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Overview
Modified Bitumen Market is
forecast to reach $8.95 billion by 2025, after growing at a CAGR of 5.59% during
2019-2025. With the steady increase in the movement of automobiles and
freight, demand for the enhanced road networks is growing significantly
around the globe. This has culminated in several countries building new
highways. As a result, there is a huge opportunity in the construction industry
to develop materials such as modified bitumen. During the forecast period, the
global increase in road construction will drive the growth of the modified
bitumen market.
Report Coverage
The “Modified Bitumen Market Report – Forecast (2020-2025)”, by IndustryARC,
covers an in-depth analysis of the following segments of the Modified Bitumen
Market.
Key Takeaways
- The current worldwide rates of construction and industrial growth not only create a higher demand for modified bitumen but also generate the scope for the use of modified bitumen in new areas.
- ARMA's guidelines are expected to enhance the ability of modified bitumen producers and users to build asphalt membranes roofing.
- One of the main trends for the bitumen market is the emergence of new bitumen refinery plants that will have a tremendous impact on market growth throughout the forecast period.
- For instance, Porner Ingenieurgesellschaft signed a deal with HPCL-Mittal Energy to build a new bitumen plant in India. The plant has been completely established and is expected to produce more than 65 % of India’s total production of bitumen.
Modifier Type - Segment Analysis
Styrene-Butadiene-Styrene (SBS) segment
held the largest share in the Modified Bitumen Market in 2018. Due to its
superior abrasion resistance and aging stability when combined with Styrene-Butadiene-Styrene
(SBS), bitumen roofing systems are widely used for waterproofing applications.
SBS bitumen has a remarkable life expectancy and is known for its simple
methods of installation when compared with synthetic rubber, which is the
perfect factors that fuel the global demand for waterproofing materials in the
construction industry.
Type - Segment Analysis
Road Construction segment held
the largest share in the Modified Bitumen Market at a CAGR of 7.72%. Modified
bitumen is commonly used as the organic binding material made from refined crude
oil by-products. Because it is reusable and a strong binder, modified bitumen
is used in road construction. There has been strong growth in the road
construction industry, mostly in Asia-Pacific and Europe, driving demand in the
modified bitumen market. The road construction market in Europe is expected to
grow strongly by 2019. Emerging countries in Asia-Pacific, such as India,
Japan, Indonesia, Vietnam, Philippines, etc., are expected to witness an
increase in bitumen demand during the forecast period due to numerous
government initiatives in the region to develop and improve public
infrastructure.
Application - Segment Analysis
Hot Asphalt Method has been the primary market for Modified Bitumen for many years. Hot asphalt is the most
widely used application method globally, as it provides firmness in the summer heat
and high penetration index which provides greater flexibility in colder
temperatures.
Geography - Segment Analysis
APAC dominated the Modified Bitumen Market share with more than 35%, followed by North America and Europe. Due to the booming construction industry and increased public infrastructure projects in the region, Asia-Pacific is projected to dominate the modified bitumen market globally during the forecast period. India allocated INR 21,453.42 of the INR 71,000 crore budget allocation to the Ministry of Highways for work under the road division in its 2018 budget. It includes expenditure on the development of National Highways, including projects relating to expressways, two-lane highways under the National Highways Development Project, six-lane crowded stretches of the Golden Quadrilateral, a special program for the development of road connectivity in affected areas of Naxal, the development of the Vijayawada-Ranchi road and the provision of last-mile connectivity. In February 2018, a loan of 9.4 billion YEN was signed by the Philippines and Japan to construct the third phase of a road project in Bulacan. The demand for bitumen is projected to be the highest in the Asia-Pacific region with such development projects.
Drivers – Modified Bitumen Market
- Increasing Road Construction and Repair Activities
In recent years, the massive increase in demand for
bitumen for road construction and roofing applications has powered the
global changed bitumen market. Demand across these sectors will also lead to
sustainable market returns in the coming years and drives vast developments in
terms of available product blends for use. Companies are expected to focus more
on functional production and improvement of long-term quality, aggregate
adhesion, and recyclability of most varieties of modified bitumen over the
forecast period.
