Polymer modified bitumen (PMB) is a binding agent made up of polymeric material diffused in bitumen that has improved binder efficiency for a variety of applications. Bitumen and crumb rubber can also be combined to create polymer modified bitumen (PMB). PMB is used to enhance the performance of binders on heavily battered or heavily trafficked pavements that are regularly exposed to harsh weather conditions. The rapidly growing demand from the construction sector is projected to augment the sales growth of the global polymer modified bitumen market during the forecast period set between 2021 and 2031.
The polymer modified bitumen market is categorized on the basis of product, application, and region. In terms of product, the market is grouped into plastomers, elastomers, and thermoplastic. Based on application, the market is split into roofing, road construction, and others.
The research report on the polymer modified bitumen market offers a qualitative and quantitative analysis of the market and factors boosting or challenging its growth. This includes drivers, restraints, challenges, and future growth opportunities. List of the manufacturers operating in this market and their efforts to obtain a significant position in the market competition in terms of innovations and new product launches is also discussed in details. It also highlights on the recent developments and innovations that helped the market grow in terms of revenue generation. The impact of the novel COVID19 pandemic is also discussed in the report. For more information on the report, refer to the company website.
The nature of competition for this market is consolidated attributed to the presence of a handful of players. Leading players of the polymer modified bitumen market are engaging in joint ventures and merger strategies to gain an upper hand in the overall market competition. Others are investing in introduction of innovative products to attract more revenues to the market. The key objective is to ensure a significant position in the market competition and earn handsome revenues for the overall market.
Some of the key players of the global Polymer Modified Bitumen market include:
The increasing demand for polymer modified bitumen or PMB is projected to serve as a notable growth driver boosting the polymer modified bitumen market. Besides this, the increasing rate of infrastructural development and the rise in building construction activities are projected to help create revenue generation opportunities for the global polymer modified bitumen market in the forecast period. Besides this, the increasing numbers of housing activities in the emerging nations is further expected to help this market continue to attract high revenues in the near future.
Geographically, this market is widespread into the regions of Latin America, Europe, North America, and the Middle East and Africa. These regions are further categorized as per the nations bringing business. North America emerged as the largest revenue generator for the Polymer Modified Bitumen market on account of the increasing rate of growth of the green roofing activities. Additionally, the increasing demand for high resistance to climatic changes and UV protection will also add boost to the growth of this market in the forecast period. The Europe market will also witness notable growth in the coming years on account of the increasing rate of infrastructural development and rise in road construction activities.