개질 아스팔트 시장 기회, 성장 촉진요인, 산업 동향 분석, 예측(2025-2034년)

The Global Modified Bitumen Market was valued at USD 27 billion in 2024 and is estimated to grow at a CAGR of 4.6% to reach USD 41.9 billion by 2034. The demand for enhanced bitumen formulations is steadily rising as the construction sector worldwide shifts focus toward high-performance, long-lasting materials for both roofing and paving. The increasing necessity for roads and infrastructure that can withstand harsh environmental conditions has fueled the adoption of modified binders with improved resilience and durability. A growing emphasis on climate adaptability has also prompted the use of bitumen variants that offer better resistance to thermal fluctuations, cracking, and oxidation. Industry operators are increasingly selecting polymer-modified alternatives to meet the performance requirements of high-traffic areas and challenging weather zones. In addition, growing awareness around sustainable infrastructure development is motivating manufacturers to produce materials that align with environmental standards and reduce the carbon impact of construction activities.

Governments in many parts of the world are pursuing ambitious infrastructure goals, prompting refiners and bitumen producers to expand their capacity for high-performance grades. Material choices in public and private sector projects are increasingly guided by climate-conscious engineering standards and lifecycle cost assessments. Modified bitumen's capacity to retain performance under extreme conditions has made it a preferred option for projects demanding long-term value and lower maintenance. Innovations in binder chemistry have contributed to the development of polymer formulations that exhibit improved elasticity, superior temperature stability, and higher UV resistance. These characteristics extend the life of pavements and roofing systems and contribute to the overall cost-efficiency of infrastructure investments. As a result, the material is becoming integral to long-term transportation and urban development plans, supported by rising investment in modern, sustainable construction practices.

The market's growth is also supported by stringent regulatory shifts aimed at reducing emissions and promoting circularity in construction inputs. Modified bitumen blends incorporating eco-conscious materials-such as recycled rubber or low-emission polymers-are gaining traction as governments enforce green building certifications and encourage climate-resilient urbanization. Polymer-modified variants are especially prominent, with demand surging for options that balance performance with sustainability goals. Research efforts continue to focus on blending compatibility, low-temperature paving solutions, and carbon-reducing additives, all of which reflect the growing influence of environmental considerations on material selection. In this evolving landscape, manufacturers are responding by reengineering formulations that are both high performing and eco-friendly, allowing them to cater to a broader range of infrastructure needs while complying with sustainability frameworks.

Among the various modifiers used in the market, Styrene-Butadiene-Styrene (SBS) continues to dominate due to its ability to enhance elasticity, fatigue resistance, and temperature tolerance. These properties make SBS-modified binders particularly suitable for demanding environments with frequent temperature changes or heavy vehicular load. SBS modifications significantly improve surface durability by reducing deformation and cracking, ultimately extending the service life of roads and roofing systems. Its mechanical performance makes it a preferred choice in both new construction and rehabilitation projects, which helps explain its strong presence across diverse regional markets.

Modified bitumen is segmented by application into road construction and paving, roofing, waterproofing and sealing, and industrial and specialty uses. Roofing applications accounted for 41.4% of the global market share in 2024, driven by increasing demand for weather-resistant and energy-efficient building materials. The use of SBS and Atactic Polypropylene (APP) in roofing membranes enhances flexibility and resistance to UV degradation, making them ideal for modern urban buildings. The steady rise in commercial and residential construction, especially in regions undergoing rapid urbanization, has supported the shift toward these advanced materials in roofing systems. Enhanced insulation properties and compliance with stricter building codes have made modified roofing membranes increasingly popular in both developed and developing economies.

Manufacturing techniques also influence product quality and adaptability. The batch process remains widely used for producing polymer-modified bitumen, particularly for customized volumes or formulations where specific performance criteria-such as viscosity or elasticity-must be met. This method allows producers to respond to varying regional requirements and specialty project demands with more flexibility. It is especially beneficial for R&D applications or lower-volume projects where formulation adjustments are necessary.

