Polymer Modified Bitumen (PMB) Market: Overview
Polymer modified bitumen (PMB) is a binder consisting of polymeric material that is dispersed in bitumen with enhanced binder performance for various applications. Polymer modified bitumen (PMB) can also be blended by using bitumen and crumb rubber. Polymer modified bitumen (PMB) is used to improve the performance of binders on heavily distressed or trafficked pavements, often in adverse climatic conditions. Polymer modified bitumen (PMB) imparts various improvements when used in construction activities. These include increase in elasticity or resilience, increase in cohesion, low temperature susceptibility, and improvement in tenacity once a bond has been established. In terms of sprayed sealing, performance improvements include lower risk of bleeding, improved crack resistance, better aggregate retention, and less deformation at high temperatures. These improvements are the basis of the usage of polymer modified bitumen (PMB) in strain alleviating membranes (SAMs), strain alleviating membrane interlayers (SAMIs), and high-stress seals (HSSs).
Polymer Modified Bitumen (PMB) Market: Trends & Demands
Polymer modified bitumen (PMB) is employed extensively in road construction due to the rise in economic development in developing economies. This is encouraging companies to invest more in research and development of new additives. In turn, this is anticipated to drive the polymer modified bitumen (PMB) market in the near future. Furthermore, rise in demand for more durable pavement materials in various applications is estimated to boost the demand for polymer modified bitumen (PMB) during the forecast period.
Companies operating in the global polymer modified bitumen (PMB) market strive to explore new and better ways to manufacture polymer modified bitumen (PMB). Development of new processes to produce polymer modified bitumen (PMB) is estimated to propel the market in the near future. However, volatility in prices of raw materials is projected to hamper the polymer modified bitumen (PMB) market during the forecast period.
Polymer Modified Bitumen (PMB) Market: Key Segments
In terms of product, the polymer modified bitumen (PMB) market can be bifurcated into thermoplastic elastomers and plastomers. The thermoplastic elastomers segment is projected to expand at a rapid pace in the next few years due to the rise in need for high strength pavements in developing economies such as China, India, and Brazil.
Based on application, the polymer modified bitumen (PMB) market can be divided into road construction and roof construction. The road construction segment is likely to expand at a significant pace during the forecast period due to the consistent usage of polymer modified bitumen (PMB) in highways across the globe.
Polymer Modified Bitumen (PMB) Market: Regional Outlook
In terms of region, the global polymer modified bitumen (PMB) market can be segregated into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Europe and North America are anticipated to constitute major share of the global polymer modified bitumen (PMB) market during the forecast period. The polymer modified bitumen (PMB) market in Asia Pacific is likely to expand at a rapid pace due to the rise in per capita income in developing economies such as China and India. Increase in per capita income is boosting the spending power of consumers. This, in turn, is estimated to propel the demand for high quality products in Asia Pacific. Additionally, growth in usage of polymer modified bitumen (PMB) in making highways is fueling the PMB market in the region. Middle East & Africa is expected to be a lucrative region of the global polymer modified bitumen (PMB) market during the forecast period, led by the rise in demand for polymer modified bitumen (PMB) in the high load bearing roads in the region.
Polymer Modified Bitumen (PMB) Market: Key Players
Prominent players operating in the global polymer modified bitumen (PMB) market include Total S.A., Nynas AB, Benzene International Pte. Ltd., and Hindustan Colas Private Limited (HINCOL). These players engage in research & development activities, strategic alliances, and mergers & acquisitions to gain market share.
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