Polymer Modified Bitumen Market will grow at 4% CAGR to cross $14bn by 2024: Global Market Insights, Inc.

Polymer Modified Bitumen (PMB) Market Size By Product (Thermoplastic Elastomers [SBS, SBR, SIS, SEBS, EPDT, IIR, Natural Rubber], Thermoplastic Polymers [EVA, EMA, EBA, APP, PE, PP], Thermosetting Polymers [Epoxy Resin, Polyurethane Resin, Acrylic Resin, Phenolic Resin]), By Application (Road Construction, Roofing & Piping, Emulsions [Paving, Waterproofing]), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Ma)

SELLBYVILLE, Del., Nov. 22, 2017 /PRNewswire-iReach/ -- Polymer Modified Bitumen Market is growing exponentially subject to the shifting focus of the infrastructural developers toward the adoption of PMB material to enhance the performance properties of road and pavement constructions. Superior binding capability and excellent cohesive characteristic of the material make it applicable for residential and commercial construction applications, which, in turn, will stimulate polymer modified bitumen industry size. Increasing per capita income and rising spending capability is also certain to propel the product demand over the years ahead. As per the report by Global Market Insights, Inc., "Worldwide Polymer Modified Bitumen (PMB) Market having had a revenue of USD 9.5 billion in 2016, is slated to witness an annual growth rate of above 4% over the coming seven years."

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Environmental awareness is pushing the use of green cement, eco-friendly construction materials and chemicals. Developing regions of the world have a great amount of construction activities and infrastructural development, which in turn, is propelling the regional polymer modified bitumen market. Developing economies such as China and India have huge construction activities owing to huge and rapidly increasing population which is demanding better and superior homes. These factors drive the PMB market on a large scale in the developing as well as the developed countries.

Volatility in raw material prices due to changing crude oil prices may hinder the polymer modified bitumen market growth in the coming years. Petroleum is the primary raw material used in the manufacture of polymers in polymer modified bitumen. Fluctuating crude oil resources around the world, large scale extraction and refining of oil and demand & supply ratio are some of the chief factors affecting the industry.

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To prevent the hazardous impact of non-degradable products on the environment and increase the reusability of the material, manufacturers are giving preference to thermoplastic materials, which are chemically inert. Polymer modified bitumen industry size from thermoplastic elastomers will collect a sizable revenue by 2024, owing to the escalating use of this product pertaining to lower costs and superior quality. Shifting trends toward the development of eco-friendly residential buildings to reduce carbon footprints in the environment are expected to enhance the product demand. Apart from this, PMB material is extensively used to control the leakages of ceilings and walls, owing to its cohesion and waterproofing characteristics, which will stimulate PMB market share noticeably.

Industry giants are investing heavily in the R&D activities to explore alternative raw materials to manufacture PMB. IKA group, Tiki Tar Industries, AMT Techno, Space Petro Energy Pvt. Limited, Offshore Petrochem Pvt Ltd., Gulf Petrochem, MBD Industries, Marini S.P.A., L. N. Petro Chem Private Limited., MBD Industries, Ratnamani Industries, RoadStar, Allied Bitumen Complex, Bitumat Co. Ltd., Ooms Avenhorn Holding India Pvt Ltd., Allied Bitumen Complex, Veekay Industries, The Richmond Group, Royal Dutch Shell, Maruti Group, and Bitumat Co. Ltd., are the prominent players in polymer modified bitumen market.

Browse key industry insights spread across 200 pages with 387 market data tables & 15 figures & charts from the report, "Polymer Modified Bitumen (PMB) Market Share & Forecast, 2017 – 2024" in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/polymer-modified-bitumen-PMB-market

Browse Related Reports:

Bitumen Market Forecast, 2016 – 2024

Bitumen Market size generated USD 75 billion in 2015 and is forecast to witness 4.2% CAGR by 2024. Increasing government initiatives towards road development across the globe is analyzed to be the key factor propelling the global bitumen market size. The product is extensively used as a binder in the road construction. The U.S. road and highway construction sector generated revenue roughly around USD 100 billion in 2015 and will continue to grow at a steady rate till 2024.

https://www.gminsights.com/industry-analysis/bitumen-market

(TPE) Thermoplastic Elastomers Market Forecast, 2016 – 2023

(TPE) Thermoplastic Elastomers Market size was over USD 12 billion in 2015, with an estimated CAGR over 6%. Increasing consumer spending in automotive, medical, footwear and construction industry, along with regulatory compliances for sustainable products will drive the thermoplastic elastomers market growth. Efficient chemical and physical benefits including thermoplastic and elastomeric properties in structural applications will enhance the thermoplastic elastomers industry.

https://www.gminsights.com/industry-analysis/thermoplastic-elastomers-tpe-market-report

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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SOURCE Global Market Insights, Inc.



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