Asphalt Additives Market Trends, Revenue, Key Suppliers and Demand Projections by 2023-2030 | Evonik, Tr Chem Industries, DuPont Evalay

The Asphalt Additives Market is estimated for 2023 for the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Asphalt additives are chemicals that are added to asphalt binders to improve their performance properties such as resistance to rutting, cracking, aging, water damage, and traffic wear. They enhance mix and laying properties of asphalt.

Market Dynamics:

The asphalt additives market is expected to witness significant growth over the forecast period owing to rising infrastructure development projects around the world. Governments of various countries are investing heavily in construction of roads, highways, bridges, and other infrastructure development projects which is expected to boost the demand for asphalt and in turn drive the growth of asphalt additives market during the forecast period. Additionally, growing demand for modifiers such as polymer modifiers that enhance thermal stability and improve performance properties of asphalt is also expected to support the market growth.

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Top Key Players are Covered in this Report:

★ Evonik
★ Tr Chem Industries
★ DuPont Evalay
★ MeadWestvaco Corporation
★ Akzo Nobel
★ Kao Corporation
★ Delta Companies and Arr. Maz CalPortland
★ AkzoNobel N.V.
★ Tri-Chem Industries
★ Ingevity
★ E. I. du Pont de Nemours and Company
★ Evonik Industries AG
★ Huntsman International LLC
★ Kao Corporation
★ Honeywell International Inc.
★ ArrMaz
★ The Arkema Group

Detailed Segmentation

By Product Type:

★ Polymeric modifiers
★ Chemical modifiers
★ Adhesion promoters
★ Anti-strip
★ Emulsifiers

By Function:

★ Warm mix
★ Cold mix
★ Hot mix

By Application:

★ Roads and Infrastructure
★ Construction
★ Paving

Segmentation by Region

The global Asphalt Additives market has five main regional segments, divided by geographic region. These regions are North America, Europe, Asia Pacific, Middle East-Africa, and Latin America.

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Major Market Drivers for the Asphalt Additives Market

Increase in road construction activities: Asphalt additives are extensively used in road construction activities for improving properties of asphalt to make roads more durable. With rapid urbanization and industrialization worldwide, the demand for better road infrastructure is growing substantially. Several governments are investing heavily in building new roads and highways as well as repairing and upgrading existing roads. This is expected to drive significant demand for asphalt and asphalt additives during the forecast period.

Compliance with stringent emission norms: Emission from vehicles cause air pollution as well as lead to global warming. Several countries and regions have implemented strict emission standards that vehicles and fuels must comply with. Use of asphalt additives helps in production of superior quality asphalt that enables construction of roads with improved textures and friction. This helps reduce noise and rolling resistance of vehicles, improves fuel efficiency, and minimizes vehicular emissions over the service life of roads. Tighter emission regulations are compelling the road construction industry and governments to increasingly adopt asphalt additives.

Market Restrain for the Asphalt Additives Market

Volatility in crude oil prices: Crude oil is the primary raw material used in the manufacture of bitumen, which is the main ingredient used in production of asphalt. Constant fluctuations and unpredictable rise in crude oil prices significantly impacts the cost of bitumen and subsequently the price of asphalt. This affects the affordability of asphalt for use in road construction projects. Reduced road construction works during periods of high crude oil and bitumen prices can negatively impact the demand for asphalt additives.

Market Opportunity for the Asphalt Additives Market

Infrastructure development projects in emerging economies: Many developing Asian, African, and Latin American countries lack proper road infrastructure and transportation networks. These emerging economies are witnessing substantial economic growth and are investing heavily in infrastructure development through initiatives such as construction of new highways, roads, airports, ports, railways and urban transportation systems. This presents a huge opportunity for manufacturers and suppliers of asphalt and additives to cater to the booming infrastructure sector in these developing regions.

Market Trends in the Asphalt Additives Market

Rise in use of bio-based and recycled additives: With growing environmental concerns, use of eco-friendly and sustainable materials is becoming increasingly important in the construction industry. Major trends observed lately include shift towards using bio-based and recycled raw materials in manufacturing of asphalt additives. This includes utilization of recycled plastics and use of bio-binders and polymers sourced from renewable biomass. Such green additives help reduce dependence on fossil fuels and lower carbon footprint of road construction activities.

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The report answers a number of crucial questions, including:

✦ Which companies dominate the global Asphalt Additives market?
✦ What current trends will influence the market over the next few years?
✦ What are the market's opportunities, obstacles, and driving forces?
✦ What predictions for the future can help with strategic decision-making?
✦ What advantages does market research offer businesses?
✦ Which particular market segments should industry players focus on in order to take advantage of the most recent technical advancements?
✦ What is the anticipated growth rate for the Asphalt Additives market economy globally?

Some of the Major Points of TOC cover:

Chapter 1: Techniques & Scope

1.1 Definition and forecast parameters
1.2 Methodology and forecast parameters
1.3 Information Sources

Chapter 2: Latest Trends Summary

2.1 Regional trends
2.2 Product trends
2.3 End-use trends
2.4 Business trends

Chapter 3: Industry Insights

3.1 Industry fragmentation
3.2 Industry landscape
3.3 Vendor matrix
3.4 Technological and Innovative Landscape

Chapter 4: Asphalt Additives Market, By Region

Chapter 5: Company Profiles

5.1 Company Overview
5.2 Financial elements
5.3 Product Landscape
5.4 SWOT Analysis
5.5 Systematic Outlook

Chapter 6: Assumptions and Acronyms

Chapter 7: Research Methodology

Chapter 8: Contact (Continue . . .)

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This release was published on openPR.