개질 아스팔트 시장 보고서 : 동향, 예측 및 경쟁 분석(-2035년)

Modified Bitumen Market

The future of the global modified bitumen market looks promising with opportunities in the road construction and waterproofing & roofing markets. The global modified bitumen market is expected to reach an estimated $44.3 billion by 2035 from $30.8 billion in 2027 with a CAGR of 6.6% from 2027 to 2035. The major drivers for this market are the increasing demand for durable road materials, the rising investments in infrastructure projects, and the growing urbanization in emerging economies.

• Lucintel forecasts that, within the product category, polymer is expected to witness the highest growth over the forecast period due to the need for lightweight and strong polymer materials.
• Within the end use category, road construction is expected to witness higher growth over the forecast period due to rising infrastructure development and planning of modern highways
• In terms of regions, APAC is expected to witness the highest growth over the forecast period due to rapid industrialization and increasing government spending.

Emerging Trends in Modified Bitumen Market

The market for modified bitumen is changing from commodity roofing to systems with longer service life and lower maintenance while measuring the environmental impact. During the next few years, refurbishment, resilient infrastructure and building-energy rules will create opportunities for market growth. Suppliers will differentiate their offerings from competitors based on formulation, installation, technical support, and the use of recycled materials, rather than volume.

• Sustainability: January 2025 will see the continuation of whole-life carbon reduction in the European building policy while manufacturers start providing roofing membranes with post-consumer and production scrap. Manufactured in post-recycled content may reach up to 30% in some products. In the next 3-5 years, roofing systems specifications will include lower embodied carbon while striving to meet lower impact roofing systems.
• Digital Manufacturing: During 2025, the use of automated batch coating systems in roofing manufacturers will increase. The systems provide real time machine vision and logging resulting in decrease of thickness variation and reduction in waste. High tech manufacturing control systems will provide roofing membranes that offer consistency, confidence, and performance documented in high quality systems.
• Premiumization: During the forecast period, segment growth will be in Polymer-modified systems, reflective systems and high performance systems for long service life commercial roofing systems where service-life expectations exceed 20 years. Technology based systems will gain market share since asset owners are evaluating life cycle systems and roofing membranes.
• Automation: With labor shortages in roofing installation, self-adhered membranes, factory applied systems, and equipment that eliminate torching are increasing. Self adhered systems can decrease the number of required installation steps by up to 25%. Productivity based systems will continue to grow in the roofing market as installers deal with increasing schedule restrictions, improved safety, and rising labor costs.
• Regional Supply Diversification: Because of freight disruption, producers have begun regional sourcing and inventory strategies for asphalt, polymers, reinforcement, and packaging since 2025; the disruption has contributed to single region dependence. In the next five years, regional supply routes and capacity will become more relevant as roofing projects will not be able to tolerate long delays.

Annual growth is expected, driven primarily by reroofing, public works, and scheduled maintenance of buildings, rather than new building construction. Suppliers who develop innovative designs that require less installation will gain market share, along with suppliers who provide environmental data and proof of reliable regional supply. Price competition will continue in standard membranes; however, purchase specifications based on performance are beginning to shift towards lifecycle analysis and verified compliance.

Recent Developments in the Modified Bitumen Market

The modified bitumen market is anticipated to grow rapidly from 2025 to 2027. Infrastructure upgrades, improvements in building energy efficiency, and the replacement of buildings create a positive outlook for market growth. Increasing demand has led producers to increase capacity while formulators develop polymer modifications to enable lower temperature installation. Lowering installation temperature will contribute to reduced product cost and improved competition. Lowered competition will still revolve around the lifecycle cost, the supply of raw materials, and the final product's compliance with laws.

