Demand for polymer modified bitumen (PMB) was highest for road construction. Infrastructure development, particularly in emerging economies including China and India, is expected to drive demand. The market is expected to witness rise owing to its usage in roofing applications at a CAGR of 7.0% to 2022. PMB exhibits properties such as water repellence and flexibility which make them useful for waterproofing in roofing applications. PMB membranes were initially used on low slope roofs and are now extensively being used in green roofs on commercial and residential buildings. Roofing market is anticipated to witness significant gains in Asia Pacific owing to the expansion of the housing & commercial building sector over the projected period. Thermoplastic elastomers were widely used a bitumen modifiers accounting for over 60% of the volume share. Thermoplastic bitumen modifiers include ethylene-vinyl acetate (EVA), alpha-polyolefins (APO), atactic polypropylene (APP), and isotactic polypropylene (IPP). Styrene-butadiene-styrene (SBS) and styrene-butadiene rubber (SBR) are used as elastomeric materials. Improved ageing resistance, low temperature flexibility and resistance to permanent deformation by the addition of thermoplastic elastomers, particularly SBS, has resulted in driving growth. North America polymer modified bitumen market accounted for over 35.0% of the global volume share. Rapid growth of the green roofing industry in the region is expected to play a critical role in growth of the market. Moreover, growing demand for low smoke bitumen with improved resistance to climatic changes & UV is expected to drive demand for PMB over the forecast period. Polymer modified membranes were first introduced in Europe in the 1960s, where they were used as two ply application methods for roofing. However, in the past few years, the product is being extensively used for road construction. Demand for the product in road construction in Europe exceeded 1,820.0 kilo tons. Infrastructure development in Europe is creating new opportunities for PMB. The global polymer modified bitumen market is competitive with major companies involved in continuous product innovation and R&D activities. Key players include Total Oil India Pvt. Ltd., Benzene International Pte Ltd, Lagan Asphalt Group, Nynas AB, Royal Dutch Shell PLC, ExxonMobil, Gazprom NEFT and Sika AG. SOURCE:https://www.grandviewresearch.com/industry-analysis/polymer-modified-bitumen-market