Stratistics MRC에 따르면 세계의 개질 아스팔트 시장은 2025년에 254억 달러를 차지하고 예측 기간 중 CAGR은 7.3%로 성장해 2032년에는 416억 달러에 이를 전망입니다.
개질 아스팔트는 APP(어택틱 폴리프로필렌)나 SBS(스티렌 부타디엔 스티렌)와 같은 폴리머로 개량된 아스팔트로 만들어진 지붕재와 포장재입니다. 저구배의 루핑에 자주 사용되는 개질 아스팔트는 롤 형태로 입수할 수 있어, 열, 저온 접착제, 자기 접착제를 사용해 시공할 수 있습니다.
인도 석유 천연가스성 석유계획분석실(PPAC) 데이터에 따르면 2024년 2월 인도 아스팔트 판매량은 전월 대비 21.5% 증가했습니다.
인프라 개발 진전
세계 정부와 기업들이 새로운 도로, 다리, 공항, 도시 프로젝트에 대규모 투자를 하고 있기 때문에 인프라 개발의 확대는 개질 아스팔트 업계의 주요 추진력이 되고 있습니다. 또한 신흥국에서의 산업화와 도시화의 진전이 시장 확대의 원동력이 되어, 개질 아스팔트는 현대적인 인프라 프로젝트에 선호되는 재료가 되고 있습니다.
원료 가격 변동
원료 가격, 특히 원유와 석유 유도품의 가격 변동은 개질 아스팔트 시장에 큰 영향을 미치고 있습니다. 게다가 이 변동은 최종 사용자에게 개질된 역청의 경제성을 저하시키고, 특히 대규모 인프라 프로젝트의 프로젝트 계획 및 예산 편성에 지장을 초래하여 시장의 성장과 안정을 제한할 가능성이 있습니다.
지속 가능한 인프라에 대한 수요 증가
지속가능한 인프라에 대한 요구 증가는 개질된 아스팔트 부문에 큰 비즈니스 기회가 되고 있습니다. 개질 아스팔트는 성능을 향상시키고 순환 경제의 개념을 촉진합니다. 또한 개질 아스팔트의 내구성과 최소 유지 보수 요구 사항은 서비스 수명 비용과 환경 부하를 줄이는 데 세계의 녹색 인프라 프로젝트에 매력적인 선택입니다.
대체 재료로 대체
대체 재료의 대체는 개질 아스팔트 섹터에게 중요한 과제입니다. 또한, 도로와 지붕의 대체 재료로 진행중인 조사와 기술 혁신은 특히 이러한 대체 재료가 시간이 지남에 따라 더 나은 성능과 비용 효과를 보이게 되면 개질 아스팔트 시장 지배력을 침식할 수 있습니다.
COVID-19의 대유행은 록다운과 제한으로 인해 세계 수많은 건설 프로젝트가 중단되었기 때문에 개질 아스팔트 사업에 큰 악영향을 미쳤습니다. 이로 인해 도로 건설과 지붕 용도의 아스팔트 수요가 저하되었습니다.
예측 기간 동안 스티렌 부타디엔 스티렌(SBS) 부문이 최대가 될 것으로 예측됩니다.
예측 기간 동안 스티렌 부타디엔 스티렌(SBS) 부문이 가장 큰 시장 점유율을 차지할 것으로 예측됩니다. 포장 및 지붕 시스템의 성능을 향상시킬 수 있는 능력이 있기 때문에 신설과 유지 관리 모두에 이상적입니다.
예측기간 동안 도로건설분야의 CAGR이 가장 높아질 것으로 예상
예측기간 동안 도로건설분야가 가장 높은 성장률을 보일 것으로 예측됩니다. 내구성 있는 노면에 대한 수요가 도로 포장에 있어서의 개질 아스팔트의 사용 증가를 뒷받침하고 있습니다. 또한, 인프라 개발과 유지관리를 목적으로 한 정부의 시책이, 이 부문의 성장을 뒷받침하고 있습니다.
예측 기간 동안 북미가 가장 큰 시장 점유율을 차지할 것으로 예측됩니다. 특히 미국에서는 지속가능성과 에너지 효율적인 건설기술이 중시되어 있어 도로와 지붕에서 개질 아스팔트의 사용이 촉진되어 북미의 주도적 지위를 강화하고 있습니다.
예측 기간 동안 아시아태평양이 가장 높은 CAGR을 나타낼 것으로 예측됩니다. 팔트 수요를 촉진하고 있으며, 이 지역에서는 지속 가능한 개발과 세련된 건설자재의 사용이 중시되고 있으며, 시장 확대에 박차를 가하고 있기 때문에 아시아태평양은 개질 아스팔트의 급성장 지역이 되고 있습니다.
According to Stratistics MRC, the Global Modified Bitumen Market is accounted for $25.4 billion in 2025 and is expected to reach $41.6 billion by 2032 growing at a CAGR of 7.3% during the forecast period. Modified bitumen is roofing and paving material made from asphalt that has been improved with polymers like APP (atactic polypropylene) or SBS (styrene-butadiene-styrene) to work better. It offers superior flexibility, weather resistance, and durability compared to traditional asphalt. Commonly used in low-slope roofing, modified bitumen is available in roll form and can be applied using heat, cold adhesives, or self-adhesion. It's known for excellent waterproofing and long-term reliability.
According to data from the Petroleum Planning and Analysis Cell (PPAC) of India's Ministry of Petroleum and Natural Gas, bitumen sales in India jumped 21.5% month-on-month in February 2024.
