Latest News- Modified Bitumen Market: Road construction is expected to lead the End-user segment during 2025-2029

The Modified Bitumen Market is being driven by Global increase in road construction activities

The Modified Bitumen Market is expected to grow at a CAGR of 4.5% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 3131.9 million. In the realm of road construction and infrastructure development, the Modified Bitumen Market is witnessing a significant shift towards sustainability and waste reduction. This trend is driven by the reclamation of reclaimed bitumen-laid pavements, which involves the recovery of bitumen and aggregates from removed pavement materials. These materials are obtained during reconstruction or resurfacing activities and consist of valuable resources that can be repurposed instead of being disposed of in landfills. Governmental bodies and regulatory agencies are actively encouraging this practice by offering support to companies entering the market. For instance, the US Federal Highway Administration (FHWA) is a key proponent of pavement material recycling, promoting it as a means to conserve raw materials, protect the environment, and decrease the amount of waste. By embracing this approach, the Modified Bitumen Market is not only contributing to sustainability efforts but also positioning itself as a responsible and forward-thinking industry. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Road construction
  • Building construction
  • Others
• Application
  • Hot asphalt method
  • Cold asphalt method
  • Torch asphalt method
• Product Type
  • Polymer
  • Crumb rubber
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Global increase in road construction activities
• Superior properties of modified bitumen
• Surge in real estate sector activities

However, the market also witnesses some limitations, which are as follows:

• Volatility in raw material prices
• Adverse environmental impact of bitumen production
• Threat of potential substitutes

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Market Scope in Modified Bitumen Market Research Report

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Research Analysis Overview

The Modified Bitumen market encompasses various applications, including bitumen emulsion in roofing, asphalt shingles, synthetic underlayment for roofing, and reflective roof coatings. These products contribute to green building standards such as LEED certification, Energy Star, and green infrastructure. Cool roof solutions offer hail and impact resistance, stormwater management, and improved air quality. Roofing software and warranties facilitate insurance claims processing for storm damage and roof leaks. Safety considerations include workplace safety regulations (OSHA) and roofing safety practices. Green roof systems, including vegetative roofing and extensive/intensive options, promote circular economy principles, reduce carbon footprint, and offer stormwater management and renewable energy benefits.

Market Research Overview

The Modified Bitumen (MB) market is a significant segment of the global specialty chemicals industry, encompassing roofing membranes such as SBS modified bitumen, APP modified bitumen, and polymer-modified bitumen. Manufacturers of these high-value-additives contribute to the specialty chemicals market, which is projected to grow substantially due to the increasing demand for specialized adhesives and sealants. Mineral surfacing and granular surfacing are also integral components of MB roofing systems, further expanding the market's scope. The shift towards advanced and high-performance adhesives and sealants is a key growth driver for the global specialty chemicals market, including the MB sector, during the forecast period.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/