advancements in technology leading to the development of new materials have paved the way for innovative roofing systems which makes polymer modified bitumen one of the most common materials used for membrane roofs typically found on most commercial buildings, as well as in increasing number of residential properties, too.

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Middle East & Africa PMB demand is anticipated to exceed 1.90 million tons by 2025. The increasing road construction and infrastructural activities in the region are expected to majorly drive the growth of polymer modified bitumen (PMB) market. Increasing government investments in infrastructures such as roads, public transport infrastructure, power generation, health care, schools, hospitality and housing owing to the population growth and plans to diversify are the factors which are expected to impact the polymer modified bitumen market size. For instance, in 2016, the Saudi Pan Kingdom for Trading & Contracting (SAPAC), Daewoo Engineering & Construction and Hanwha Engineering & Construction won a USD 20 billion housing project to construct 100,000 houses in Saudi Arabia. Such initiatives are expected to escalate the demand of polymer modified bitumen in the region in the coming years.

The competitive landscape of the global polymer modified bitumen (PMB) market is fragmented with a large number of players with global and regional presence. Total S.A., Nynas AB, Royal Dutch Shell, ExxonMobil, Indian Oil Corporation, Lagan Asphalt Group, GULF PETROCHEM, BITUMINA GROUP, Hindustan Colas Private Limited, and Benzene International Pte Ltd. are the key participants of the market.

Key segments of the Global Polymer Modified Bitumen (PMB) market

Type Overview, 2015-2025 (Kilo Tons) (USD Million)

Thermoplastic elastomers
Plastomers

Application Overview, 2015-2025 (Kilo Tons) (USD Million)

Road Construction
Roofing
Others

Regional Overview, 2015-2025 (Kilo Tons) (USD Million)

North America
U.S.
Canada
Europe
France
Germany
UK
Italy
Rest of Europe
Asia Pacific
India
Japan
China
Rest of APAC
Latin America
Middle East and Africa

Key Players analysed in the report include

Total S.A.
Nynas AB
Royal Dutch Shell
ExxonMobil
Indian Oil Corporation
Others

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