• "Capacity Expansion": In 2025, SOPREMA's investment in manufacturing in North America increased regional supply by adding 100,000 square feet of production (June 2025). This manufactures regional supply and reduces shipping distances, which is advantageous to constructor availability of membrane.
• "Product Technology Launch": In 2025, Polyglass made low temperature modified bitumen for improved application and lower heating requirements (March 2025). The benefits of these products for contractors are improved energy efficiency and productivity, especially for winter installations, and where worker availability limits roofing completion
• "Strategic Collaboration": In 2025, in April, asphalt producers and roofing manufacturers expanded collaboration on reclaimed asphalt material and improved supply chain. Higher quality and consistent supply of feedstock will ensure the success of roofing compromised of recycled content. Over the next five years, roofing with recycled content will be more cost effective.
• "Government Approval": The updated construction products regulations by the European Union continued implementation in 2025 and increased requirements for product documentation on performance and the environment (January 2025). Although compliance will increase testing costs, it has benefited suppliers that improved product documentation and are now able to supply building for public and institutional use.
• Major Contract: The US federal government awarded large contracts in 2025 to begin modernizing the country's infrastructure. These contracts will fund the development of new bridges and roadways worth several billions of dollars (May 2025). Modified bitumen will be used to waterproof these bridges and provide other forms of protection in the subgrade. However, the contracts specify implementations of only those products that have successfully demonstrated their durability.

The market will shift to greater regional resilience and performance that can be measured. Supply shortages will be addressed with new additions of capacity. Innovations in low-temperature products will reduce installation costs and emissions. Public procurement will increase requirements for recycled-content. Suppliers will be able to meet increasing customer demand if they can offer the polymer at a reasonable price and conduct the necessary product testing. Through 2027, sustained positioning for commodities will grow increasingly difficult.

Strategic Growth Opportunities in the Modified Bitumen Market

The reshaping of the modified bitumen market is well underway due to tighter durability standards, sustained spending on construction, and the integration of climate adaptation into procurement. Lucintel's market predictions suggest that the demand shift will happen between 2024 and 2026 towards performance, lifecycle value, regional manufacturing, and engineered solutions instead of just volume.

• High Performance Roofing Systems: With energy efficiency and longer replacement cycles, premium pricing is justified on polymer-modified bitumen membranes. In April 2025, the U.S. Department of Energy reported that commercial buildings account for approximately 40% of energy use in the U.S. Highly reflective roofing and other durable roofing systems should result in increased use of modified bitumen for the construction of warehouses, data centers, and institutional buildings over the next 3 to 5 years.
• Climate Resilient Roads: Specifications for road construction are requesting greater durability, improved resistance to traffic, and asphalt binders that maintain stability at higher temperatures. In January 2025, under the TEN-T Plan, the European Commission revised its transport network to include 424 major transport nodes. This transport network investment will support the use of higher-value modified bitumen for pavement rehabilitation and design of climate resilient pavements.
• Recycled Content Formulations: There is additional margin and procurement pressure is eased by the use of recycled asphalt pavement and recycled polymers. As reported by the U.S. FHWA in 2024, the use of asphalt pavement is recycled to a rate greater than 99%. During 2025 to 2029, verified circular formulations should gain market share since contractors will be required to disclose guaranteed performance for embodied carbon.
• Digital Pavement Services: If suppliers shift to providing services for recurring inspections, warranties, and maintenance, then it is possible that financial performance contracts for pavement services will be substantially more feasible as a result of the U.S. infrastructure law, signed in 2021, with a five-year authorization for surface transportation at approximately $567 billion.
• Emerging-market Urban Expansion: Rapidly developing cities in Southeast Asia and Africa need building materials suited for the rapid construction of waterproof structures and surfaces designed to allow for intense rainfall. In March of 2025, the World Bank estimated the East Asia and Pacific developing region would grow at 4.1% for 2025. During this period, local production capabilities and partnerships with distributors will allow for the greater adoption of modified bitumen through 2030.

The greatest potential exists in areas where performance of the product can be benchmarked against the lifecycle cost. Polymer science and recycled feedstocks should be the first areas of focus for suppliers. Conversion of roofing to premium products is more expedient, while thorough participation in the market for roads will have longer but larger payoffs. Companies that integrate materials and services for monitoring and maintenance will be best positioned to service the demands of buyers of infrastructure who will require more documented evidence of product durability and a low carbon footprint.

Modified Bitumen Market Drivers and Challenges

The modified bitumen market will see shifts in materials design, sustainability, market competition, and most importantly, demand for new construction and renovations. More durable and simpler to install systems are a result of technological advancements. There are newer emission, installation, and recycling regulations. Interest rate changes coupled with the cost of raw materials and the stability of the supply chains are continuing problems. Lucintel takes a closer look at these varying parameters to assess the market for the coming years.

