| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Historical Data Period | 2019 - 2023 |
| CAGR | 4.00% |
| Fastest Growing Market | Europe |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Modified Bitumen Market Analysis by Mordor Intelligence
The Modified Bitumen Market is expected to register a CAGR of greater than 4% during the forecast period.
- On the flipside, the risk of fire during installation due to unskilled labors is expected to hinder the growth of the market particularly in developing economies.
- North America is dominated the market and is expected to expand at a healthy rate during the forecast period.
Global Modified Bitumen Market Trends and Insights
Hot Asphalt Method to Dominate the Market
- Hot Asphalt Method dominated the market with a share of more than 45% followed by Cold Asphalt method.
- Asphalt cement is heated aggregate, combined, and mixed with the aggregate at an HMA facility. The resulting Hot Mix Asphalt is loaded into trucks for transport to the paving site.
- The trucks dump the Hot Mix Asphalt into hoppers located at the front of paving machines. The asphalt is placed, and then compressed using a heavy roller, which is driven over the bitumen. Traffic is generally allowed on the roadway as soon as the pavement has cooled.
- Hot-Mix Asphalt type is classified into three types: Dense grade mix, Stone matrix asphalt, Open graded mixes.
- Dense grade mix is the most common type of mix used. It can provide impressive impermeability, which allows water to run away from the surface. The name originates from the size of the aggregate used n the mixture. It can further be divided into fine grade and coarse grade. This type of asphalt is ideal for all type of traffic conditions.
- Thus rising road repair activities in various parts of the world is adding the demand for the hot asphalt method.
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Asia-Pacific to Dominate the Market
- Increasing road construction and repair activities in Asia-pacific is boosting the demand for modified bitumen market.
- China, India, and Japan are the three key countries propelling the demand for modified bitumen in the region
- For instance, in China, the government planned to increase infrastructure investment, in order to ensure the stability of its sagging economy. According to the report represented in the annual session of the National People's Congress in March 2019, CNY 1.8 trillion of investment was planned for road construction and waterways projects.
- In India, investments of USD 31,650 billion were proposed for 99 cities under their smart cities plan. Around 100 smart cities and 500 cities are likely to invite investments worth INR 2 trillion in the next five years.
- Moreover, the Airports Authority of India (AAI) is planning city-side infrastructure development at 13 regional airports, with the collaboration of private investors, for building hotels, car parking, and other facilities to boost their non-aeronautical revenues. While the air traffic has been continuously increasing, the government is working toward increasing the number of airports in the country.
- Such developments in various other nations are in turn boosting the demand for modified bitumen in road construction applications.
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Competitive Landscape
The modified bitumen market studied is fragmented, with the top five companies accounting for around 30% share of the market. The key players include Rosneft Deutschland GmbH, Total, Royal Dutch Shell PLC, and Gazprom Neft PJSC, among others.
Modified Bitumen Industry Leaders
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Repsol
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Royal Dutch Shell PLC
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Total S.A.
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Gazprom Neft PJSC
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ROSNEFT
- *Disclaimer: Major Players sorted in no particular order
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Global Modified Bitumen Market Report Scope
The modified bitumen market report includes:
Modifier Type
| Styrene-Butadiene-Styrene (SBS) |
| Atactic Polypropylene (APP) |
| Crumb Rubber |
| Natural Rubber |
| Other Modifier Types |
Application Method
| Hot Asphalt Method |
| Cold Asphalt Method |
| Torch Applied Method |
Application
| Road Construction |
| Roofing and Piping |
| Other Applications |
Geography
| Asia-Pacific | China |
| India | |
| Japan | |
| South Korea | |
| Rest of Asia-Pacific | |
| North America | United States |
| Canada | |
| Rest of North America | |
| Europe | Germany |
| United Kingdom | |
| France | |
| Italy | |
| Rest of Europe | |
| South America | Brazil |
| Argentina | |
| Rest of South America | |
| Middle-East and Africa | Saudi Arabia |
| South Africa | |
| Rest of Middle-East and Africa |
| Modifier Type | Styrene-Butadiene-Styrene (SBS) | |
| Atactic Polypropylene (APP) | ||
| Crumb Rubber | ||
| Natural Rubber | ||
| Other Modifier Types | ||
| Application Method | Hot Asphalt Method | |
| Cold Asphalt Method | ||
| Torch Applied Method | ||
| Application | Road Construction | |
| Roofing and Piping | ||
| Other Applications | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| North America | United States | |
| Canada | ||
| Rest of North America | ||
| Europe | Germany | |
| United Kingdom | ||
| France | ||
| Italy | ||
| Rest of Europe | ||
| South America | Brazil | |
| Argentina | ||
| Rest of South America | ||
| Middle-East and Africa | Saudi Arabia | |
| South Africa | ||
| Rest of Middle-East and Africa | ||
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Key Questions Answered in the Report
What is the current Modified Bitumen Market size?
The Modified Bitumen Market is projected to register a CAGR of greater than 4% during the forecast period (2025-2030)
Who are the key players in Modified Bitumen Market?
Repsol, Royal Dutch Shell PLC, Total S.A., Gazprom Neft PJSC and ROSNEFT are the major companies operating in the Modified Bitumen Market.
Which is the fastest growing region in Modified Bitumen Market?
Europe is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Modified Bitumen Market?
In 2025, the North America accounts for the largest market share in Modified Bitumen Market.
What years does this Modified Bitumen Market cover?
The report covers the Modified Bitumen Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Modified Bitumen Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Modified Bitumen Market Report
Statistics for the 2025 Modified Bitumen market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Modified Bitumen analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
