Modified Bitumen Market Projected to Exhibit Growth at a CAGR of 12670 by 2029

Modified Bitumen has high elasticity and thermal stability. An asphalt concrete surface based on Modified Bitumen is highly resistant to the formation of ruts, withstands high traffic loads, and is crack-resistant at low temperatures. There are three main components in Modified Bitumen production. Firstly, conventional asphalt is used as a base. Secondly, there is a plasticizer which gives the bitumen plasticity and improves dilution of the polymer. And the third component is the polymer itself. The process used to produce Modified Bitumen involves mixing these three components using a specific production process.

LPI (LP Information)' newest research report, the “Modified Bitumen Industry Forecast” looks at past sales and reviews total world Modified Bitumen sales in 2022, providing a comprehensive analysis by region and market sector of projected Modified Bitumen sales for 2023 through 2029. With Modified Bitumen sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Modified Bitumen industry.

This Insight Report provides a comprehensive analysis of the global Modified Bitumen landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Modified Bitumen portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Modified Bitumen market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Modified Bitumen and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Modified Bitumen.

The global Modified Bitumen market size is projected to grow from US$ 10220 million in 2022 to US$ 12670 million in 2029; it is expected to grow at a CAGR of 12670 from 2023 to 2029.

Global Modified Bitumen key players include Total, Shell, SK, ExxonMobil, TIPCO ASPHALT, etc. Global top five manufacturers hold a share over 15%.

Asia Pacific is the largest market, with a share over 55%, followed by North America and Europe, both have a share over 30% percent. In terms of product, SBS Modified Bitumen is the largest segment, with a share over 60%. And in terms of application, the largest application is Road Construction & Paving, followed by Roofing.

This report presents a comprehensive overview, market shares, and growth opportunities of Modified Bitumen market by product type, application, key manufacturers and key regions and countries.

Top Manufactures in Global Modified Bitumen Includes:

    Total

    Shell

    SK

    ExxonMobil

    TIPCO ASPHALT

    Colas

    Nynas

    Gazprom Neft PJSC

    Lagan Asphalt Group

    Baolirus

    Guochuang Hi-tech

    Xi'an Guolin Industry

    Nichireki

Market Segment by Type, covers:

    SBS Modified Bitumen

    Plastomer Modified Bitumen

    Crumb Rubber Modified Bitumen

    Others

Market Segment by Applications, can be divided into:

    Road Construction & Paving

    Roofing

    Others

Key Questions Addressed in this Report

What is the 10-year outlook for the global Modified Bitumen market?

What factors are driving Modified Bitumen market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Modified Bitumen market opportunities vary by end market size?

How does Modified Bitumen break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

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https://www.lpinformationdata.com/reports/457084/modified-bitumen-2029

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