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Asphalt Additives Market: By Product Type ), By Application ), By Technology, and Geography
Asphalt Additives Market: By Product Type ), By Application ), By Technology, and Geography
Asphalt Additives Market size is valued at US$ 4,762.8 million in 2023 and is poised to grow at a CAGR of 7.1% during the forecast period 2024 to 2030. The global market provides a detailed overview and which can be segmented by product type, application, and technology. By product type, the asphalt additives market has been segmented into polymeric modifiers, anti-strip & adhesion promoters, emulsifiers, chemical modifiers, and others (rejuvenators, warm mix additives, fibers, organic materials, rubber modifiers)).
Based on type, the polymeric modifier segment accounted for the largest share, in terms of value, in 2021, and is projected to dominate the market attributing to various properties such as stiffness, strength, and making more advancement of flexibility and durability of asphalt pavements. By application, the asphalt additives market has been segmented into road construction & paving, roofing, airport construction, and others (parking lots and bridges)). Based on application, the road construction & paving segment of the market is expected to grow at the highest CAGR during the forecast period.
As, Roads get damaged these days easily due to various factors such as wear & tear, moisture, hot/cold climate, and frost. Furthermore, this damage can be prevented with asphalt additives, as they support increasing the durability of pavements by preventing cracking and rutting which surely leads to an increase in the demand for asphalt additives. Based on the technology, the segment has been segregated into the hot mix, cold mix, and warm mix.
Based on technology, the hot mix technology is expected to lead the asphalt additives market in the coming next few years owing to its various properties such as durability, and resistance to moisture damage and thermal cracking. It also offers excellent workability and skid resistance. This segment is further growth due to increasing developments in the construction of new highways and expressways.
Study Period
2024-2030Base Year
2023CAGR
7.1%Largest Market
North-AmericaFastest Growing Market
Asia-Pacific
Increasing investment in the infrastructure sector in emerging economies such as China, India, Malaysia, and Indonesia is one of the major factors contributing to the growth asphalt additives market. Additionally, the increase in government expenditure on infrastructure in the especially Asia Pacific region can be attributed to the increasing construction of roads and other public infrastructure development projects for improved transportation and better connectivity between important economic centers in this region.
Asia Pacific region accounted for the largest market for asphalt additives in 2022, owing to the rising demand for asphalt additives products in emerging economies, such as India and China. Additionally, China is the leading consumer of asphalt additives products in the Asia Pacific region. Furthermore, the enormous growth and innovation, along with industry consolidations, and increasing expenditure on the construction of roads and various infrastructure projects are also anticipated to drive the growth of the Asia Pacific asphalt additives market.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 4,762.8 million |
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Market CAGR |
7.1% |
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By Product Type |
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By Application |
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By Technology |
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The global asphalt additives market size was valued at US$ 4,762.8 million in 2023 and is projected to grow at a CAGR of 7.1% from 2024 to 2030.
Lack of awareness regarding asphalt additives among road builders and contractors.
Based on application, the road construction & paving segment is expected to account for the largest share of the asphalt additives market during the forecast period, owing to increasing road construction activities increases these days which undoubtedly expands the asphalt additives market.
