RnR Market Research recently published a report which says that the global modified bitumen market will grow at CAGR of 6.5% from 2016 to 2021 and will reach USD 19.29 billion.
Modified bitumen is produced by blending normal bitumen with suitable polymers and other additives to improve the inherent properties of bitumen. The major modifiers used are crumb rubber, natural rubber, atactic polypropylene (APP), and styrene-butadiene-styrene (SBS).
The growth of the market is attributed to the growing construction industry in emerging nations, cost-effectiveness of modified bitumen, and increasing demand for modified bitumen in regions such as Asia-Pacific and the Middle East & Africa. The material is largely used in road construction. In addition, rising awareness about the benefits of modified bitumen is also fueling the demand. Bitumen modified with crumb rubber increases the lifetime, flexibility, and strength of the road which acts as a major driver for the use of modified bitumen.
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