Growing infrastructure development
Growing infrastructure development is a primary driver of the modified bitumen industry, as governments and corporate sectors around the world invest extensively in new roads, bridges, airports, and urban projects. The growing demand for long-lasting, high-performance construction materials capable of withstanding extreme weather and heavy traffic is driving up demand for modified bitumen, which provides improved flexibility, crack resistance, and longevity. Furthermore, growing industrialization and urbanization in emerging economies are driving market expansion, making modified bitumen the preferred material for modern infrastructure projects.
Volatility in raw material prices
Raw material price volatility, particularly for crude oil and petroleum derivatives, has a substantial impact on the modified bitumen market. Bitumen is a byproduct of crude oil refining; therefore, fluctuations in global oil prices have a direct impact on production costs, resulting in unexpected pricing trends for modified bitumen. Furthermore, this volatility can make modified bitumen less economical for end users and impede project planning and budgeting, particularly for large-scale infrastructure projects, limiting market growth and stability.
Growing demand for sustainable infrastructure
The increased need for sustainable infrastructure creates significant opportunities for the modified bitumen sector. With a growing emphasis on environmental stewardship, governments and companies are looking for construction materials that reduce resource consumption and encourage recycling. Additionally, modified bitumen made from recycled polymers or rubber improves performance while also promoting circular economy concepts. Furthermore, the endurance and minimal maintenance requirements of modified bitumen contribute to lower lifespan costs and environmental impact, making it an appealing alternative for green infrastructure projects around the world.
Substitution by alternatives
The substitution of alternative materials poses a significant challenge to the modified bitumen sector. As new technologies and materials, such as concrete, sophisticated composites, and bio-based binders, gain popularity, they provide competitive benefits in specific applications, such as increased sustainability or cheaper initial costs. Furthermore, ongoing research and innovation in alternative road and roofing materials have the potential to erode modified bitumen's market dominance, particularly if these substitutes display greater performance or cost-effectiveness over time.
The Covid-19 pandemic had a significant detrimental influence on the modified bitumen business, as lockdowns and limitations caused the suspension of numerous construction projects worldwide. Furthermore, decreased infrastructure investments and supply chain interruptions have lowered demand for bitumen in road building and roofing applications. However, as economies reopened and stimulus measures were implemented, the market began to revive, with infrastructure development resuming and demand for modified bitumen steadily returning.
The styrene-butadiene-styrene (SBS) segment is expected to be the largest during the forecast period
The styrene-butadiene-styrene (SBS) segment is expected to account for the largest market share during the forecast period. SBS-modified bitumen is preferred because of its high flexibility, longevity, and resilience to temperature changes and mechanical stress. In addition, its capacity to improve the performance of pavements and roofing systems in tough environments makes it ideal for both new construction and maintenance operations. Also, the widespread use of SBS-modified bitumen in roadbuilding, roofing, and waterproofing applications helps maintain its market dominance.
The road construction segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the road construction segment is predicted to witness the highest growth rate. This growth is being driven by increased investment in building and upgrading road networks, particularly in emerging nations experiencing growing urbanization. The demand for long-lasting, durable road surfaces is driving increased use of modified bitumen in road paving, as these surfaces can endure heavy traffic and extreme weather. Furthermore, government measures aimed at infrastructure development and maintenance are fueling the segment's growth.
During the forecast period, the North America region is expected to hold the largest market share. This dominance is due to the region's strong infrastructure sector, continued investments in road and building development, and the demand for high-performance materials that can resist a wide range of weather conditions. Furthermore, the emphasis on sustainability and energy-efficient construction techniques, particularly in the United States, is driving the use of modified bitumen for both road and roofing applications, bolstering North America's leadership position.
Over the forecast period, the Asia Pacific region is anticipated to exhibit the highest CAGR. Rapid urbanization, thriving construction industries, and significant government investments in infrastructure projects like roads, bridges, and smart cities are driving demand for modified bitumen in China and India. Furthermore, the area's emphasis on sustainable development and the use of sophisticated construction materials is fueling market expansion, making Asia Pacific the fastest-growing region for modified bitumen.
Key players in the market
Some of the key players in Modified Bitumen Market include Sika AG, Royal Dutch Shell PLC, ExxonMobil Corporation, TotalEnergies SE, Gazprom Neft PJSC, ROSNEFT, Colas SA, Nynas AB, BASF SE, Soprema Group, Holcim Building Envelope, GAF Materials Corporation, Bitumina Group, BMI Group, Carlisle Companies Incorporated, Repsol, Dow, Inc. and IKO Industries Ltd.
In February 2025, Sika Corporation launched the SikaShield brand in the U.S. market, introducing the innovative "hybrid" modified bitumen membrane, SikaShield HB79. This product combines APAO and SBS asphaltic membrane technologies, offering enhanced durability and adaptability for buildings in areas with seasonal climate changes and heavy foot traffic. Juliana Grippa, National Manager-Bituminous Systems, described this as the next evolution in modified bitumen membranes.
In February 2025, Repsol announced its continued production of various asphalts and bitumens for diverse applications, including road asphalting and waterproofing. The company received Environmental Product Declarations (EPD) for its conventional bitumens, polymer-modified bitumens, bitumens made with rubber dust from end-of-life tires, and cationic and anionic emulsions. This recognition made Repsol the first European manufacturer of bitumen and bituminous emulsions to achieve this milestone.