| 1.Executive Summary |
| 2.Global Asphalt Additives Market Introduction |
| 2.1.Global Asphalt Additives Market - Taxonomy |
| 2.2.Global Asphalt Additives Market - Definitions |
| 2.2.1.Product Type |
| 2.2.2.Application |
| 2.2.3.Technology |
| 2.2.4.Region |
| 3.Global Asphalt Additives Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Asphalt Additives Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Asphalt Additives Market By Product Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Polymeric modifiers |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Anti-strip & adhesion promoters |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Emulsifiers |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Chemical modifiers |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 5.5. Others (rejuvenators, warm mix additives, fibers, organic materials, rubber modifiers) |
| 5.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.5.3. Market Opportunity Analysis |
| 6.Global Asphalt Additives Market By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Road construction & paving |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Roofing |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Airport construction |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Others (parking lots and bridges) |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 7.Global Asphalt Additives Market By Technology, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. Hot mix |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Cold mix |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Warm mix |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 8.Global Asphalt Additives Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia Pacific (APAC) |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Middle East and Africa (MEA) |
| 8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Latin America |
| 8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 9.North America Asphalt Additives Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Polymeric modifiers |
| 9.1.2.Anti-strip & adhesion promoters |
| 9.1.3.Emulsifiers |
| 9.1.4.Chemical modifiers |
| 9.1.5.Others (rejuvenators, warm mix additives, fibers, organic materials, rubber modifiers) |
| 9.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Road construction & paving |
| 9.2.2.Roofing |
| 9.2.3.Airport construction |
| 9.2.4.Others (parking lots and bridges) |
| 9.3. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Hot mix |
| 9.3.2.Cold mix |
| 9.3.3.Warm mix |
| 9.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.4.1.United States of America (USA) |
| 9.4.2.Canada |
| 10.Europe Asphalt Additives Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Polymeric modifiers |
| 10.1.2.Anti-strip & adhesion promoters |
| 10.1.3.Emulsifiers |
| 10.1.4.Chemical modifiers |
| 10.1.5.Others (rejuvenators, warm mix additives, fibers, organic materials, rubber modifiers) |
| 10.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Road construction & paving |
| 10.2.2.Roofing |
| 10.2.3.Airport construction |
| 10.2.4.Others (parking lots and bridges) |
| 10.3. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.Hot mix |
| 10.3.2.Cold mix |
| 10.3.3.Warm mix |
| 10.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Germany |
| 10.4.2.France |
| 10.4.3.Italy |
| 10.4.4.United Kingdom (UK) |
| 10.4.5.Spain |
| 10.4.6.Rest of EU |
| 10.4.7. |
| 11.Asia Pacific (APAC) Asphalt Additives Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Polymeric modifiers |
| 11.1.2.Anti-strip & adhesion promoters |
| 11.1.3.Emulsifiers |
| 11.1.4.Chemical modifiers |
| 11.1.5.Others (rejuvenators, warm mix additives, fibers, organic materials, rubber modifiers) |
| 11.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Road construction & paving |
| 11.2.2.Roofing |
| 11.2.3.Airport construction |
| 11.2.4.Others (parking lots and bridges) |
| 11.3. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.Hot mix |
| 11.3.2.Cold mix |
| 11.3.3.Warm mix |
| 11.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.China |
| 11.4.2.India |
| 11.4.3.Australia and New Zealand (ANZ) |
| 11.4.4.Japan |
| 11.4.5.Rest of APAC |
| 12.Middle East and Africa (MEA) Asphalt Additives Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Polymeric modifiers |
| 12.1.2.Anti-strip & adhesion promoters |
| 12.1.3.Emulsifiers |
| 12.1.4.Chemical modifiers |
| 12.1.5.Others (rejuvenators, warm mix additives, fibers, organic materials, rubber modifiers) |
| 12.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Road construction & paving |
| 12.2.2.Roofing |
| 12.2.3.Airport construction |
| 12.2.4.Others (parking lots and bridges) |
| 12.3. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Hot mix |
| 12.3.2.Cold mix |
| 12.3.3.Warm mix |
| 12.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.GCC Countries |
| 12.4.2.South Africa |
| 12.4.3.Rest of MEA |
| 13.Latin America Asphalt Additives Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 13.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Polymeric modifiers |
| 13.1.2.Anti-strip & adhesion promoters |
| 13.1.3.Emulsifiers |
| 13.1.4.Chemical modifiers |
| 13.1.5.Others (rejuvenators, warm mix additives, fibers, organic materials, rubber modifiers) |
| 13.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Road construction & paving |
| 13.2.2.Roofing |
| 13.2.3.Airport construction |
| 13.2.4.Others (parking lots and bridges) |
| 13.3. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.Hot mix |
| 13.3.2.Cold mix |
| 13.3.3.Warm mix |
| 13.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Brazil |
| 13.4.2.Mexico |
| 13.4.3.Rest of LA |
| 14. Competition Landscape |
| 14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 14.2.1.Ingevity Corporation (U.S.) |
| 14.2.2.The Dow Chemical Company (U.S.) |
| 14.2.3.DuPont Evalay (U.S.) |
| 14.2.4.Arkema S.A. (France) |
| 14.2.5.I. du Pont de Nemours and Company (U.S.) |
| 14.2.6.Sasol Limited (South Africa) |
| 14.2.7.MeadKraton Corporation (U.S.) |
| 14.2.8.Akzo Nobel, Kao Corporation (Netherland) |
| 14.2.9.Arrmaz (U.S.) |
| 14.2.10.Honeywell International, Inc. (U.S.) |
| 15. Research Methodology |
| 16. Appendix and Abbreviations |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.