Modified Bitumen Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2021 - 2026

Report Code: CMR 49698 Report Format: PDF + Excel

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.The report covers Modified Bitumen Market size by type and Applications, Modified Bitumen Market share by top 5 companies and also the market share by start-ups during the forecast period.

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. Modified Bitumen Market - Overview
        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 / $Billion)
        8.1 Styrene-Butadiene-Styrene (SBS)
        8.2 Atactic Polypropylene (APP)
        8.3 Crumb Rubber
        8.4 Natural Rubber
        8.5 Others
9. Modified Bitumen Market - By Type (Market Size -$Million / $Billion)
        9.1 Road Construction
        9.2 Roofing and Piping
10. Modified Bitumen - By Application Type (Market Size -$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
*Financials would be provided on a best efforts basis for private companies
16. Modified Bitumen Market - Appendix
        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