The global polymer modified bitumen (PMB) market size is estimated to be worth US$14.85 bln by 2025, driven by the rise in the construction and infrastructural activities across the globe, as per Adroit Market Research. The increasing use of bitumen as waterproofing, ceiling-binding and adhesives in wood industry are some of the primary factors driving the industry.
The rising need to replace polyvinyl chloride (PVC) with eco-friendly materials such as thermoplastic elastomers in construction and automotive industries is another factor driving the growth of this segment and thereby, impacting the polymer modified bitumen market size. Based on application, roofing is projected to be the fastest growing application in the global polymer modified bitumen (PMB) market with a valuation of US$2.81 bln by 2025. The property of PMB to withstand extreme weather conditions and provide extra strength, high cohesiveness and resistance to fatigue & deformations are some of the factors making polymer modified bitumen the most preferred material for roofing.
Polymer modified bitumen (PMB) is a mixture of bitumen and polymers in which the polymer helps in changing the viscoelastic behavior of the bitumen making it more suitable for a range of stresses. Polymer modified binders (PMB) are a major advancement in bituminous binder technology as these materials better satisfy the demands of increasing traffic volumes and loads on road networks. The addition of polymer to regular bitumen makes it more elastomeric with additional elasticity. However, low ageing resistance and poor storage stability are some of the factors that can hamper the global polymer modified bitumen (PMB) market growth.
Middle East & Africa PMB demand is anticipated to exceed 1.90 mln tons by 2025. The increasing road construction and infrastructural activities in the region are expected to majorly drive the growth of polymer modified bitumen (PMB) market. Increasing government investments in infrastructures such as roads, public transport infrastructure, power generation, health care, schools, hospitality and housing owing to the population growth and plans to diversify are the factors which are expected to impact the polymer modified bitumen market size.