The factors responsible for driving this market include:

• Infrastructure Investment: Waterproofing membranes and asphalt binders are needed in the construction of modern and upgraded highways, roadways, bridges, tunnels, and airports, and new and upgraded transit and urban infrastructure (e.g. rail and bus systems) are funded by the public. These projects directly influence the yearly construction expenditure in the U.S. Of the approximate $2.19 trillion spent in U.S. construction in January 2025, a large percentage was associated with these projects. Modified bitumen systems will be needed as the government reduces the time taken to complete these projects while extending the time taken for these projects to be renewed.
• Roofing and Waterproofing Demand: The ongoing construction of warehouses and distribution centers to support the new logistics and "data-centric" retail frameworks in the U.S. creates an increased demand for protection against moisture and for the management of temperature and UV exposure that will further develop between now and 2025 and beyond.
• Technological Innovation: The introduction of modified polymers and reinforcements, and self-adhering and cold weather membranes, are expanding the product performance and ease of application continuum. In 2025, manufacturers began the production of membranes with improved puncture resistance and increased tensile strength, and reduced reliance on torches for application. The innovations are expected to transform the industry within three to five years with decreased installation risks and increased worker safety, and the potential for product performance to encompass further extremes of climate. Formulation controls also will allow manufacturers to offer products with improved performance differentiation, and a decreased reliance on price.
• Sustainability and Energy Efficiency: Among other things, building owners expect to see improvement in thermal performance, reduced building maintenance, and extended service life with increased levels of recycled materials in building products. The EU continued the implementation of the 2030 climate framework to achieve a 55% reduction in net greenhouse gas emissions, compared to 1990 levels, in January 2025. This will promote low emissions manufacturing and create enhanced market demand, within three to five years, for modified bitumen products to achieve the sustainability goals of the building stakeholders.
• Manufacturing and Cost Efficiency: The combination of novel mixing technologies, automated application systems, modern reinforcements, and localized production, will alleviate some of the economic and environmental burdens of production. In 2025, producers advanced their capabilities, enabling improved process control. It is expected that within three to five years, greater digitization in industry will allow producers to introduce competitive lifecycle offers.

The challenges facing this market include:

• Raff material price flictuation: The production of modified bitumen is heavily reliant on bitumen, polymers, reinforcement fabrics, adhesives, and energy. With crude oil continuing to be susceptible to geopolitical and market variances as of February 2025, pricing of crude oil and in turn, petroleum based products are expected to be volatile. In the next three to five years, ongoing price volatility will reduce producer margins, increase costs for contractors, and result postponed projects of a fixed price. In order to manage the risk and be competitive while maintaining product quality and performance, companies will
• Regulators and Environmental Pressures: The emissions and VOCs regulations, enhanced workplace safety, new waste and building safety regulations, and other challenges increase the costs of doing business. With the focus on the sustainability of the built environment and the new EU Green Deal, the European Union will introduce new measures to combat climate change and will influence the manufacturing sector. Business pressure will increase to produce goods using sustainable methods, submit environmental impact assessments, and provide end-of-life recycling solutions. The increased costs of testing and certification will force small and medium-sized businesses to leave the market, leading to greater market consolidation.
• Skilled Labor and Installation Complexity: Proper preparation, adhesion, seam integrity, and control of the application environment are critical to the performance of membranes. Construction contractors reported a continued lack of skilled labor in the construction segments of building envelope specialties in 2025.

The modified bitumen market will expand because of increased demand for roofing, construction of new and replacement infrastructure, product and process innovations, and a focus on manufacturing sustainability. Increased variability and costs of petroleum inputs, higher demands of the built environment, and lack of installation skills will make project profitability and feasibility more challenging. The greatest opportunities will be presented to the suppliers of low emissions, sustainable, and easy to install, durable systems. Generally, steady market demand and supply are expected, but innovations relating to construction and compliance will be the primary competitive differentiators.

List of Modified Bitumen Market Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. Through these strategies modified bitumen market companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the modified bitumen market companies profiled in this report include-

• Sika
• Carlisle Companies
• Bauder
• Icopal
• Nynas
• Kibok
• GAF

Modified Bitumen Market by Segment

The study includes a forecast for the global modified bitumen market by product, end use, and region.

