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Asphalt Additives Market is expected to reach $2,302 million by 2022, supported by a CAGR of 6.6%: Global Industry Analysis and Opportunity and Forecasts

04-15-2019 07:29 PM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

Asphalt Additives Market is expected to reach $2,302 million

The global market was valued at $1,433 million in 2015, and is expected to reach $2,302million by 2022, supported by a CAGR of 6.6% during the forecast period 2016 - 2022. Thepolymerized asphalt cement (PAC) segment held nearly half of the total market in 2015. Asphalt additives are the specialty chemicals that are added to impart additional benefits suchas reduction in stripping, raveling, cracking, costs, and deformations.

They are specificallyadded during construction of roads, sidewalks, airports, and parking lots. The market forasphalt additives has grown tremendously in the recent past due to increase in governmentinvestment for the infrastructural development coupled with the rise in ownership ofautomobiles globally.Factors that drive the growth of the global asphalt additives market are increase inurbanization, rise in demand of asphalt from construction industry, and growth in conformitywith latest manufacturing standards.

In addition, increase in demand for asphalt additivesfrom the emerging economies as well as growth in awareness about energy conservation andsustainable infrastructure provide opportunities to the asphalt additives manufactures.However, low consumer awareness and change in regulatory environment are expected tohamper the market growth.

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Key Findings of Asphalt Additives Market

• In terms of both value and volume, Novophalt additives is projected to be the fastestgrowing segment during the analysis period.
• Asia-Pacific is projected to maintain its lead position throughout 2022 and will grow ata CAGR of 8.3%, in terms of volume.
• Road construction application occupied more than half of the total market in 2015.
• China occupied two-thirds of the total Asia-Pacific asphalt additives market in 2015.

India is expected to grow at the fastest rate and is expected to grow at a CAGR of9.2% from 2016 to 2022In 2015, Asia-Pacific and LAMEA collectively accounted for two-thirds of the total asphaltadditives market and are expected to continue this trend due to increase in infrastructuraldevelopment, specifically in China, India, and other developing economies.

Rise in urbanpopulation is the main reason for the growth of asphalt additive market in the Asia-Pacificregion.The major companies profiled in the report include Evonik Industries AG, Tri-Chem Industries,Ingevity, AkzoNobel N.V., E. I. du Pont de Nemours and Company, Honeywell InternationalInc., Huntsman International LLC, Kao Corporation, ArrMaz, and The Arkema Group.

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About Us:

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.


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