Impact Assessment of COVID-19 Outbreak on Polymer Modified Bitumen (PMB) Market
Polymer Modified Bitumen (PMB) Market: Overview
Polymer modified bitumen (PMB) is a binder consisting of polymeric material that is dispersed in bitumen with enhanced binder performance for various applications. Polymer modified bitumen (PMB) can also be blended by using bitumen and crumb rubber. Polymer modified bitumen (PMB) is used to improve the performance of binders on heavily distressed or trafficked pavements, often in adverse climatic conditions. Polymer modified bitumen (PMB) imparts various improvements when used in construction activities. These include increase in elasticity or resilience, increase in cohesion, low temperature susceptibility, and improvement in tenacity once a bond has been established. In terms of sprayed sealing, performance improvements include lower risk of bleeding, improved crack resistance, better aggregate retention, and less deformation at high temperatures. These improvements are the basis of the usage of polymer modified bitumen (PMB) in strain alleviating membranes (SAMs), strain alleviating membrane interlayers (SAMIs), and high-stress seals (HSSs).
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Polymer Modified Bitumen (PMB) Market: Trends & Demands
Polymer modified bitumen (PMB) is employed extensively in road construction due to the rise in economic development in developing economies. This is encouraging companies to invest more in research and development of new additives. In turn, this is anticipated to drive the polymer modified bitumen (PMB) market in the near future. Furthermore, rise in demand for more durable pavement materials in various applications is estimated to boost the demand for polymer modified bitumen (PMB) during the forecast period.
Companies operating in the global polymer modified bitumen (PMB) market strive to explore new and better ways to manufacture polymer modified bitumen (PMB). Development of new processes to produce polymer modified bitumen (PMB) is estimated to propel the market in the near future. However, volatility in prices of raw materials is projected to hamper the polymer modified bitumen (PMB) market during the forecast period.
Polymer Modified Bitumen (PMB) Market: Key Segments
In terms of product, the polymer modified bitumen (PMB) market can be bifurcated into thermoplastic elastomers and plastomers. The thermoplastic elastomers segment is projected to expand at a rapid pace in the next few years due to the rise in need for high strength pavements in developing economies such as China, India, and Brazil.
Based on application, the polymer modified bitumen (PMB) market can be divided into road construction and roof construction. The road construction segment is likely to expand at a significant pace during the forecast period due to the consistent usage of polymer modified bitumen (PMB) in highways across the globe.
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Polymer Modified Bitumen (PMB) Market: Regional Outlook
In terms of region, the global polymer modified bitumen (PMB) market can be segregated into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Europe and North America are anticipated to constitute major share of the global polymer modified bitumen (PMB) market during the forecast period. The polymer modified bitumen (PMB) market in Asia Pacific is likely to expand at a rapid pace due to the rise in per capita income in developing economies such as China and India. Increase in per capita income is boosting the spending power of consumers. This, in turn, is estimated to propel the demand for high quality products in Asia Pacific. Additionally, growth in usage of polymer modified bitumen (PMB) in making highways is fueling the PMB market in the region. Middle East & Africa is expected to be a lucrative region of the global polymer modified bitumen (PMB) market during the forecast period, led by the rise in demand for polymer modified bitumen (PMB) in the high load bearing roads in the region.
Polymer Modified Bitumen (PMB) Market: Key Players
Prominent players operating in the global polymer modified bitumen (PMB) market include Total S.A., Nynas AB, Benzene International Pte. Ltd., and Hindustan Colas Private Limited (HINCOL). These players engage in research & development activities, strategic alliances, and mergers & acquisitions to gain market share.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
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Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
