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Europe Modified Bitumen Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

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  • 120 Pages
  • April 2021
  • Region: Europe
  • Mordor Intelligence
  • ID: 4602284
The Europe modified bitumen market is estimated to witness a healthy growth, at an estimated CAGR of over 3.5%, over the forecast period. The major factor driving the market is the increase in road construction and repair activities in the European region. The growth in building renovations to increase energy efficiency and the compliance with the Paris Agreement are also likely to stimulate the market growth. On the flipside, the risk of fire during installation, due to unskilled labor, is expected to hinder the growth of the market, particularly in developing economies.
  • The European road construction market is expected to record robust growth, during the forecast period, as the strengthening economy may boost construction.
  • Innovative methods to produce crumbed-rubber-modified bitumen are likely to act as an opportunity in the future.
  • France dominated the market across Europe, due to the increasing demand from the construction industry.

Key Market Trends

Increasing Demand from Road Construction Activities
  • Modified bitumen concrete mixture has been an important construction material for roads, airport runways, taxiways, bicycle paths, etc.
  • Modifiers, such as binder modifiers and aggregate modifiers, are used to improve the performance of asphalt pavements, in terms of increased resistance to pavement distresses, such as thermal cracking, rutting, stripping etc., thereby prolonging the service life.
  • The demand for modified bitumen has been witnessing above-average growth. The demand for bitumen has a direct correlation with the level of ongoing road construction activities
  • The United Kingdom has major infrastructure projects in the construction industry, which involve the investments of USD 1.5 billion. The projects involve the development of a road to the East of England and freight route to the Port of Felixstowe.
  • Apart from the above-mentioned activities, other road expansion activities are also planned in the regions of France, Italy, and Nordic, among others.
  • These factors are expected to ensure that copious volumes of modified bitumen are used in pavement applications.

Germany to Dominate the Market in European Region
  • Germany had the largest market for modified bitumen in Europe, which is expected to increase during the forecast period. Germany has the largest construction industry in Europe.
  • Growing investments in infrastructural projects such as high-capacity transport infrastructure for passenger and freight transport, structural maintenance of the existing road, rail, and waterway networks, and revision in federal government energy policies to attract more private investment have increased the consumption of modified bitumen in the recent years.
  • Under the 2030 Federal Transport Infrastructure Plan (FTIP), the government has planned to invest EUR 260 billion between 2016 and 2030 for high capacity transport network of which the road mode accounts for 49.3 %, the rail mode accounts for 41.6 % and the waterway mode accounts for 9.1 % of funds. This planned investment in various infrastructural projects is estimated to increase the market for modified bitumen during the forecast period.
  • In addition, growing need for structural maintenance of federal trunk road infrastructure due to growing stresses & strains and increasing age of the road and bridge fabric, increase in investment to upgrade existing rail network, and rising necessity to replace physical structures on the federal waterways is expected to increase the demand for modified bitumen.
  • Furthermore, the growth is supported by lower interest rates, increase in real disposable incomes, and numerous investments by the European Union and the German Government. All the factors are estimated to boost the demand for modified bitumen in the country during the forecast period.

Competitive Landscape

The European modified bitumen market is fragmented, with top five players accounting for 30% of the market. The major companies include ROSNEFT, Royal Dutch Shell plc, Gazprom Neft PJSC, Total, and Repsol, among others.

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Table of Contents

1.1 Study Assumptions
1.2 Scope of the Study
4.1 Drivers
4.1.1 Increasing Road Construction and Repair Activities
4.1.2 Increasing Building Renovation and Remodeling
4.1.3 Superior Quality of Modified Bitumen over Normal Bitumen
4.2 Restraints
4.2.1 Occupation Health Hazards Regarding Asphalt
4.2.2 Risk of Fire during Installation
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5.1 Modifier Type
5.1.1 Styrene-butadiene-styrene (SBS)
5.1.2 Atactic Polypropylene (APP)
5.1.3 Crumb Rubber
5.1.4 Natural Rubber
5.1.5 Other Modifier Types
5.2 Application Method
5.2.1 Hot Asphalt
5.2.2 Cold Asphalt
5.2.3 Torch-applied
5.3 Application
5.3.1 Road Construction
5.3.2 Roofing & Piping
5.3.3 Other Applications
5.4 Geography
5.4.1 Germany
5.4.2 United Kingdom
5.4.3 Italy
5.4.4 France
5.4.5 Spain
5.4.6 Rest of Europe
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Alma Petroli S.p.a.
6.4.3 Cepsa
6.4.4 Colas SA
6.4.5 Eni SpA
6.4.6 Exxon Mobil Corporation
6.4.7 Gazprom Neft PJSC
6.4.9 Nynas AB
6.4.10 OMV Aktiengesellschaft
6.4.11 ORLEN Asfalt Sp ZOO
6.4.12 Puma
6.4.13 Repsol
6.4.14 ROSNEFT
6.4.15 Royal Dutch Shell plc
6.4.16 Total
7.1 Innovative Methods for the Production of Crumbed-rubber-modified Bitumen
7.2 Incorporation of Nanotechnology in Bitumen Modification

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Alma Petroli S.p.a.
  • Cepsa
  • Colas SA
  • Eni SpA
  • Exxon Mobil Corporation
  • Gazprom Neft PJSC
  • Nynas AB
  • OMV Aktiengesellschaft
  • ORLEN Asfalt Sp ZOO
  • Puma
  • Repsol
  • Royal Dutch Shell plc
  • Total