Challenges – Modified Bitumen Market
- Fluctuations prices of Modified Bitumen materials
Due to changes in crude oil and petroleum prices,
fluctuations in the prices of raw materials may hamper the market growth in the
forthcoming evaluation period. In addition, excessive exploration activities
worldwide for crude oil may in the near future limit the growth of the modified
bitumen market.
Market
Landscape
Technology launches, acquisitions, and R&D
activities are key strategies adopted by players in the Modified Bitumen
market. In 2018, the market of Modified Bitumen has been consolidated by the
top five players accounting for xx% of the share. Major players in the Modified
Bitumen Market are Bitumina Group, Colas S.A., DowDuPont, ExxonMobil
Corporation, Firestone Building Products Company, Fosroc International Limited,
GAF Materials Corporation, Gazprom Neft PJSC, Global Road Technology, Hindustan
Colas Private Limited, Lagan Asphalt Group, Nynas AB, Orlen Asfalt Sp. Z.O.O.,
Rosneft, Royal Dutch Shell PLC, among others.
Acquisitions/Technology Launches
- In January 2017, Colas Austria together with CST (Cold laid materials) developed a high modified bituminous emulsion.
1.1 Definitions and Scope
2. Modified Bitumen Market - Executive summary
2.1 Market Revenue, Market Size and Key Trends by Company
2.2 Key Trends by type of Application
2.3 Key Trends segmented by Geography
3. Modified Bitumen Market
3.1 Comparative analysis
3.1.1 Product Benchmarking - Top 10 companies
3.1.2 Top 5 Financials Analysis
3.1.3 Market Value split by Top 10 companies
3.1.4 Patent Analysis - Top 10 companies
3.1.5 Pricing Analysis
4. Modified Bitumen Market - Startup companies Scenario Premium
4.1 Top 10 startup company Analysis by
4.1.1 Investment
4.1.2 Revenue
4.1.3 Market Shares
4.1.4 Market Size and Application Analysis
4.1.5 Venture Capital and Funding Scenario
5. Modified Bitumen Market - Industry Market Entry Scenario Premium
5.1 Regulatory Framework Overview
5.2 New Business and Ease of Doing business index
5.3 Case studies of successful ventures
5.4 Customer Analysis - Top 10 companies
6. Modified Bitumen Market Forces
6.1 Drivers
6.2 Constraints
6.3 Challenges
6.4 Porters five force model
6.4.1 Bargaining power of suppliers
6.4.2 Bargaining powers of customers
6.4.3 Threat of new entrants
6.4.4 Rivalry among existing players
6.4.5 Threat of substitutes
7. Modified Bitumen Market -Strategic analysis
7.1 Value chain analysis
7.2 Opportunities analysis
7.3 Product life cycle
7.4 Suppliers and distributors Market Share
8. Modified Bitumen Market - By Modifier Type (Market Size -$Million / $Billion)
8.1 Styrene-Butadiene-Styrene (SBS)
8.2 Atactic Polypropylene (APP)
8.3 Crumb Rubber
9. Modified Bitumen Market - By Type (Market Size -$Million / $Billion)
9.2 Roofing and Piping
10. Modified Bitumen - By Application Type (Market Size -$Million / $Billion)
10.1 Hot Asphalt Method
10.2 Cold Asphalt Method
10.3 Torch Applied Method
11. Modified Bitumen- By Geography (Market Size -$Million / $Billion)
11.1 Modified Bitumen Market - North America Segment Research
11.2 North America Market Research (Million / $Billion)
11.2.1 Segment type Size and Market Size Analysis
11.2.2 Revenue and Trends
11.2.3 Application Revenue and Trends by type of Application
11.2.4 Company Revenue and Product Analysis
11.2.5 North America Product type and Application Market Size
11.2.5.1 U.S
11.2.5.2 Canada
11.2.5.3 Mexico
11.2.5.4 Rest of North America
11.3 Modified Bitumen- South America Segment Research
