Market Size & Forecast
According to the latest report from Reed Intelligence, the global Polymer Modified Bitumen (PMB) market is projected to grow at a CAGR of approximately 4.9% between 2023 and 2031.
Key Highlights
Largest region (2024/2023 baseline): Asia Pacific leads the global PMB market in terms of share.
Fastest growing region: The forecast indicates strong growth across regions; the combined data suggests emerging dynamics especially in under-penetrated geographies.
Largest segmentation (by type): Within product type segmentation, thermoplastic elastomers dominate the market.
Fastest-growing segmentation (by type or application): The market data suggests that certain polymer types and applications are set to grow strongly, although the base report stresses a diverse product mix including thermoplastic polymers, thermosetting polymers and others.
Market Dynamics
The growth of the Polymer Modified Bitumen (PMB) market is primarily driven by accelerating global infrastructure development, including road construction, urban expansion, and sustainable building needs. The rising demand for durable, high-performance road surfaces and roofing/waterproofing solutions has elevated the appeal of PMB over conventional bitumen.
However, the market also faces potential restraints such as economic uncertainties, supply-chain disruptions, and regulatory hurdles, which may slow down adoption in some regions. On the flip side, opportunities arise from growing interest in “smart infrastructure”, applications in cold regions, and the development of self-healing and sustainable bitumen solutions opening room for innovation and expansion into underserved markets.
Top Market Players
Key global players identified in the report include:
Total S.A.
Shell
SK
Exxon Mobil
TIPCO ASPHALT
Colas
Nynas
Gazprom Neft PJSC
Lagan Asphalt Group
Baolirus
Nichireki
Guochuang Hi Tech
Xi'an Guolin Industry
Tiki Tar Industries
Ooms Avenhorn Holding India
AMT TECHNO
Maruti Group
Veekay Industries
Segmentation (with Regional Coverage)
By Type: Thermoplastic Elastomers; Thermoplastic Polymers; Thermosetting Polymers; Others
By Application: Road Construction; Roofing & Piping; Others
By Region: North America, Europe, Asia Pacific, LAMEA (Latin America, Middle East & Africa)
About the Report
Global Polymer Modified Bitumen (PMB) Market Size, Share and Trends Analysis by Type, by Application, by Region and Forecasts, 2023-2031 offers a comprehensive overview of the PMB market’s current landscape and forecast trajectory. It includes detailed segmental analysis, regional breakdowns, competitive landscape, market dynamics (drivers, restraints, opportunities), and strategic insights.