Asia Pacific continues to hold a leading position in the global modified bitumen market, driven by robust construction activity, growing investments in transportation, and rising urban expansion. Countries across the region are investing heavily in infrastructure upgrades and new development, driving consistent demand for performance-modified surfacing materials. The market's upward momentum in the region is reinforced by government-backed initiatives and a growing number of large-scale transport and housing projects, all of which rely on high-quality, resilient inputs.

Key players in the global market include Shell Global, TotalEnergies SE, ExxonMobil Corporation, Nynas AB, and Kraton Corporation. These companies maintain a strong presence through a wide-ranging portfolio of SBS, APP, and hybrid-modified products designed for varying environmental and traffic conditions. Their expertise in product formulation, technical support, and supply reliability positions them as preferred suppliers for large infrastructure and industrial projects. These firms are also leading the shift toward sustainability by developing bio-based modifiers, recycled content compatibility, and next-generation binders aimed at reducing environmental impact. Through ongoing R&D and a focus on low-carbon innovations, these companies continue to shape the future of modified bitumen technologies while meeting global demand for durable, climate-resilient materials.

Table of Contents

Chapter 1 Methodology & Scope

• 1.1 Market scope and definition
• 1.2 Research design
  • 1.2.1 Research approach
  • 1.2.2 Data collection methods
• 1.3 Data mining sources
  • 1.3.1 Global
  • 1.3.2 Regional/Country
• 1.4 Base estimates and calculations
  • 1.4.1 Base year calculation
  • 1.4.2 Key trends for market estimation
• 1.5 Primary research and validation
  • 1.5.1 Primary sources
• 1.6 Forecast model
• 1.7 Research assumptions and limitations

Chapter 2 Executive Summary

• 2.1 Industry 360⁰ synopsis
• 2.2 Key market trends
  • 2.2.1 Regional
  • 2.2.2 Polymer modified type
  • 2.2.3 Application
  • 2.2.4 End use industry
• 2.3 TAM Analysis, 2025-2034
• 2.4 CXO perspectives: Strategic imperatives
  • 2.4.1 Executive decision points
  • 2.4.2 Critical success factors
• 2.5 Future Outlook and Strategic Recommendations

Chapter 3 Industry Insights

• 3.1 Industry ecosystem analysis
  • 3.1.1 Supplier Landscape
  • 3.1.2 Profit Margin
  • 3.1.3 Value addition at each stage
  • 3.1.4 Factor affecting the value chain
  • 3.1.5 Disruptions
• 3.2 Industry impact forces
  • 3.2.1 Growth drivers
    • 3.2.1.1 Infrastructure development and urbanization growth
    • 3.2.1.2 Climate resilience and extreme weather adaptation
    • 3.2.1.3 Sustainability mandates and environmental regulations
    • 3.2.1.4 Performance enhancement and lifecycle cost optimization
  • 3.2.2 Industry pitfalls and challenges
    • 3.2.2.1 High initial costs and economic barriers (60-70% premium)
    • 3.2.2.2 Storage stability and handling complexities
    • 3.2.2.3 Limited skilled installation workforce
    • 3.2.2.4 Raw material price volatility and supply chain dependencies
  • 3.2.3 Market opportunities
    • 3.2.3.1 Emerging markets and infrastructure investment programs
    • 3.2.3.2 Bio-based and recycled polymer integration
    • 3.2.3.3 Smart infrastructure and IoT integration
    • 3.2.3.4 Disaster-resilient construction requirements
• 3.3 Growth potential analysis
• 3.4 Regulatory landscape
  • 3.4.1 North America
  • 3.4.2 Europe
  • 3.4.3 Asia Pacific
  • 3.4.4 Latin America
  • 3.4.5 Middle East & Africa
• 3.5 Porter's analysis
• 3.6 PESTEL analysis
  • 3.6.1 Technology and Innovation Landscape
  • 3.6.2 Current technological trends
  • 3.6.3 Emerging technologies
• 3.7 Price trends
  • 3.7.1 By region
  • 3.7.2 By product
• 3.8 Future market trends
• 3.9 Technology and Innovation Landscape
  • 3.9.1 Current technological trends
  • 3.9.2 Emerging technologies
• 3.10 Patent Landscape
• 3.11 Trade statistics (HS code) (Note: the trade statistics will be provided for key countries only)
  • 3.11.1 Major importing countries
  • 3.11.2 Major exporting countries
• 3.12 Sustainability and Environmental Aspects
  • 3.12.1 Sustainable Practices
  • 3.12.2 Waste Reduction Strategies
  • 3.12.3 Energy Efficiency in Production
  • 3.12.4 Eco-friendly Initiatives
• 3.13 Carbon Footprint Considerations