11.4 South America Market Research (Market Size -$Million / $Billion)
11.4.1 Segment type Size and Market Size Analysis
11.4.2 Revenue and Trends
11.4.3 Application Revenue and Trends by type of Application
11.4.4 Company Revenue and Product Analysis
11.4.5 South America Product type and Application Market Size
11.4.5.1 Brazil
11.4.5.2 Venezuela
11.4.5.3 Argentina
11.4.5.4 Ecuador
11.4.5.5 Peru
11.4.5.6 Colombia
11.4.5.7 Costa Rica
11.4.5.8 Rest of South America
11.5 Modified Bitumen- Europe Segment Research
11.6 Europe Market Research (Market Size -$Million / $Billion)
11.6.1 Segment type Size and Market Size Analysis
11.6.2 Revenue and Trends
11.6.3 Application Revenue and Trends by type of Application
11.6.4 Company Revenue and Product Analysis
11.6.5 Europe Segment Product type and Application Market Size
11.6.5.1 U.K
11.6.5.2 Germany
11.6.5.3 Italy
11.6.5.4 France
11.6.5.5 Netherlands
11.6.5.6 Belgium
11.6.5.7 Denmark
11.6.5.8 Spain
11.6.5.9 Rest of Europe
11.7 Modified Bitumen - APAC Segment Research
11.8 APAC Market Research (Market Size -$Million / $Billion)
11.8.1 Segment type Size and Market Size Analysis
11.8.2 Revenue and Trends
11.8.3 Application Revenue and Trends by type of Application
11.8.4 Company Revenue and Product Analysis
11.8.5 APAC Segment - Product type and Application Market Size
11.8.5.1 China
11.8.5.2 Australia
11.8.5.3 Japan
11.8.5.4 South Korea
11.8.5.5 India
11.8.5.6 Taiwan
11.8.5.7 Malaysia
11.8.5.8 Hong Kong
11.8.5.9 Rest of APAC
11.9 Modified Bitumen - Middle East Segment and Africa Segment Research
11.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
11.10.1 Segment type Size and Market Size Analysis
11.10.2 Revenue and Trend Analysis
11.10.3 Application Revenue and Trends by type of Application
11.10.4 Company Revenue and Product Analysis
11.10.5 Middle East Segment Product type and Application Market Size
11.10.5.1 Israel
11.10.5.2 Saudi Arabia
11.10.5.3 UAE
11.10.6 Africa Segment Analysis
11.10.6.1 South Africa
11.10.6.2 Rest of Middle East & Africa
12. Modified Bitumen Market - Entropy
12.1 New product launches
12.2 M&A s, collaborations, JVs and partnerships
13. Modified Bitumen Market - Industry / Segment Competition landscape Premium
13.1 Market Share Analysis
13.1.1 Market Share by Country- Top companies
13.1.2 Market Share by Region- Top 10 companies
13.1.3 Market Share by type of Application - Top 10 companies
13.1.4 Market Share by type of Product / Product category- Top 10 companies
13.1.5 Market Share at a global level - Top 10 companies
13.1.6 Best Practises for companies
14. Modified Bitumen Market - Key Company List by Country Premium
15. Modified Bitumen Market Company Analysis
15.1 Market Share, Company Revenue, Products, M&A, Developments
15.2 Alma Petroli Spa
15.3 Bitumina Hi-Tech Pavement Binder Llc
15.4 Cepsa
15.5 Cola Sa
15.6 Eni Spa
15.7 Exxonmobil Corporation
15.8 Gazpromneft Pjsc
15.9 Grupa Lotos S A
15.10 Lagan Asphalt Group Ltd
15.11 Nynas Ab
15.12 Omv Aktiengesellschaft 9.12
15.13 Orlen Asfalt Sp Z O O
15.14 Puma Energy
15.15 Repsol
15.16 Rosneft
15.17 Royal Dutch Shell Plc
15.18 Total
15.19 Company 18
15.20 Company 19 & More
16.1 Abbreviations
16.2 Sources
17. Modified Bitumen Market - Methodology
17.1 Research Methodology
17.1.1 Company Expert Interviews
17.1.2 Industry Databases
17.1.3 Associations
17.1.4 Company News
17.1.5 Company Annual Reports
17.1.6 Application Trends
17.1.7 New Products and Product database
17.1.8 Company Transcripts
17.1.9 R&D Trends
17.1.10 Key Opinion Leaders Interviews
17.1.11 Supply and Demand Trends