With Sluggish CAGR Rate of 3.8%, Global Asphalt Additives Market to Reach US$ 4.7 Bn in 2025

“Asphalt Additives Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017-2025,” is the recent report that has been added on the database of Market Research Reports Search Engine (MRRSE). This report throw a light on overall market scenario during the period of eight years, i.e. 2017-2025. According to this report, in 2016, the global asphalt additives market valued at US$ 3.3 Bn. This market is expected to expand at a sluggish CAGR of 3.8% by volume over the estimated period (2017–2025) to reach a value of US$ 4.7 Bn by 2025 end. Market players are targeting APEJ as their key sales region. Japan, China and India are expected to remain a highly opportunistic markets over the predicted period in terms of the overall demand for asphalt additives.

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Global Asphalt Additives Market- Segmental Analysis and Forecast

This market is segmented into application analysis and technology analysis. Application analysis is segmented into roofing, paving and road construction and others- including airfields, parking lots etc. After concrete, asphalt is largely used as a paving material and in a construction of roads. The reason for using asphalt in construction of road and pavements is because of its resilience power and durability. Besides, it takes a very little time to complete the road construction when asphalt is used as a main material. When it comes to roofing application, asphalt work as a waterproof material. There are various types of asphalts that are used in roofing applications such as bitumen modified membranes, asphalt roll roofing, asphalt shingles and built-up asphalt roofing. Landfill caps and bridges, railways beds, ports, airport runways, greenhouse floors, running tracks, barn floors, playground and tennis courts are other applications of asphalt. 

Technology segment consists of warm/hot mix additives and cold mix additives. Because of its resistance and flexibility to water and other tough weather conditions, hot or warm mix additives used more commonly across the globe.

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Global Asphalt Additives Market- Forecast and Analysis by Region

Five regions have covered in this report namely, South America, North America, Middle East and Asia, Europe and Asia pacific. With more than 32% revenue share in 2016, Asia pacific dominated the global asphalt additives market. India, Japan and China are the three countries in APAC region which are leading this market in terms of demand. In 2016, the second largest region in the worldwide market for asphalt additives was North America. Growing construction activities and rising construction of roads across the United States is likely to fuel the growth of asphalt additives in the region of North America. South Africa, Mexico and Brazil are few other countries which are significant customers of asphalt additives.

Global Asphalt Additives Market- Key Vendors

Engineered Additives, LLC., Ceca Chemicals, Kraton Corporation, ArrMaz, Akzo Nobel N.V., Huntsman Corporation, E. I. du Pont de Nemours and Company, Berkshire Engineering Supplies, Honeywell International Inc., Kao Corporation, Berkshire Engineering Supplies, The Dow Chemical Company, and Evonik Industries AG are some of the key vendors that are functioning in the global asphalt additives market.

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