Bitumen Modifier Industry - Regional Synopsis
APAC Market Statistics
Asia Pacific in bitumen modifier market is estimated to account for significant revenue share by 2037, attributing majorly to the increasing infrastructure sector in countries such as China and India. For instance, the expansion of the infrastructure sector is related to the increasing urbanization in the area. This has led to increase in demand for bitumen modifier in the infrastructure sector of the region as it can aid in enhancing the functionality and durability of building materials, and makes them more appropriate for a variety of applications. Besides this, waterproofing is a crucial component of infrastructure building since the Asia Pacific region experiences regular and intense rains. To increase the durability and water resistance of waterproofing membranes for buildings such as basements, tunnels, and retaining walls, bitumen modifier is frequently employed in construction anticipating growth. Rising government initiatives in the infrastructure sector is also anticipated to boost the market growth . According to recent data, the Indian government now places the most emphasis on the infrastructure sector. As of 2023 India aims to invest over USD 1 trillion in infrastructure.
North American Market Forecast
The North American bitumen modifier market is estimated to hold the second largest, by the end of 2037. owing to the increasing government investment in infrastructure. For instance, in recent years, several governments in North America have increased their investments in road and bridge infrastructure, which has increased the demand for bitumen modifier. The building of roads, highways, and other forms of pavement frequently uses bitumen modifier to increase its flexibility, durability, and resistance to ageing and weathering, and making it more appropriate for use in high-traffic areas and inclement weather. In addition, aging water and wastewater infrastructure is a serious problem in the region, which is also anticipated to boost the market growth.
Europe Market Forecast
Europe is projected to hold a majority of the share by the end of 2037, due to the increasing road construction and repair activities. For instance, many of Europe's roads, bridges, and tunnels are aging and in need of repair or replacement. Further, in order to build overlays for worn-out bridge decks, bitumen modifier might be utilized, it can also be used to restore old roofing systems and increase the roofing material's water resistance and longevity.
