Global Organic Asphalt Modifiers Market, By Product Type (Physical Modifiers, Chemical Modifiers, Fibers, Adhesion Improvers, Extenders, Fillers, Antioxidants, Anti-strip Modifiers, Others), Technology (Hot Mix, Cold Mix, Warm Mix), Application (Road Construction and Paving, Roofing, Airport Construction, Others), 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
Organic Asphalt Modifiers Market Analysis and Insights
Organic asphalt modifiers market is expected to grow at a compound annual growth rate of 2.70% for the forecast period of 2021 to 2028. Data Bridge Market Research report on organic asphalt modifiers market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
Asphalt or bitumen is an extremely viscous liquid or semi-solid form of petroleum which is black and sultry. Asphalt modifiers are the type of additives that are added in the asphalt to enhance the temperature resistance, quality and others. These asphalt modifiers holds the property of an adhesive which helps in good aggregate-asphalt binder bond.
The significant development of rail and road infrastructure by the government has highly influenced growth of the organic asphalt modifiers market. In line with this, the rising use of organic asphalt modifiers in the construction industry owing to increasing construction activities is also acting as a key determinant favoring the growth of the organic asphalt modifiers market over the forecast period of 2021 to 2028. Also the increasing investments in the infrastructure sector due to its rigid properties, increasing infrastructure development, recyclability of asphalt and strong presence of major construction companies are also positively impacting the growth of the organic asphalt modifiers market. The major factor accountable for the growth of the market is the rapid technological advancements along with rising government initiatives and funding for infrastructure projects in developed and developing countries.
However, the growing use of concrete and bioasphalt as substitutes for asphalt as well as the volatility in the prices and supply of asphalt may act as key restraint towards organic asphalt modifiers market growth rate in the forecast period of 2021 to 2028, whereas the lack of awareness regarding asphalt modifiers among road builders and contractors and cost structure have the potential to challenge the growth of the organic asphalt modifiers market in the above mentioned forecast period.
Furthermore, rapid development and commercialization of environment friendly recyclable asphalt as well as rising use of warm mix asphalt and increasing use of asphalt modifiers in roofing applications will further offer a variety of growth opportunities for the organic asphalt modifiers market in the above mentioned forecast period.
This organic asphalt modifiers market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized 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 organic asphalt modifiers 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 Organic Asphalt Modifiers Market Scope and Market Size
Organic asphalt modifiers market is segmented on the basis of product type, technology and application. 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 markets.
- On the basis of product type, the organic asphalt modifiers market is segmented into physical modifiers, chemical modifiers, fibers, adhesion improvers, extenders, fillers, antioxidants, anti-strip modifiers and others. Physical modifiers have further been segmented into plastics, rubbers and others.
- Based on technology, the organic asphalt modifiers market is segmented into hot mix, cold mix and warm mix.
- The application segment for organic asphalt modifiers market is segmented into road construction and paving, roofing, airport construction and others.
Organic Asphalt Modifiers Market Country Level Analysis
Organic asphalt modifiers market is analyzed and market size, volume information is provided by country, product type, technology and application as referenced above.
The countries covered in the organic asphalt modifiers 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 leads the organic asphalt modifiers market because of the high investments in the development of roads and highways in emerging economies as well as the growing demand from the construction in countries such as China, India and Japan within this particular region. China is the leading consumer of asphalt modifiers products in the Asia Pacific region because of the high development in the construction industry.
The country section of the organic asphalt modifiers 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 Organic Asphalt Modifiers Market Share Analysis
Organic asphalt modifiers 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 organic asphalt modifiers market.
The major players covered in the organic asphalt modifiers market report are Akzo Nobel N.V., Arkema, Honeywell International Inc., Engineered Additives LLC, Dow, ArrMaz, Cargill, Incorporated, BASF SE, Evonik Industries AG, KRATON CORPORATION, Kao Chemicals Europe, Exxon Mobil Corporation, Sasol LTD, China Petroleum & Chemical Corporation, KPL International Limited, Iterchimica, Ergon Asphalt, Inc., LCY GROUP, McAsphalt Industries Limited and GENAN HOLDING A/S, 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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