Modified Bitumen Market by Product [Value ($B) from 2019 to 2035]:

• Polymer
• Crumb Rubber
• Natural Rubber
• Others

Modified Bitumen Market by End Use [Value ($B) from 2019 to 2035]:

• Road Construction
• Waterproofing & Roofing
• Others

Modified Bitumen Market by Region [Value ($B) from 2019 to 2035]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

Country Wise Outlook for the Modified Bitumen Market

Public spending on road construction, reducing carbon emissions and investments in advanced pavement materials are shaping the market for modified bitumen. From 2025 to 2027, agencies and producers place greater emphasis on polymer modification, use of recycled materials, and extended pavement life. Based on its recent report, Lucintel believes that these policies and technologies will continue to shape the global suppliers' strategy.

• US: Federal highway construction will remain the principal demand driver. The Federal Highway Administration's fiscal 2025 apportionment of approximately $62 billion for the state highway and bridge programs (October 2024) favors the use of domestic materials and will serve as a basis for several years of procurement of polymer modified binders for heavy traffic corridors.
• China: The Chinese Ministry of Transport has scheduled extensive highway renewal and investment in transportation infrastructure for 2025. In parallel, national standards have prioritized the use of more durable and lower emission pavement materials. In concert with this policy direction, Sinopec and other petroleum companies are improving their specialty asphalt and polymer modified asphalt, and thus, domestic supplies of more advanced performance binders.
• Germany: In 2025, the Federal Ministry for Digital and Transport continued the motorway modernization program while more circular economy and climate policies focused on the use of recycled asphalt and warm mix technologies. The investment of producers in the upgrading of blending and recycling facilities will provide the improved modified bitumen specifications in rehabilitation contracts for the next several years.
• India: The Ministry of Road Transport and Highways has been allocated ₹2.87 trillion in the Union budget for FY2025-26 to sustain their construction and resurfacing activities (February 2025). Due to this allocation, domestic refiners and road-material suppliers have increased their capacity to produce and distribute modified bitumen, thereby lessening the demand and improving supply for national corridors.
• Japan: For the fiscal year 2025, the Ministry of Land, Infrastructure, Transport and Tourism in Japan has focused on funding Expressway resilience and preventive maintenance. NEXCO, programs have focused on more durable pavement rehabilitation. With limited budgets for construction, improving service life and having more resilient pavements is a focus, driving the increase of polymer-modified and recycled binders.

Features of the Global Modified Bitumen Market

• Market Size Estimates: modified bitumen market size estimation in terms of value ($B).
• Trend and Forecast Analysis: Market trends (2019 to 2026) and forecast (2027 to 2035) by various segments and regions.
• Segmentation Analysis: modified bitumen market size by product, end use, and region in terms of value ($B).
• Regional Analysis: modified bitumen market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different product, end use, and regions for the modified bitumen market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape of the modified bitumen market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

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This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the modified bitumen market by product (polymer, crumb rubber, natural rubber, and others), end use (road construction, waterproofing & roofing, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 6 years and what has its impact been on the industry?

Table of Contents

1. Executive Summary

2. Market Overview

• 2.1 Background and Classifications
• 2.2 Supply Chain

3. Market Trends & Forecast Analysis

• 3.2 Industry Drivers and Challenges
• 3.3 PESTLE Analysis
• 3.4 Patent Analysis
• 3.5 Regulatory Environment

4. Global Modified Bitumen Market by Product

• 4.1 Overview
• 4.2 Attractiveness Analysis by Product
• 4.3 Polymer: Trends and Forecast (2019-2035)
• 4.4 Crumb Rubber: Trends and Forecast (2019-2035)
• 4.5 Natural Rubber: Trends and Forecast (2019-2035)
• 4.6 Others: Trends and Forecast (2019-2035)

5. Global Modified Bitumen Market by End Use

• 5.1 Overview
• 5.2 Attractiveness Analysis by End Use
• 5.3 Road Construction: Trends and Forecast (2019-2035)
• 5.4 Waterproofing & Roofing: Trends and Forecast (2019-2035)
• 5.5 Others: Trends and Forecast (2019-2035)

