Asphalt Additives Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2021 and Forecast 2022-2028

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Asphalt Additives Market: By Product Type (Polymeric modifiers, Anti-strip & adhesion promoters, Emulsifiers, Chemical modifiers, Others (rejuvenators, warm mix additives, fibers, organic materials, rubber modifiers)), By Application (Road construction & paving, Roofing, Airport construction, Others (parking lots and bridges)), By Technology (Hot Mix, Cold Mix, Warm Mix), and Geography 

 

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Report

Description

Asphalt Additives Market size is valued at USD 3,862.8 million in 2021 and is expected to grow at a CAGR of 7.1% during the forecast period 2022 to 2028. 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.

Key Development:

In June 2020, BASE SE launched a bitumen additive B2Last that binds components in the bitumen to form a robust yet elastic polymer grid. This helps extend the road’s lifespan and durability.

Asphalt Additives Market

MARKET SUMMARY
-
7.1% CAGR
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 7.1%
  • Largest Market– North-America
  • Fastest Growing Market– Asia-Pacific

Asphalt Additives Market

  • The report on global asphalt additives market gives historical, current and future market sizes (US$ Bn) based on product type, application, technology and geographical regions
  • The asphalt additives market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
Key Players
  • Ingevity Corporation (U.S.)
  • The Dow Chemical Company (U.S.)
  • DuPont Evalay (U.S.)
  • Arkema S.A. (France)
  • Sasol Limited (South Africa)
Asphalt Additives Market Drivers And Restraints

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 got significant share

Asphalt Additives Market

Asia Pacific region accounted for the largest market for asphalt additives in 2021, 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
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The report provides granular level information about the market size, regional market share, historic market (2017 to 2021) and forecast (2022 to 2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
Asphalt Additives Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

The major factors driving the market growth are an increase in road construction projects along with the rising usage of asphalt additives in roofing applications.

The global Asphalt Additives market size is valued at USD 3,862.8 million in 2021 and is expected to grow at a CAGR of 7.1% during the forecast period 2022 to 2028.

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.


Report

Table Of Content


Report

Company Profile

  • Ingevity Corporation (U.S.)
  • The Dow Chemical Company (U.S.)
  • DuPont Evalay (U.S.)
  • Arkema S.A. (France)
  • I. du Pont de Nemours and Company (U.S.)
  • Sasol Limited (South Africa)
  • MeadKraton Corporation (U.S.)
  • Akzo Nobel, Kao Corporation (Netherland)
  • Arrmaz (U.S.)
  • Honeywell International, Inc. (U.S.)

Description

Asphalt Additives Market size is valued at USD 3,862.8 million in 2021 and is expected to grow at a CAGR of 7.1% during the forecast period 2022 to 2028. 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.

Key Development:

In June 2020, BASE SE launched a bitumen additive B2Last that binds components in the bitumen to form a robust yet elastic polymer grid. This helps extend the road’s lifespan and durability.

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