PUNE, India, January 24, 2017 /PRNewswire/ --
The report "Modified Bitumen Market by Modifier Type (SBS, APP, Crumb Rubber, Natural Rubber), Application Method (Hot Asphalt, Cold Asphalt, Torch-Applied), End-Use Industry (Road Construction, Building Construction), and Region - Global Forecast to 2021", published by MarketsandMarkets, the global market was valued at USD 13.22 Billion in 2015 and is projected to reach USD 19.29 Billion by 2021, at a CAGR of 6.5% from 2016 to 2021.
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Browse114 market data Tables and61 Figures spread through211 Pages and in-depth TOC on"Modified Bitumen Market"
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The use of modified bitumen has increased in road and building construction in Asia-Pacific and the Middle East & Africa regions, owing to the growing awareness about the benefits of modified bitumen such as low maintenance cost and efficiency.
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SBS is estimated to be the largest modifier type segment of the market in terms of volume and value
The Styrene-Butadiene-Styrene (SBS) segment is estimated to be the largest segment of the Modified Bitumen Market, by modifier type, in terms of value and volume. SBS is a premier modifier used for road construction in places with heavy traffic to reduce low temperature thermal stress cracking, abrasion, deformation, flushing, and to provide high tensile strength. SBS modified bitumen and Atactic Polypropylene (APP) modified bitumen is commonly applied via hot asphalt method.
Road Construction projected to growth at the highest growth rate during the forecast period
Modified bitumen has been widely used in the road construction, where high material performance is required. Modified bitumen are used for road construction which includes tunnel liners, bridges & flyovers, highways, and airport runways.
Modified Bitumen market in Asia-Pacific is projected to grow at the highest CAGR during the forecast period
Asia-Pacific is the largest market for modified bitumen, in terms of volume, followed by Europe and North America. China, U.S., Germany, Canada and Mexico are the largest consumers of modified bitumen. End-use industries, such as road and building construction represent the bulk of the demand for modified bitumen in the Asia-Pacific region. Rising awareness about the benefits of modified bitumen has increased the importance as well as demand of modified bitumen in Asia-Pacific countries, such as China, Japan, and India.
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Key players in the modified bitumen market
The key players in the global modified bitumen market include Sika AG (Switzerland), Nynas AB (Sweden), Total S.A. (France), Royal Dutch Shell Plc (Netherlands), and Colas S.A. (France).
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