The global modified bitumen market to grow at a CAGR of 6.31% during the period 2017-2021.
The report, Global Modified Bitumen Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in market is self-adhered products. In the residential segment, self-adhered modified bitumen pads have shown a lingering trend in the pattern of consumption as an upgrade on roofing applications. They are also used for ice dam protection concerning shingle roofs. For waterproofing membranes, self-adhered products have several configurations such as base sheets and cap sheets. Self-adhered products offer ease of installation. They also offer a remedy to the problems of fire resistance.
A growing global concern is the depletion of asphalt and bitumen reserves, following continuous extraction of the naturally formed bitumen by the energy market. This scarcity of naturally formed bitumen resulted in an intense competition among vendors. Therefore, researches carried out on these lines would suggest the need to conserve bitumen reserves for sustainable development.
However, there is an increasing demand for bitumen principally for road construction, thereby accentuating the need for modifiers and bitumen derivatives such as modified bitumen to reduce the depletion of bitumen reserves and to cut cost. This factor is driving the global modified bitumen market as it aims at providing eco-friendly solutions for the global concern regarding the depletion of bitumen reserves.