Asphalt Additives Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2016–2024
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Cold mix asphalt is manufactured by adding a special category of emulsified asphalt with aggregates. The emulsion used reduces the viscosity of the asphalt, thus making it workable even at cold temperatures. Cold mix asphalt is premixed and stored for a long duration, thus making it an ideal product for road repairs and various other low-volume uses and is mixed and applied at lower temperatures as compared to conventional hot mix. Cold mix asphalt also has various environmental benefits such as low-temperature mixing resulting in reduced fuel consumption and resulting fumes. The production of cold mix asphalt is relatively eco-friendly, with very low associated emissions.
Asphalt Additives Market Taxonomy
On the basis of product type, the global market is segmented into:
On the basis of function, the global market is classified into:
On the basis of application, the global market is classified into:
Roads and Infrastructure
In construction industry, asphalt derivatives are used in formulating mortar admixtures and concrete. They also find application in manufacturing of gypsum, cement plasterboard and asphalt emulsions. Various asphalt additives used in the construction industry include foaming agents, dispersants, defoamers, grinding aids, accelerators and air entrainers. Asphalt additives are used for both, new construction as well as maintenance activities, with the former being the largest application area.
Asphalt Additives Market Outlook – Need for Increasing Road Infrastructure to be the Major Market Driver
Asia Pacific and North America are expected to be the most potential markets for plastic additives manufacturers. Asia Pacific is projected to witness relatively high growth in terms of value over the forecast period. Development of roads and infrastructure is one of the major factors contributing to the growth of geotextile market. Asia Pacific is one of the major contributors in the geotextile market globally. Rapidly flourishing urbanization has led to the increase in the requirement of new roads and modern infrastructure. This trend is expected to be followed over the forecast period. According to IBEF India has the second largest road network in the world and is expected to reach total revenue of USD 6.9 billion by the end of 2017. India Brand Equity Foundation (IBEF) is a Trust established by the Ministry of Commerce and Industry, Department of Commerce in collaboration with the Government of India with the purpose of promoting and creating international awareness of goods manufactured in India. This mainly attributed to various government initiatives such as Pradhan Mantri Gram Sadak Yojana (PMGSY), during which 133-km roads per day was constructed in 2016-17 and others.
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Reusable applications of asphalt additives are fueling the demand for asphalt additives, especially in Asia Pacific and Middle East regions. Expansion in various geographies is a key strategy adopted by the major players in the asphalt additives market. IN September 2015, CalPortland completed expansion of the business in California which will add to the manufacturing capacity of the company. Some of the major companies operating in the global asphalt additives industry include 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, and The Arkema Group.
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