Global Modified Bitumen Market Size Study by End-User (Road Construction, Building Construction, Others), by Application (Hot Asphalt Method, Cold Asphalt Method, Torch Applied Method) and Regional Forecasts 2022-2032

Description

Global Modified Bitumen Market is valued at approximately USD 13.17 billion in 2023, is expected to grow with a healthy growth rate of more than 4.36% over the forecast period 2024-2032. Modified bitumen, a robust roofing material, is an enhanced version of traditional asphalt, created by blending asphalt with polymerized rubber or plastic and reinforcing it with fiberglass or polyester fabric. This innovative formulation results in a more durable, flexible, and weather-resistant material, making it an ideal choice for flat or low-slope commercial roofs and road construction. The market's growth is driven by the increasing global road construction activities, the unique properties of modified bitumen, and the booming real estate sector, which together significantly contribute to market expansion.

The surge in global road construction projects is a key factor driving the market's growth. As the demand for improved road infrastructure rises, particularly with the increasing number of automobiles and freight movements, modified bitumen is extensively used in these construction activities due to its superior performance characteristics. Furthermore, significant investments in transport and highway infrastructure projects globally are expected to boost road construction activities, thereby propelling the demand for modified bitumen.

However, the market faces challenges related to the environmental impact of bitumen production. The extraction and processing of bitumen involve techniques that can have severe environmental consequences, such as high levels of water contamination and emissions during refining. These environmental concerns pose significant challenges to the market's growth. Despite these challenges, the market is expected to grow, driven by ongoing technological advancements and the increasing demand for sustainable construction materials.

The key regions considered for the global Modified Bitumen Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is a dominating region in the Modified Bitumen Market in terms of revenue. The market growth in the region is being attributed to factors including robust infrastructure, extensive road networks, and a strong focus on maintaining and upgrading existing roads. The region's emphasis on building durable and long-lasting infrastructure, coupled with stringent quality standards, is propelling the demand for high-performance modified bitumen solutions. Whereas, the market in Asia Pacific is anticipated to grow at the fastest rate over the forecast period fueled by rapid urbanization, robust infrastructure development, and increasing construction activities. The region's focus on affordable housing and commercial building projects, coupled with the need for durable and weather-resistant roofing solutions, is fueling the demand for modified bitumen. Additionally, government initiatives aimed at improving infrastructure are contributing to market growth.

Major market players included in this report are:

BASF SE
Breedon Group plc
Colas SA
Compagnie de Saint Gobain
Dow Chemical Co.
Exxon Mobil Corp.
Fosroc International Ltd.
GAF Materials LLC
Holcim Ltd.
Jiangsu Baoli International Investment Co. Ltd.
Nynas AB
Polski Koncern Naftowy ORLEN SA
Repsol SA
Rosneft Oil Co.
Shell plc

The detailed segments and sub-segment of the market are explained below:

By End-User:

Road Construction
Building Construction
Others

By Application:

Hot Asphalt Method
Cold Asphalt Method
Torch Applied Method

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Middle East & Africa
Saudi Arabia
South Africa
RoMEA

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of the geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of the competitive structure of the market.
Demand side and supply side analysis of the market.

Chapter 1. Global Modified Bitumen Market Executive Summary

1.1. Global Modified Bitumen Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By End-User
- 1.3.2. By Application
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Modified Bitumen Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Modified Bitumen Market Dynamics

3.1. Market Drivers
- 3.1.1. Booming Road Construction Sector
- 3.1.2. Expansion of Real Estate Sector
3.2. Market Challenges
- 3.2.1. Environmental Impact of Bitumen Production
- 3.2.2. Sourcing and Adoption of Sustainable Materials
3.3. Market Opportunities
- 3.3.1. Technological Advancements in Bitumen Production
- 3.3.2. Rising Investments in Infrastructure Projects

Chapter 4. Global Modified Bitumen Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Modified Bitumen Market Size & Forecasts by End-User (2022-2032)

5.1. Segment Dashboard
5.2. Global Modified Bitumen Market: End-User Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Road Construction
- 5.2.2. Building Construction
- 5.2.3. Others

Chapter 6. Global Modified Bitumen Market Size & Forecasts by Application (2022-2032)

6.1. Segment Dashboard
6.2. Global Modified Bitumen Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. Hot Asphalt Method
- 6.2.2. Cold Asphalt Method
- 6.2.3. Torch Applied Method

Chapter 7. Global Modified Bitumen Market Size & Forecasts by Region (2022-2032)

7.1. North America Modified Bitumen Market
- 7.1.1. U.S. Modified Bitumen Market
  - 7.1.1.1. End-User breakdown size & forecasts, 2022-2032
  - 7.1.1.2. Application breakdown size & forecasts, 2022-2032
- 7.1.2. Canada Modified Bitumen Market
7.2. Europe Modified Bitumen Market
- 7.2.1. U.K. Modified Bitumen Market
- 7.2.2. Germany Modified Bitumen Market
- 7.2.3. France Modified Bitumen Market
- 7.2.4. Spain Modified Bitumen Market
- 7.2.5. Italy Modified Bitumen Market
- 7.2.6. Rest of Europe Modified Bitumen Market
7.3. Asia-Pacific Modified Bitumen Market
- 7.3.1. China Modified Bitumen Market
- 7.3.2. India Modified Bitumen Market
- 7.3.3. Japan Modified Bitumen Market
- 7.3.4. Australia Modified Bitumen Market
- 7.3.5. South Korea Modified Bitumen Market
- 7.3.6. Rest of Asia Pacific Modified Bitumen Market
7.4. Latin America Modified Bitumen Market
- 7.4.1. Brazil Modified Bitumen Market
- 7.4.2. Mexico Modified Bitumen Market
- 7.4.3. Rest of Latin America Modified Bitumen Market
7.5. Middle East & Africa Modified Bitumen Market
- 7.5.1. Saudi Arabia Modified Bitumen Market
- 7.5.2. South Africa Modified Bitumen Market
- 7.5.3. Rest of Middle East & Africa Modified Bitumen Market

Chapter 8. Competitive Intelligence

8.1. Key Company SWOT Analysis
8.2. Top Market Strategies
8.3. Company Profiles
- 8.3.1. BASF SE
  - 8.3.1.1. Key Information
  - 8.3.1.2. Overview
  - 8.3.1.3. Financial (Subject to Data Availability)
  - 8.3.1.4. Product Summary
  - 8.3.1.5. Market Strategies
- 8.3.2. Breedon Group plc
- 8.3.3. Colas SA
- 8.3.4. Compagnie de Saint Gobain
- 8.3.5. Dow Chemical Co.
- 8.3.6. Exxon Mobil Corp.
- 8.3.7. Fosroc International Ltd.
- 8.3.8. GAF Materials LLC
- 8.3.9. Holcim Ltd.
- 8.3.10. Jiangsu Baoli International Investment Co. Ltd.
- 8.3.11. Nynas AB
- 8.3.12. Polski Koncern Naftowy ORLEN SA
- 8.3.13 Repsol SA
- 8.3.14. Rosneft Oil Co.
- 8.3.15. Shell plc

Chapter 9. Research Process

9.1. Research Process
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
9.2. Research Attributes