Chapter 4 Competitive Landscape, 2024

• 4.1 Introduction
• 4.2 Company market share analysis
  • 4.2.1 By region
    • 4.2.1.1 North America
    • 4.2.1.2 Europe
    • 4.2.1.3 Asia Pacific
    • 4.2.1.4 LATAM
    • 4.2.1.5 MEA
• 4.3 Company matrix analysis
• 4.4 Competitive analysis of major market players
• 4.5 Competitive positioning matrix
• 4.6 Key developments
  • 4.6.1 Mergers & acquisitions
  • 4.6.2 Partnerships & collaborations
  • 4.6.3 New Product Launches
  • 4.6.4 Expansion Plans

Chapter 5 Market Estimates and Forecast, By Polymer Modifier Type, 2021 - 2034 (USD Billion) (Kilo Tons)

• 5.1 Key trends
• 5.2 Styrene-butadiene-styrene (SBS) modified bitumen
  • 5.2.1 SBS polymer grades and specifications
• 5.3 Atactic polypropylene (APP) modified bitumen
• 5.4 Ethylene vinyl acetate (EVA) modified bitumen
• 5.5 Thermoplastic elastomers (TPE) and other modifiers
• 5.6 Bio-based and recycled polymer Modifiers
• 5.7 Hybrid and multi-polymer systems
  • 5.7.1 SBS-APP combination products
  • 5.7.2 Polymer-rubber hybrid modifications

Chapter 6 Market Estimates and Forecast, By Application, 2021 - 2034 (USD Billion) (Kilo Tons)

• 6.1 Key trends
• 6.2 Roofing applications
  • 6.2.1 Low-slope and flat roofing systems
    • 6.2.1.1 Commercial and industrial building applications
    • 6.2.1.2 Multi-ply system configurations and performance
  • 6.2.2 Steep-slope roofing applications
    • 6.2.2.1 Residential roofing
    • 6.2.2.2 Underlayment and ice dam protection
    • 6.2.2.3 Shingle and tile integration systems
• 6.3 Road construction and paving
  • 6.3.1 Highway and interstate applications
  • 6.3.2 Urban and municipal road systems
    • 6.3.2.1 City street and arterial applications
    • 6.3.2.2 Intersection and high-stress zone solutions
    • 6.3.2.3 Maintenance and rehabilitation projects
  • 6.3.3 Airport and industrial paving
• 6.4 Waterproofing and sealing applications
  • 6.4.1 Below-grade waterproofing systems
    • 6.4.1.1 Foundation and basement applications
    • 6.4.1.2 Tunnel and underground structure protection
    • 6.4.1.3 Bridge deck and infrastructure waterproofing
  • 6.4.2 Above-grade waterproofing solutions
    • 6.4.2.1 Plaza deck and balcony systems
    • 6.4.2.2 Green roof and garden applications
    • 6.4.2.3 Parking structure and podium deck protection
• 6.5 Industrial and specialty applications
  • 6.5.1 Adhesives and sealants
  • 6.5.2 Coatings and protective systems
  • 6.5.3 Pipe coating and corrosion protection

Chapter 7 Market Estimates and Forecast, By End Use Industry, 2021 - 2034 (USD Billion) (Kilo Tons)

