Global Asphalt Additive Market By Type (Polymeric Modifiers, Anti-Strip and Adhesion Promoters, Emulsifiers, Rejuvenators, Chemical Modifiers, Fibres, Flux Oil, Coloured Asphalt and Others), Applications (Road Construction and Paving, Roofing, Airport Construction and Others), Technology (Hot Mix, Cold Mix and Warm Mix), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights of Asphalt Additive Market
Data Bridge Market Research analyses that the asphalt additive market will witness a CAGR of 6.80% for the forecast period of 2021-2028. Increased need and demand for asphalt additive for a wide range of applications, rising urbanization or construction activities especially in the developing economies and significant increase in demand for asphalt additives for roofing applications are the major factors attributable to the growth of the asphalt additive market.
Asphalt is a thick black brown coloured substance that is derived in the process of crude oil refinery. Asphalt additives are the additives added to asphalt to modify its characteristics and properties. This is done to increase the functional temperature range of asphalt. Also, the process enhances the binding property of asphalt. The process of mixing additives to asphalt helps in increasing the elasticity, decreasing viscosity and improving heat stability.
Increasing number of end-use industries for asphalt additives is the root cause fuelling up the asphalt additive market growth rate. Rising infrastructural development and growth in the construction activities especially in the developing economies will further create lucrative growth opportunities for the asphalt additive market. Rising industrialization and huge investments in construction sector to meet industrial and residential infrastructure will further induce growth in the demand for asphalt additives. Increasing focus of the manufacturers on product innovations will further create remunerative growth opportunities for the asphalt additive market.
However, availability of cheaper substitutes such as concrete and gypsum will pose a major challenge to the growth rate of asphalt additive market. Lack of awareness about asphalt additives among road builders and contractors in the underdeveloped economies will further restrict the scope of growth for this market. Fluctuations in the prices and supply of asphalt will further derail the asphalt additive market growth rate.
This asphalt additive market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on asphalt additive market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Asphalt Additive Market Scope and Market Size
The asphalt additive market is segmented on the basis of type, applications and technology. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of type, the asphalt additive market is segmented into polymeric modifiers, anti-strip and adhesion promoters, emulsifiers, rejuvenators, chemical modifiers, fibres, flux oil, coloured asphalt and others.
- On the basis of applications, the asphalt additive market is segmented into road construction and paving, roofing, airport construction and others.
- On the basis of technology, the asphalt additive market is segmented into hot mix, cold mix and warm mix.
Global Asphalt Additive Market Country Level Analysis
The asphalt additive market is analysed and market size, volume information is provided by country, type, applications and technology as referenced above.
The countries covered in the asphalt additive market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the asphalt additive market and will continue to flourish its trend of dominance during the forecast period as well. The dominance is owing to increased application of asphalt additive for roofing application. Growth and expansion of buildings and construction industry owing to rising infrastructural development will further propel growth in the demand for asphalt additive. India and China will emerge as the major contributors from this region. This is because of the high rate of consumption of asphalt additive by verticals in these countries. Middle East and Africa will register the highest CAGR for this period owing to rising construction projects.
The country section of the asphalt additive market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Asphalt Additive Market Share Analysis
The asphalt additive market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to asphalt additive market.
The major players covered in the asphalt additive market report are Nouryon. DuPont., Arkema, Honeywell International Inc., Evonik Industries AG, Huntsman International LLC, BASF SE, Clariant AG, KRATON CORPORATION., Kao Corporation., Sasol LTD, Ingevity, Akzo Nobel N.V., ArrMaz, Berkshire Engineering., Engineered Additives LLC, Owens Corning., Dow, China Petrochemical Corporation. and McAsphalt Industries Limited among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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