Asphalt Additives Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2015-2020 and Forecast 2021-2027

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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

The global asphalt additives market size valued USD 3.6 billion in 2020 and expected to reach USD 4.5 billion by 2027, at a CAGR of 6.6% during the forecast period  2019 to 2027. Chemicals or substances that are added to the asphalt in order to alter the final outcome of concrete are known as asphalt additives. Asphalt additives are any of a number of substances that can be added to the asphalt binder to alter the characteristics of the final blend of HMA. Additives being used to boost AC performances include polymers, chemical modifiers, extenders, oxidants and antioxidants, hydrocarbons and antistripping additives. The most commonly used chemical modifier is phosphoric acid. This modifier may be used in combination with polymers to increase the high-temperature stiffness. The additives are used for the construction of HMA pavements, to reduce traffic volumes, traffic loads and tire pressure.

Asphalt Additives Market

MARKET SUMMARY
-
6.6% CAGR
  • Study Period– 2021 – 2027
  • Base Year– 2020
  • CAGR– 6.6%
  • 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
  • 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)
  • I. du Pont de Nemours and Company (U.S.)
  • Sasol Limited (South Africa)
Asphalt Additives Market

Drivers And Restraints

Growing consumer inclination towards asphalt additives for roofing applications are expected to augment the global market growth. These additives are added to roofing products for high quality and UV resistance. Heavy investments in construction industry to meet rising industrial and residential infrastructure demand in BRICS is expected to drive overall demand in the respective countries, further complementing the global market growth. Sporting events such as 2016 Olympics in Brazil and FIFA World Cup 2018 in Russia are expected to further drive construction growth, thus generating requirement for asphalt additives. Factors inhibiting the growth of the asphalt additives market include volatility in asphalt price and supply, lack of awareness about asphalt additives, and presence of substitutes such as concrete and bio asphalt.


Asia-Pacific got significant share

Asphalt Additives Market

Geographically, asphalt additives market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Asia Pacific Asphalt Additives Market has accounted for the largest share of the asphalt additives market in 2015. There is a significant infrastructure gap in the Asia-Pacific region. Maximum economic growth and utilization of facilities in countries of this region are possible with the implementation of new infrastructure projects. Thus, the road infrastructure projects by governments of various countries in Asia-Pacific are expected to drive the asphalt additives market. North America Asphalt Additives Market is projected to account the second highest market share for asphalt additives. Growing construction activities and road building in the U.S. is expected to fuel the popularity and demand for the global asphalt additives market in this region. Europe Asphalt Additives Market is expected to register a significant growth during the forecast period due to strict environmental rules in Europe are projected to support the use of warm mix of asphalt which in turn, fuels the demand and popularity from the global asphalt additives market.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Notable Market Developments

  • In November 2018, Honeywell announced that it has completed its acquisition of warehouse automation solutions provider Transnorm.
Asphalt Additives Market Segmentation


Location

GEOGRAPHY


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

The global asphalt additives market size valued USD 3.6 billion in 2020 and expected to reach USD 4.5 billion by 2027, at a CAGR of 6.6% during the forecast period  2019 to 2027. Chemicals or substances that are added to the asphalt in order to alter the final outcome of concrete are known as asphalt additives. Asphalt additives are any of a number of substances that can be added to the asphalt binder to alter the characteristics of the final blend of HMA. Additives being used to boost AC performances include polymers, chemical modifiers, extenders, oxidants and antioxidants, hydrocarbons and antistripping additives. The most commonly used chemical modifier is phosphoric acid. This modifier may be used in combination with polymers to increase the high-temperature stiffness. The additives are used for the construction of HMA pavements, to reduce traffic volumes, traffic loads and tire pressure.

ASIA PACIFIC OFFICE

Precision Business Insights, 5th Floor, Mohan’s Elite, Opp : Bharat Petroleum Pump, Khanamet Road, Hitech City, Hyderabad – 500084

EUROPE OFFICE

Precision Business Insights, Kemp House, 152 – 160 City Road, London EC1V 2NX