6. Regional Analysis

• 6.1 Overview
• 6.2 Global Modified Bitumen Market by Region

7. North American Modified Bitumen Market

• 7.1 Overview
• 7.2 North American Modified Bitumen Market by Product
• 7.3 North American Modified Bitumen Market by End Use
• 7.4 United States Modified Bitumen Market
• 7.5 Mexican Modified Bitumen Market
• 7.6 Canadian Modified Bitumen Market

8. European Modified Bitumen Market

• 8.1 Overview
• 8.2 European Modified Bitumen Market by Product
• 8.3 European Modified Bitumen Market by End Use
• 8.4 German Modified Bitumen Market
• 8.5 French Modified Bitumen Market
• 8.6 Spanish Modified Bitumen Market
• 8.7 Italian Modified Bitumen Market
• 8.8 United Kingdom Modified Bitumen Market

9. APAC Modified Bitumen Market

• 9.1 Overview
• 9.2 APAC Modified Bitumen Market by Product
• 9.3 APAC Modified Bitumen Market by End Use
• 9.4 Japanese Modified Bitumen Market
• 9.5 Indian Modified Bitumen Market
• 9.6 Chinese Modified Bitumen Market
• 9.7 South Korean Modified Bitumen Market
• 9.8 Indonesian Modified Bitumen Market

10. ROW Modified Bitumen Market

• 10.1 Overview
• 10.2 ROW Modified Bitumen Market by Product
• 10.3 ROW Modified Bitumen Market by End Use
• 10.4 Middle Eastern Modified Bitumen Market
• 10.5 South American Modified Bitumen Market
• 10.6 African Modified Bitumen Market

11. Competitor Analysis

• 11.1 Product Portfolio Analysis
• 11.2 Operational Integration
• 11.3 Porter's Five Forces Analysis
  • Competitive Rivalry
  • Bargaining Power of Buyers
  • Bargaining Power of Suppliers
  • Threat of Substitutes
  • Threat of New Entrants
• 11.4 Market Share Analysis

12. Opportunities & Strategic Analysis

• 12.1 Value Chain Analysis
• 12.2 Growth Opportunity Analysis
  • 12.2.1 Growth Opportunities by Product
  • 12.2.2 Growth Opportunities by End Use
• 12.3 Emerging Trends in the Global Modified Bitumen Market
• 12.4 Strategic Analysis
  • 12.4.1 New Product Development
  • 12.4.2 Certification and Licensing
  • 12.4.3 Mergers, Acquisitions, Agreements, Collaborations, and Joint Ventures

13. Company Profiles of the Leading Players Across the Value Chain

• 13.1 Competitive Analysis
• 13.2 Sika
  • Company Overview
  • Modified Bitumen Business Overview
  • New Product Development
  • Merger, Acquisition, and Collaboration
  • Certification and Licensing
• 13.3 Carlisle Companies
  • Company Overview
  • Modified Bitumen Business Overview
  • New Product Development
  • Merger, Acquisition, and Collaboration
  • Certification and Licensing
• 13.4 Bauder
  • Company Overview
  • Modified Bitumen Business Overview
  • New Product Development
  • Merger, Acquisition, and Collaboration
  • Certification and Licensing
• 13.5 Icopal
  • Company Overview
  • Modified Bitumen Business Overview
  • New Product Development
  • Merger, Acquisition, and Collaboration
  • Certification and Licensing
• 13.6 Nynas
  • Company Overview
  • Modified Bitumen Business Overview
  • New Product Development
  • Merger, Acquisition, and Collaboration
  • Certification and Licensing
• 13.7 Kibok
  • Company Overview
  • Modified Bitumen Business Overview
  • New Product Development
  • Merger, Acquisition, and Collaboration
  • Certification and Licensing
• 13.8 GAF
  • Company Overview
  • Modified Bitumen Business Overview
  • New Product Development
  • Merger, Acquisition, and Collaboration
  • Certification and Licensing

14. Appendix

• 14.1 List of Figures
• 14.2 List of Tables
• 14.3 Research Methodology
• 14.4 Disclaimer
• 14.5 Copyright
• 14.6 Abbreviations and Technical Units
• 14.7 About Us
• 14.8 Contact Us