Global Modified Bitumen Market (2021 to 2026) – Growth, Trends, COVID-19 Impact, and Forecasts – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Modified Bitumen Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.
The market for Modified Bitumen is expected to expand at a CAGR of more than 4% during the forecast period. The major factor driving the market is the increase in road construction and repair activities across the globe.
- Exxon Mobil Corporation
- Firestone Building Products Company, LLC
- Fosroc International Limited
- Gazprom Neft PJSC
- Breedon Group plc
- Nynas AB
- ORLEN Asfalt Sp z o.o.
- Rosneft Deutschland GmbH
- Royal Dutch Shell PLC
- Saint-Gobain Weber
- Sika AG
- SOPREMA S.A.S
- Texsa Systems slu
Key Market Trends
Hot Asphalt Method to Dominate the Market
- Hot Asphalt Method dominated the market with a share of more than 45% followed by Cold Asphalt method.
- Asphalt cement is heated aggregate, combined, and mixed with the aggregate at an HMA facility. The resulting Hot Mix Asphalt is loaded into trucks for transport to the paving site.
- The trucks dump the Hot Mix Asphalt into hoppers located at the front of paving machines. The asphalt is placed, and then compressed using a heavy roller, which is driven over the bitumen. Traffic is generally allowed on the roadway as soon as the pavement has cooled.
- Hot-Mix Asphalt type is classified into three types: Dense grade mix, Stone matrix asphalt, Open graded mixes.
- Dense grade mix is the most common type of mix used. It can provide impressive impermeability, which allows water to run away from the surface. The name originates from the size of the aggregate used in the mixture. It can further be divided into fine grade and coarse grade. This type of asphalt is ideal for all type of traffic conditions.
- Thus rising road repair activities in various parts of the world is adding the demand for the hot asphalt method.
Asia-Pacific to Dominate the Market
- Increasing road construction and repair activities in Asia-pacific is boosting the demand for modified bitumen market.
- China, India, and Japan are the three key countries propelling the demand for modified bitumen in the region
- For instance, in China, the government planned to increase infrastructure investment, in order to ensure the stability of its sagging economy. According to the report represented in the annual session of the National People’s Congress in March 2019, CNY 1.8 trillion of investment was planned for road construction and waterways projects.
- In India, investments of USD 31,650 billion were proposed for 99 cities under their smart cities plan. Around 100 smart cities and 500 cities are likely to invite investments worth INR 2 trillion in the next five years.
- Moreover, the Airports Authority of India (AAI) is planning city-side infrastructure development at 13 regional airports, with the collaboration of private investors, for building hotels, car parking, and other facilities to boost their non-aeronautical revenues. While the air traffic has been continuously increasing, the government is working toward increasing the number of airports in the country.
- Such developments in various other nations are in turn boosting the demand for modified bitumen in road construction applications.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Increasing Road Construction and Repair Activities
4.1.2 Other Drivers
4.3 Industry Value Chain Analysis
4.4 Porter’s Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Modifier Type
5.2 Application Method
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/xyj7u8
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