• 7.1 Key trends
• 7.2 Construction and Building Industry
  • 7.2.1 Residential Construction Market
    • 7.2.1.1 Single-Family and Multi-Family Housing
    • 7.2.1.2 Renovation and Retrofit Projects
    • 7.2.1.3 Energy Efficiency and Green Building Requirements
  • 7.2.2 Commercial Construction Sector
    • 7.2.2.1 Office Buildings and Retail Centers
    • 7.2.2.2 Healthcare and Educational Facilities
    • 7.2.2.3 Hospitality and Entertainment Venues
  • 7.2.3 Industrial Construction Applications
    • 7.2.3.1 Manufacturing and Processing Facilities
    • 7.2.3.2 Warehousing and Distribution Centers
    • 7.2.3.3 Data Centers and Technology Infrastructure
• 7.3 Transportation Infrastructure
  • 7.3.1 Highway and Road Infrastructure
    • 7.3.1.1 Interstate Highway System Maintenance
    • 7.3.1.2 State and Local Road Networks
    • 7.3.1.3 Bridge and Overpass Construction
  • 7.3.2 Airport Infrastructure Development
    • 7.3.2.1 Runway and Terminal Expansion Projects
    • 7.3.2.2 Cargo and Freight Facility Development
  • 7.3.3 Port and Marine Infrastructure
    • 7.3.3.1 Container Terminal and Wharf Construction
    • 7.3.3.2 Coastal Protection and Seawall Projects
• 7.4 Energy and Utilities Sector
  • 7.4.1 Power Generation Facilities
    • 7.4.1.1 Solar Farm and Wind Energy Infrastructure
    • 7.4.1.2 Traditional Power Plant Maintenance
  • 7.4.2 Oil and Gas Infrastructure
    • 7.4.2.1 Refinery and Processing Facility Applications
    • 7.4.2.2 Pipeline and Storage Tank Protection
  • 7.4.3 Water and Wastewater Treatment
    • 7.4.3.1 Treatment Plant Infrastructure
    • 7.4.3.2 Reservoir and Storage Facility Waterproofing
• 7.5 Government and Public Infrastructure
  • 7.5.1 Federal and State Government Projects
  • 7.5.2 Municipal and Local Government Applications
  • 7.5.3 Military and Defense Infrastructure
• 7.6 Private and Specialty Markets
  • 7.6.1 Sports and Recreation Facilities
  • 7.6.2 Agricultural and Rural Infrastructure
  • 7.6.3 Mining and Extractive Industries

Chapter 8 Market Estimates and Forecast, By Region, 2021 - 2034 (USD Billion) (Kilo Tons)

• 8.1 Key trends
• 8.2 North America
  • 8.2.1 U.S.
  • 8.2.2 Canada
• 8.3 Europe
  • 8.3.1 Germany
  • 8.3.2 UK
  • 8.3.3 France
  • 8.3.4 Spain
  • 8.3.5 Italy
  • 8.3.6 Rest of Europe
• 8.4 Asia Pacific
  • 8.4.1 China
  • 8.4.2 India
  • 8.4.3 Japan
  • 8.4.4 Australia
  • 8.4.5 South Korea
  • 8.4.6 Rest of Asia Pacific
• 8.5 Latin America
  • 8.5.1 Brazil
  • 8.5.2 Mexico
  • 8.5.3 Rest of Latin America
• 8.6 Middle East and Africa
  • 8.6.1 Saudi Arabia
  • 8.6.2 South Africa
  • 8.6.3 UAE
  • 8.6.4 Rest of Middle East and Africa

Chapter 9 Company Profiles

• 9.1 CertainTeed Corporation
• 9.2 Colas Group
• 9.3 Dynasol Group
• 9.4 Ergon Inc.
• 9.5 ExxonMobil Corporation
• 9.6 Johns Manville
• 9.7 Kraton Corporation
• 9.8 LG Chem Ltd
• 9.9 MBTechnology
• 9.10 Nynas AB
• 9.11 Polyglass U.S.A., Inc
• 9.12 Shell Global
• 9.13 Siplast (Icopal Group)
• 9.14 TotalEnergies SE
• 9.15 Versalis S.p.A