Global Asphalt Additive Market By Type (Polymeric Modifiers, Anti-Strip & Adhesion Promoters, Emulsifiers, Rejuvenators, Chemical Modifiers , Fibers, Flux Oil, Colored Asphalt and Others), Applications (Road Construction & Paving, Roofing, Airport Construction and Others), Technology (Hot Mix, Cold Mix, Warm Mix), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Asphalt Additive Market
Global asphalt additive market is projecting a rise in estimated value by registering a substantial CAGR of 6.5% in the forecast period of 2019-2026 due to development in infrastructure; recycle Asphalt and rise in demand for various applications.
Market Definition: Global Asphalt Additive Market
Asphalt is the thick black brown coloured substance made up of heavy hydrocarbons. It is derived from crude after application of refining processes. Additives are the constituents which are added in order to change the composition or properties of a substance. Asphalt additives consist of wide applications including improving the heat stability, increases elasticity, decreases viscosity and others. Moreover, factors such as adoption of asphalt additives for the development of infrastructure and reduction in damage caused by environment enhancing the asphalt additive market.
- Government initiatives and funding for infrastructure projects in developed and developing countries is driving the market growth
- Rising global construction industry is the major factor driving the growth of the market
- Growing demand for asphalt additives for roofing applications is boosting the market growth
- Concrete and bioasphalt are used as a substitute for asphalt which is hindering the market growth
- Fluctuation in prices may act as a restraint to this market
Segmentation: Global Asphalt Additive Market
- Polymeric Modifiers
- Anti-Strip & Adhesion Promoters
- Chemical Modifiers
- Flux Oil
- Colored Asphalt
- Road Construction & Paving
- Airport Construction
- Hot Mix
- Cold Mix
- Warm Mix
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
Key Developments in the Market:
- In April 2019, Nouryon launched Wetfix G400 in order to expand the asphalt market. Wetfix G400 is derived from renewable resources and it is non-amine adhesive in nature. The new Wetfix G400 would meet the demand of the customers for sustainable alternatives in order to maintain asphalt’s durability and mixture performance
- In May 2017, Maxxchem which is manufacturer of asphalt additives had been acquired by the ArrMaz. The Maxxchem business would be added into the ArrMaz’s Road Science Divison. The major aim of this acquisition is to provide cost-effective and innovative solutions for long lasting and safe roads
Global asphalt additive market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of asphalt additive market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the global asphalt additive market are Nouryon, DowDuPont de Nemours Inc, Arkema, Honeywell International Inc, Evonik Industries, Huntsman International LLC, KRATON CORPORATION, Sasol, Ingevity, ArrMaz, BASF SE, KAO CORPORATION, Akzo Nobel N.V., Berkshire Engineering, Engineered Additives LLC, Royal Dutch Shell, Owens Corning and others.
Research Methodology: Global Asphalt Additive Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved